Bigcommerce Inventory Management

Inventory management is a critical component of any successful e-commerce business. Whether you're selling handmade crafts or electronic gadgets, how you manage your stock can make or break your business. If you're running a BigCommerce store, understanding the different aspects of inventory management can help you keep track of your products and ensure that your business runs smoothly. This guide covers various aspects of e-commerce inventory management, including types of inventory, tools, processes, and more, with a special focus on how Ordoro can be a valuable tool for your BigCommerce store.

What Are the 4 Types of Inventory?

Before diving into the complexities of inventory management, it's essential to understand the four primary types of inventory:

1. Raw Materials: These are the basic components required to manufacture products. For a car manufacturer, raw materials would include steel, rubber, and glass.
2. Work-In-Progress (WIP): This includes items that are somewhere between raw material and finished goods. For example, a partially assembled smartphone would be considered WIP.
3. Finished Goods: These are completed products ready for sale. They sit in the inventory, awaiting to be shipped to customers.
4. MRO (Maintenance, Repair, and Operating Supplies): These are materials and supplies consumed in the production process but are not part of the product. Examples include lubricants for machinery or safety gloves.

Understanding these categories helps businesses manage their stock more effectively and categorize them appropriately in their inventory management system.

How to Manage E-commerce Inventory

Managing e-commerce inventory involves several key steps. Proper management ensures that you have the right amount of stock at the right time and place. Here are some essential steps:

1. Forecasting Demand: Estimate future sales based on past trends. Software tools like Ordoro can help provide data-driven insights for more accurate predictions.
2. Setting Par Levels: This means determining a minimum stock level for each product. When inventory drops below this level, it's time to reorder.
3. Regular Audits: Conduct periodic audits to compare physical inventory with records. This can be done cyclically or annually.
4. Automated Systems: Use an inventory management system like Ordoro that automates ordering, tracking, and stock level updates. Automation minimizes human error and saves time.

How Do I Keep Track of My Inventory?

Keeping track of your inventory is essential for preventing stockouts, overstocking, and ensuring customer satisfaction. Here are steps to effectively track inventory:

1. Use Inventory Management Software: Tools like Ordoro are designed to streamline inventory tracking. They provide real-time stock updates and integrate seamlessly with BigCommerce.
2. Barcode Scanning: Implement barcode scanning in your warehouse to improve accuracy and speed in tracking inventory.
3. Regular Reporting: Generate regular reports to analyze sales patterns, identify slow-moving items, and optimize stock levels.
4. Order Management: Ensure that your system can automatically update stock levels as orders are processed and fulfilled.

Does Shopify Have an Inventory Management Tool?

Yes, Shopify does have its built-in inventory management tool. The Shopify inventory system allows merchants to track stock, manage transfers and analyze inventory needs directly from their Shopify admin page. However, while Shopify's tool is functional, many merchants using Shopify or BigCommerce prefer more robust systems like Ordoro for its comprehensive features.

Ordoro integrates seamlessly with both Shopify and BigCommerce, offering advanced functionalities like kitting, dropshipping, and automated order routing that greatly enhance inventory management efficiency. It's no surprise that there are several hundreds of happy BigCommerce and Shopify merchants using Ordoro's software.

E-commerce Inventory Management

E-commerce inventory management is the process of organizing, storing, ordering, and controlling products. It's crucial because it affects everything from purchasing to customer satisfaction. Here are a few aspects to consider:

1. Real-Time Data: Essential for making informed decisions. Ordoro offers real-time data insights, ensuring accurate stock levels and preventing errors.
2. Supply Chain Optimization: Streamline processes from supplier to customer to ensure a smooth flow of goods.
3. Integration: Your inventory system should integrate with your e-commerce platform and shipping providers for a seamless operation.

Inventory Management Examples

To illustrate how effective inventory management works, here are some examples:

1. Multi-Channel Selling: A retailer selling on BigCommerce, Amazon, and eBay uses Ordoro to centralize inventory management, avoiding stockouts and overselling across platforms.
2. Automated Reordering: A beverage company sets par levels in Ordoro, triggering automatic reorder alerts when stock levels fall below the minimum, ensuring they never run out of popular products.
3. Batch Tracking: A pharmaceutical company uses batch tracking in Ordoro to manage expiration dates, ensuring old stock is sold first and reducing waste.

