- by eSellerHub
Imagine this: you are trying to cross a road and it is raining. You do your best to cover yourselves with whatever things you have on you. Eventually, you are still getting wet, and you are also not able to cross the road as efficiently as you would do normally. It is after you cross the road you wonder, only if you had brought in that umbrella of yours. Typically, an inventory management software does the umbrella’s job for you.
Without it, you would definitely cross the road, but having it by your side would allow you to focus on other surrounding things that are more important for your safety. In other words, Microsoft excel would definitely get the job done for you if you are just starting out. But then, if you are someone who has just begun to sell on a couple of other marketplaces apart from Amazon, then a good inventory management software would do wonders for your online selling business. For you though, the biggest question that you want answered will be: what is inventory management and how it will help?
A good inventory management system would manage your inventory across multiple marketplaces in such a way that the risk of underselling or overselling your products is almost minimal. The biggest ambiguity that it will solve is what quantity to put at what marketplaces assuming there is a certain stock level that you maintain in your warehouse. As an E-Seller, you know your business better than anyone else, and you’d know what sells more at what times. But then you are also taking a calculated risk when there is no need to take one. This stock management software would allow you to post your warehouse quantity on all marketplaces, and if an order comes at any of the marketplaces, it will automatically reduce your stock levels across all your marketplaces in minutes.
Other than this, there are lots of other features that would make your life a lot easier. But again, those are more of a convenience when we consider that you have just started to sell on multiple marketplaces. For managing all processes from supplier management, order management, to fulfillment and warehouse management, an inventory management system would work great. But those are additional secondary features, which you can still manage otherwise.
The fact that, it takes the risk of overselling or underselling out of the equation is probably the real reason why you should plan on using such an inventory management software, as believe it or not it would really help you expand your online selling business exponentially.