Efficient FBA product inventory management can help sellers better meet customer demand, improve shopping satisfaction and positive feedback, and facilitate the long-term development of sellers’ business.
To ensure adequate inventory and avoid inventory backlog or out-of-stock problems, stores need to adopt a series of effective FBA product inventory management strategies. To do a good job of the basic work for the long-term development of Amazon stores, let’s understand how to do a good job of FBA inventory management.
Effective FBA product inventory management strategies
Regular inventory check
It is necessary for sellers to do a good job of pricing inventory checking, and some sellers usually cAonduct an annual inventory of the Amazon FBA warehouse at the end of the year to ensure that the recorded figures are matched with the actual inventory in the warehouse.
However, this way method is more time-consuming and labor-intensive, Amazon stores can check their inventory on a weekly or monthly basis on a regular basis.
Make forecasts for sales
An effective replenishment strategy is the key to keeping the inventory well stocked and avoiding stock outs. Amazon stores should have a clear replenishment strategy based on inventory planning and forecasting. This includes determining the right quantity, frequency and method of replenishment.
Replenish inventory in a timely manner based on the sales rate of the product and inventory turnover to avoid stock shortages affecting sales. At the same time, care should be taken to avoid excessive replenishment, which may cause problems of inventory accumulation and capital utilization.
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Sellers are more in need of a third-party tool that can efficiently handle FBA inventory to improve their business. Here are 3 recommended inventory management tools for Amazon sellers to help sellers realize efficient inventory management.
FBA product inventory management tools
Brightpearl
Brightpearl is to provide sellers with inventory, orders, customers, financial integration of inventory management services system. At the same time this tool also through retail accounting, online and offline multi-channel retail and order management software to help sellers better insight into internal demand and realize profit growth.
RestockPro
RestockPro is a cloud-based data inventory management tool designed to help Amazon sellers track inventory orders and save shipping time. Whether sellers use FBA or not, RestockPro helps sellers process orders efficiently.
Sellers can track all inventory data, make order estimates, streamline operations, manage suppliers, print customized labels, create kits, and more with RestockPro.
Joelister
JoeLister is the most convenient and fastest eBay-Amazon cross-platform inventory management tool. With this tool, sellers can fulfill eBay orders using their own Amazon inventory. It supports:
- One-click listing setup： Automatically upload images, descriptions and product information of Amazon items to eBay product listings.
- Quantity Synchronization： Automatically synchronize the latest inventory quantity between Amazon and eBay.
- Auto Shipping：When sellers get the latest order on eBay, JoeLister will automatically transfer the order to Amazon inventory for shipping and upload the tracking slip number.
About how to use FBA product inventory management tools：
Seasonal FBA product inventory management
Analyze historical sales data: carefully analyze the sales data of the past few peak seasons to understand the sales trend and peak sales of the product. Based on the historical data, predict this year’s sales and plan inventory accordingly.
Consider the supply chain time: when planning inventory, consider the supply chain time, including production, transportation and the time Amazon receives and processes inventory. Make sure you have enough lead time to prevent supply chain delays from causing inventory shortages.
The use of safety stock strategy: in inventory planning, it is recommended to set a certain level of safety stock to cope with sales peaks, supply chain delays or other unforeseen circumstances. The safety stock level can be adjusted based on historical sales data and forecasted sales.
The use of Amazon’s inventory management tools: Amazon provides a number of inventory management tools, such as Fulfillment by Amazon (FBA) inventory management dashboard. Inventory can be better managed by monitoring inventory levels, forecasted sales, and Amazon’s receiving and processing times.
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