Here’s everything you need to know to find the right inventory management software for your multichannel ecommerce business
Inventory management software (IMS) is vital for most ecommerce businesses. Whether you’re selling through an ecommerce website, or on third-party marketplaces, you need to track and manage all your product lines. With the right IMS you’ll be able to optimize your stock levels, manage sales on multiple channels, and maximize your revenues and profits.
We’ve noticed that there’s lots of confusion about exactly what an IMS is and what it does. That’s why we’ve created this complete guide that tells you everything you need to know. From what an IMS can do, and the main benefits and features, through to advice on choosing the right IMS for your online retail business and any potential pitfalls.
We’ll help you see through the jargon and the marketing to find the perfect IMS for your online retail and marketplace needs. Although there are plenty of IMS products for traditional retailers, we’re going to focus on inventory management software designed for ecommerce, including third-party marketplaces like Amazon and eBay.
Let’s get into it.
This post is by Katherine Khoo, Managing Director at ecommerce and inventory platform iPages.
2018 is the year of multi-channel retailing. With over half of all product searches in the U.S. and U.K. starting on Amazon, it’s no wonder that retailers are swiftly changing their strategies to include multiple sales platforms.
Most of us will be tempted to think of simply selling through marketplaces (Amazon/eBay) when we think about multi-channel. However, there are far more ways to get our product into the hands of consumers. There’s Amazon Vendor, for example, and also social shopping on Facebook and Instagram, and voice search with Amazon Echo and Google Home.
One in four households now own a voice-controlled assistant, and Instagram shopping is a buzzing new channel with massive potential. So what does this mean for multi-channel retailing in the year ahead? And what are the challenges of selling on these diverse new channels, which are growing so dramatically in 2018?
From shipping orders and synchronizing inventory, to connecting sales channels with QuickBooks, Teapplix has back office automation nailed
With over ten years in the software business, Teapplix has carved out a unique position for themselves. They’ve made back office automation their focus. Teapplix helps sellers maximize the speed and accuracy of their shipping, inventory synchronization and accounting operations.
Back office operations may not be glamorous, but they are crucial to get right. Shipping has to be fast, inventory levels have to be up to date, and accounting has to be accurate. If you can do a great job of all those, you’ll please a lot of important people: customers, marketplaces and the tax authorities!
With a decade of continuous enhancements, Teapplix has reached a level of sophistication and reliability to meet the needs of most ecommerce businesses. Teapplix is used today by eBay and Amazon sellers handling from 10-20 orders per day to thousands of orders per day.
Do you know your inventory turnover ratio? Here’s the simple formula to calculate your inventory turns, what it means and why it matters.
This post is by Chinh Nguyen, Co-founder and VP, Marketing and Revenue at Finale Inventory.
As an ecommerce business owner, customers all over the world can view and buy your products in an instant. This allows your inventory to move at a much faster pace than in brick-and-mortar stores.
When your inventory is managed well, it can lead to long-term success for your business, making your inventory turnover ratio an important topic to know and understand. There’s a lot you need to know about inventory turnover for ecommerce, and we’re here to answer all of your most pertinent questions.
Here’s three tips to help you avoid overstocking, and find bestselling products that will never tie up valuable capital and warehouse space.
This post is by Dani Avitz, an ecommerce expert & COO of Algopix, a product market research tool for eBay and Amazon sellers.
In the world of ecommerce, not every product that a seller sources will actually sell. Sure, there are those products that seem to have never-ending demand despite the season and asking price. But, the fact is that around 20% of a seller’s inventory will become no-sells, or what is more appropriately known as overstock or dead stock.
Why does overstocking happen? The answer is usually two-fold, consisting of inventory purchases that were not based on sufficient market or product data; and inventory purchases that were driven by the wrong data – with the latter often being the worst of the two.
It doesn’t have to be this way.