Flipping Heck! Learning To Be Productive One Day At A Time

Inventory Management Solutions for e-Commerce Businesses

Person in hard hat and high vis vest using inventory management software on a laptop

Inventory Management Solutions for e-Commerce Businesses Staff
  • Staff Twitter
  • Staff Facebook
  • Staff Pinterest

Running an e-commerce business requires you to wear many different hats throughout the day. If you’re still in the beginning stages of your business, you may be ordering inventory, picking orders, and shipping products all on your own.

Larger companies choose from various stocking and shipping methods that work best for their products, suppliers, and their customer base. However, even experienced companies deal with inventory issues that can damage their reputations and take time and money to fix.

No matter the stage your business is in, a little planning will go a long way toward ensuring long-term success. Follow these two tips to refine your e-commerce process.

Refine Your Inventory Storage System

With a business, everything comes down to organization. The order you keep at your e-commerce business’s most basic level will radiate outward, affecting every aspect of your enterprise.

Depending on your business’s size, your ideal organizational model will vary. However, all e-commerce inventory storage systems are based on two basic principles: giving both items and storage spaces names.

Photo of a contract with a pen and judge's gavel sitting on it
From intellectual property rights to privacy regulations, and contract disputes to online defamation, the legal issues surrounding internet entrepreneurship are diverse and evolving. To cast light on these obstacles, we have enlisted the assistance of seasoned business attorneys with expertise in the field of online entrepreneurship. They will provide valuable...

Item names or labels are called stock-keeping units, or SKUs. They include a bar code as well as a number identification system that should be consistent across all your stock. These numbers should be as simple as possible. For example, they could refer to the company, category, and design of an item.

Picking locations where you store stock should also be given a clear number or letter system. If each row, shelf, and box are labeled, it will be much easier for pickers to find and ship items quickly without making mistakes. Labeling can help prevent any over- or understocking of products, saving you money and hassle down the line. A clear labeling structure is essential for your e-commerce business’s success!

From Passion To Profit

Switch Up Your Shipping Model

E-commerce customers want consistency, accuracy, and transparency from your store. One of the best ways for you to fulfill their trust is to find the shipping method that best fits your business model.

There are many different ways that e-commerce businesses can organize their order processing model, and each has its pros and cons. The models that require the least amount of effort from you call for a close relationship with a trusted supplier.

Two of these models include drop shipping and just-in-time fulfillment. Dropshipping can be an inventory management solution because it doesn’t require a picking location or storage facility. With dropshipping, you send the order information directly to your supplier, and they pick and ship the order directly to customers.

Computer code on screen
In this week's round-up we take a look at the meaning of dreams, how games stack up against movies when it comes to how many people work on them and how you can take the leap into programming.

The just-in-time fulfillment model is similar to dropshipping but requires a little more work from you. With this inventory model, you order stock from your supplier as soon as an order comes in. When the stock arrives the next day, you ship it out to customers.

Because it’s your reputation on the line, you have to know that your suppliers will fulfill orders quickly and accurately. If shipping consistency is already something your store struggles with, you may want to consider other inventory management solutions.

Start Small

Whether your store is still small or business is booming, there’s no time like the present to improve your inventory management systems! Follow these two steps to create a foundation that can carry your e-commerce business into a bright future.

Please Note: This post may contain affiliate links. By clicking on these links you will not be charged any extra for purchasing goods and services from our preferred partners however may receive financial compensation which contributes to the running of the site. For more information please read our Advertising & Affiliate Disclosure Policy

Leave a Reply

Your email address will not be published. Required fields are marked *