Amazon as the King of all ecommerce marketplaces is evolving by the passing minute. This is thus, the phase when sellers need to ensure maintaining their basic operational processes at its healthiest, which is a reason in itself to gain proven profitable results in the face of competition and that too, at the earliest. Here are 5 basic rules to manage Amazon inventory that can apply to all sellers at all times and for the best benefits…
Always stay in touch with your supply chain source –
Staying in touch with your warehouses is fine, but if you are not in touch with your supply chain source, it will not be long before your warehouses start to experience low stock, no stock followed by over selling and under selling and every other vice that comes with it. Being in touch with your supply chain source, you can always make better demand predictions that can further help with streamlined and more profitable inventory control approach.
Streamlining is the key –
These are the days when you cannot bulk up your inventory solely because you imagined that demand would go up. The key to include stock based on calculated demand prediction that goes a very long way in managing costs and preventing accumulation of shelved / immobile products. Making higher space allotment for stock of popular products will always work in your favor.
Add updated product identifiers –
If you have heard about the Kiva robots that have already been employed in the Amazon warehouses in California, Texas, New Jersey, Washington and Florida, you are likely to understand why at all you need to focus on adding proper product identifiers to your stock. Basically, the process of product location and fulfillment of orders will be a thousand times smoother if you have been attentive in this direction.
Use integration tools and software solutions –
If you wish to add faultless smoothness in your approach to handling inventory, manage the same with high quality integration tools and software solutions. You cannot survive in Amazon, if your inventory system is not integrated and this goes out especially to midsized and large sellers that have an overload volume to handle every passing month.
Fee calculation tools are imperative –
FBA and other warehouse facilities in Amazon do not come for free. There is an intricate fee structure that needs to be followed for the advantages, which it times can claim a chunk of seller profits. Using fee calculation tools however can help sellers understand how much profit they will make per product at their list price after paying warehouse and FBA fees, thereby allowing them to price their products accordingly to maintain profit levels.