From managing inventory to optimising marketing campaigns, the success of your webshop largely depends on the quality of your data. Whether you are a purchaser with years of experience or are just starting your online store, having your company data in order is essential. In this blog, we discuss why good data is so important, how to get your data in order and what inventory optimisation software such as Optiply can achieve with quality data. We also give you a useful checklist to get your data in order.

Why is good data so important?

Good data is the foundation of every successful e-commerce business. They provide insight into the performance of your webshop, help identify trends and patterns and drive important decisions. With accurate data, you can better manage your inventory and improve your customers’ overall experience. Data also forms the foundation for inventory optimisation software which you will read more about in the following paragraphs.

Image 1 Blog Get your data in order

How do you collect data and make it usable?

As a starting or smaller webshop, you may use basic and manual methods to collect data. For example, you keep sales figures and inventory data in spreadsheets and manually analyse sales reports. While this approach is less sophisticated than software solutions, it can provide valuable insights if you work consistently and accurately.

As your webshop grows, various software systems can help collect, store and make a growing amount of data usable. Enterprise Resource Planning (ERP), Warehouse Management Systems (WMS), Content Management Systems (CMS) and Point of Sale (POS) systems, among others, are capable of collecting and analysing data. Integrating these systems is key if you want to create a data-driven e-commerce environment within your business.

The above systems act as a source when you decide to integrate smart inventory optimisation software such as Optiply. The quality of the data in the source system is crucial for a system like Optiply to make the most accurate forecasts possible.

Curious about what you should pay attention to to keep your cash flow moving? In the white paper, you find six smart ways to get a grip on your supply chain and prevent money from getting tied up in excess inventory.

How do you get your data in order? A checklist to ensure the quality of your webshop data

Getting your data in order is a process that starts with collecting relevant information and ends with analysing and interpreting it. Here are some steps you can take to get your data in order:

1. Data collection

Identify which data is important to your business operations, such as sales figures, inventory levels and customer information.

2. Data cleaning

Remove duplicate entries, incorrect information, and other inaccuracies to improve the quality of the data in your source system.

3. Automation

Use automation and software systems to collect, organise and analyse your data more efficiently.

4. Data control

Regularly check the accuracy and completeness of your data to ensure it is reliable.

5. Training

Make sure your team is adequately trained in the use of data analysis tools and techniques to make optimal use of your data.

What data is important for inventory optimisation software?

Inventory optimisation software such as Optiply requires at least the following information to start making forecasts:

1. Product information

Make sure the product information in your source system is entered correctly: product names, SKU codes, sales prices and inventory levels.

2. Supplier information

Make sure that all suppliers for which you want to place purchase orders have been entered correctly.

3. Link products and suppliers

Indicate from which supplier you purchase your products and what the conditions are, such as purchase prices, the supplier’s product name, purchasing units and MOQ. Also, ensure that products are linked to suppliers.

4. Sales history

Optiply prepares the purchase orders based on your sales history. Make sure all sales orders are stored correctly in your system.

5. Purchase orders

Can you register your purchase orders in your source system? In any case, make sure that open purchase orders have been entered. Optiply takes this into account when drawing up the new advice.

In addition, there is data that is not crucial for Optiply to create purchasing advice, but that can improve the quality of the output. These are the following datasets:

  • Lot sizes & MOQ´s
  • Purchase and sales prices
  • Composite products
  • Overview of non-stock products (only on backorder)

Curious about what you should pay attention to to keep your cash flow moving? In the white paper, you find six smart ways to get a grip on your supply chain and prevent money from getting tied up in excess inventory.

Purchasing and inventory management: what can you achieve with good data?

Using data-driven inventory optimisation software like Optiply, you can achieve various advantages as a webshop in the field of purchasing and inventory management:

1. Optimisation of purchasing decisions

By analysing your sales history and identifying trends and seasonal patterns, inventory optimisation software can help predict future demand. This allows you to optimise purchasing decisions so that you avoid purchasing too much or too little. This prevents unnecessary costs and lost sales from harming your revenue and customer satisfaction.

2. Reduction of inventory costs

Inventory optimisation software minimises excess stock and prevents inventory shortages. This helps to reduce inventory costs. Maintain optimal inventory levels and reduce the need for expensive emergency orders or storage space.

3. Improvement of delivery reliability

By anticipating future demand and placing purchase orders on time, inventory optimisation software can help you improve delivery reliability. Know that your products are available to your customers at the right time, this strengthens your customer satisfaction and their loyalty to your webshop.

4. More efficient inventory management

Inventory optimisation software can help by automating your replenishment orders and providing real-time insight into inventory levels to manage inventory more efficiently. This enables you to streamline inventory management processes and allows you to focus on strategic tasks that can drive your business growth.

Get your data in order to enhance the success of your business

By organising your data and integrating smart software systems your webshop can optimise purchasing and inventory management, reduce costs and improve efficiency. Inventory optimisation software such as Optiply uses advanced algorithms to optimise your purchasing and inventory management. With quality data, Optiply can make accurate forecasts about future demand. This allows you to prevent shortages and reduce inventory costs. In addition, Optiply can help you identify trends and seasonal patterns. This allows you to better respond to the needs of your customers and gain a significant advantage over your competition. It ensures that your competitiveness is increased and your chances of success for your e-commerce business increase in the long term.