If you run an online store, you know how important it is to keep inventory tracking on Shopify. Knowing what products you have in stock when you need to restock, and how much of each item you have can help you make informed business decisions and keep your customers happy. In this article, we’ll discuss the best practices to keep inventory tracking on Shopify.
How to Keep Inventory Tracking on Shopify?
Inventory tracking on Shopify is a crucial aspect of running an e-commerce business, and when it comes to Shopify, keeping track of inventory becomes even more essential. Whereas, Shopify is one of the most popular e-commerce platforms and offers robust features and tools to help merchants efficiently manage their inventory.
Steps to enabling inventory tracking on Shopify
Here are the few steps to enable tracking multi-store inventory management on the Shopify account
- Go to your Shopify account admin, navigate to “Products” and click.
- Click on the product’s name you want to track from the list of products.
- Locate the “Inventory” panel, and under the “Inventory policy” drop-down, select “Shopify tracks this product’s inventory”:
- After you have done this, enter the “Quantity” of the product you have in stock; thereby identifying your inventory volume:
- Click the blue “Save” button located at the top right-hand corner of the screen:
9 Best Practices to Keep Inventory Tracking on Shopify
For inventory tracking on Shopify account, it is essential to setting up inventory tracking on Shopify. It ensures accurate stock counts and availability information for your products.
Describe the steps to enable inventory tracking and how it affects product listings and order management.
1. Enabling Inventory Tracking
Explain the process of enabling inventory tracking on Shopify admin panel. Mention the options available, such as tracking inventory by quantity or tracking inventory by Shopify’s built-in location system.
2. Organize Your Products
Organizing your products can make it easier to keep inventory tracking on Shopify. You can group products by category, type, or collection, or create custom labels to help you quickly identify which items are low in stock.
3. Shopify’s Automatically Tracking
Shopify automatically tracks the stock levels of each product you list on your store. Shopify deducts the quantity from the stock level when a product is sold. You can set up alerts to notify you when a product’s stock level reaches a certain threshold, and you can even set up automatic restocking.
4. Use Inventory Management Apps
Shopify offers a variety of inventory management apps that can help you inventory tracking on Shopify, manage stock levels, and set up automatic restocking. Some popular apps include Stocky, SkuVault, and TradeGecko. Moreover, these apps can integrate with Shopify to provide a more robust b2b inventory management system.
5. Regularly Update Your Inventory
It’s important to regularly update your inventory to ensure that your stock levels are accurate. When a product is sold in person or through another channel, you should manually update your Shopify inventory to reflect the change. You should also conduct regular inventory audits to check for discrepancies between your physical list and your Shopify inventory.
6. Setting Up Stock Alerts
Describe the procedure for setting up stock alerts on Shopify. Explain how stock alerts help merchants stay informed about low stock levels and prevent stockouts.
7. Forecast Demand
Forecasting demand can help you to decide when to restock products and how much to order. You can use data from your Shopify sales reports to identify trends in customer behavior and adjust your inventory levels accordingly.
8. Set Up Automatic Restocking
Shopify allows you to set up automatic restocking for products that sell quickly or that you always want to keep in stock. Furthermore, you can set up restocking rules based on product demand, lead time, and safety stock levels.
9. Monitor Your Inventory Metrics
Shopify provides a variety of inventory metrics that can help you monitor your inventory performance. These metrics include stock levels, stock value, and out-of-stock products. In addition, by regularly monitoring these metrics, you can identify areas for improvement and make informed decisions about your inventory.
Conclusion
Effective inventory management is crucial to the success of any online store on Shopify. By following these best practices to keep inventory tracking on Shopify, you can ensure that your inventory is accurate, minimize stockouts, and improve overall customer satisfaction. Update your inventory regularly, use Shopify inventory management apps, and monitor your inventory metrics. With a well-managed inventory, you’ll be able to focus on growing your business and providing an excellent customer experience.
FAQs
Q1: How can I track inventory for different product variants on Shopify?
Shopify allows you to track inventory for different product variants, such as size, color, or style. Each variant can have its stock level, allowing you to accurately manage your inventory.
Q2: How to integrate my inventory management system with Shopify?
Yes, Shopify offers integration with various inventory management systems and apps. Whereas, You can choose a plan that suits your needs and sync it with your Shopify store for seamless inventory management.
Q3: Is Shopify allowed to track inventory for multiple stores?
Shopify allows you to track inventory across multiple sales channels, ensuring that your stock levels are accurate and up-to-date.
Q4: How do you know when a product goes out of stock on Shopify?
If a product goes out of stock on Shopify, it will be marked as “Out of Stock” on your store. Customers won’t be able to purchase the product until it’s back in stock. You can set up notifications to inform customers when the product is available again.
Read More Blogs : https://syncerize.com/10-reasons-to-start-selling-on-shopify/