In today's world, e-commerce businesses have become the natural choice for many entrepreneurs. While setting up an online business is easy, keeping track of your inventory requires some special tools and apps. As a matter of fact, there are several benefits associated with using inventory systems for e-commerce businesses. The main one being that you can easily keep track of all your products in one place and never run out of stock at any point in time.
Why you need an inventory system for e-commerce business:
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Accuracy of stock: If you are running a retail store, then it's obvious that not every customer will buy an item from your store. However, in case of online shopping, people can purchase anything without even visiting the physical location of your store. So if there is no proper inventory tracking system in place, then chances are high that there might be some products missing from the available stock at any given point of time or vice versa too many items lying around which can be sold easily at higher prices than their actual cost price
Avoid loss of money: When you have a proper inventory tracking system in place, then it would be easier for you to predict the exact amount of money that will be spent on various things like rent, electricity bills etc. So when there are no stock records available for any item, then it becomes difficult for you to estimate the profit as well as loss from your business
Customer satisfaction: As mentioned earlier, not all of your customers will be happy with the products that they buy from you. Some might return their purchase without any valid reason. If you have a proper inventory tracking system in place, then it would be easier for you to keep track of customers who are unhappy with the products they bought from you.
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Save Money: By using such a system, you will never run out of stock. This can help you avoid the need to rush shipping, which can be costly, and prevent you from losing out on sales because of out-of-stock items. Additionally, you can avoid overstocking, which can lead to wasted resources and excess inventory storage costs.
Overall, an inventory tracking system can help you optimize your stock levels and reduce expenses, leading to a more profitable and efficient business.
We would like to introduce you the 5 major inventory apps that enhance your business efficiency and save money.
Cin 7
Cin 7 is a cloud-based inventory management solution for e-commerce businesses. It allows you to track your stock and order history, manage product information and images, as well as perform operations such as adding/removing items from your store and updating prices.
With Cin7, businesses can track their inventory in real-time, monitor stock levels, and receive alerts when inventory is running low. The software also enables businesses to manage their purchasing, automate their replenishment process, and optimize their supply chain to reduce costs and improve efficiency.
Cin7 also provides powerful sales management features, such as the ability to create sales orders, process payments, and fulfill orders from a single platform. This includes features such as barcode scanning, packing slips, and shipping labels to make order fulfillment easier and more efficient.
The starting price for Cin 7 is $325 USD per month with 5 users included and 30 connections to choose from.
Cin 7 supports integrations with many shipping carriers such as Shiptheory, Shippit, GoSweetSpot, 3PLCentral, etc, so that you can easily sync your orders with them without having to manually enter them into the system yourself. This makes it much easier for you if you want to get your products delivered faster since all of this data will already be available in one place!
The pros of using Cin 7 include:
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Integrations with many shipping carriers - no need for manual entry of orders into different systems!
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Easy-to-use interface - great for beginners who want an easy way out but don't want something too simple either (it's not just some basic spreadsheet).
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The cons of using Cin 7 include:
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Limited features - if you're looking for something with more features (like a more advanced inventory management system), then this may not be the right choice for you. There are also some integrations with major shipping carriers that aren't available yet (for example, UPS).
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Unleashed
Unleashed is a cloud-based inventory management system that helps businesses manage their inventory, track sales, and fulfill orders. It works by providing a centralized platform where businesses can track their inventory in real-time, and easily manage their stock levels across multiple locations and channels.
The software allows businesses to track inventory movements, including purchases, sales, and returns, giving them a complete overview of their stock levels and helping them make informed decisions about their inventory. Businesses can also use Unleashed to create purchase orders, manage suppliers, and automate their replenishment process, ensuring they always have enough stock on hand.
Starting at $349 USD per month for up to 3 users, Unleashed offers a range of features including:
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Easy-to-use interface that's accessible from any device or browser
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Integrated barcode scanning functionality for fast data entry
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Product-level pricing and promotions management
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Unleashed can integrate with Shopify and Magento ecommerce platforms as well as several third party software solutions including WMS (warehouse management systems), ERP (enterprise resource planning) and CRM (customer relationship management).
The pros of using Unleashed include:
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User-friendly: Unleashed has an intuitive interface that is easy to use, even for people who are not familiar with inventory management software.
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Customizable: Unleashed allows users to customize the software to fit their business needs. Users can add custom fields, create their own reports, and set up their own workflows.
