eBay inventory management application provides a sophisticated solution for improving, simplifying, and increasing operations through advanced multi-channel inventory, fulfillment, and company management to the 25 million active eBay merchants that use QuickBooks.
There may be another marketplace with as much brand recognition as Amazon in the United States and throughout the world: eBay. eBay (AuctionWeb) originated in 1995 as a one-man enterprise “committed to bringing buyers and sellers together in an honest and open marketplace.” Today, eBay is a one-stop-shop for virtually any goods – new or old, rare or one-of-a-kind, fashionable or distinctive, and everything in between.
eBay is still going strong after more than two decades in business. eBay has 23 worldwide websites and a presence in over 100 countries. It has 25 million sellers, 7 million of whom are based in the United States, and 183 million active buyers. Every day, eBay receives over 250 million searches, and there are 1.4 billion active listings to pick from.
There is no doubt that eBay is a profitable platform for small and mid-sized multi-channel distributors. Selling on eBay provides you with worldwide visibility and a potentially large consumer base.
However, spending the effort to enhance eCommerce operations is recommended if you want to be the owner of competitive, lucrative listings. eBay inventory management enables QuickBooks merchants to get superior inventory, fulfillment, and company management skills in order to consolidate and simplify numerous channels, increasing a seller’s success potential.
eBay Inventory Management application: How it Works
Inventory Keeper syncs with eBay at predefined intervals, pulling orders, customer information, and tracking into Inventory Keeper while updating inventory availability on eBay. Regular inventory availability updates guarantee that clients only see what is genuinely available, eliminating missed purchases and protecting bottom lines.
Multi-channel distributors, manufacturers, and retailers may sell on numerous eCommerce marketplaces, a personal website, over the phone, through catalogs, in physical locations, and so on – all at the same time. The value of the Inventory Keeper eBay Inventory Management program is in the consolidation and exchange of data from several channels into a single central point.
Inventory Keeper serves as the main hub. Inventory Keeper webshop sync removes the need for order re-entry — order processing begins at the time of web purchase. Back/pending orders can be released at any moment for future dispatch, and online orders can be handled in groups with only a few clicks, accelerating delivery.
Order Manager enables a company to monitor current fulfillment operations per channel separately and prioritize fulfillment based on availability, necessity, and team needs. Don’t allow a profitable eCommerce channel to get lost in a sea of multi-channel orders. Instead, use Inventory Keeper as your eBay inventory management application software solution.
How to Keep Track of Your eBay Inventory
You have several alternatives for keeping track of your eBay inventory.
Having stated that any genuinely useful eBay inventory system would consist of three major components:
- Management of Physical Inventory
- Data Management
- Management of Sales
Each of these components is critical to obtaining an accurate picture of how your organization is operating and ensuring that your inventory management systems are functioning properly.
Let’s take a closer look at each of the three pillars.
Management of Physical Inventory
When it comes to eBay inventory management, physical inventory is the most apparent starting point.
Proper physical inventory management allows you to sell more things (since the items are accessible when buyers want to buy them), affects your warehousing and carrying expenses, and even dictates how quickly you can send items (eBay offers fast shipping programs that sellers will want to qualify for).
When planning your physical inventory management program, there are three main areas to consider.
- Locations of warehouses
Understanding each of these categories will provide you with a far better understanding of your physical inventory requirements.
SKUs are alpha-numeric codes that allow you to conveniently track your inventory. The abbreviation stands for “stock keeping unit.” To the untrained eye, SKUs may appear to be random gibberish, yet each letter and number in an SKU carries vital information that can make tracking your items easier.
We’ve prepared a detailed tutorial about how to generate SKUs.
SKUs will assist you in managing your inventory in a variety of ways. Here are three of the most important: inventory levels, efficiency, and replenishment.
Stock levels for eBay shops function similarly to those for other stores. Understanding your stock levels can help you save money by avoiding carrying excess goods that you don’t need. It can also help you generate more money by ensuring that you don’t run out of popular things.
When it comes to efficiency, SKUs aid your warehouse workers in better order fulfillment. A clever warehouse plan with easy-to-find SKUs will not only boost the pace at which orders are filled and sent, but will also lower the number of orders that are incorrectly completed and necessitate returns.
