Use one central location for storing the information needed for all your listings, across all your channels and marketplaces, and one place for creating item titles, descriptions, images, locations, suppliers and so on. Automate the import and distribution of your product information out to the relevant channels as quickly and accurately as possible.
Adapt your data
Look at data manipulation technologies to adapt your product data to each channel to meet the category and item-specific information, as well as cut down on your manual overhead from all the interventions and deploy staff to more value-add roles. Consider outsourcing the completion of your data to a managed service that specialises in this area.
Reconcile your stock levels
Strive to keep your stock levels accurate, especially with drop-shippers who hold the stock and the information on their stock levels. Automate the stock level adjustments across marketplaces as you sell. Get the control to keep low stock levels and minimise the amount of money you have tied up in stock, while also evading the risk of overselling.
Harmonise your pricing
Automate the management of your multichannel pricing and avoid the manual headaches. You can also take this approach for the different pricing you might have across separate channels and even for different seller IDs. Avoid the damage of overselling by setting minimum stock thresholds and the automatic triggering of stock replenishment.
Monitor your movements
Make sure you have visibility into your stock movements. Get detailed reporting to analyse where you’re at and provide you with alerts to certain stock situations. Monitor your dead stock, slow-moving stock, zero stock days, your re-order lead times, stock availability, your best sellers and their sales velocity. Set re-order alerts for your best sellers.
Getting great at inventory & stock control
When you get great at inventory and stock control you increase your efficiency. Volo helps companies reduce costs through streamlined inventory processes and reliable supplier feeds. Winter sports equipment, clothing and accessories merchant The Board Basement uses Volo to manage its inventory and stock control and has gone from £250,000 to £1m in 3 years.