Even if your ecommerce sales are through the roof, your success will be short-lived without capable inventory management. This is especially true if, like many of our customers, your wares extend across multiple marketplaces like Amazon, eBay, and even brick-and-mortar stores. To avoid stockouts or stagnation, it’s wise to invest in inventory management.
It may seem obvious, but when your goods are sold through multiple channels, you need to remember that your inventory is limited. If all the channels aren’t connected properly, you may end up dealing with stockouts, double-sales, and unhappy customers.
The easiest way to control the ebb and flow of your inventory is to utilize inventory management software. Not only can you use it to tie all of your stock together across multiple stores, but you can also get a more robust picture of your inventory and how it moves across all of your points of sale. By analyzing the order history from each channel, you can determine purchasing trends and adjust your inventory accordingly.
The earlier you start using inventory management software, the better. An early start gives you more sales data, time to analyze trends, and saved revenue from avoiding inventory problems. Remember, as your business grows, so will your inventory.