All
Software
Buyer’s
Guide
Amazon Inventory Management Integrations Buyer's Guide
Table of Contents
The most critical aspects of managing inventory are determining your needs, how much to buy, and when to buy. Careful planning is crucial not to overload suppliers or stock up on obsolete items before you can sell them. Inventory management software can help you with this task by listing products for sale at every level of the supply chain. In addition, these programs will track when products are shipped and when they are received. This software will estimate unit sales and shipping costs to determine the most cost-effective way to purchase items.
This type of system is beneficial in companies with extensive inventories of different types of merchandise—not only large retailers but also distributors, wholesalers, and manufacturers. For example, a manufacturer might need to keep track of every item in stock at every distribution chain level because each group may have varying needs. The inventory management system would keep track of all items in stock at one supplier and all things at several suppliers. In this way, the system can identify which items are selling at a particular level of the supply chain.
» What is Amazon Inventory Management Software?
This kind of Amazon inventory management tool is only as good as its data. As a result, you will have to spend time describing your inventory: what items it contains, how they should be stored and shipped, and when they were purchased. If you need to reorder frequently or stock up on something before it goes out of style, your inventory management system may also help you decide when to purchase new merchandise.
Amazon Inventory Management Software helps you to create an inventory with the help of barcode scanning. This software can be used to check the items at any time, thus making it easier for you to get rid of damaged and expired items. Amazon Inventory Management Software’s dashboard helps you monitor your inventory even if you are not physically present at the store. In addition, this software keeps track of all your expenses and sales with its built-in accounting features. Small and large businesses can use Amazon inventory management tools in industries like retail and wholesale.
» Why do you need an Amazon inventory management tool?
If your business resells Amazon items, you need one to track your inventory. It’s not as essential as telling how many widgets you have and where they regard inventory management.
The best Amazon inventory management systems involve many more features than just monitoring items in storage. It’s about knowing your profit margins, keeping track of the seasons and their impact on demand, shipping, and tracking orders, and having valuable tools to help you make decisions.
So, what should you look for in the best Amazon inventory management systems? Here are some essential features that are must-haves:
1) Multi-channel inventory support:
Inventory management does not always mean Amazon alone. There might be times when you need to monitor your items on eBay or deal with other channels. Ensure your chosen tool has multi-channel inventory support to track your inventory from all sources.
2) Inventory view:
The inventory view is probably the most common feature to check out. It’s basically what your customers see. How detailed should it get? It is a question of whether you will track your total inventory or how much you want to know about each item, including its cost, size, number of units delivered, etc.
3) Inventory system:
There are two kinds of inventory systems; one that is resource-based and another location-based. Location-based inventory systems enable tracking by the item instead of the lot (unit). There are many benefits of this type of inventory system. It helps in more efficient and timelier fulfillment of orders at a lower cost. It makes it easier to track inventory levels, especially when you have many items like furniture or other oversized things.
4) Inventory listing:
This is the difference between a simple one-page quote for an order, and an integrated listing for all your products on Amazon with images and other product attributes like size, color, models, SKU, etc. Listing your products on Amazon cuts down your fraud by giving you a better idea to work on if your customers have doubts about whether they should buy. Also, it helps you increase your sales by showing a better picture of what the item looks like.
5) Multi-supplier integration:
Inventory management is all about taking care of logistics. In this age of internet penetration and e-commerce, you’ll be looking for options to coordinate between suppliers and your customers. The best inventory management tool should have inbuilt features for coordinating shipments with other suppliers, fulfillment agents, and warehouses. Amazon’s API is pretty good at this, but other platforms can also support the same integration with a few clicks.
6) Orders and inventory:
You cannot forget to keep track of your orders, especially if you are running a business. You’ll need demand for the best Amazon inventory management systems. Also, it’s essential to know how much inventory you should have in stock at any given time based on forecasted customer demand or sales data. You’ll also need a way to predict and estimate future orders for an item by keeping track of historical sales data, tracking the seasonality of your business, and keeping current on trends in your niche. This is another area where multi-channel integration comes into play big time.
7) Inventory reports:
When you run a business, the most important thing is making decisions based on facts and data from such facts. It can generate detailed reports to help you quickly make productive and effective decisions.
» 9 Tips to Help You Manage Inventory
It’s sometimes easier said than done, but every business needs to take inventory at least once a year. We’re not just talking about counting your inventory and checking that everything is accounted for—although this is part of the process. What we mean is keeping track of your expenses, making sure that you can determine the number of items on hand and their value. The inventory control process is tedious, but there are ways to streamline the process, reduce your mistakes and ensure that you are well ahead of the game when it comes time to take stock of your business in the new year. Here are ten tips to help you manage inventory in a business:
1) Budget for Inventory Control
Once you have determined the percentage breakdown of your sales based on each category, make a budget for inventory control. Base this budget on how much you expect to pay for goods and services and purchasing raw materials. If it becomes evident that your budget will not meet actual expenses, adjust it accordingly.
2) Take a Hard Look at Your Current Inventory
Now that you have a budget for inventory control, it’s time to examine your current inventory closely. You will be responsible for tracking the list down to specific details, such as the number of units sold and what floor or shelf space those items occupied. These details can be helpful when evaluating purchasing decisions and determining if you need more storage space and more efficient ways of storing goods.
3) Maintain an Accurate Inventory List
You already know what your sales are based on sales tax returns, but you still need to maintain an accurate inventory list. This will help keep your inventory levels consistent and precise and make it easier to determine inventory pricing and how much money you can spend or have left over at year’s end.
