Inventory management is a large and complex subject. And one that becomes increasingly challenging for any ecommerce business as it continues to grow.
But taking time to master it can have huge pay-offs.
That’s why we put together this complete guide: https://goo.gl/Xja9jk
We go through exactly what inventory management is, the best techniques, forecasting, key metrics and even choosing an inventory management system.
In the meantime, here's a snippet from our post- Inventory Management: 4 Techniques for Your Business
2. Explainer videos often work best with
animation
Inventory Management Techniques
⏰
Just In Time (JIT)
Maintain a very low level of inventory and order goods in as and
when they are needed.
Save massively on storage costs and decrease waste.
3. Inventory Management Techniques
👓
Regular Stock Review
Simply a typical analysis of stock against projected future sales.
Compare current stock levels against future projections to
determine how much inventory to order.
4. Can we do this in house?
Yes, but at a cost.
Inventory Management Techniques
🔤
ABC Analysis
Divide stock into three categories - A, B and C.
● A Items: Are of high value with low sales frequency.
● B Items: Are of moderate value with moderate sales frequency.
● C Items: Are of low value with high sales frequency.
ABC Analysis allows a retailer to prioritise how they manage
different inventory items.
5. Inventory Management Techniques
🔻
Dropshipping
A customer would place an order and then have it fulfilled straight
from the manufacturer or wholesaler.
This can be a great option for startups or smaller businesses
6. Want more Inventory Management
tips for your ecommerce business?
https://www.veeqo.com/academy/inventory-management-
guide
Inventory Management:
A Complete Guide for Retailers.
Read now
