Good inventory management is essential for the operation of a business, whether it is a physical store or e-commerce. It is a challenging task to have management control of a company’s inventory. But remember that an up-to-date inbound and outbound flow control for goods brings security and predictability to replenishment. Check out, in this article, infallible tips for managing your e-commerce inventory.
- Need For Inventory Control
There is a technique known as Drop Shipping; it consists of a virtual store that does not work with its stock; that is, the store offers and sells products allocated in the supplier’s stock.
The Cross Docking method also works through the crossing of docks: the supplier forwards the goods to the storekeeper to carry out the check and check if everything is right according to the order. Right after that, the product is packaged and sent to the customer.
But, if that’s not your case, you can use your stock or check stock (เช็คสต๊อก which is the term in Thai) and define them in categories to make it easier to find the products and take inventory. In addition, you can opt for a hybrid model using these techniques together, evaluating each supplier and the demands of your online store.
- Automate Your Inventory Management
Automating inventory management control facilitates the flow of business and prevents errors. It is common to occur oversights in essential points when it comes to online store stock. Therefore, invest in management tools and platforms to improve your business. Many companies provide a trial period. If you don’t have the budget to invest in automation, try to have a flow of control in a spreadsheet, for example.
- Have Control Of Input And Output
To keep track of your stock Product (สต๊อก สินค้า which is the term in Thai), it is necessary not to be careless when recording your business’s inbound and outbound information. Depending on the number of orders and the stock size, this task becomes more complex, which requires that all records are properly up-to-date.
Choose good software to facilitate this control. Free and paid versions come with integration tools with other sectors, such as finance, invoices, etc. In this way, inventory control is kept up to date, and the most important thing is that information is updated and centralized in a single place.