fundamentals of managing multi-store inventory

3 Fundamentals of Managing Multi-Store Inventory

fundamentals of managing multi-store inventoryThe amount of information out there on managing multi-store inventory is enough to make a reader’s head spin. And it’s especially true for eBay sellers new to multi-channel selling, since the info overload can make it difficult to even know where to start.

A good place, though, would be to get an understanding of the process as it applies to your particular store. To that end, here are some key things to think about:

Inventory management solution

It’s hard enough keeping track of inventory and orders by hand when selling on a single platform, but when managing multi-store inventory, it can soon become a nightmare.

And you’ll quickly be in over your head. So why not make a commitment from the get-go to invest in your ecommerce business?

Plus it’s a good opportunity to take a closer look at how you want your multi-channel store to operate. Then you’ll be able to develop an effective business strategy and know what type of inventory management solution you’re looking for.

Product linking across channels

Here’s an example of how manual tracking can lead to lost sales. In fact, it’s a very common occurrence, even with sellers who try to stay on top of their accounting.

Imagine a customer on another channel sees your product listing as “in stock,” orders the product, and then is informed that the product they ordered is out of stock?

That’s not what you want to happen, to be sure. But it can if you’re unable to view adjusted stock and inventory data in real time, across channels.

Syncing inventory increases sales

Ultimately, there are many things to learn about managing multi-store inventory and this is just one aspect. Yet it’s critical. And the reason is because effectively syncing inventory across channels is what will increase your sales.

But it also takes a commitment to overseeing the process. Indeed. it’s the same promise you made to your business; that is, to always do what it takes to keep things running smoothly. And this, perhaps, is the most important thing to keep in mind.

Read More:

 7 Frequently Asked Questions About Multichannel Selling

References:

https://crazylister.com/blog/stock-sync-multiple-channels/

https://www.shopify.com/enterprise/multi-channel-inventory-management

 

Valerie Edmonston

Content blog writer and published book author. Valerie can be contacted via email at valedmonston@gmail.com.
Valerie Edmonston
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