In recent times, e-commerce store owners are trying every way to meet the needs of customers. The reason behind that is due to the proliferation of e-commerce websites. Attracting and retaining customers is one of the prerequisites for the survival of an enterprise. Besides, stock inventory management is also a factor for the success of any business. Choose the Magento inventory management extension as a powerful tool to make your e-commerce store attractive and efficient. In this article, we would like to introduce you to why you should care about managing store inventory and 5 Must Have Features For Advanced Inventory Management Extension. But first, let’s take a look at the overview of Magento Usage statistics. Let's check it out.

1. The overview of Magento Usage Statistics in 2020

• There are more than 250.000 merchants who choose Magento platform for their business

Do you know how many websites in the world use the Magento platform? Magento has more than 250,000 customers, according to official information from Magento.

• Magento accounts for 1.4% of the Content Management System (CMS) market.

About 57% of websites on the internet today use a CMS. Among these sites, Magento accounts for 1.4% of the CMS market. It's 1% lower than Shopify, which accounts for 2.4%.

• Magento ranks 2nd in the list of most popular e-commerce software in the world

In the e-commerce software battle between Magento vs Shopify vs Woocommerce. Magento beat Shopify, Woocommerce took the top spot. Today, Magento makes up 12% of the e-commerce world, while Woocommerce accounts for a little more at 18% and Shopify 8%.

• Magento processes more than $ 155 billion in total merchandise each year.

Without a doubt, Magento is currently one of the leading open source CMS for e-commerce in the world. The platform processes more than $ 155 billion in transactions each year.

2. Why you should care about managing store inventory?

Inventory management is very important because it solves many problems. First, it helps to improve the customer experience by providing flexibility and eliminating defects on unfinished products due to possible shortages in stock.

According to a study conducted by Veeqo, 70% of customers will buy a product from a competitor if the product is not available, instead of waiting for the product to return.

Besides, it also improves cash flow and optimizes completion, ensures everything is correctly placed and stored and can be packed and shipped to the customer in the shortest possible time.

If you operate a Magento store, here are 5 Must Have Features For Advanced Inventory Management Extension to help you effectively control your inventory.

3. 5 Must Have Features For Advanced Inventory Management Extension

1. Intergrated with locator extension

Magento's Inventory extension comes with a location engine extension for stores, which is the best solution for setting up and referencing your store using the Google Map API. . It really makes it easy for your customers to find your physical stores and that's the best habit for them.

2. Store list in product detail page

Admin can easily enable / disable the Store Listing in the product detail page in the admin panel and your customers can conveniently view and get short address information, even stock availability of one store in this list.

3. Locator store

The locator store feature allows their customers to quickly find the address and the store closest to them.

4. Manage stock and manage stock of store

• Manage stock: Administrators can go to category in product management to add or edit at inventory, they can also select stock of store for manage advanced inventory stocks.
• Manage stock of store: with this feature, admin can easily process and edit each stock of each store. It makes it easy to manage stock for each store if you own a chain of stores selling products.

5. Feature for backend

• Managed stores information: store name, description, address, working time, store locator on Google Map
• Add, edit, delete information of each store
• Add, edit stocks quantity of each store when creating or editing a product
• Add, edit stocks quantity per product on grid
• Manually assign orders into store, used drop-down to choose store
• Polls statistics to check sales overview of all stores and per store

6. Feature for front-end

• Show stocks quantity of each store on product page
• Warning message for out of stock products
• Built with Magento Store Locator that will help customer to define nearest shops fast
• Displaying many stores on Google Map

4. What is the best Inventory Extension for Magento? 

The Advanced Inventory extension for Magento by Cmsmart is the most powerful extension that can significantly facilitate your administration. This extension not only helps website owners manage inventory for many different stores but also allows to manage information, location, statistics and reviews for each product for each store. In addition, with the powerful admin panel, you can easily add stores with, easily view, edit and save product information.

You can check out the DEMO.

If you have any questions about this products, Magento extension, Magento themes, you can leave comments in the section below, or you can fill out the contact form. We will answer all of your questions as soon as possible.

If you are looking for Magento custom services, don’t hesitate to contact our support team and share your project with us. We are willing to help you.

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Thank you and best regards.