Poor eBay inventory management can contribute to losses and business failures. In fact, even some of the most well-meaning business owners find inventory management to be a complicated task.
But it needn’t be. No matter how many channels you sell through.
Maybe you import your eBay listings to online stores like Etsy, Bigcommerce or Shopify. Or maybe you sell your eBay products through only one store.
Regardless of size, you still need to effectively manage the overall inventory process so your business succeeds.
1. Create a Plan
You can’t be effective without a plan. So start from scratch. Write down everything you can think of that is related to your eBay store’s inventory management process.
- How many items should you keep on hand?
- What happens when levels run low?
- How will you maintain the right amount of each item?
Ask good questions and develop good answers.
2. Stay Organized
Your plan describes the activities you engage in to track inventory.
A useful tip that is especially relevant is to create a to-do checklist based on your plan. The benefit is an inventory management guide so you don’t have to start from scratch each time.
Another useful tip is to remember to use it.
3. Forecast Demand
This is an effective strategy, because it helps small business owners manage their inventory purchases without breaking the bank.
Furthermore, all it takes is a twelve-month sales forecast plotted out on a cash flow statement. As a result, you can “see” future activity: when you will make new sales, receive new revenue, and pay existing expenses.
Which is just the raw data you need to plan your inventory purchases.
4. Esa Product Manager
The Esa app for multi-channel eBay sellers is very easy to use. Plus, it’s an invaluable tool for managing your inventory and boosting sales.
Finally, the objective of effective inventory management is to provide uninterrupted production, sales, and customer-service levels at a minimum cost. And these four “secrets” can help you do just that.
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