In practical terms, inventory management can save you from losing sales because you don’t have enough product to meet demand. Beyond that, inventory helps keep your customers happy by preventing kinks in your supply chain that can lead to delays.īecause of this, and how complex the supply chain can get for large companies, inventory control can literally be the difference between astronomical success and catastrophic failure.Ĭompanies with good inventory management systems are far more likely to find success than their competitors who are less invested. Inventory management is vital for companies for a number of different reasons – the primary one being that it reduces costs in both raw materials and human resources. Why is Inventory Management Important?Īt this point, you may find yourself wondering why inventory management is so important. Whether you’re a Shopify seller with a single product or a Fortune 500 company with supply chains that span the globe and multiple warehouse locations, understanding inventory management is vital to your success.
Well, while the definition of inventory management is easy to understand, the execution can be a bit more challenging – particularly as your company grows. Inventory management is, in the simplest terms, a system for tracking all of the products and raw materials you use in your business. What is Inventory Management?īefore we get to the problems and solutions portion of this post, we should take a moment to talk about inventory management. Today we’ll highlight some of the problems Shopify users face when it comes to managing inventory on the platform, as well as highlighting seven apps you can use to solve this problem once and for all. That being said, for all the great things Shopify provides, there’s one key area where the platform struggles: inventory management. With an easy-to-use interface and a low monetary barrier to entry, it’s easy to see why so many people are using the platform. If you’re looking into shopping cart software, you’ve invariably come across Shopify in your research.įor as little as $29 a month, Shopify allows users to create their own online store where they can sell and ship products.
Have you heard about Shopify and wondered if it could be the platform for you to launch your very own online business?
Amazon FBA Inventory Management – Fulfillment by Amazon (FBA) software features, Better Seller Performance Ratings, FBA Shipping and FBA reporting featuresĪre you running an online business using Shopify inventory management?.Training & Support – SkuVault training, On-boarding packages, Customer Service and Support information.Datacoach – Deep Insights into your warehouse and inventory, early indicators for warehouse problems, metrics to benchmark performance and labor optimization.Inventory Management Reporting – Advanced analytics, Replenishment Report, Just in Time (JIT), Drop Shippings, Re-Ordering, Out of Stock, and Purchase Order Reporting Features.Pick, Pack, Ship – Inventory picking, Hyper Picking, Interactive wave picking, Quality Control, Holds, Daily Deals and Flash Sales, Print-to-order, and shipping features.eCommerce Inventory Management – Barcoding, Cycle Counting, Real-time data syncs, and Quantity buffers features.
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