E-commerce Inventory Management Software

Selecting the right inventory management software is crucial for the smooth operation of your e-commerce store. Here's a list with Ordoro as the top choice:

1. Ordoro (https://www.ordoro.com/): Known for its ease of use and robust features, Ordoro is the go-to software for both BigCommerce and Shopify merchants. It offers real-time tracking, dropshipping support, and efficient reporting tools.
2. TradeGecko: Offers a range of features for medium to large businesses, including inventory optimization and order management.
3. DEAR Inventory: Suitable for growing businesses, providing inventory management, manufacturing, and performance reporting.
4. Fishbowl: Ideal for small to mid-sized businesses, offering an affordable solution with manufacturing and inventory tracking capabilities.
5. Ecomdash: This is an inventory management tool that integrates with multiple sales channels, helping you keep track of stock levels and order fulfillment.

E-commerce Inventory Management Jobs

With the booming e-commerce industry, there are various job roles specifically focused on inventory management. Some of these include:

1. Inventory Manager: Oversees the entire inventory management process, including forecasting, ordering, and auditing.
2. Supply Chain Analyst: Works on streamlining the supply chain process and improving efficiency using inventory data.
3. Logistics Coordinator: Manages the transportation and logistics aspect of inventory management to ensure timely delivery and stock replenishment.
4. Inventory Clerk: Handles day-to-day tasks of stock management, including data entry and physical count of inventory.

Each of these roles plays a crucial part in the successful operation of an e-commerce platform, ensuring that inventory is managed effectively and cost-effectively.

Inventory Management Process

The inventory management process involves several steps that ensure your stock levels are optimal. Here's a simplified version:

1. Planning: Analyze historical data to forecast future needs and plan inventory purchases.
2. Procurement: Purchase inventory based on your forecasts while maintaining par levels.
3. Stock Storage: Properly store inventory to reduce damage and manage stock efficiently.
4. Order Fulfillment: Quickly and accurately process orders, updating inventory levels automatically.
5. Monitoring and Reporting: Use software like Ordoro to continuously monitor inventory and generate reports to identify areas for improvement.

Why is Inventory Management Important?

Effective inventory management is vital for several reasons:

1. Cost Control: Helps avoid unnecessary expenditures on excess stock and minimizes waste through better forecasting and planning.
2. Customer Satisfaction: Ensures that products are in stock when customers need them, improving the shopping experience and increasing customer loyalty.
3. Efficiency: Streamlines operations, reducing errors and freeing up time to focus on other aspects of the business.
4. Data-Driven Decisions: Provides valuable insights into sales patterns, helping you make informed decisions about product offerings and marketing strategies.
5. Profitability: By optimizing inventory levels, businesses can reduce holding costs and maximize profitability.

Inventory Management System

An inventory management system is a tool that helps businesses keep track of their stock and manage ordering, sales, and deliveries. A good system offers:

1. Real-Time Tracking: Ensures you know exactly what’s in stock at any given time.
2. Multi-Channel Integration: Allows you to manage inventory across various sales platforms.
3. Reporting Tools: Provides reports and insights into inventory performance and sales trends.
4. Automation Capabilities: Automate tasks like reordering, order fulfillment, and updating stock levels.
5. Customization: Tailor the system to your specific business needs for optimal performance.

Ordoro stands out as an exemplary inventory management system for BigCommerce stores, offering powerful integration and an array of features that make it a favorite among several hundreds of BigCommerce and Shopify merchants.

In conclusion, effective inventory management is essential for the success of any e-commerce business. From understanding inventory types to choosing the right tools like Ordoro, getting a handle on your inventory can greatly improve efficiency, customer satisfaction, and profitability. For more detailed information on BigCommerce and Shopify integrations with Ordoro, visit the website at Ordoro.