Locating Your Inventory Management Soul-mate Need Not Be Difficult – Answer These 3 Questions

Robin Smith Posted On - June 13, 2016

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The process of Inventory control is one of the most time consuming and complicated processes in e commerce especially when your stock is large and spread over multiple platforms of sale. Poor inventory management has often been the cause behind suspension of sellers in top performing marketplaces like Amazon and eBay. The solution to this otherwise massive life and death issue lies in using the right softwares and tools for the purpose. In fact, it has been mentioned by nearly 100% of happy users that inventory management tools have actually improved their performance and profits by over 30% (on an average).

At this very moment, there are hundreds of different varieties of tools and softwares designed for controlling inventory. Each of these multichannel and Omni channel softwares have specific functions and features that are compatible with different types of sellers depending mainly on their volume, their spread, their motive to grow in the next few months or year and most importantly, their present ability to invest to feature packed solutions. Choosing unsuitable solutions can often lead to very disheartening results some of which are as follows…

  • Sellers may land with features that they don’t need at all and pay for them at the same time.
  • Face excess expenditure that can severely compromise on average profits
  • Have high quality software installed in a system that cannot support it (this is a massive waste)
  • Does not support integration with all platforms you are present in or wish to establish presence in the near future
  • Putting it in very simple words, it never takes too much to find your ideal inventory software soul mate. A little self interview on determining your priorities, your long terms / short term goals and your present financial status to determine the quality of investment in these solutions is usually all that it takes.

  • The first question that you need to ask yourself is where exactly you stand in the world of e commerce and what are your short term goals? Do you wish to continue your venture as a single channel seller or do you wish to spread over one, two or more e commerce marketplaces over the next 2 to 3 years? Are you or are you not considering opening a brick and mortar establishment besides your online stores? Once you know where you stand and where you wish to stand in the next couple of years, you can confidently pen down your priorities and make your move for the best suited software solution.
  • The next question you need to ask is, what type of features do you expect in your software that will address your current issues in the best possible way? These are the days when features like bringing inventory movement from multiple channels into one single user interface are considered basic. Besides this, you can also access features like built in shipping management, listing and pricing aid and many more. From solutions that support multichannel tools to Omni-channel softwares, there is everything that you can avail from e commerce solution providers.
  • Last question that you need to ask is also the most important. It is all about how much you are willing to invest in the multichannel tools and inventory management solutions and how do you wish to make your payments. Taking it from winners, paid options are always more feature packed than the free ones so going for them will only benefit. At the same time, you need to determine how you wish to pay for your inventory software. Do you wish to pay monthly, quarterly or annually needs to be answered at the onset.
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