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The Strategies To Manage Online Store Inventory

history July 13, 2018

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E-commerce selling is developing with multi-channel adoption. Since then, the demands of the customer and your selling opportunities are increasing simultaneously. Thus, the need for effective inventory management strategies is raising.

If you have an online store in Shopify, the strategy to manage your inventory is important

Every e-commerce business owners want to know the way to manage inventory for the online store without making no room for errors.

In the technological age, there are many inventory management software and methods. However, it is a great deal for online store inventory management to mix the modern inventory management methods and traditional methods.

Hybrid Warehousing

Hybrid warehousing is mixed from third-party dependent stocking and self-warehousing. However, you have the right to decide what products to keep in the warehouse of your suppliers and what should stay in your warehouse.

For example, you can keep products like books, electronic gadgets in own warehouses. However, the heavy products like washing machines, air conditioners are delivered from the suppliers’ location once an order is placed.

This method seems to be the best way to manage the inventory.

Choose the Right Stock Allocation Technique

One of the key blocks for building the effective online stores’ inventory management strategies is the smart allocation of stocks. For example, if you have 3 sales channels, your stock allocation can be done in the following three ways: equal allocation, trend allocation, and universal allocation.

Outsource eCommerce Fulfillment

It seems to be the successful inventory management methods for e-commerce retail. By this way, you will handover the complete fulfillment process to a third-party vendor but you can also keep track of inventory for online store well.

Cross Platform Tracking

The integration of a seamless inventory management software is crucial to avoid cross-platform overselling. Concentrating inventory management activities done across multiple sales channels can be the best method to avoid mistakes.

With the detail of inventory, you can know each channel needs how many numbers of stocks.

A good inventory management plays an important role in the e-commerce business success.

Besides, you can consult more useful apps to manage your store such as email with love and chat facebook on Shopify. Access https://autoketing.com/ to try them out for free.

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