Inventory is undoubtedly the most valuable asset of any company. It’s the materials, work-in-progress goods, and final product that businesses sell to generate revenue. There is no business without inventory. However, inventory management is as crucial to running a profitable and efficient amazon business as procuring it. In fact, poor inventory management is the number one reason amazon sellers fail. Inventory management software is now an indispensable tool for every Amazon seller.
What is inventory management software?
Inventory Management Software is a set of business applications that manage, track and organize product sales, material purchase, and other production processes. Businesses no longer need to track inventory using pencil and paper. Instead, they can use barcodes and radio-frequency identification (RFID), which allow them to see when shipments arrive, where their raw materials are located and when products have shipped. Businesses can now use inventory software to reduce time and effort spent on basic tracking and focus instead on analyzing, finding, and reducing inefficiencies.
Why Sellers Need an Amazon Inventory Management Solution
Amazon inventory management software is a specialized software that allows you to track your inventory, deliveries, sales, orders, and other information originating from Amazon’s sales channels. The goal? The goal? This will make it easier to keep a balance between too many stocks and too few. Proper inventory management is also an essential part of Amazon’s product lifecycle management. With good inventory management, you can make informed decisions about pricing and stock levels.
Amazon inventory management systems are even more important if you sell using Fulfillment By Amazon (FBA) or FBA site. Amazon FBA gives sellers access to Amazon’s vast distribution network. Amazon will ship your orders to your customers in return for shipping fees and storage costs. Amazon FBA is available to assist you if you don’t have the fulfillment infrastructure to offer one-day or two-day shipping.
Amazon FBA requires you to maintain enough inventory at FBA distribution centers in order to keep up with your Amazon Order Management. However, you should not keep too much stock that you are subject to late storage charges by Amazon. This requires careful balance. An inventory management program can track inventory across all your warehouses, including Amazon FBA. It makes planning and forecasting easier.
How to manage inventory on Amazon
An inventory management system is a key to success. It is, therefore, crucial to choose the right tools for managing your Amazon inventory.
Inventory management systems increase efficiency and ensure orders are fulfilled on time. This is the best way to automate your stock management process and streamline supply chains, mainly if you sell on more than one channel.
Inventory Management Software Not only does it cut down on time spent doing complex calculations, but it also reduces human errors by using automated workflows.
Inventory management software allows eCommerce companies to automatically track and update inventory levels and gain real-time insight into:
- Your inventory number, including SKUs and products
- Your inventory’s locations
- Timelines for goods-in and goods-out
- Inventory costs
- The retail price for the products in your inventory
- The margin of your products
This allows Amazon sellers to overcome supply chain challenges. Increased order volumes and increased fulfillment responsibilities are just some of the challenges. Ecommerce businesses are able to quickly adapt to these events thanks to automated workflows, and real-time insight and stand out among the rest.
Top 10 inventory management software that Amazon Sellers can use
1. Seller Labs
Seller Labs helps Amazon sellers make informed sourcing choices. You can gain insight into product trends, seasonal sales, and promotion success by looking at historical data. It provides out-of-stock notifications for its users to ensure they replenish their FBA inventory on time.
Pros
- It helps a lot to keep track of negative feedback and send auto emails regarding recent purchases.
- It is easy to use.
- It is possible to spend literally hours looking at data, but only a few minutes per week.
Cons
- You can only send a certain number of auto messages per month.
- The support team is not available during the evenings.
Let’s first look at the key principles to follow when managing your Amazon inventory. These are the three Seller Labs tips that will help simplify the process.
2. Multiorders
Multiorders Amazon inventory management software and shipping software will elevate your inventory management by combining all of your accounts into one dashboard. It offers features such as bulk inventory management, seamless integration with different shipping channels, and Amazon FBA.
Pros
- Multiorders’ customer service is the best part. Multiorders has a dedicated team of professionals who know the answers to all your questions and have the patience to show, teach and guide you through each step.
- It is easy to set up and user-friendly.
- It doesn’t require much babysitting, and it runs very well on its own.
Cons
- The inventory is the limit on the price
- It takes a while to get your package through the post office.
- The barcode scanning function is not available.
3. JungleScout
Amazon sellers can use JungleScout inventory software to check out the ASINS of their competitors. It can help avoid Amazon storage fees, stop stockouts and profit forecasting, calculate Amazon inventory requirements and calculate Amazon profits.
Pros
- Jungle Scouts is always evolving. They are constantly creating training webinars, research, new tools, and other resources.
Cons
- Many shoppers have difficulty using the Jungle Scout’s Inventory Manager tool.
- You will need to watch some videos to learn how to use the app effectively.
- Customers are concerned about price.
4. Ordoro
Ordoro, an Amazon inventory management program, will sync and track your inventory across multiple channels, including Amazon, eBay, and Walmart. You can dropship and integrate with many shipping carriers such as FedEx, UPS, FedEx, and USPS.
