11/12/2022 0 Comments Bigcommerce finale inventory![]() Even if you manufacture all your products yourself, you should have a physical labelling system that matches your digital inventory count. Using physical labels gives you the opportunity to improve the accuracy of your inventory count using technology like barcode scanners. Great organization necessitates a quality inventory control system comprised of detailed labelling and naming. This will enable you to track where items are in your warehouse and handle counts more quickly. Integrate an inventory movement system such as “first in, last out” or “last in first out.”.The first element of organizing your inventory should almost always be physical organization. Organization allows you to understand what you have, how you are keeping track of it, and gain a better understanding of your data once you perform a count. While very small ecommerce stores often skip this step, it becomes more and more crucial as your inventory grows. The first step to accurate inventory counts is simply organizing your inventory. How to Physically Organize Your Inventory While there are numerous elements of your inventory that will require care, you can start by ensuring that your physical inventory counts are accurate, so that the rest of your data is correct as well. Maintaining an accurate inventory count allows you to manage reorders, keep just enough inventory in stock to meet demand, and reduce costs by understanding your sales and losses. This is especially relevant for Amazon sellers, whose listings and Amazon SEO will plummet if a product is out of stock. Overstocking means you could get stuck paying for storage and management for items you might never sell, while selling out loses customers, can slow shipping time, and reduce customer satisfaction. In addition, poor management, which results in out of stock events and overstocking, can be costly. However, you need accurate inventory management to maintain the profitability of your store, as inventory carrying costs can represent as much as 25% of your inventory value. The simple process of keeping track of goods purchased and sold is complicated by costs, overhead, rate of sale or turnover, cost of purchase, and other details that can be difficult to manage as your online sales grow. Inventory management is a crucial element of running an ecommerce business, but it can be one of the most difficult and technical parts of the job to learn. ![]()
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