top 5 mistakes to avoid with inventory management for amazon store
TRANSCRIPT
Top 5 Mistakes to Avoid with Inventory Management for Amazon Store
• For each product you sell, you maintain an inventory. The goal is tohave enough inventory to satisfy customer’s demand.
• Look at top 5 mistakes that most of the companies make whilemanaging inventory for their Amazon store, and how you can avoidthem:
Inventory is the lifeblood of Online Business
• If you don’t know how many items are left, you may find out that theitem is no longer in stock, after an order for it has been placed.
• Or you might have ordered a number of items, which are not sellingas anticipated. Now, they are sitting around gathering dust.
• Thus, it is important to update the inventory levels regularly to ensurethat you are neither over-selling the items nor over-ordering them.
1. Over-Selling and Over-Ordering the Products
• As you are selling across multiple sales outlets and not keeping track of the inventory.
• Often leading to discrepancies.
• The solution is to monitor the stock levels & incoming sales, and update the inventory 24/7.
2. Not Managing All the Sales Outlets Efficiently
• Efficiently manage the supply chain.
• Ensure that you have enough items to fill your order straight away.
• If you wait until the products are no longer available, you may not be able to deliver the items on time, leading to bad reputation.
3. Poor Supply Chain Management
• As demand and supply constantly changes,
• You must ensure that you are charging enough to cover your production costs & expenses.
• Don’t overcharge the items that you end up losing customers.
4. Pricing Issues
• Without experienced personnel it would be difficult to manage the inventory property.
• You can choose to outsource Amazon inventory management task to a company that understands the work and can help you avoid mistakes.
5. Lack of Resources
Want to gain valuable insights into the stock levels or need any assistance in keeping a tab on inventory.
Reach us today at www.Data4Amazon.com
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