How to Do Shopify Inventory Management Handily

Inventory management is one vital aspect that determines the success of a Shopify merchant. You can design a beautiful website and apply the right marketing strategies, but exempting inventory management can cause a series of problems for your store. This is why we deemed it fit to talk about Shopify inventory management and how sellers can go about it. In this article, you will learn what inventory management is all about, why inventory management is important, and the best Shopify inventory management app.

What is Shopify inventory management? Inventory management Shopify is the process of organizing and managing stock accurately on online stores. It is a crucial aspect of any eCommerce business that should not be overlooked. Inventory management helps sellers to view inventory, adjust inventory levels, and track inventory accurately throughout the supply chain. If you are not sure how to go about Shopify inventory management, then this short guide will walk you through the entire process. Just stay tuned!

Why is inventory management important for Shopify?

The best Shopify inventory management provides actionable insight into your inventory, allowing the seller to understand when to restock each product. This is crucial to running an effective eCommerce business, especially for businesses that sell seasonal products (e.g. Halloween costumes) or perishable items. Check out seven reasons why inventory management is important on Shopify:

1. Saves time and money: Applying the best Shopify inventory management techniques will save time and money needed to keep your online store functioning.
2. Prevent overstocking and understocking: An inventory management system helps sellers to prevent overstocking (stocking excessively) and understocking (stocking recessively).
3. Manage cash flow: Inventory management gives sellers an accurate view of their cash flow and assets. This helps to better understand how much sellers should budget for stock or invest in counter projects.
4. Avoid spoilage: Shopify inventory management software can help retailers sell perishable items like tea to avoid unnecessary spoilage.
5. Increase customer satisfaction: What’s more, keeping your online store updated will automatically increase customer satisfaction, since they always get what they see on your site.
6. Sell on multiple channels: As your eCommerce store grow, manually tracking and fulfilling orders will prove difficult. With Shopify inventory management software, selling on multiple channels will become relatively easier.
7. Forecast demand: The best inventory management software Shopify will help you track and forecast sales during different parts of the year.

Best Shopify inventory management apps & integrations

Now that you know the benefits of inventory management Shopify, which app, software, or integrations should you try? An in-depth understanding of inventory management and how it works can help you prevent common problems. Below, we have listed the best 5 Shopify inventory management software to avoid overstocking, overselling, and understocking.

1. Katana

Katana is a powerful inventory management app for stores that manufacture their products rather than resell items produced by others. This Shopify inventory management software allows sellers to manage raw materials, finished goods, and sales orders all in one dashboard. Thanks to its intuitive interface, Katana is easy to use and keeps track of the production process.

Katana pricing

• Katana Essential costs $99/month + $29/month for each extra user – billed annually.
• Katana PRO costs $299/month + $39/month for each extra user – billed annually.

2. Inventory Source

Inventory Source is ideal for sellers who need dropship automation and an integrated supplier platform. Inventory Source integrates seamlessly with your supplier’s inventory to synchronize inventory, upload product data & connect inventory quantities with over 25 different online marketplaces, stores, and multichannel management platforms.

Inventory Source pricing

• $99/month
• $599/month

3. Skubana

Skubana is best for businesses selling on different channels. This robust Shopify inventory management software can help sellers reveal seasonal trends, forecast multi-warehouse demand, calculate each SKU’s profitability, and automate purchase orders. Skubana integrates with other third-party online marketplaces like eBay, Walmart, and Amazon. Skubana pricing

Skubana starts at $1,000/month.

4. SkyVault

Online store owners use SkyVault to synchronize quality SKUs, manage inventory/sales, and ship items faster to customers. This Shopify inventory management software can also be used to connect all your channels and organize easy workflows to prevent overselling, understocking, and overstocking. Its powerful cloud-based data sharing and data-driven decision-making features help to increase accuracy in fulfillment, which can drive your growth at every level.

SkyVault pricing

$199/month (2 users included).

5. Stocky

Stocky is another multi-functional Shopify inventory management software that works flawlessly with Shopify POS Pro. Store owners use Stocky to manage purchase orders, and forecasting, and have a better overview of what items to sell in a particular season. Stocky also offers tracking functionality that helps to minimize mistakes and improve customer experience.

Stocky pricing

FREE!

Features to look for with Shopify inventory management software

Before deciding on which inventory management software Shopify to choose, there are certain features to watch out for. From the app store rating to the number of reviews, the app’s features to other parameters, the following features will help you in your quest to choose the best Shopify software for your store.

1. Extensive and detailed inventory tracking: The best Shopify inventory management software should be able to track all orders and order fulfillment information accurately and also receive notifications on when you need to purchase additional stock.
2. Sales forecasting capabilities: Your choice Shopify inventory management software should automate PO (purchase order) generation as soon you run low Predicting the reorder quantity based on sales forecasts is a bonus.
3. Shared inventory across listings for similar products: TheShopify inventory management app should help you manage multiple listings that originate from a single inventory resource.
4. Cross-channel functionalities: Look for the app that can help you customize how inventory is shared across listings as well as insight into your SKU’s profitability across each channel.
5. Reports and inventory analysis: The inventory management app that you choose should offer real-time reports and inventory analysis tools that fit your inventory management methods.
6. POS integration: POS integration is important for those selling from a physical store. Your Shopify inventory management software should allow you to automatically synchronize online and in-store orders and stock levels without flaws.
7. Multi-warehouse and multichannel functionality: An ideal inventory management app should synchronize your inventory in multiple sales channels, update inventory, and ensure that stocking in warehouses is accurate.
8. Integration with other apps you use: Your choice app should offer seamless integration with third-party apps like POS (Point-of-Sale) systems, website eCommerce tools, and dropshipping suppliers. The best inventory management software will work hand-in-hand with reputable dropshipping manufacturers and suppliers. Platforms like SaleYee empower retailers to sell easily and earn globally. Recently SaleYee Dropshipping App has been launched in the Shopify store, which can one-click import products from SaleYee to your Shopify store, enabling you to save effort in order and logistics management when fulfilling your dropshipping businesses. The SaleYee platform works seamlessly with the best Shopify inventory management app to provide professional services to retailers. On this platform, you will find over 30,000 profitable SKUs from seasonal/trendy/in-demand product categories. Unlike other third-party apps or platforms, SaleYee is completely FREE to use plus you get big discounts and huge bonuses on most purchases.

CONCLUSION

The importance of inventory management software Shopify cannot be overemphasized. Are you aware that an inventory management app is one of the secrets of successful eCommerce businesses? With this knowledge-based, we hope you now know the rudiments of choosing Shopify inventory management apps. Which of these inventory management apps do you like? Feel free to leave a comment below.