10 Industry Leaders Weigh in on the Importance of E-commerce Inventory Management Software
Building an e-commerce shop requires managing a wide range of complex processes, including inventory, marketing, and operations. Many shops start out in basements and spare rooms, growing slowly while single owners manage everything themselves. As shops grow, they require more skills, time investment, and a considerable amount of labor, planning, and knowledge.
E-commerce software makes these processes easier by automating repetitive tasks and processes, and reducing the labor required to get the same results. Automation allows your store to scale quickly without the expense of hiring more and more employees to handle paperwork, inventory management, logistics, and so on.
While you still need skilled staff, inventory management software brings everything together, enabling you to create an efficient and profitable business with a few core employees who know what they're doing.
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E-commerce inventory management software can help stores increase profits by enabling better tracking, better usage of data, allowing stores to prevent stock-out events, and avoid overselling and understocking. That way, a store can maximize profit, boost customer satisfaction, and improve customer service.
To highlight how valuable it is, 10 industry experts weighed in on how e-commerce inventory management software helped them to grow and improve.
The importance of e-commerce inventory management software
Save time on processes and management
E-commerce inventory management software is extremely valuable for saving time, especially with tools like automation, analytics, and automatic reorder points. It helps you control your inventory while spending less time on it. E-commerce expert David Romese weighs in.
"We are an e-commerce company that sells across 4 platforms, Shopify, Amazon, Jet and eBay. Before we got Skubana, I was going back and forth in between the 4 platforms to make sure everything was running smoothly, orders importing correctly, tracking updating correctly and accurate inventory counts. We also use a 3PL for fulfillment. Skubana has eliminated by need to "babysit" those channels.
Another wonderful feature I utilize with Skubana is automatic PO generation. No more plugging numbers into Excel spreadsheets to see when I need to reorder. Skubana takes a set period of previous sales and factors in current inventory, lead time and minimum order quantities and auto generates POs when needed. It is honestly like the assistant I never had.
Skubana saved me 10+ hours per week." - David Romese
Achieve inventory accountability
Inventory accountability means knowing what is in your inventory, when it will sell out, when it will lose value, and so on. This kind of knowledge is crucial to achieving long-term profitability and growth, because you need to ensure that you are investing in the right areas, moving products quickly enough, and accounting for every item in your inventory.
"As a jewelry company, we need to take special care of inventory trackign and management. We have plenty of moving pieces, some no larger than a pair of earrings, that must be accounted for at all times. Skubana helps us ensure we always know where our inventory is, which pieces sell the best across multiple channels, and when it's time to reorder so that we never run out of stock." - Pavoi
Achieving efficient management without a huge amount of time investment is difficult, especially if you don't have the resources to hire a full-time e-commerce manager. E-commerce inventory management software can help you to bridge this gap by keeping data in order, using analytics and algorithms to perform calculations, and to automatically generate paperwork like purchase orders to save tens of hours every week.
"Out of the Box, Skubana has key features that allow us to run our business without worrying about all of the little details that normally bog down e-commerce stores with multiple warehouses and sales channels. The forecasting tool for our warehouse is a great feature and works as well as competitive tools. Our favorite tool is the automatic PO generation because it saves us ours every week. " - Cleaner Filters
Automate your orders and shipments
Automation enables you to reduce human error, cut costs, and reduce the hours spent on handling inventory. Once set up, good automation tools allow you to use If This Then That rules to handle things like re-order alerts, flagging products that aren't selling, tracking profitability, order processing, and updating inventory across all channels to prevent selling out or over selling.
Sam Shackleton of Cross Path Capital suggests that e-commerce automation, from a system designed for e-commerce, is key to scaling your e-commerce business.
"If you are serious about growing your e-commerce business, you need an automated system to manage inventory and link all of your sales channels in one central location. Skubana solved this and then some for us. Designed specifically for e-commerce businesses, this software has all the necessary tools that other software's may lack because they were designed for general business applications outside of the e-commerce realm. Exactly what we needed to automate repetitive, non-revenue generating tasks to free up time to focus on scaling our business." - Sam Shackleton, Cross Path Capital
Integrate across multiple channels
"We were selling through Shopify, Amazon, Jet, and eBay. Before we got Skubana, I was spending hours a day bouncing back and forth between the 4 selling platforms, making sure orders were importing correctly, stock quantity was current, and making sure tracking information was uploaded for each order. Skubana easily integrated all four selling channels along with our 3PL we used. It has easily saved me 10+ hours a week" - David Romese
Other sellers agree that knowing where and how you are making sales is crucial to multi-channel success.
