Whether you’re just entering ecommerce as a freshman seller or already feel like a varsity MVP, no one store or individual is immune to some of the dangers of online retailing. As you grow, operations can overlap, over-extend and overwhelm. There may not be enough hours in the day or employees on deck to complete all of your tasks. So what happens when your (unintentionally poor) ecommerce process lands you in detention?
If you end up in bad standing because of stock-outs, you don’t just run the risk of losing a few votes for ecommerce prom king or queen. Multiple stock-outs and overselling can put you on the fast track to being expelled from your marketplace. Suspension from Amazon is no laughing matter, and it can be really difficult to remove blunders from your permanent record and get back in good standing with the biggest online shopping marketplace in the world. Overselling will also damage your reputation with buyers, who can tarnish your chances of competing online by leaving poor feedback. While stock-outs are a serious offense leading to potential doom and gloom, there is one bright side – it’s easy to prevent. You just need a good multichannel inventory management software system.
Why? Because it automates the tasks of managing sales orders and quickly updating inventory quantities across sales channels. The best kinds of multichannel inventory software are comprehensive, agile and automate data transfers in real time. Here’s how one can save you from overselling and stock-outs.
- You sell an item on one of your sales channels – awesome!
- Your inventory software will recognize the incoming order and pull it in to the software for next steps.
- The available inventory listed on the integrated sales channel where the purchase occurred reduces by one (or by the number of items bought).
- The available inventory listed on all other integrated sales channels ALSO reduces.
- Sales order information is reformatted and sent to your software dashboard for fulfillment purposes, if you ship goods yourself. If you dropship, sales order information is sent to your supplier or dropshipper.
- Tracking information is sent to the marketplace where the sale occurred, then communicated with the customer.
And what happens when stock is low or its time to reorder product?
- An inventory software will queue up a purchase order to send to your supplier.
- It will recognize new purchased stock, and –
- Update sales channel quantities to reflect the new stock levels.
All of this happens 24/7. You can be asleep, reading a book or relaxing in the Dominican Republic (like this ecomdash customer). Data transfers happen automatically, and your business continues to operate for you, so that you don’t have to worry.
With comprehensive inventory software, you can stay out of overselling detention for good, get to the top of your class and push ahead of competitors. Just see how this ecomdash customer scored high marks with inventory software and saved money while adding more SKUs.
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