SAN FRANCISCO, CA--(Marketwired - June 10, 2015) - Stitch Labs, the leading inventory control and multichannel selling solution, has announced new features that streamline the inventory purchasing process for retailers. With a focus on how retailers can maximize selling opportunities, Stitch provides a more integrated solution for alerting retailers of when stock needs to be replenished and auto-populating purchase orders.
Purchasing can be difficult for retailers because information is often siloed and difficult to keep updated. Stitch aggregates important purchasing and inventory data allowing customers to track stock quantities, order new inventory and reconcile quickly. This saves retailers time on tasks that are typically done manually and in multiple documents. By leveraging Stitch's central inventory solution, retailers have visibility into their entire inventory workflow and supplier performance.
Some of the most valuable purchasing features recently launched are:
- Low-stock digest: Retailers will receive an email informing them when any of their stock has hit a low-stock threshold so they can take immediate action.
- Sales forecasting: Report that projects sales for the upcoming four and 12-week periods, using order history to predict future demand.
- Supplier scorecard: Retailers can now view benchmark data on their supplier performance. They'll be able to see how they rank on key performance metrics such as required lead time, percent of on-time delivery and accuracy of order fulfillment.
- Auto-populating purchase orders based on low-stock variants: Retailers can automatically populate purchase orders with either all products or just those that have hit their low stock threshold. Current and post-order stock quantities are visible within the Purchase Order for more precise orders, eliminating any guesswork and saving retailers time.
- Automatically update inventory when receiving POs: When retailers receive shipments from suppliers, they can receive the purchase order and automatically update all new inventory quantities.
"Managing a retail business isn't just about the sale of the product," said Brandon Levey, Stitch Labs CEO. "To grow, retailers need real-time visibility into each stage of the process. Small improvements in purchasing and stock management will lead to cost optimization as well as increasing sales to avoid out-of-stock issues."
These latest features support the company's goal of providing a holistic solution for retailers, anchored in smart inventory management. With a focus on automation and centralizing inventory control, the company will continue releasing features that provide retailers the ability to scale their businesses without worrying about operational roadblocks.
"Stitch is the best app for syncing inventory across multiple sales platforms," said Corben Madden, CIO of eJuices.com and current Stitch customer. "Regardless of what channels I sell through, my inventory will sync, and I can create purchase orders so that my incoming inventory is automatically added. The reporting tools are very powerful and have really helped us get the intel to forecast our inventory needs. We truly are thankful for what Stitch has given us the power to do as a company."
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