Managing Inventory on Multiple Marketplaces and Playing Smart

According to a survey, 43% of online retailers ranked managing inventory as a #1 challenge in E-commerce business.

It is not at all surprising that many online retailers face critical issues like overstocking, understocking, stock theft, delivering the wrong item, inventory tracking mistakes, etc. because they are using outdated methods of managing inventory. Are you one of them?

If yes, then you must have experienced that the problems arising out of poor inventory management not only scare your customers away but also make them angry.

In just 20 seconds, Americans spend $1,82,648 on online shopping. Do you want to miss the opportunity of excelling in your online business just because you are not using an automatic inventory management system? Obviously, NO.

An automatic inventory management system will help you in –

• Avoiding over-stocking, under-stocking, stock theft, wrong item delivery, inventory tracking mistakes etc.
• Simplifying all your tasks relating to stock management
• Increasing sales and getting ahead of your competitors
• Accessing accurate and real-time information
• Improving delivery performance
• Lowering your cost in terms of inventory handling
• Planning accurately for the future

So, the best way to overcome the challenge of inventory management would be to start using an automatic inventory management system – accessible from any place, device, and platform.

81% of online retailers using automatic inventory system have experienced increase in sales by 2-10% 

Before you choose an inventory management system for your online business, make sure it includes below-mentioned features:-

Managing Suppliers

Integrate and manage the list of your suppliers. Track the information as well as details about the products supplied by them.

Stock Syncing & Management

• Merge all your products for sale on different marketplaces and get real time information about the stock.
• Get live updates about the low stock or over stock which can help you in introducing new sales strategies.
• Create bundled products that will help you in increasing sales.
• Create and manage virtual stock (DropShipping).

Managing Multiple Marketplaces

Increase your sales by listing and managing your products on different marketplaces like Amazon, eBay, Rakuten, etc. Moreover, you can also integrate your CMS-based ecommerce website or customized online store.

Managing Orders

Automate the process of order and fulfillment. You can integrate and track your orders, check detailed reports and automate the process of generating PO in case of dropshipping.

Shipping Management

11% of online shoppers believe that quick and accurate delivery is the strength of online retailers. This feature would allow you to manage quick delivery by giving you the freedom of integrating with various leading carriers like UPS, Fedex etc.

Reports Generation

You can generate various reports which would give you accurate data relating to sales, profit and loss, marketplace performance and many more details on daily / monthly / weekly basis. This would help you in deciding future marketing strategies.

Conclusion

Overall, using a user friendly inventory management system with all the above features would be a win-win situation for you as it will enable you to compete smartly. Don’t worry if you are still confused with which inventory management system to choose. You can request a quick demo of an inventory management tool by E-Seller Hub with in-depth consultation. E-Seller Hub can also provide you with customized inventory management system according to your e-commerce business.

Get an inventory management system tailor-made just for your business and work smart to earn more!!!