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Analytics: Unleashed provides users with analytics and insights that help them make data-driven decisions about their inventory.
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The cons of using Unleashed include:
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Cost: Unleashed can be expensive, particularly for small businesses. The cost may be prohibitive for businesses that are just starting out.
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Learning curve: While Unleashed is user-friendly, there is still a learning curve associated with any new software. It may take some time for users to get comfortable with the software and learn how to use all of its features.
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Datapel.com
Datapel is an inventory management system that allows you to keep track of your products. It also helps you manage your customers, orders and inventory by providing a single dashboard where all this information is available.
Datapel has a free plan with limited features but if you want more advanced features like importing data from a spreadsheet into Datapel then there are paid subscriptions available. The starting price for subscription is $110 AUD per month per user (minimum 3 users).
Datapel offers several integrations with other apps such as Shopify, Magento, WooCommerce and more. It also supports multiple currencies which makes it easier for ecommerce businesses that sell products in different currencies around the world.
The pros of using Datapel include:
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Integration with other systems: Datapel can integrate with other systems, such as accounting software or e-commerce platforms, which can help improve data accuracy and reduce manual data entry.
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Mobile app: Datapel offers a mobile app, which can be useful for warehouse staff who need to access inventory data on-the-go.
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The cons of using Datapel include:
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Limited customization: Datapel may not be as customizable as some other inventory management solutions on the market, which could be a drawback for businesses with unique or complex inventory needs.
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Limited reporting capabilities: Datapel may not offer as many reporting capabilities as some other inventory management solutions, which could be a disadvantage for businesses that require detailed reporting on inventory data.
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Stockandbuy.com
Stockandbuy is an all-in-one inventory and order management system designed for small and medium-sized businesses. The system syncs inventory levels in real-time, so users can avoid overselling and fulfill orders efficiently.
Stockandbuy also provides advanced order management features, such as the ability to split and combine orders, manage backorders, and create shipping labels. This helps users save time and reduce errors by automating many of the processes involved in fulfilling orders.
It has a starting price of $149 USD per month with 1,000 SKUs included and 1,000 orders per month.
The software supports multiple integrations, including WooCommerce, Magento, Shopify and more.
The pros of using Stockandbuy include:
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Comprehensive inventory management: Stockandbuy allows businesses to manage their inventory across multiple sales channels, helping them avoid overselling and fulfill orders efficiently.
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Affordable pricing: Stockandbuy's pricing is competitive and affordable for small and medium-sized businesses.
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The cons of using Stockandbuy include:
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Limited integrations: While Stockandbuy integrates with popular sales channels like Amazon, eBay, and Shopify, it may not integrate with all the tools and systems that businesses use.
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Limited customization: Some businesses may find that the platform is not as customizable as they need it to be, particularly in terms of reporting and analytics.
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Stocky by Shopify
Stocky is an inventory management and purchasing tool designed for Shopify store owners. It is a cloud-based platform that streamlines inventory management and purchasing processes, making it easier for Shopify store owners to manage their inventory levels, track sales trends, and make informed purchasing decisions.
With Stocky, Shopify store owners can keep track of their inventory levels in real-time, and receive alerts when they need to restock their products. The platform also provides detailed sales reports and analytics, allowing store owners to identify sales trends and make informed decisions about which products to stock and when.
Additionally, Stocky integrates with Shopify's point-of-sale system, allowing store owners to easily manage their inventory across multiple sales channels. This integration helps ensure that inventory levels are always up-to-date, regardless of where sales are coming from.
Stocky is FREE to install in your Shopify app store. It’s built by Shopify so it’s well integrated with Shopify’s features.
The pros of using Stocky include:
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Real-time inventory tracking: Stocky offers real-time inventory tracking, which means you can keep track of your inventory levels and receive notifications when a product is running low or out of stock.
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Automatic restocking: Stocky can automatically generate purchase orders when inventory levels are low, saving time and reducing the risk of running out of stock.
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The cons of using Stocky include:
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Limited integration: Stocky only integrates with Shopify, which means it cannot be used with other ecommerce platforms or marketplaces.
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Limited features: Stocky lacks some features found in other inventory management apps, such as barcode scanning and forecasting.
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Conclusion
In conclusion, we can say that an inventory system is important for e-commerce businesses. It helps you keep track of your inventory and manage it efficiently so that you don't run out of stock or have excess inventory lying around. Also, it increases customer satisfaction by making sure that they get what they ordered from the store without any issues.
