When we asked hundreds of eCommerce business owners what their biggest challenge was, 65% said inventory and stock management.
With stock listed on multiple channels, you are at risk of overselling if you don’t update your listings quickly and manage your inventory effectively.
The dangers of overselling
On top of that, if you do end up overselling too many times on marketplaces like Amazon, you might even find your account suspended.
So how do you prevent overselling?
1. Always keep track of products that are low in stock
Any good stock management software should allow you to sort and filter by stock levels.
2. Look after stock in your warehouse
If you use a fulfilment service, this is out of your hands, though they are likely to have an efficient system in place to keep stock rotating correctly.
3. Keep a reserve of safety stock (if you can)
4. Stay on top of stock taking
Instead, you just need to make sure that all outgoing stock is tracked efficiently, and all new, incoming stock can be added seamlessly to your existing figures.
Where possible, you’ll want to automate this process, and reduce the potential for human error. That’s where inventory management software like ChannelGrabber can help.
5. Use multichannel inventory management software like ChannelGrabber
That’s why you need multichannel inventory management software like ChannelGrabber.
It allows you to sell all your stock across every channel. But more importantly, it synchronises your stock levels in real time – so if one item sells on your own webstore, stock levels are automatically updated on every other channel too.
This means you don’t need to worry about overselling, because your stock levels will be the same on every channel, and will always be updated when an order comes through on any of those channels.
Simple export and import options also make stock taking a lot easier too. You can export all your current stock levels to a spreadsheet and quickly check these with the actual products in your warehouse.
And when you get any new inventory in, simply update the numbers on your spreadsheet and import into ChannelGrabber with a few easy clicks.
All your stock levels will be updated across every channel, so you can quickly replenish any low stock listings and make sure you don’t miss out on any sales.
- Quickly and easily check stock levels of all products
- Update stock levels without any hassle when you get new stock in
- List all your stock across every channel
- Automatically update your stock levels on every channel, in real time, whenever you make a sale.
As soon as you start selling on more than one channel, you will start to face the potential problem of overselling on one or more of your products. Some circumstances might be beyond your control.
Others might just require you to be careful and plan ahead. But simple overselling mistakes can be avoided with inventory management software.