e-Commerce Inventory Management 101
Don’t let your booming e-commerce business become stagnant. While you may be utilizing dozens of tips and tricks to keep your inventory management running efficiently, you might still consider leveraging your business into multi channel inventory management. Take a look at the comprehensive guide for more information, and to learn how you can get connected to a team of inventory management experts.
What is e-Commerce Inventory Management?
No matter what you sell, it is essential that you have an organized system for ordering, keeping, and replenishing your stock as needed. Inventory management entails all these steps. After all, your inventory likely comprises a lot of your business’s time, money, and effort. If anything were to happen to your merchandise, you would take the hit.
Likewise, if you frequently run out of in-demand items or always have a poor selection to choose from, you will not likely keep satisfied customers for long. They will eventually seek out competitors who are better equipped to handle these things. Below are some steps you can take to prevent this from happening.
Sync Your Inventory Across Channels
Accessing multiple channels for inventory management can significantly reduce the reduce the workload for your company. After all, it is easy to streamline your branding when every account is synced, and you can ensure that all your channels and store fronts are up-to-date and accessible.
Whether you are using Amazon, Etsy, Walmart, Ebay, Overstock or a number of other online retailers, Listing Mirror can fully integrate your marketplaces.
Fulfill Orders Efficiently
Once you’ve expanded to multiple marketplaces, it can be difficult to keep track of orders. Order fulfillment is a complicated process, and multi channel strategies can sometimes make it more difficult. From centralized management to tracking info, companies like Listing Mirror offer you hassle-free services for keeping your orders running efficiently and accurately.
Kit, Bundle, Multi-Warehouse Support and More
Want to bundle a few items for a holiday deal or other promotional strategy? Another key area of difficulty with most multi channel inventory management teams is bundling. By using a multi channel team, like Listing Mirror, it’s easy to create kits and bundles that strengthen your brand and pull merchandise from multiple warehouses.
Multi-warehouse bundling is simple with a comprehensive SKU system for each of your warehouses. This highly detailed system can be time consuming to create on your own, so hire a team that can get it done affordably and quickly. Individual SKUs and updated inventory allow you to manage multiple warehouses accurately and effectively.
Specialized Team and Personalized Onboarding
Your company is unique, and your business plan includes action steps that help you stand out from your competition. With this in mind, choose a company that uses dedicated onboarding specialists. These professionals work with you directly to understand your business, find out your long-term ambitions for your brand and guide you to multi channel strategies that will help you reach your goals.
Perfecting Your Stock Situation
Do you have empty shelves or crowded warehouses? Whether your company is based out of your garage or a string of international warehouses, stocking is a critical area of your business. If you have too much inventory, you’ll need to lower the cost to meet the lack of demand. On the other hand, too little inventory and you’ll lose all that potential income as your customers move to your competitors.
Multi channel inventory management not only opens up new avenues of potential clients, but can also help you accurately assess your current levels of inventory, and help problem solve any inventory-related issues your company may be facing. Opening your business to multiple channels can dramatically increase the demand for your product or service, so make sure you have the organizational structure in place to accommodate this potential boost in sales.
The Right Multi Channel Team for Your Business
As you continue to perfect your inventory management business, let a dedicated team of multi channel specialists and technicians assess your current multi channel strategies. Listing Mirror is an excellent option for comprehensive and affordable multi channel support. Whether you choose the professional or Enterprise package, you’ll receive dedicated assistance to create more channels for your potential customers to find your products and services.
Sell More. Work Less.
Erin is the Co-Founder of Listing Mirror.