4) Know What Goes Into Inventory Costs
There is a lot that goes into determining costs related to inventory control. Not only do you have to keep track of how much you spent in addition to your raw materials, but you also have to make sure you know what costs are related to your inventory. You will have to break down your expenses and sales regarding all of the products that you carry so that it’s easier to determine what is going into costs for the New Year.
5) Pay Attention to Inventory Levels
You need to pay attention to the inventory levels throughout the year, not just when it’s time for inventory control. This can help you make better purchasing decisions, use less money on storage and packaging, and avoid excess or insufficient merchandise on hand.
6) Maintain a Proper Inventory Control Manual
Your inventory control manual will be filled with all the information you need to keep track of your inventory and the financial record that goes with it. It should include detailed descriptions of each item and its cost, plus information regarding packing, storage, and other specifics that can help you manage your expenses without making mistakes or wasting money.
7) Keep Good Records
Once you have finished your records for the year, ensure they are kept in an acceptable way for future reference. If you want to save paper and use a computer program instead, ensure these records are transferred electronically after tax season ends to be there when needed.
8) Make a Firm Plan
Now that you have the information regarding inventory control, it’s time to plan action. This should include the specifics regarding inventory management and how much money you can spend on specific items or services, including raw materials, shipping costs, and more.
9) Seek Professional Help When You Need It
It may be tempting to try to do everything on your own for your small business, but remember that there are professionals out there who can help with inventory control and all the other details that come along with it. If you run into trouble, don’t hesitate to contact a professional who can help you achieve your goals with minimal mistakes.
» Benefits of Automated Amazon Inventory Management
Amazon Inventory Management software solves the challenges of managing your inventory on multiple Amazon websites. The software tracks inventory levels in real-time, helping you organize and manage your orders, shipping logistics, and more. Considering this software’s benefits is essential when looking for a system to help your online business. If you are still unsure how best Amazon inventory management software can help your business, consider the following reasons.
1. It will give you a clear picture of your inventory.
If you have multiple Amazon accounts, this software will show all your inventories on one screen for easy viewing. This is then broken down into individual products and color options, which makes it easier to see precisely where your list stands with each product and category. This can be very helpful in determining what products sell well and which do not perform as well on a specific website or market.
2. It will help you manage a variety of factors.
You can use Amazon inventory management software to keep track of your inventory and sales while organizing shipping, customer orders, and other things associated with your business. This software is a powerful tool that provides a solution to numerous challenges that arise when running an online business.
3. It will show you how you are doing with your sales (expected vs. actual).
If you are looking for a way to figure out where your business is going, then this best Amazon inventory management software can help you track where it stands with the current sales compared to your expectations. This way, you can make changes or improvements before they harm your success.
4. It will show you where your weaknesses are.
One of the most significant benefits of Amazon’s inventory tracker is that it will show you where areas need attention and can be improved upon to help drive sales and overall success. If you want to improve your business, this software can help identify areas where you should focus.
5. It provides a greater understanding of your customers.
The Amazon inventory tracker can help you better understand how your customers view the products shown to them in their search results and on your website. This way, you can better differentiate between what is selling well and items that might sell less than you had hoped.
6. It can give you the data to do so.
Using this software, you can create contact lists with your customers and contact information, allowing you to track their responses as they move through your site toward buying products. This once again demonstrates that when it comes to online business, it is important to track as much information as possible to help optimize every aspect of your business.
7. It gives better control over your tracking and data analytics tools.
Tracking is one of the most critical tasks for any business. In addition to your business growth, it can significantly impact your sales, efficiency, and profit margins. The Amazon Inventory Management software will then allow you to use powerful analytics tools that can help you improve performance and make profitable decisions.
To know the value of this solution for your business, it is essential to see if it has all the features needed for a successful inventory management system. This will vary from company to business, but one true thing is that you need software with a flexible design to customize it as much as possible to fit your company’s needs.
» How To Choose an Amazon Inventory Management System
Managing inventory is a critical part of the eCommerce experience. You have to track what’s in stock, what has been ordered, and what customers expect. Amazon has several solutions that can help you easily manage your inventory. Today we will discuss how you can choose the right AMS for your business based on three essential criteria: sales channel support, optimizing integrations, and supporting multiple business processes. If you have these qualifications, choose from our list of current AMS options on Amazon!
› Sales Channel Support – The platform wholly or partially supports all or some Amazon sales channels. Multiple channels can be supported via integrations with the Amazon Seller Central (SCM), Fulfillment by Amazon (FBA), and Marketplace channels. The full support of all three channels is required to support end-to-end eCommerce. However, some of the newer accounts need particular criteria for specific support modules.
› Optimizing integrations – This is about how the platform and software can support your eCommerce company’s unique needs. Amazon’s Sales Channel Management solutions offer different advantages that cater to other businesses. Since each business is unique, it may require a more customized integration. The most common way to do this is through supported plugins and modules. However, some platforms have this capability built in. For example, some companies require a high level of customization for their fulfillment methods to optimize their inventory flow according to their business needs on Amazon. Others want a centralized place to manage all their fulfillment activity.
› Support Multiple Business Processes – This is the ability to assign various functions to workflows, such as shipping or returns, separately and then choose one or all to run simultaneously. A single solution might not be able to handle business processes that are executed simultaneously. This can be as simple as allowing different sales channels and even different people within the same company to operate independently. If you want to manage multiple business processes and avoid data conflicts, each department might need its unique management system.
› Real-time Financial Reporting – This is the availability of financial information in real-time, rather than in periodic batches, for all areas that generate revenue. The more time-sensitive the information, the more critical real-time reports are to your business. Sometimes, it’s necessary to have faster access to this data to manage your inventory on Amazon effectively. This is why we’ve included it as one of our top criteria for choosing a software platform.