Product availability
Last updated September 22, 2023
What is product availability?
Product availability refers to the status of a product indicating whether it is in stock and ready for purchase or use. It reflects the current inventory levels of a product and whether it can be immediately obtained by customers.
Why is product availability important?
When a product is available, it means that customers can readily purchase it, leading to potential revenue generation. On the other hand, when a product is not available, it can lead to customer frustration, lost sales, and even damage to the brand’s reputation.
FAQ
Businesses can manage product availability through
- Inventory management
- Supply chain management
- Demand forecasting
Backorders occur when customers can place orders for products that are temporarily out of stock. Pre-orders allow customers to reserve products before they are officially released or restocked.
In e-commerce, product availability is crucial. Online retailers should display real-time availability information on their websites and notify customers if products are out of stock before they reach the checkout stage.
Retailers have different supply chains, inventory management strategies, and supplier relationships, leading to variations in product availability. Some retailers might prioritize after restocking, while others focus on maintaining lean inventory.