eCommerce Stock Out Issues

Adsbot Growth Team
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Stock out issue

For many companies, selling products from brick and mortar stores is a thing of the past. Many businesses don’t even need a physical location most of the time. Instead, it launches an eCommerce marketplace or sells through different eCommerce platforms. Although eCommerce is effective in the growth and sales gain momentum, it can also cause some problems.

When doing eCommerce, you should be very careful after you bring a buyer through the conversion funnel to the point of purchase. For them to get through this process well and successfully, you must set the purchasing steps correctly. If your customer has some problems at this step, they may refuse to buy. When you tell a buyer that a product is out of stock after placing an order, it may harm your corporate identity.

So, what is the inventory management used to prevent such situations? How should you do inventory management while doing eCommerce? Which automation can you use?

What Is Inventory Management?

Inventory management involves acquiring and storing the products you intend to sell in a warehouse or stock. Inventory management records data such as the number of products, their pricing, volume, and where they are located in warehouses. As a result, customers can access products whenever they want, and you can prevent your company from having too many or too few products in stock. In addition, with this method, you can adjust the cash flow more efficiently.

 

What Is the Difference Between Retailing and Wholesaling?

A crucial aspect of inventory management is to whom you market the product. If you sell a product to a retailer or an industrial organization, it’s wholesale. Your target audience at this point is businesses, not customers. But if you want to market a product to a customer, it’s retail. To have a firm hand in the operations, you should set up your inventory management wisely. By determining your target audience, you can stock up by considering the acceleration of the product over time.

Inventory Management Techniques

You focus on the following seven main techniques to perform inventory management that will facilitate your processes of controlling your stock.

ABC inventory analysis

This technique, which supports the classification of an inventory in three different ways, is critical for inventory management, and it enables you to adjust the product stock in order of demand, cost, and risk.

Just-in-time (JIT)

Holding too much inventory is costly and often unnecessary. With this technique, you can act according to the needs by keeping a small stock according to the demands.

Backordering

Saying that the product is out of stock is disappointing for many customers. So, for instance, a tool for pre-ordering would be valuable in terms of customer loyalty.

Cross-docking

The process of reaching the buyer by passing through the storage stages of the product less often is called cross-docking. This is because the products purchased from the wholesaler are transferred directly to the vehicle that goes to the buyer, the storage processes are skipped, and the transactions are carried out.

Dropshipping

It is possible to do dropshipping in general or in a niche market you want to sell. With this method, you can do stock-free eCommerce. All you have to do is open an eCommerce site and bring the retailer and buyer together.

Avoid Google Ads problems with Adsbot

When managing inventory, you need to define SKU for each product through Google Ads. This identification is an identity such as a barcode consisting of numeric numbers belonging to your product. Sometimes, your product may stand out from other identities on different eCommerce sites. Or, an ad might be still running even after a product is out of stock. In such cases, you can choose Adsbot to send you notifications automatically.

Use inventory management software

Since you sell products online, you collect a lot of data during these processes. For example, you may see how often products are purchased and how much demand is received from eCommerce sites through data. One way to manage inventory is to analyze this data using software tools and create strategic plans. You can use the following tools to achieve this.

Freshservice

It allows you to run many IT operations that your company needs. It has good use in many aspects like inventory management, maintaining projects, and creating catalogs. Pricing starts at $19 per month after 21 days of a free trial.

booqable

booqable allows you to monitor your products and reservations in real-time as inventory management. In this way, you can avoid problems such as out-of-stock or conflicting reservations. Its fee is $29 per month.

EZOfficeInventory

With this software, which also you can manage assets via mobile applications, you can check your product stock at any time and replenish your stock with short transactions. It also notifies you of new developments instantly by e-mail. After 15 days of free usage, its monthly fee is $35.

monday.com

With monday.com, where you can easily manage your inventory without dealing with any code, you can also get a broad view with integrations such as Excel. The monthly fee for this software, which you can access via mobile applications, is $10.

UpKeep

UpKeep provides a significant advantage in executing almost every stage of inventory management. In particular, you can create an organization and reach suppliers through UpKeep. Its monthly pricing starts from $45.

Last Remarks

You can achieve customer satisfaction and prevent unpleasant stock surprises by combining an inventory management tool and Adsbot. While the former enables you to deliver flawless service to your customers, Adsbot can save you time and money for your campaign by letting you know the stock out issues and prevent extra cost for Google Ads. Start testing Adsbot today and see its effects on your Google Ads campaigns with our 14-day trial.


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