Finally, SKUs can assist you in staying on top of important item restocking. eBay business management software may track stock levels by SKU and re-order items when specific criteria are satisfied. This helps you avoid selling out of a popular item.
Locations of warehouses
Far too frequently, businesses fail to examine how the physical locations of their warehouses may influence their operations. This is true for eBay sellers as well as online and traditional merchants.
While real estate or rental pricing is always a driving factor in purchasing warehouse space, the actual location is also important. Your warehouses, if carefully placed, can boost the speed with which you distribute things to clients.
Companies frequently want to have a single large warehouse near their company headquarters. On the surface, this seems reasonable. Having everything in one central place close to your base of operations simplifies management.
However, in most cases, this means that shipping to other sections of the country (or the world) will be more difficult due to basic geography.
Many firms are better served by having numerous smaller warehouses spread out among the various locations where they do the majority of their business, rather than one large warehouse.
However, some businesses may not be large enough or have the financial resources to operate many warehouses. In these cases, it’s typically advantageous to divide your goods between your warehouse and an eBay fulfillment partner.
Finally, we arrive at audits.
Physical inventory audits should be performed on a regular basis. They enable you to monitor stock levels, identify possible issues, and manage your warehouse for optimal efficiency.
Because an eBay business is primarily an online venture, most owners associate inventory management with data management.
Data management in this arena might encompass a wide range of difficulties, but it all boils down to comprehending information about your stock levels in order to make better judgments.
Understanding how long products spend on average in your warehouse, for example, might help you prioritize future replenishment rates. eBay inventory software can assist you in finding and comprehending this information.
With that in mind, below are some of the most important methods for tracking your eBay inventory data.
We’ll start with a tried-and-true low-tech solution: a spreadsheet.
If you’re a new eBay seller, this strategy may be the best way to get started. Spreadsheet software is widely available, simple to use, and reasonably priced.
The disadvantage here is that spreadsheets do not provide the functionality or timeliness that inventory management software does. This may not be a deal-breaker for a smaller seller who does not move a lot of merchandise, but if you have a high-volume firm, the spreadsheet is definitely not the ideal solution. It necessitates extra work since individuals must enter data into the sheet, which makes it more prone to mistakes than the automated software choices available on the market.
WEB APPLICATION FOR INVENTORY MANAGEMENT
Inventory management software has transformed several sectors, and the advantages of this technology may be applied to your eBay business as well.
Whereas a spreadsheet requires frequent human input and is prone to mistakes, inventory management software automates many of the operations necessary to maintain your inventory in order.
Inventory management software, for example, may notify you of low stock levels, order replenishment, and offer you a wealth of analytical data on how your firm is operating.
There are several inventory management software alternatives on the market, with solutions to suit every budget. It’s just a question of exploring your possibilities, identifying those that meet your requirements, and organizing trials and demos.
Management of Sales
The final pillar of effective eBay inventory management is your sales management.
Sales management may assist you in a variety of ways, including:
SLOW-MOVING STOCK SHIFTING
You should be able to identify things that aren’t selling rapidly by reviewing your physical inventory audits and data analysis.
You may then use this knowledge to find out how to get rid of this dead stock from your inventory. Maybe you’ll put these things on sale, sell them in packages, or promote them as clearance items.
Regardless of how you approach it, the aim here is to get rid of inventory that isn’t generating sales.
CAPITALIZE ON CURRENT TRENDS
Another significant advantage of understanding your inventory is that it enables you to anticipate trends before they occur, allowing you to capitalize on the “next big thing.”
The inventory data you collect over time can help you better understand when specific products sell well, putting you in a better position to ensure you have sufficient of those things on hand before demand increases.
When things are going to go out of season, you will also know not to make significant re-orders.
Benefits of Using eBay Inventory Management
As previously said, whether you’re a smaller eBay seller or are just starting started, the traditional spreadsheet approach is a great place to start.
eBay inventory software, on the other hand, will benefit larger merchants. These solutions will eliminate the majority of the time-consuming work of manually recording data, eliminate potential human error, and automate many of your operations, freeing you up to focus on truly managing and building your organization.
If you haven’t already, look into eBay inventory software for your business. In truth, there is a remedy for everyone.