If you’re a Shopify merchant, you are no stranger to the saying, “the devil is in the details.” You work hard to develop your Shopify store, placing your products and services out there for the world to see. Then comes the part most merchants dread: inventory management.
With customer expectations becoming more demanding, managing inventory can seem like an uphill battle with no clear victory. An inventory management solution can help you stay one step ahead of the competition and keep your customers happy.
But it’s not enough to choose just any inventory management software. You need a solution that will help you address the biggest pain points in inventory management software.
The best solution will address the following pain points in inventory management software.
Difficulty managing multiple inventory locations
Your store could have multi-location inventory, especially as you continue expanding and entering new markets. Without the right software, your inventory management process will encounter errors and challenges like late items and warehouse quantity errors. An effective inventory management system will allow you to track your inventory across all locations in one place to avoid overstocking or stockouts.
Inaccurate inventory updates
Inconsistent updates on your inventory can mean the difference between happy customers and disappointed ones. Any discrepancies between what’s on your inventory list and what’s available could lead to unhappy customers and potentially lost sales. An effective inventory management solution will help you keep accurate records of the items in your store by automatically updating stock levels when orders come in and go out.
Having a system to tell you where your inventory levels are at any given time at any location, could save you thousands of dollars in stolen or misplaced property. Having visibility and identifying the source early on is key here.
Lack of integration with existing systems
You may have multiple systems to help you manage your store, such as a CRM system, accounting software, and shipping solutions. It could be difficult to integrate these systems without the right inventory management solution. This is why you need an inventory management solution that works seamlessly with your existing platforms and software to allow you to have the best of both worlds.
Limited customization options
No two eCommerce businesses are the same. Unfortunately, one of the pain points in inventory management software is a lack of customization options. Many software solutions offer generic templates that don’t consider the specific needs of your store or business. A flexible solution will allow you to customize settings like ordering thresholds.
High cost of the app
The price tag of inventory management software can be another significant pain point. Many solutions on the market are prohibitively expensive, making them inaccessible to small businesses with limited budgets. If you’re looking for an affordable solution, compare different products to find one that provides the features you need at a price point you can afford.
Poor customer support
Imagine running into an issue with your inventory management system and not being able to get help from the customer support team. This is a nightmare scenario for any store owner, but unfortunately, it is common. To ensure this doesn’t happen, look for an inventory management solution with reliable customer service that is available 24/7 and offers various customer support methods.
Inability to combine inventory across multiple stores
Some solutions on the market only allow you to manage inventory for one store. This can be a problem if you have multiple stores or outlets and you need to keep track of their stock levels. The right solution should combine your inventory across all your stores and provide real-time updates on stock levels, so you never miss a sale due to an out-of-stock item.
Difficulty tracking inventory across multiple stores
Unfortunately, most solutions don’t provide a centralized platform where you can view and control all of your stores’ inventories in one place. Discrepancies between stores can lead to inaccuracies in reporting and forecasting. The right inventory management solution lets you view stock levels across all your stores.
Inability to transfer inventory between stores
Successful businesses need the flexibility to move their products between stores to maximize sales and efficiency. However, many inventory management solutions don’t offer this option, and you have to make manual updates when you transfer products between locations.
This process can be tedious and time-consuming. To make it easier, look for a solution that allows you to automatically transfer stock levels between multiple stores.
Complex setup process
You’re already dealing with many tasks when running your eCommerce business, so the last thing you need is a complicated setup process for your inventory management system. Unfortunately, many solutions on the market require a complex setup that can take hours to complete. Look for an inventory management solution with an intuitive and straightforward setup process so you can get up and running quickly.
Syncing limits and delay times to sync / artificial limits on updates like paying for manual sync
Some systems don’t sync regularly or in real-time, resulting in outdated stock levels that can lead to overselling or underselling of products. In addition, some providers charge extra for manual syncs, which can be expensive if you need to update your inventory frequently. To ensure your stock levels are always up-to-date, look for an inventory management solution that provides real-time updates and doesn’t limit or delay syncing.
Inaccurate syncing can wreak havoc on your inventory. Sometimes, it can lead to lost sales if products are tagged incorrectly or the wrong stock levels are shown. That’s why you need software that provides accurate and reliable syncing so your product tags are always up-to-date.
Ability to determine cycles in inventory
Managing seasonal or cyclical inventory can be a challenge for eCommerce businesses. You need to anticipate demand and plan so you don’t run out of stock at the wrong time. To help you manage inventory, look for an inventory management solution that offers advanced analytics tools to identify trends and cycles in your product lines.
Stay on top of inventory management pain points with SKULabs.
SkuLabs is the best inventory management solution to help you stay on top of these pain points to manage inventory on your Shopify store. This Shopify app has features to facilitate barcode scanning, order picking, multi-carrier shipping, and purchasing, among others. SKULabs has direct integrations with platforms like Amazon, eBay, and many more.
It also allows you to track your inventory by providing real-time counts for all the items in your multiple locations. Learn more about SKULabs to manage your inventory across one or multiple warehouses and get started on better inventory control.