How to synchronize inventory stock lists across multiple marketplaces

 

Multichannel selling has become an essential part of the E-Commerce business development strategy for many sellers. With the initiation of the world-famous marketplaces, it is possible to rise brand distinguishability and enter new markets with slight upfront investment.

When you are just establishing the first steps to multichannel selling, the path might seem bright and sunny. However, there are many difficulties you need to be aware of and inventory management is one of them.

In this article, we will look at how to synchronize inventory stock lists across multiple marketplaces.

 

The Core Benefits of the Conventional Inventory Management Process

 

Keeping track of inventory helps you evaluate how products are selling and which products are not common among your customers. Inventory management brings the following assistances to retailers:

·         Inventory management helps E-Commerce companies to keep track of inventory and avoid overselling.

·         Sellers can better consolidate products in groups.

·         Items that sell well do not run out of stock as E-Commerce business directors control inventory 24/7 and have time to order new consignments of goods.

·         Inventory management clearly shows which products sell well during specific time periods and which are appropriate for other times or even sales channels.

·         Keeping track of inventory increases product visibility for online sellers.

·         Data is rapidly synchronized across all deals channels.

With the help of inventory data, it is stress-free to make data-driven decisions about your stock and advertising activities.

 

Coordinate Inventory across Multiple Platforms

Luckily for companies that face the problem of inventory management, there are tools that relief them eliminate the problem. When choosing such a tool, you need to pay devotion to a few elements that should be key in your decision-making process.

Here is what you need to look out for in an inventory management tool:

·         Maintenance of cross-channel synchronization – this is what makes a good inventory management tool. As a multi-channel vendor, you need to keep way of your inventory across all your products and sales channels. So, such a tool should permit you to not only manage inventory on a single sales channel but synchronize inventory across all of them.

·         Order management is also a part of inventory synchronization process which helps to avoid disagreements and overselling. You need to track, synchronize and manage all arriving orders across multiple sales channels. Just remember that such a tool should keep working even when your business hours are over, becoming one of your reasonable advantages.

·         Synchronization of shipment and refund data between marketplaces and supplies.

·         Small synching intervals – you need to keep all data up-to-date and waiting for hours for a tool to synchronize inventory is not a way to do that. The smaller synchronization intervals are, the better.

·         Bulk upload products to marketplaces – this feature will help you extra time on manual adding of products to marketplaces and stores.

 

Synchronizing Inventory across Multiple Sales Channels

Every retailer wishes to adopt an inventory management platform and make it an essential part of E-Commerce business administration. In general, inventory management and synchronization permit for vendors to keep track of inventory, avoid overselling, and control product performance.

 

Schedule an ERP Gold demo that helps you to understand how to synchronize inventory stock lists across multiple marketplaces