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How to Effectively Manage Inventory Through Multiple Channels

Multichannel

In order to effectively manage your inventory through multiple channels, you need to use the right tools, such as an online inventory management solution. We’ve already offered nine ecommerce inventory management tips in another article, so be sure to check that one out. In this article, we are going to broaden the topic to include not only ecommerce channels, but also tracking inventory in multiple locations and drop shipping. All of them can be included under the broad category of channels through which you sell your products to customers.

Let’s get started!

Multichannel

USE THE RIGHT TOOLS

Boxstorm is an online inventory management solution that can turn smartphones into barcode scanners. It comes in four versions, the highest of which (Boxstorm Ultimate) offers the following features:

  • Add and Remove Inventory – Increase or decrease the quantity you have in stock.
  • API Access – Create your own integrations, reports, and special modifications with this access.
  • Apps – Get a free Android or iOS app to turn your smartphone or tablet into a mobile barcode scanner.
  • Audit Trail – Keep track of what changes are made at specific times by different users.
  • Auto Ordering – Automatically generate purchase orders and send them to default vendors.
  • Create Items – Identify the items you have in your inventory with names, images, descriptions, etc.
  • Customer Management – Keep track of customer names, addresses, contact information, purchases, etc.
  • Cycle Count – Use a mobile device to update inventory levels when there is a discrepancy.
  • Default Locations – Assign main locations to each part and product.
  • Default Vendors – These will automatically appear on purchase orders when reordering items.
  • Help Center – Here you will find a checklist to get started, training videos, documentation wiki, FAQs, software release notes, and support plans.
  • Import and Export Data – Use Excel spreadsheets to smoothly transfer data in and out of Boxstorm.
  • Integrations – Boxstorm currently integrates with QuickBooks Online, Shippo, Shopify, and Stripe.
  • Item Categorization – Organize items into groups to find them more easily.
  • Item-Based Unit of Measure Conversions – Convert units of measure down to specific items, which can’t be divided any further.
  • Locations – Create multiple locations to store inventory in.
  • Move Inventory – Transfer items from one location to another.
  • Payments – Accept money from customers in exchange for your products and/or services.
  • Purchase Orders – Create purchase orders manually or automatically to replenish your stock.
  • Purchasing Reports – Generate these reports to study purchasing trends over time.
  • Sales Orders – These come in from customers when they buy something from you.
  • Sales Reports – Explore sales trends to prepare for fluctuations in demand and unique trends by location.
  • Sales Representatives – Add salespeople to your system to assign them certain customers and record their sales.
  • Scan In and Out – Use barcodes and scanners to increase data accuracy.
  • Stock Alerts – Assign quantity levels at which you will be sent a text or email to reorder items.
  • Support – Contact Boxstorm support staff via email, live chat, or phone.
  • Taxes – Calculate and collect sales tax from customers.
  • Tracking Items – Use lot numbers, batch numbers, and expiration dates to track inventory.
  • User Permissions – Allow users to access clearly defined features and modules in Boxstorm.
  • Unit of Measure Conversions – Perform simple conversions of one unit of measure to another.
  • Units of Measure – Create as many units of measure as you like to attach to your items.
  • Vendor Management – Identify vendors and record transactions with them.

INTEGRATE INVENTORY SOFTWARE WITH AN ECOMMERCE PLATFORM

Boxstorm integrates with a popular ecommerce platform called Shopify. This integration gives companies the ability to:

  • Transfer item names, descriptions, images, quantities, and other information from Boxstorm to Shopify.
  • Automatically update inventory records shortly after a sale is made.
  • Speed up the order fulfillment process with the aid of barcode scanners, batch picks, and other tools.
  • Get automated texts and emails when item quantities fall below their stock alert levels.
  • Update all integrated business solutions with revised quantities and sales numbers to keep them synchronized.

TRACK INVENTORY IN MULTIPLE LOCATIONS

Boxstorm removes the guesswork when it comes to locating items and finding a good home for them. If you have multiple brick and mortar retail stores, warehouses, and/or other places of business, you can keep track of your inventory in all of them by setting up multiple locations within Boxstorm. Keep everything organized right down to the bin, shelf, and aisle number. If you experience an inventory imbalance in which you have an abundance of items in one location and a shortage in another, you can quickly transfer some of those items from where you have a surplus to the one that needs more.

IMPLEMENT A DROP SHIPPING STRATEGY

If your business uses drop shipping to save on carrying costs, you can still use Boxstorm to your benefit. Work with multiple vendors, assign a default vendor to each product in your inventory system, and make sure shipments reach their intended destinations on time.

TRY BOXSTORM

No matter which channel you use, or if you have multiple channels, you can put Boxstorm to work to make your operations run even smoother. Get a free account with Boxstorm Forever Free today!

 

TL;DR SUMMARY

There are many channels you can use to sell products to your customers. To effectively manage your inventory across these channels, you should consider:

  • Using the right tools.
  • Integrating inventory software with an ecommerce platform.
  • Tracking inventory in multiple locations.
  • Implementing a drop shipping strategy.