Essential Features Required in an Online Inventory Management System

An inventory analyst in Top Golf – Mr. Bryan Harej had once told that it’s very miserable to rely on Excel spreadsheets for the inventory management tasks….

Are you going through the similar pain of managing your inventory with the help of excel spreadsheets? If yes, then it’s high time now that you move to the best inventory management system which can manage your data accurately.

Managing inventory can be a very time consuming and tedious job, especially if you are selling on different marketplaces like Amazon, Ebay, Sears etc. So what do you do to manage this smartly, so that you as an online retailer can focus more on your business expansion?

It is simple, you need an Inventory Management System, one that is made for you and is driven by your business needs and logic.

Overselling – Biggest Challenge of Selling on Different Marketplaces

Managing stock accurately becomes the biggest challenge you can face while selling online on different marketplaces.

For example if you have a product with the stock of 30 pieces, with the fear of overselling, you cannot place 30 pieces on different marketplaces.

So, it would be better that you place 10 pieces on Amazon, 10 pieces on Ebay and keep the rest 10 as safe stock. But, what happens if a customer is searching for 25 pieces on Amazon. He will buy from another merchant and you will lose a valuable client.

“For example, you have 30 pieces of a product in stock and you want to sell those on multiple marketplaces. What quantity would you put across these marketplaces?

If you put 30, you run the risk of overselling, if you put less then you run the risk of underselling. This is the problem that an inventory management system would solve for you….”

With the help of Online Inventory Management Software, you can centralize and manage the entire stock from one place. So, now without any fear of getting out of stock, you can place 30 pieces in all the marketplaces.

If 25 pieces are sold from Amazon, automatically the stock gets deducted from eBay and other too and it will be displayed as 5 pieces on both Amazon and Ebay.

Inventory Management System – Just Right for your Business

Now you must be wondering as to which inventory management tool would be best for your type of business and which features you should look for in the system.

Here are Some Points I can answer your Questions….

#1. A customized inventory management system:

Esellerhub, can understand the uniqueness of your business but at the same time lists the minimum required features to manage your business online on various marketplaces. All these features can be customized according to your specific business requirements.

#2. Suppliers Management:

List, manage and create Purchase Orders from all your suppliers from a single screen.

#3. Stock Management

This feature is the most important as it lists and manages your stock on various marketplaces. It helps you in managing your stock in a smart way and smartly competes with your online business competitors.

#4. Marketplaces Synchronization Management

This can be really very helpful, if you want to sell on various marketplaces like Amazon, Ebay, Rakuten etc.

You can list, manage and control all the products being sold on all the marketplaces including your own online store from a single place which saves lot of your time and efforts.

#5. Managing Orders

Integrate and track your orders from different marketplaces from one place. Check order status and detailed order reports conveniently using one single system.

#6. Shipping

Managing pick, pack and dropship accurately and quickly is very much important to succeed while selling online. You can integrate different shipping carriers and manage shipping the most perfect manner.

#7. Reporting Management

Getting accurate reports becomes essential in competing smartly in this online business world. You get to know the sales figures achieved through each marketplace, vendors, categories; for a specific time period.

With the help of these reports, you can plan your future market strategy and grow your business successfully.

Again, what may work for someone else might not work for you. So, a customized inventory management system should be the way to go.

It can understand the uniqueness of your business but at the same time lists the minimum required features to manage your business online on various marketplaces. All these features can be customized according to your specific business requirements.

Everything from stock management, sales tracking, shipping, automated emails to order fulfillment & tracking can be setup in a way that suits your needs.

It will streamline all your processes and will improve efficiency in fulfilling your sales orders.

Thus, excel spreadsheet issues will no longer be your worry, as a custom solution would take care of that. Start using it and expect your sales to multiply within a short period of time.

Now no more calls from dissatisfied customers. Expect only happy customers with the help of Esellerhub.