Your approach to inventory management in Amazon and eBay can determine the future of your business in these two top marketplaces. Very often it has been observed that maximum number of beginners who are rather inexperienced in Amazon and eBay selling falter in inventory control that eventually paves the way for issues like over and under selling, order cancelations and drainage of funds. This makes it very necessary for sellers to be aware about the inventory management best practices in these marketplaces to stay in the right track from the first day on.
Basically, there are 4 rules that need to be remembered…
Stock as much as necessary –
If under stocking is not considered healthy for eBay Amazon selling, neither is over stocking. Over stocking of inventory usually happens when sellers make wrong predictions of demands and pile up on their stock to prevent running out of the same. This basically leads to heavier warehouse charges which gets worse when the products don’t fetch any sale for a period of time.
Be connected to the supply chain from the source –
Staying in tune with eBay Amazon warehouses is only one side of the entirety of inventory management. The other side involves staying in touch with the supply source from where the concerned retailers / merchants get their stock in the first place. Losing track of the source can lead to infinite issues that can often end with long term out of stock status or scrapping of concerned listing.
Integrate with the best inventory control softwares –
eBay Amazon inventory is best managed with the assistance of high quality software solutions especially the feature rich options that are made available by reputed third party e commerce solution developers. Features like real time inventory movement updates, low stock level alerts, regular reports on performance etc are expected in the chosen options.
Move stale inventory than withdrawing it –
Another critical aspect that all sellers must take note of is the art of moving stale inventory. There are times when certain listings fail to fetch sales causing the inventory in the warehouses to stay put in the shelves. This again enhances storage cost in the part of the sellers while not fetching any profits for months.
In cases when stale inventory is experienced, most sellers find it convenient to withdraw the items for instant relief. However, the best approach in this respect is to move the inventory with better listing or re-listing the products. Offering combo deals can fetch remarkable results in moving stale inventory.