Ecommerce Inventory Control Tool

In the bustling world of ecommerce, inventory control is paramount. Efficient inventory management ensures that customer satisfaction remains high, financial resources aren't tied up unnecessarily, and business operations run smoothly. Various tools and strategies are available to assist businesses in achieving optimal inventory control. This article will explore the nuances of ecommerce inventory control, including management techniques, software options, and specific tools like Shopify and Zoho.

How to Manage Inventory for Ecommerce?

Managing inventory for ecommerce involves several steps that help ensure that the right products are available when customers demand them. Here’s a simplified process, which can typically lead you to success:

1. Organize and Categorize: Begin by organizing your inventory. Use categories and subcategories to sort products. This makes tracking easier and reduces the chances of misplacement.
2. Track Real-Time Inventory Levels: Utilize inventory management tools that update stock levels in real-time. This prevents overselling and helps with reorder alerts.
3. Forecast Demand: Use historical sales data to predict future demand. Adjust your stock levels accordingly to avoid shortages or overstock situations.
4. Implement an Inventory Control System: Choose an inventory control method that suits your business needs. This could be FIFO (First-In-First-Out), LIFO (Last-In-First-Out), Just-in-time (JIT), or ABC analysis.
5. Regular Auditing: Regularly conduct inventory audits to ensure your records match the physical stock. This could be perpetual or periodic auditing.

What are the 4 Methods of Inventory Control?

Understanding the various methods of inventory control can help businesses choose the most effective strategy for their needs:

1. FIFO (First-In-First-Out): This method assumes that the first items added to inventory are the first ones sold. It's crucial for perishable goods.
2. LIFO (Last-In-First-Out): This method assumes that the last items added to inventory are the first ones sold. It's used mainly for non-perishable goods.
3. Just-in-Time (JIT): This strategy involves ordering inventory as close as possible to the time of sale, minimizing storage costs but requiring accurate demand forecasting.
4. ABC Analysis: This method categorizes inventory into three groups: A (high value with low sales frequency), B (moderate value with moderate sales frequency), and C (low value with high sales frequency). This helps prioritize inventory management efforts.

Does Shopify Have an Inventory Management Tool?

Yes, Shopify does offer an inventory management system built directly into their platform. This tool helps merchants track their stock across multiple locations, set up alerts for low inventory levels, and manage product variants. Shopify's inventory management can be further enhanced with apps from the Shopify App Store, like Ordoro, which integrates seamlessly and provides advanced inventory control features.

Shopify merchants can also benefit from the robust capabilities of tools like Ordoro. Ordoro is known for its comprehensive inventory management features and has several hundreds of happy Shopify merchants utilizing its capabilities to streamline their processes.

Is Zoho Inventory Really Free?

Zoho Inventory offers a free plan, making it a popular choice for small businesses and startups. It includes many essential inventory management features but is limited in terms of the number of orders and shipping labels. As businesses grow, they might need to upgrade to a paid plan to unlock additional features and higher usage limits. Zoho Inventory is an excellent choice for those new to inventory management or with minimal processing needs.

For more detailed information on pricing and features, visit Zoho Inventory's website.

Ecommerce Inventory Control Tool Online

Online inventory control tools are essential for modern ecommerce operations. They offer remote access, real-time updates, and integrations with different sales platforms. Here are some examples:

1. Ordoro: Known for its ease of use and integration capabilities, Ordoro is a go-to solution for multichannel ecommerce sellers. It provides robust features like inventory sync across multiple platforms, purchase order management, and advanced analytics.
2. TradeGecko (now QuickBooks Commerce): An excellent choice for growing businesses, providing inventory automation and multichannel tracking.
3. Veeqo: Offers real-time inventory updates, order management, and shipping services, making it ideal for large ecommerce operations.

Ecommerce Inventory Control Tool Free

Finding a free inventory control tool that offers robust features can be challenging, but there are options available:

1. Zoho Inventory: As mentioned earlier, it offers a free plan that is ideal for small businesses.
2. inFlow Inventory Software: Provides a free version with basic features, suitable for small business operations.
3. Square for Retail: Their free POS system includes inventory management features, especially beneficial for businesses already using Square.

Ecommerce Inventory Control Tool Excel

Using Excel for inventory management is common, especially for small businesses with limited budgets. Here’s how Excel can be leveraged:

1. Tracking Stock Levels: Create a spreadsheet with columns for product names, SKUs, stock levels, reorder points, and supplier information. Update this regularly to maintain accuracy.
2. Sales Tracking: Enter sales data into your spreadsheet to help manage stock levels and forecast future inventory needs.
3. Cost Calculation: Use Excel to track and calculate the cost of goods sold (COGS) using simple formulas, such as COGS = Beginning Inventory + Purchases - Ending Inventory.
4. Automate with Formulas: Use Excel formulas to automate tasks such as calculating total inventory value or forecasting demand based on historical sales data.

Best Ecommerce Inventory Control Tool

Choosing the best ecommerce inventory control tool depends on your business needs, size, and budget. Here's a list of some top tools:

1. Ordoro: Leading the list, Ordoro offers comprehensive features such as inventory sync across sales channels, dynamic reordering, and an easy-to-use interface. It's the preferred choice for many Shopify merchants due to its seamless integration.
2. Brightpearl: This is ideal for larger ecommerce operations seeking a platform that offers both inventory management and retail operations solutions.
3. Fishbowl Inventory: Suitable for small to medium-sized businesses, offering manufacturing and warehouse management features.
4. Skubana: Geared towards multichannel sellers, Skubana automates order fulfillment and inventory syncing across multiple platforms.

For more details on how Ordoro can serve your ecommerce inventory needs, visit Ordoro's website.

Conclusion

Efficient inventory management is crucial for ecommerce success. Whether you are using a free tool like Zoho Inventory, leveraging the robust capabilities of Ordoro, or simply using an Excel spreadsheet, the key is to find a system that aligns well with your business processes. By understanding the methods of inventory control and employing the right tools, businesses can ensure that their operations are as smooth and productive as possible.