Where does inventory management stand on your retail business scope? This is an obvious topic but you need to think about it carefully – even with a topmost priority if you are planning to implement or are practicing a multichannel selling model.
Who can skip inventory management? You. Only if you are selling the dropshipping products using some software that automatically handles the inventory management aspect.
Inventory management solution requirements
- Any inventory management service you use should provide you with the functionality to easily keep track of the stocks.
- When an order is received, you’ll need to reduce the stock quantity of the specific product.
- Along with the sold product, if there are related products which are affected by product sales, those should also be managed.
(Think about the packaged products with main and complementary products)
- Are you able to keep track of the historical data? That is one important feature – it’ll help you to restock the products.
- Connect you with the shipping system like FedEx, USPS or Canada Royal, etc. depending upon your fulfillment requirements.
But here is the monstrous part for your multichannel selling practice regarding inventory…
Keeping your inventories synced in between your base store and the sales channels if you aren’t using ExportFeed.
Your Base Store: Your store on WooCommerce, Shopify, BigCommerce or other platforms.
Your Sales Channels: Amazon, Google Shopping, Etsy or other marketplaces.
Nightmares of inventory management
- Your products go out of stock on the Sales Channels when you have restocked them in your base store.
- Products are sold-out in your base store but they are still displayed in-stock in your Sales Channels.
- Information about your products sold is not properly reflected in your base store.
- Order information from your sales channels aren’t properly reflected on your base store and you have to check all the sales channels individually.
- You change the pricing information on your base store and it doesn’t get reflected in the Sales channels.
These are just a few of the nightmares for sellers. There are more and they too have a high impact on the goodwill and revenue of your business. The effect of these nightmares amplifies if you are practicing multichannel selling on marketplaces with active buyer communities like Google, Amazon, and Etsy. But, you don’t need to worry as ExportFeed is here for the rescue.
How does ExportFeed help?
- Product list set up and export at a nominal time!
- Sync product between your shop and sales channels
- Edit product data from a single site for all merchants
- Easily create special sales campaigns & increase sales
- Receive first-class support for feeds management & more…