Pros
- Fast customer service and technical support that is patient and responsive.
- You wish to expand the functionality of the current system.
Cons
- It is not easy to set up an automatic printer.
- There are some glitches in software upgrades.
5. FinaleInventory
FinaleInventory integrates Amazon FBA inventory management software. It was developed by Silicon Valley geeks. This tool will allow you to grow your eCommerce business while also saving time and money by centralizing all your inventory. It is easy to set up and supports large transaction volumes on multiple marketplaces.
Pros
- Implementation is fast and easy.
- Customer service is top-notch.
- You can order according to the seasons.
- Integration with Square allows seamless communication between brick-and-mortar shops using POS.
Cons
- It will stall out no matter what browser you use or the computer that you are using.
6. SkuVault
SkuVault, an Amazon FBA inventory software, tracks Amazon quantities to help you track where your inventory is at any time. SkuVault can help you increase your seller performance ratings, improve FBA visibility, make FBA shipping easier, and ultimately gain more sales.
Pros
- Support provided promptly
- The onboarding process was smooth. The customer service team creates a customized implementation plan and meets weekly with prospects to ensure everything is set up correctly.
- The software is very affordable.
Cons
- It would be great if the user interface was more intuitive and only showed the most used tools.
- It isn’t easy to use the product search function.
7. Zoho
Zoho Amazon inventory software is affordable and easy to use for small Amazon business owners. It is a great tool for managing orders across multiple channels. You can keep track of serial numbers and link them with invoices before shipping.
Pros
- Zoho is flexible and can scale to your needs.
- The user experience is made more enjoyable by the intuitive and well-designed interface.
Cons
- The pricing plans are prohibitive for small businesses, so the tool cannot be called economical.
- Updating product images takes time.
- Too many updates.
8. QuickBooks
This is the most popular software on Capterra, with over 18K reviews! QuickBooks can be used by small and medium-sized businesses, as well as start-ups. It is great for small businesses, but it can be difficult to use when your business grows.
Pros
- You can try the software for free for 30 days. This includes all functions.
- The customer support team is exceptional.
- The customization of templates and reports is one of the most important features.
Cons
- The software can only be used by a limited number of people at once.
- It lacks current business trends features such as lot tracking and barcoding.
- The price is slightly higher than the competitors.
9. SKULabs
SKULabs inventory management software is designed to assist Amazon sellers in managing their orders, inventory, and shipping all from one location. It can be used to assist with barcode-based picking and shipping label printing.
Pros
- It is incredible how much money this software can save.
- SKULabs’ team is friendly and available to chat by phone or email.
Cons`
- Some reviews have said that the software is not fully developed and is buggy.
- It lacks both broad and phrase match functionality, so the product search is not as good as it could be.
10. SellerActive
SellerActive allows you to sell more on Amazon, and expand into new markets, like eBay, Walmart, Etsy, and Etsy. SellerActive’s ASIN Creation tool, repricing, and integration with FBA will speed up the creation of your product.
Pros
- The most feature-rich software on the market.
- Only pay for what you use.
- Amazing product support staff.
Cons
- SellerActive is the Rolls Royce in this space, and their prices reflect that.
- International Amazon markets lack multi-currency support
Benefits of Automated Amazon Inventory Management
Automatic Update of Inventory
Your inventory must be automatically updated when a product is returned or sold online. This eliminates the need to update each channel’s inventory individually, which can save you a lot of time and avoid potential errors.
The best part is that your inventory can be updated 24/7. This means that even if you place orders on weekends, late nights, or early mornings, your inventory will remain consistent across all channels.
Track your Products in the Warehouse
You don’t have to worry if you own a warehouse but are having trouble keeping track of your products. Inventory management software can help you track your inventory down to the pick points, making it easier.
You receive a purchase order and pick up the units. Once you ship the products, they will be immediately reflected in inventory and on your channels. You’ll have many satisfied customers as a result.
Freedom focus on your strategy
What do you enjoy most about managing an eCommerce shop? It’s unlikely that any retailer would say managing their inventory is their primary love. Many retailers are passionate about strategy.
It is important to take the time to plan your Amazon strategy in order to ensure that expansion succeeds. Amazon offers a lot of potential to grow your business. In the first quarter of 2018, Amazon’s market share exceeded 90% in five categories. You want to ensure that your strategy makes the most of this opportunity.
Amazon offers a lot of potential income.
An automated inventory system allows you to concentrate on the areas of your business that are most important to you. You can source more amazing products and grow your business into new markets.
Conclusion
Finding the right automated inventory management software that fits your needs is key. You will need to expand your business to new markets and find an automated inventory management solution that supports sales channels so that you can sell on Amazon.
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