Good ecommerce management is essential for accurately tracking inventory operations and efficiently managing multi-channel selling on marketplaces such as Amazon and eBay.
If ecommerce inventory management is done poorly (which is often the case when executed manually) your business will suffer as a result.
No ecommerce business should have to experience profit loss or a decrease in custom due to management errors, especially when these problems are easily avoided with ecommerce inventory management software.
With ecommerce inventory software you can prevent problems such as stock outs and overselling. Not only is this the most efficient way to manage your ecommerce inventory, but this software is beneficial to many other areas of your business.
13 Ways ecommerce inventory management software benefits your ecommerce business:
1. Track all your inventory with one system
With ecommerce inventory management software, it’s easy to keep track of your inventory all in one place.Each stock movement that occurs in your warehouse is easily tracked, as ecommerce inventory management software gives you a complete view of stock levels in real time.
With such an accurate overview of your ecommerce inventory, you can prevent stock outs and avoid unfulfilled orders by distributing stock from existing inventory, enabling you to fulfill customer orders efficiently.
2. Avoid overselling
With stock levels continuously changing, accurately updating ecommerce inventory levels manually is virtually impossible. Without accurate stock updates, you’re at risk of overselling which not only leads to loss of sales but unhappy customers.If your clients are sold a product that isn’t available, they will leave negative feedback and are unlikely to shop with you again.
Negative feedback and low ratings will damage your reputation and prevent future customers from wanting to purchase from you. It’s also important to remember that if overselling is a common issue you’re having, then online marketplaces such as Amazon and eBay will no longer allow you to sell on their channel.
The only way to keep on top of inventory updates and to avoid these problems is to have ecommerce inventory management software automatically update your inventory levels across all of your sales channels.
3. Ecommerce inventory management software works with drop shipping
If you’re a drop shipping retailer ecommerce inventory management software can be programmed to include supplier stock quantity as your available inventory. This means you can send the stock from both your drop shipper and your warehouse to your selling channels.
4. Ecommerce inventory management software supports high volumes of ecommerce
As your business grows, ecommerce inventory management software is designed to support growing demand. Ecommerce inventory software can support large amounts of products and transactions easily, meaning you can enjoy your success with peace of mind knowing this software can handle all inventory management and order processing efficiently.
5. Ecommerce inventory software supports Amazon FBA
If you’re selling your products on Amazon and using Amazon’s FBA (fulfilled by Amazon) to execute sales, ecommerce inventory management software can provide an overview of stock levels in both your warehouse and Amazon’s warehouses. With this accurate overview, you can set up reorder points for when you need to transfer stock from your warehouse to Amazon.
6. Easy marketplace shipping
Ecommerce inventory software simplifies both shipping and inventory management. This software integrates shipping services such as ShippingEasy or ShippingStation for easy and hassle-free shipping of orders generated through online marketplaces and your own online store.
This software communicates with these shipping services updating you when orders are complete and recording when your products have been removed from your ecommerce inventory.
This software can also integrate popular shopping carts such as Shopify and WooCommerce.
7. Product code managing
When expanding your sales channels to different marketplaces such as Amazon and eBay, you’ll find you’ll have different service identification codes ( SKUs) for the same product.These unique product codes can become difficult to manage if you’re attempting to keep track of these manually.
Ecommerce inventory management software can handle these codes in a few clicks, helping you to keep track of SKUs and your ecommerce inventory levels easily.
8. Ecommerce inventory management software assists product bundling
A common tactic for competitive businesses is to set up product bundles. These bundles consist of several related items that are packed and sold as a one combined product to raise sales and increase selling options.
Ecommerce inventory management software helps you to set up this useful feature and keep tabs on stock levels of each product bundle as well as individual products within it by automatically updating inventory levels.
9. Integrated barcode scanners
Ecommerce inventory software can be incorporated with mobile barcode scanners to increase efficiency during warehouse operations.Warehouse activities such as pick and packing, stock takes, and inventory transfers can be performed quickly and accurately.
After these operations are completed, they can also be synced from the barcode scanner to the software making these changes available to view.
10. Easy tracking
Ecommerce inventory software allows you to implement serial number and lot tracking giving you a clear view of tracking information from receiving to shipping.
By using these tracking methods, ecommerce inventory software makes sure your products can be easily traced by features such as product lookup tables and an integrated barcode system.
11. Prevent stock shortages
Ecommerce inventory software can prevent unwanted stock shortages by setting up reorder points for each product. When your stock levels are running low, ecommerce inventory software lets you quickly create reorders to be sent to your supplier. If you have more than one warehouse or multiple suppliers, you can also set up individual reorder points for each product at various locations.
12. Integration with accounting
Ecommerce inventory software allows you to integrate your accounting onto one easy-to-use system. You can sync all information such as sales invoices and purchase orders onto a single platform.
You can even integrate account managing programs such as QuickBooks that use both desktop and online services to keep information consistent and to avoid repeat data entries.
13. API Support
You can make use of the ecommerce inventory software’s APIs and adjust your inventory management system to your requirements. These API’s can even be used alongside an in-house developed system for optimum results.
With functions such as efficient data automation and electronic data interchange, this software can easily support a fully functioning business and cater to specific needs.
For the most efficient way to manage your ecommerce inventory, talk to one of our experts now.