So you want to win the Buy Box…
Did you know that over 80% of Amazon sales are Buy Box purchases? Did you also know that the percentage goes higher when looking at mobile device users.
Anyone who sells on Amazon wants the Buy Box, but sadly most feel like it’s something they’re unlikely to attain.
A key component to achieving the coveted position is to have superb seller ratings. If your ratings are less than 5 stars, you will have problems winning the coveted position. And, if your ratings get too low, Amazon may decide to kick you off the platform altogether.
Don’t worry. This post details a few tricks that only the most savvy and disciplined online sellers put in to use. Done properly, living by these principles can lead to success on Amazon, and maybe even the Buy Box.
So, take a look at the behind-the-scenes provided by Inventory and Warehouse Management Software that go into speedy order fulfillment.
Eliminating human error is one of the clearest ways to lower costs and make an impact on seller ratings.
There are many ways to ensure every order goes out correctly and at the right quantity. You need to have streamlined processes that minimize mis-picks and damaging of items.
A clean pick/pack/ship process is a must if you want happy buyers.
You need to be able to do quality control at the exact same time an order is picked. Also, you need automated digital or paperless picking and customized workflows and routing, and the ability to pull orders from multiple channels and platforms in real time.
The quality control history report informs you what’s going out so you know what you need to have coming in. This takes the worry out of checking and re-checking orders, so that you can focus on selling more.
Demand Planning and Forecasting
Selling smart on Amazon all begins with making smarter purchasing decisions.
To do that, you have to understand your sales history and cycle in order to make educated purchase and ordering decisions. This way, you stay ahead of the pack when it comes to buying trends and can be assured that you have the right items in stock at the right time.
This is what is meant by smart reporting – the ability to have full knowledge of what stock needs to be replenished in your warehouses, clear insights into user accountability, and information about transaction quantity changes and when you need to create a new PO to your suppliers.
All in real time.
Organized Cycle Counting
Accurate cycle counts are how you sustain appropriate inventory levels.
You need to strive to create processes that help you minimize expensive and labor-intensive physical counts which slow productivity, and increase the inherent cost of doing business.
Cycle counting lets you know how much inventory you should have vs. how much you actually have.
Dynamic Locations and Routing
Dynamic location functionality gives you the freedom to create your own set of guidelines for where items in your warehouses belong.
Customized pick routes save you time when sorting because they can be updated in real time, based on the needs of your team.
You need processes whereby the user is always routed to the most logical location by SKU.
For this to happen, you need to be able to tailor product locations to accommodate all location sorting, and it needs to be in line with the business rules you create.
Managing Stock Levels
Smart Amazon sellers know the importance of tracking component quantities and locations.
Kitting features found in inventory management software let you manage stock levels in ready-to-ship kits, drastically reducing fulfillment time.
Insights into inventory locations and quantities, including backstock and reserve locations cannot be overlooked. If managing inventory out of multiple warehouses, you have to know where your inventory is at all times, at all stages of the process.
You need to know the destination zip codes for proper routing, basically mimicking Amazon-efficiency routing.
The reality is that achieving the Buy Box is very difficult, and most sellers won’t ever see it. Intense competition with other sellers, and now with Amazon itself, can make it all the more daunting.
Even if you think the Buy Box is unattainable for your business, it would be wise to take heed of the tips laid out above in order to have success selling on Amazon with an inventory and warehouse management software.