For digital businesses, Ecommerce inventory management is one of the most essential tasks. It requires a strict check-in balance and real-time updates to prevent any error in stock availability.
The issue appears when you have multiple inventories for different platforms. For example, one stock, but different inventory in eBay, Amazon, Etsy and any other Ecommerce platform.
Ecommerce inventory management
Drawbacks and Problems of Multiple Inventories
While managing multiple Ecommerce inventories sounds not so complicated. But, one error can cause mismanagement in the stock. According to PACKAGEX, almost 67% of SME wholesale businesses use inventory management software on digital platforms. Moreover, managing multiple inventories manually can significantly increase human error.
Here are some most common problems that will occur in manual inventory management for different platforms:
No Real-time Updates
When using manual IMS (inventory management software), each for different platforms, you can’t get real-time updates. Suppose, a customer buys products from your Amazon store. It’ll require a dedicated person who’ll update the inventory on other platforms accordingly. And, it’ll require time, delay and eventually inventory mismanagement.
Human Error
The more manual work is involved, the more human error will be made. According to OrderHive, 21.3% of inventory loss is caused by staff’s inventory mismanagement. Human error can involve the wrong addition of stock (more or less), wrong pricing of products on platforms and not updating the stock in real-time. This can eventually cause customer dissatisfaction and a significant loss.
Cost Inefficient
Hiring multiple employees to manage and update all your inventories, will require a budget. As the employees will require salaries and other employee basic benefits. The average data entry operator salary in the west is about $38,000/annum. Multiply this cost by 4-6 employees. And you’ll get the annual cost to maintain the inventory of your system.
Central IMS for Ecommerce
How to have central control of your Inventory on eBay, Amazon, Etsy and other marketplaces from your Ecommerce systems
If you want to get rid of all these troubles. You can opt for an automated Ecommerce inventory management solution like JustSell. Here’s how you can have a central control Ecommerce integration for all your platforms:
automated ecommerce ims
Benefits of Automated Ecommerce Inventory Management Solution
Real-time Updates
Unlike manual inventories, an automated integration will offer real-time updates in the master IMS without any delay. If a customer orders a product from Amazon, its stock will auto-update in the inventory on the other platforms without any delay.
Cost Efficient
In Ecommerce automated inventory solution, the whole process works on a predefined algorithm. It doesn’t require any human effort. It’ll save the salaries and other employee benefits that you had to afford in the manual IMS integrity. Moreover, in 2022, 73% of SME businesses use an automated IMS system. It saves money and offers good ROI.
No Human Error
Humans can make mistakes. However, a computer algorithm in a predefined script can’t make mistakes. In an automated IMS system, no error will occur. If the product needs an update, it’ll perform the update on all the platforms with 100% precision. And without any delay or efficiency loss.
Easy Integration with ERP (Enterprise Resource Planning)
If your business uses ERP, it’ll give you complete analytical data on your ERP. Whether you offer promotions, discounts or any other type of campaign. The Ecommerce inventory management solution will copy it to all the integrated platforms. And in your ERP, you can view the whole analytical data in real time without any human error or delay.
Our inventory management solution for SMEs provides an all-in-one automated Ecommerce inventory management solution with best-in-class quality features. Schedule your live demo from the below button to see it in action