"For me, the biggest advantage with it was the orderbots, this feature basically lets you customize and automate your order process depending on many variables. For example, from which warehouse did the product come, what sales channel did the sale come through, what label does it have (you assign this personally, and others." - Source
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Supercharge your business growth
Automating processes, controlling your inventory, and improving the efficiency of your inventory management enables growth. By streamlining your processes, you can effectively keep up with growing demand and order processing without investing capital that you don't yet have.
"We switched from QuickBooks Enterprise to Skubana about four months ago to streamline our process and maximize efficiency. Our business model is based on drop shipping from multiple manufacturers and sales orders coming in from multiple channels and marketplaces. Skubana allowed us to automate connections to both suppliers and selling channels, which saves us a ton of time.
Switching to Skubana was a great move for our business, as there is no way we would've been able to keep up with the growth we are experiencing without that team." - Source
Get oversight and control over your inventory and warehouse
Inventory software helps you maintain control over your inventory and warehouses. Without knowing what you have, where it is, and whether it's costing or making you money, you can't make informed decisions that will enable growth.
Good software provides a clear picture into your inventory and more by providing precise information, identifying best sellers, tracking warehousing and storage costs, and showing you which inventory to cut.
More importantly for scaling businesses, it helps you to prevent overselling, which can dramatically damage your business reputation at a time when customer trust is reliant on good reviews.
"Most important to my line of work is to not oversell any items. It is disastrous when you have to tell a customer that they're not able to purchase a collectable item they paid for let alone the time it takes away from customer service to remedy the situation. Every time an item is oversold, you have the potential to lose a customer, so we're glad to have a handle on that situation.
We've been able to really have a handle on inventory that is handled by our 3PL. No overselling. Educated liquidations. Bulletproof ordering process." - Dustin, A.
Enjoy all-in-one solutions
Finding an all-in-one solution to meet multiple needs, like order processing and shipping as well as inventory management can help you to reduce total costs and investment in e-commerce tools.
While not always the best solution, it is the most straightforward and cost-effective for most types of businesses. All-in-one software means reduced expenses and lowered time investment.
"We have been using Skubana for about a year now and it is really fixed our inventory issues. The best part – the staff. Emily walked through onboarding with us every step of the way and is still available to jump on a call or respond to us with questions. We have about 30,000 SKU's with inventory in our own warehouse and Amaozn.com - so we needed a software that worked well with both. We tried 5 different programs before Skubana, so we did our homework. We also used different shipping programs before, but Skuabana eliminates those and really works well as an all-in-one solution. SO, bottom line is if you are looking for an all-in-one solution to keep track of inventory on all your platforms, issuing PO's, shipping, don't look any further." - Source
Grow revenue with better inventory management
Improving your inventory management enables you to increase revenue and sales, because you know which products are selling and which are not. Over time, this enables you to make calculated decisions to increase the visibility of high-selling products, to improve marketing for low-selling ones, and to liquidate those that are costing money. And, by speeding up and automating order processing and inventory updates, you can increase your ability to handle changing sales volumes without overwhelming staff.
"Game changing SaaS. Automated our business. Have tried all software on the market and Skubana is by far the best out there. Increased multiple marketplace sales by over 50%."
Do good business
Good business management means reducing costs, increasing efficiency, and providing better service to customers. E-commerce inventory management software makes this possible by giving you the tools to handle more orders, process more quickly, offer better service, and keep better track of costs related to active inventory.
"Inventory management and straight forward analytics are greatly improved since we've been using this software. Our inventory control is far greater now and our ability to scale has increased drastically since we can now fulfill more orders and sell more products with this great tool. The idea of an affordable all-in-one tool seemed too good to be true but we found that this software really works. We've been able to increase our business by over 30% without adding any additional overhead other than Skubana. Additionally, through the use of inventory reports we are able to see which SKUs we need to liquidate and which we need to place greater emphasis on. " - David W
While the benefits of e-commerce software depend on your business and current challenges, successful e-commerce store owners all agree, software has a positive effect on your store, your ability to scale, control, and earnings.
Skubana is an all-in-one e-commerce management tool, offering ERP, inventory management, warehouse management, and automation. Schedule a demo to see how it works and if it's right for your store.