Problems with business when becomes bigger

Hi, everyone. I got some problems with my future business. I am planning to open a medium business which operates in the retail field. Because of the lack of funding, I just can open 2 physical stores which are far from each other 100km (in 2 different cities). Along with 2 physical stores, I also build 2 corresponding online stores and 3 warehouses spread from beginning to the end of our state.
But here is the problem: I cannot manage multiple location inventories between online and offline stores. Maybe I need an inventory management app that will sync with my Magento Online Store and Magento POS and track/update inventory quantities. It would also need to allow me to view each individual inventory.
StitchLabs kind of does this, but it's a cumbersome product and lacks any simplistic view of inventory. Only a massive .CSV file that gives me TMI.

Is anyone else having this issue? What are you doing to work around this lack of functionality? I need your help, please. I would appreciate your recommendations

 

Maybe you should plan way and hire some experienced people who can your in business be sure in the plans what are you making for your business otherwise your business may not work if you have plans accordingly

 

Hello Kylan, We've been very efficient in helping companies who need to manage inventory for multiple locations while needing support for POS, ecommerce and accounting. Let me know if you would like more information.
-John

 

After 2 weeks researching on the internet and consulting from suggestions. I came up with 2 possible options which are: Xero and Magestore. Xero is quite professional, and have a good reputation, but they end up didn't satisfy me. And Magestore seems better with my business. Then I chose MageStore from this website: https://www.magestore.com/pricing
The reason I chose magestore compared to xero because the implementation is better and their product is integrated with QuickBooks. Last year I bought 3 extensions from them so I can find their support team is very effective. So I bought a medium package from their website (they call it omnichannel solution, not ERP system). So far, their solution runs smoothly and I haven't encountered any bug in my system. Their website is very professional and they offer free demo, effective support
Has anyone had any comment about their solution? Because they offer me 365-day refund. If has any negative review, I will think again

 

That's why it is important to have a marketing plan. Because part of the plan is to set goals, timeline and marketing alternative plans.

 

One problem when business gets big is of course location, especially physical location. It can get restricted due to size. Another issue is labor. The bigger the operation, the more people are needed for it. Inventory will of course also be an issue, as well as warehouse/storage.

 

I completely agree, regarding everything you say. Basically, when your business is growing you need to focus on optimizing the supply chain management. The faster your business is growing – the more important it becomes.

People in this thread are suggesting great technological solutions. As a company that is aiming at multi-channel retail, you would probably need an all-round system with multiple integrations to marketplaces, shipping services as well as shopping carts.

The original problem was: “But here is the problem: I cannot manage multiple location inventories between online and offline stores. Maybe I need an inventory management app that will sync with my Magento Online Store and Magento POS and track/update inventory quantities. It would also need to allow me to view each individual inventory.”

So I would say that your main aim should be multi-channel + multi-warehouse inventory management system that supports accounting and syncs the entire inventory. If you are looking for this kind of functionality, but don’t want to go with a StitchLabs, I would be happy to recommend our software – Jazva. We specifically focus on providing all-round functionality to mid- and large-size retailers.

And it happens that we provide all necessary integrations and features that you’ve mentioned. If you are interested, please don’t hesitate to contact us, our team will be happy to walk you through the functionality and UI. If you don’t like it – no hard feelings, we will understand. However, I hope you’ll at least consider it.

Best Regards, and good luck.

 

My suggestion is to invest in scripts, softwares and Apps rather than hiring Management Graduates, Tax Consultants or Accountants. Or same will be the destiny of yours as the Amazon and Facebook is facing in USA.

 

• Keeping up with the market
• Planning ahead
• Cash flow and financial management
• Problem solving
• The right systems
• Skills and attitudes
• Welcoming change

 

Any specific product niche you are trying to focus on for your stores?

 

I agree. This was an advice from my business coach. I was selling on eBay and decided to go big. I started with building a website in Magento.
So accounting I use Quick books online manned by a virtual assistant. For inventory management I'm using EMERGE App emergeapp.net.

 

You will need someone (A software or a person) to manage your business because you cannot both your physical stores and online and that is total 4 right? It is a good idea to hire an accountant but you must try the management apps, software or online business management websites. I also heard of some cloud-based apps and the benefit of these apps is that your data is safe.

 

Hope you found a solution since you started your thread here. But you definitely need the right software. I know it as we helped a few clients with such problems. Especially the different warehouses and stocks are hard to manage, without the right software.

 

Your business and assets are large enough that you should be hiring a retail IT/Operations consultant to help you with your supply chain systems and processes. I suggest finding a local consultant (recommended by other local retailers) and getting some guidance as to what you need to implement. A well-planned inventory/logistics system and processes is essential in these days of fast delivery expectations by customers.

 

Hahahahahaha....

I am having a very similar problem but with my future winning lottery ticket. I'm planning on buying a nice house but I am very concerned about my future neighbors hounding me for cash...........

 

There's a product called mail-order manager that might work well for this. And I think this is also the sort of thing that you can custom build. I've been thinking about how artificial intelligence is starting to be available to the average developer, and being able to do predictive ordering could be pretty cool.