How Amazon’s inventory management tool can help you grow your company
Management of inventory is a significant component of supply chain management. Inventory management can be a time-consuming task that slows down your company’s operations. Every stock item in your company’s supply chain is monitored and managed by an automated inventory management system.
Businesses can save costs, understand trends, and make smarter investment decisions by accurately tracking items. Aside from that, understocking or overstocking your Amazon store can both be problematic. You’ll lose sales if you run out of inventory, and if you have too much merchandise, you’ll have to pay for storage.Sellers must effectively manage inventories in order to thrive in this highly competitive e-commerce environment.
Sellers must keep track of their inventory turnover times. A turnover period is defined as the time it takes for all of your inventory to be sold out. It’s critical to get this estimate right because it determines how much inventory you’ll need to retain. It can be calculated on a weekly or monthly basis. When sales increase, especially during the holiday or festive season, you’ll need to raise stock levels to keep up with demand and avoid running out of inventory.
Inventory management, on the other hand, appears to be a difficult task. But have no fear: sellers have a plethora of tools and resources at their disposal to assist in the process’s simplification. You can stay on top of your game if you use the correct methods and tools.
Working with a third-party solution like sellershub, which conveniently connects the data to your centralized inventory management dashboard, is another excellent way to manage inventory. With only a few clicks, you can integrate Amazon’s marketplace with sellershub. However, in order to be successful in controlling inventory, you must be familiar with the controls of Seller Central as well as the data provided by Amazon.
The following is a list of features that sellershub has which makes your business hassle free.
1.Optimization of stock control
The correct solution will allow you to track or transfer goods across different locations while also automating inventory level updates in real time.
All of your products should be listed in a single catalogue via automated inventory systems. It will also allow you to organise products into different categories and offer kitted (bundled) items.
3.Automation of supplier and inventory procurement
Purchases, transactions, and delivery history should all be tracked by the automated inventory system.
4.Order management for clients
When a purchase is approved, the automated inventory platform should provide capabilities for establishing sales orders, managing their status, and generating bills.
5.Advanced Analytics & Reporting
The once-hour-long reporting process can now be completed in just a few clicks. Computerized inventory software can give you a lot of information on how to manage your inventories.
6.Security of the Inventory Database
For practically any organisation, security aspects are a big concern. The ideal programme should have tools for configuring user access to various aspects of the product.
7.Capabilities for Integration
Integrations ensure that data is coordinated across all platforms. It aids in the avoidance of errors, the creation of duplicates, and the establishment of data silos.
When you use sellershub to manage your Amazon seller central account, it helps sellers in a variety of ways. You may get a quick review of sales patterns, the number of days your existing stock levels can cover, and properly anticipate your inventory purchases based on your real sales data using this robust centralized inventory management solution.
Low stock alerts are sent to you through mobile app or email by sellerhub‘s centralised inventory management platform. This allows you to determine when it is appropriate to replenish products, reducing the number of times they are out of stock and preventing lower search rankings as well as lost sales.
Sellershub also has inventory forecasting capabilities, which can assist you estimate how much inventory you’ll need when you make an order. Forecasting is based on your sales patterns and reordered quantity. It reorders the product based on your current Amazon sales and inventory levels. However, additional aspects should be considered when determining how much to recorder a specific product, such as seasonal requests, trends, and holidays, which may have an impact on your stock levels.