There are hundreds of Amazon sellers the world over that suffer revenue retarding problems associated directly with inventory control and management. More often than not, these issues are the products of inexperience in the part of new sellers per se or the application of certain extremely bold or unthought-of strategies that backfire.
To stay in the safer side of things, here are four tried, tested and infallible ways to make the process of managing Amazon Inventory more productive and profitable…
Market research on new products you wish to introduce –
This is the first step to maintaining a healthy inventory in Amazon. If your listing contains traffic generating products, your inventory will experience healthy movements as well. This will prevent issues like shelved and forgotten stock, that otherwise mop a significant portion of revenues very silently.
Be careful of the amount of warehouse space you engage –
This applies to all top marketplaces be it jet.com, Walmart, eBay or any others for that matter. If you have engaged significant amount of warehouse space with your inventory, you will have to pay out more for stock that will not generate profits on an immediate basis. Therefore, maintaining smaller stock that can be refilled on a regular basis is advisable.
Always approach real time inventory integration –
Amazon warehouse management can get tricky especially when you are an FBA subscriber. In simple words, when you subscribe to FBA you lose control over your stock to a significant extent which can lead you to lose track of the inflow and outflow of the same especially when returns are made. If however, you invest in real time inventory integration through dependable sources; this problem can be addressed right away.
Demand prediction and complete integration with supply chain source –
lastly, being in tune with the supply chain source while paying ample attention to demand prediction can help you maintain streamlined profit generating inventory.
Resources may be the gift of God, but technology is the gift of ‘Man’. This is perhaps the reason why imperfections can always be expected to be a part and parcel of it. E commerce vendors who are usually in the lookout for the perfect software solutions to make their tasks in Amazon a one click affair, should also be well versed with this undeniable truth. These are the days when aspects of managing business in Amazon like listing and inventory control are seldom approached without the assistance of the right tools and software solutions.
Most of these impactful gifts of modern science work wonderfully in minimizing the task of the users to bare minimum while at the same time, reducing the risk of errors to literal extinction. Vendors with moderate to very large inventories are the fist to benefit from the same. However, to believe that Amazon inventory or other operational solutions will be complete in every sense of the term can be a little too much to expect. More often than not, even the most feature laden solutions that sport highest compatibility with the respective business can fall a little short in terms of fringe benefits.
Not being careful while choosing the softwares thus, can lead to serious unhappiness in the part of the users once the softwares are installed. Beginners charged with an enthusiasm rush are usually seen to make such errors. Nevertheless, when the shortcomings are experienced, things need to be sorted out as soon as possible. There are 2 probable solutions that can cater to this issue… one is to pack add-ons to the existing Amazon selling software and bridge the gaps and the next one is to change the solution altogether.
Each of these solutions have their pros and cons in terms of investments, time spent in redoing the process and kick starting the procedure all over again. It is necessary to weigh the advantages before any step is taken.
Improper management of inventory in Amazon has taken a toll in the growth and profits of many businesses. If you wish to prosper as an e commerce vendor in Amazon, you will be better off focusing the greater part of your attention in managing your Amazon inventory like it is your only lifeline in turbulent waters. As many vendors may have already experienced, Amazon does not entertain inventory goof-ups and is usually not very forgiving if buyers are affected by it.
Say for example, your stock depletes when you are least attentive while the product still shows as available in your listing and buyers place orders for the same which only will have to get cancelled later. In an unfortunate event as this, you may have to face the wrath of the platform in the form of warnings or even an eventual suspension. In very simple words, these are situations which are best when avoided. And when it comes to avoiding inventory issues, the best option you could rely upon is error free automation which can be achieved with the help of high quality softwares.
By now, it is amply clear to all Amazon vendors that performing in the platform without the assistance of Amazon listing or Amazon inventory softwares can be nothing short of a gross mistake. The true advantage of these softwares lie in the fact that they ensure complete and careful automation of the entirety of the inventory management process that helps keeping the concerned merchants abreast with the immediate updates that they need to focus in.
Basically, all that vendors are required to do is find high quality software from dependable providers, have it uploaded with perfection and get going. However, it will benefit to know that there is only so much that softwares can do. After being informed about the necessary changes that need to be made, you will have to pull up your socks and actually do something about it.