Whether you’re an experienced Amazon seller or a newcomer, you probably already know that inventory management is a time-consuming and tedious endeavor. Indeed, some businesses find it necessary to dedicate staff specifically to overseeing their restocking needs.
Mountains of spreadsheets and hours spent on inventory, however, can be discouraging, and many may find themselves trying to find ways to cut corners. In the short term, you may save a few minutes here and there, but the long-term impact to your reputation and bottom line isn’t worth it.
Fortunately, software such as RestockPro can help streamline the process and restore sanity to your workflow, while helping ensure that your business is fully stocked with the right items at the right time. Let’s talk about the importance of managing inventory and how automation tools can help you be successful.
FBA profit management
It can be easy to get swept up in the endless possibilities associated with the Amazon FBA program, but it’s important to stay focused on the products that will actually make you money. RestockPro allows users to track margins by incorporating important factors, such as Amazon fees, price and costs.
The software can also help users uncover hidden costs within their supply chain by identifying underperforming SKUs and inflated shipping and handling costs. Even small changes can translate into big savings, especially for sellers who operate at high volumes.
Meeting demand
As a proactive business owner, it’s important to stay on top of current orders while anticipating future demand, particularly if you plan to stock seasonal items. Some people have incredible instincts and seem to know exactly how the market is going to trend, but most of us need reliable data.
The Restock Suggestions feature in RestockPro simplifies FBA forecasting. The color-coded system will flag the items you need urgently, as well as upcoming alerts, while providing recommendations for ship quantity and reorder amounts. This is absolutely crucial since you never want to run out of stock or have too much. RestockPro will crunch the numbers while keeping your whole supply chain in mind.
Kits and bundles
You can find just about anything in abundance on Amazon, with many sellers offering the same or similar items. One way to set yourself apart is to create a kit or bundle. While it’s crucial that you follow the guidelines (check out How to Sell Bundles on Amazon), using RestockPro’s kitting feature to create a unique SKU can be a fantastic way to find your niche.
Get creative and think of complementary items that your customers would love to buy as a package. Maybe it’s a variety of low-carb snacks or a collection of things someone might need to start a new hobby (think paint, easels and brushes). Best of all, RestockPro will help you keep track of each component in the kit and will alert you when you’re running low.
Custom stickers and labels
As you already know, in order to be compliant, any items you send to Amazon must be stickered and all boxes must include a label describing the contents. Failure to adhere to these guidelines can impact your eligibility for the FBA program and could result in Amazon assessing a fee. RestockPro allows users to save time and money by printing custom stickers and labels.
Of course, this can greatly reduce your stress during shipment prep. Sellers can choose from three print-sticker options, which will pre-populate the line items required by Amazon automatically. Users also have the ability to enhance the stickers by adding descriptors, such as the SKU, ASIN or even custom text. Go ahead and add your store name for a little pizazz (and improved local inventory management).
Get a nightly email
Wouldn’t it be great to get a customized, automated overview of how your business is doing every single night? RestockPro can generate a highly-tailored, personalized report and send it to you by email. This can be incredibly valuable since you can make note of any pressing matters that will need immediate addressing.
Rather than trying to sift through piles of spreadsheets, this nightly email acts almost like a personal assistant that provides daily guidance on inventory management. Using filters, you will specify the type of information you will receive, but many sellers opt for data on margins, rank, sales history and, of course, restocking recommendations. It’s easy to set up and even easier to review each day.
Inventory management matters
The online retail space is an ever-changing landscape. Even if you think you’ve got it all figured out, things can change in an instant. Inventory management is one aspect of your business that requires ongoing vigilance and proactivity. You never want to run out of an item, for example, because it’s too easy for your customers to move on to a competitor.
Forecasting, tracking margins and shipping orders take time and attention to detail. It can be easy to make mistakes, but considering Amazon’s strict guidelines, you want to do everything you can to improve accuracy.
RestockPro can help tame the beast and keep everything running smoothly. If you aren’t already a user, try our free 21-day trial. Put those spreadsheets in the recycling bin and get ready to revolutionize your inventory management!
