Flexible Stock Management
Sat Dec 17 2022
Himalayan Green provides a flexible stock management option. There are two options members can use.
- Active Stock Management
- Inactive Stock Management
Active Stock Management is where we assume that you actively maintain your stock. This means that if you say that you have 5 pieces of a product, you are ready to receive an order for all those 5 pieces of that product. If you receive an order for 3 pieces of that product, you'll be contacted by the logistics service for the product to be picked up, your stock amount will fall to 2 and the order will proceed as usual. If you only have 2 pieces of a product, and someone is trying to order 5 of them, you'll be prompted to accept/decline the order via mobile notification. (This is a part of inactive stock management!).
Inactive Stock Management is where you'll receive orders from the customer irrespective of the order quantity. After you receive the order, you'll have to either accept or decline the order based on whether the item is available at your disposal. If you accept the order, then the customer will be notified to make payment for the order. After the customer makes the payment, you'll be contacted by the logistics service to pick up the order. If the client cannot make payment in the stipulated time, the order will be marked as canceled. Once you receive the order, and you don't have the required quantity of items, you'll have the option to decline the order as well.
All products that have a stock amount greater than 0 will be handled with the Active Stock Management mechanism. Items with a stock about of 0 will be handled with Inactive Stock Management.
Inactive Stock Management is especially helpful when you're selling your products in multiple marketplaces, both online and offline, and don't want to deal with the hassle of over-booking an item. Whereas, Active Stock Management is for those cases where you can always guarantee the availability of a product.
Because Stock Management Option is tied to the stock amount you have for a product, you can use both of these options on a per-product basis meaning that you can choose to actively maintain stock for a product while not doing so for another.
To opt in for Active Stock Management set the stock amount to greater than 0, to opt in for Inactive Stock Management, set the stock amount to 0. Note that when your stock amount is 0, you'll still receive an order request. If you don't want to receive an order request for a particular product whose stock is 0, you can set the product to draft. This means that the product isn't ready for sale yet.
The incentive to do Active Stock Management is to enhance the customer experience in that your customer will be able to get instant order confirmation. The incentive to do Inactive Stock Management is to avoid the pain and hassle of over-booking or over-ordering. Customers will get a notification of order confirmation/rejection only after you accept/reject the order. If you fail to do so in the stipulated time, the order will be auto-canceled.