Building an advanced level of Shopify inventory management software for eCommerce retailers and wholesalers helps them in growing there eCommerce business. 87% of merchants have been successful in generating $100 million of revenue and still increasing.
Shopify inventory refers to the process of tracking orders, storage of raw materials, components, finished products, sold and unsold products and many more so you can focus on the other aspects of your business.
Shopify Inventory Management Software is simple to use for ecommerce store owners and affordable to adopt. Shopify has powered more than 800,000 eCommerce retailers and wholesalers stores and also has made its platform way secure by paying $850,000 to ethical hackers. Build shopify store for amazon
The inventory system is useful in tracking the companies inventory that keeps updated to the seller of the available products, keeps notified when and how much to take order of your product. Inventory management system enhances the strength of the department to monitor and maintain stocked products, no matter if the products are company assets, finished goods, raw materials or delivery to the end customer.
What Are Inventory Management Systems?
An inventory management system is designed to track products, orders, sales, inventory, etc. IMS is for the order management system and syncs all data in a single location.
Shopify provides its inventory management solution to avoid costly errors, in staying organized and tracking all inventory activity which also ensures sales, support and account management via different features that include:
- Order management
- Inventory control
- Multi-channel sales alignment
- Comprehensive reporting and analytics
- Volume forecasting
- Purchase order generation
- Multi-warehouse syncing
Why Shopify inventory tracking is important?
Inventory tracking is important to keep up to date stock report along with buy and sell activity. It is also necessary to avoid several mistakes that play a vital role in the growth or downfall of any eCommerce store.
Below are several reasons why inventory tracking is important:
- Prevents from fading
- Prevents from selling expired product
- Saves warehouse storage costs
How you can Manage Your Inventory In Shopify?
Shopify inventory system is designed to ease the burden of inventory management and make life easier of yours along with it it also gives you satisfied customers.
To manage inventory in Shopify is easy and user-friendly where you just have to be aware of the several key steps that need to be planned to make things going smoothly.
Below are the few points that you should follow to manage your inventory in Shopify
- Products setting and organizing
- Presenting variety of products
- Attaching barcode
- All stock tracking
Best inventory software to Integrate with Shopify?
There is a huge list of the IMS software that offers sales, inventory suits, inventory management tools. The tools and its features all depend on the size of the company and employees with there specific requirement a proper match and problem-solving IMS software is suggested to integrate.
Below is a few IMS software that can be integrated with Shopify.
- Zoho Inventory
- Seller cloud
- Order Hive
- Channel advisor
- Emerge App
- Stitch Labs
- Trade Gecko
- Zap ERP
- Stock Inventory Management and many more
Why choose Shopify Inventory Management System over Spreadsheet?
Spreadsheets are created in google and Microsoft which was and is used by the large and small store owners. It is used widely as it is free and also avoids uses of papers and gives proper statistics after analyzing the data automatically. However, the spreadsheet is not a successful tool for large employee sized companies who have a vast inventory with multiple operating channels for which Shopify IMS is the best solution consist of must-have features.
Math knowledge –
Spreadsheet users should have basic math formula knowledge to get accurate calculation which if the user lacks will create difficulties to overcome which Shopify IMS ensures the auto data sync and authentic auto math solution.
Fraud risk –
Risk of changes that could be made to the spreadsheet by anyone have access to it and can create critical errors whereas Shopify IMS is secure with its data and information and responsible personnel can only make changes that reduce fraud risk.
Error risk –
The spreadsheet is though online but is operated completely on manual working methods where employees will make changes, copy and paste, editing data, etc. the higher the manual work the extreme is the chance of getting an error. Shopify is free from this hassle and offers user-friendly software that almost prevents the error risk.
Data Loss risk –
Information is on what employees work on, one-click on deleting no matter if its intentionally or unintentionally the deleted data cannot be recovered whereas Shopify ensures the backup of the information where the user can recover if such a situation arises.
Data protection security –
Docs do not offer the security feature of limiting or restricting the person using or seeing the specific information you want, once the sheet is shared all who have access to it can use the information and you cannot control it. Shopify offers the advance feature where you can decide who should have access to which data, information and till when. It gives complete control to the owner.
Time exhaustion –
100% chances of getting irrelevant results if your employees forget to use or update formula. Shopify IMS does not require any formula updation as it is itself intelligently created that gives all relevant and on-time results.
Complex interface –
The spreadsheet is all based on a manual method where every time you will have to use formulas, options, the section that is not possible for a human to remember all the time which makes spreadsheet complex in use. Your online store management task can be made 10 times more proficient and productive. Shopify IMS is designed for a specific purpose of solving management issues with user-friendly interface and easy to use.
Benefits of a Good Inventory Management System
Management gets stronger and educated with the use of a good inventory management system that persists with the process of overseeing the flow in and out of the stock, controlling the cost of the stock.
IMS helps in saving time and money of the store owner and prevents you from recounting the inventory. Along with these benefits, there are several other key benefits that one can avail of if it integrates an inventory management system.
- Shopify store auto updation
- Forecasting about the restocks
- Supports unique product ID with multiple SKUs
- Strengthens high transaction volumes
- Multi Shipping at multiple Locations Support
- Gearing of products
- Automatic status change
- Prevents from over-order
- Prevents from efforts of inventory recounts
- Prevents from wasting money on slow selling products
- Enhances efficiency and productivity by implementing barcode scanners
- Getting repeat customers offering products they need
Finding the Right Inventory Management System integration
- Your inventory challenges
- know your supportive integrations
- Determine tracking system you need
- Employee and user size based accessing system with there location
Shopify stock forecast made easy: What solutions to expect from i-verve?
I-Verve helps you in integrating the Shopify IMS that will empower you in handling your promotions, stockouts and sales expectations, inventory forecast exporting, placing an order on inventory management system report and buying accordingly prevents unnecessary orders and much more. You can expect your inventory, budget, and sales under control with i-Verve.
- Demand Forecasting
- Sales Forecasting
- Inventory Optimization
- Budget Optimization
- New Product Forecasting
- Inventory Replenishment
- Purchase Orders
- Omni-channel Demand Planning
If you are an owner of the single eCommerce store or multiple, an increase in the business gives the growth to the complexities too. Shopify inventory management integration helps you to overcome the management and inventory issues and grooms your business. Hire a leading Shopify development company to get a solution for the inventory management problems which will give you end to end solutions from setting it up to managing your store.