If you’re an online seller, you know how complex the eCommerce world can be. Expanding your business from a single sales channel (such as a web store) to marketplaces (such as Amazon or Walmart) is a huge undertaking.
Adding a sales channel can mean increased visibility for your business, but also increases the level of complexity you’ll need to deal with on a daily basis.
Not only will you need to learn about the platform and how to attract the types of consumers who use it, you’ll also have to ensure your inventory, pricing, and product listings are continuously synced across all selling channels.
Simple errors on the quantity level can result in overselling or out-of-stocks, which can damage your feedback rating and reviews. Lower feedback ratings can reduce your likelihood of capturing and keeping the Buy Box, which can have a drastic effect on sales.
To ensure your inventory is continuously and accurately accounted for across all sales channels, you need multichannel management software.
Multichannel management software manages the products you have in your inventory, the listings you publish to sell them, and the orders that roll in once you make sales.
Here are our top reasons why multichannel management software can help you handle inventory better.
Consistency across sales channels
Multichannel management software allows you to manage single and bulk listings easily and quickly.
Link your sales channels and multichannel software. When a sale is made, your multichannel software will automatically update quantities on every eCommerce channel.
Keeping quantities synced across every platform you sell on keeps your stock counts accurate at a warehouse level, and ensures you’re only selling what you have in stock.
This is especially important for sellers who list both individual and bundled items, such as bicycle retailers, who may sell individual components and complete bicycle setups.
Restocking is also a breeze with multichannel software. Instead of going to each individual sales channel to change your stock counts, simply bulk update your products directly, or add an update via a file upload.
Eliminate fear of out-of-stocks or overselling
Marketplace algorithms decide which sellers to display highest in search rankings, and which seller owns the Buy Box. On platforms like Amazon, more than 80% of sales go through the Buy Box. This makes optimizing your business for these algorithms a crucial focus.
While marketplaces choose to keep their algorithm methods closely guarded, it’s widely understood that sellers who keep all items in stock are more likely to rank highly in search, and capture more Buy Boxes.
This is where multichannel software comes in.
By centrally managing your inventory with multichannel software, you don’t have to worry about out-of-stocks or overselling. You can also set low-stock thresholds, which can alert you whenever stock needs replenishing.
This helps you mitigate the risk of running too low, or running out entirely.
Continuous syncing with warehouse management tools
Another wrench in the complex works of multichannel eCommerce is lag time. If your multichannel software doesn’t effectively integrate with your Warehouse Management Software, you may run into issues with inventory syncing.
Your multichannel software should work to pull data from your Warehouse Management Software in real time so inventory counts are always accurate at the listing level.
And when it comes time to ship orders, multichannel software can aggregate your orders and send them to your Warehouse Management Software.
The world of multichannel eCommerce can be a complex and daunting place for anyone looking to expand their business beyond a simple web store.
As your reach grows across multiple selling platforms, it’s important to have systems in place that keep your inventory and marketplace listings synced.
Multichannel Management Software works in concert with Warehouse Management Software in real time to keep inventory information consistently accurate and synced across all channels.
Less time spent on inventory and multichannel management means more time doing what you do best: running and growing your business.