What’s The Best Way To Manage Your eCommerce Inventory?
As your eCommerce business grows, managing your inventory becomes an integral part of your business, so making a sound decision is crucial. There are many ways a small business can manage their eCommerce inventory, and one poor decision can be detrimental to your entire business!
Here are three common options when it comes to inventory management. Let’s see which one is the best:
By Hand – Amazingly, businesses actually still manage their inventory by hand by writing down inventory counts, supplier information and other data on paper. Although this inventory management method seems simple, it’s very inefficient. Small businesses with a little inventory might be able to get away with during the early stages of their business, but they’ll be forced to use use some kind of software as they grow.
Excel Spreadsheets – The excel spreadsheet is what like to call the app trap. A spreadsheet can be very useful, for example, to quickly map out some sort of financial data and test scenarios, but the problem is that too many businesses are using spreadsheets to create mini software applications. As your business continues to grow, you’ll realize that excel is an improvised solution, at best. It leads to poor communication, bad decision making, and a whole lot of wasted time doing repetitive work. Excel doesn’t doesn’t automatically sync with Quickbooks, Freshbooks, or Xero, so you’ll have to enter the same information in two different places whenever you order, ship and/or sell products.
Inventory Management Software – Inventory management software is one of the best ways for you to act quickly and be flexible when working with customer orders. Just imagine when multiple orders start coming in all at once. Our Bizelo eRetail Centralized Inventory Management app allows you to sync inventory across multiple online stores, including Magneto, Shopify, and Etsy, pick and pack products, and fulfill orders with confidence so you’ll always know where your products are, how many you have and when you should reorder them. When you add our Bizelo eRetail Accounting Sync web app, you can push orders and stock levels into Quickbooks, Freshbooks, or Xero automatically saving you both time and money!
Bizelo designs real mini apps that work simply and simply work. Most of the mini apps we have created and grown started with a simple need that a lot of our customers had tried to address over and over again using spreadsheets.
Make sure your business isn’t falling into the Spreadsheet-as-App Trap!