Why You Need an Inventory Management System for Your FBA Business
by Jamie Miralles, on June 20, 2018
Jamie and Larissa Miralles help eCommerce sellers set themselves up for success through their Seller Success Academy. In this guest post, Jamie shares why they use RestockPro for their own inventory management processes.
Being a high volume seller for Amazon.com, Inc. (“Amazon”) going on eight years now, it surprises me how many other sellers are not using an inventory management system. When most of what we do as sellers revolves around inventory, one of the mandatory tools we must have in place is a robust inventory management system.
Then there are other sellers who choose inventory management systems based on their ability to track product costs, report profit and create FBA (Fulfillment by Amazon) shipments. Personally, that’s just not enough.
The main criteria you should look for when choosing an inventory management system, if we are primarily speaking of FBA, are the ability to:
- Track product costs
- Manage supplier information
- Track external fees (i.e. shipping, tax, prep, etc.)
- Alert you when when inventory levels are low
- Assist with forecasting replenishments
- Offer insights into trends
- Create, track and manage purchase orders
- Create and manage FBA shipments
Net Profit is Most Important
Profit reports are important too, but you would be better off seeking a true Profit and Loss report from your bookkeeper and/or accountant. Inventory management systems do not account for all of the expenses present in your business. At best, it only has the ability to show you your gross profit. Net profit is what you are ultimately after. Only your bookkeeper or accountant can provide you with this information.
Your Inventory Management System Should Help You
The inventory management system you ultimately choose should help you accomplish all of the bullet points I’ve laid out above. As Amazon sellers, our success lies not only in being able to source profitable and in-demand inventory, but also in mastering the ability to track and replenish the same.
Doing Tasks Manually is Too Difficult
If you are currently doing most of these tasks manually, then you are working too hard! If your current inventory management system lacks some of these features, then you are also working too hard!
RestockPro is the Inventory Management System of Choice
That is why our FBA inventory management system of choice for the last four years has been eComEngine’s RestockPro. It does all of what I’ve mentioned above. Plus, it offers an abundance of other data that helps our business make educated decisions when it comes to our Amazon FBA business. In a future article, I will discuss how our business benefits from this extra data and give specific examples of how we use it.
Inventory Management Systems Replace Employees
It’s also important to mention that implementing an inventory management system is an investment in time and money. It should not be viewed as an expense. Inventory management systems such as RestockPro will easily replace one to two full-time employees due to the many features it has built in. But at the same time, you have to invest the time to learn how everything works so that you can get the best out of it.
eComEngine Offers Support
Fortunately, eComEngine offers an abundance of support via their up-to-date Help Center and highly responsive ticketing system. In addition, you can even request a one-on-one demonstration with them, whether you are considering signing onboard or would like to learn about a specific feature in your current RestockPro account.
eComEngine is Committed to Your Success
All of that is further complemented by an active blog and YouTube channel dedicated to Amazon sellers. So as you can see, eComEngine is committed to your success by ensuring that all of your needs are covered right from the start and throughout your Amazon journey.
Is it any wonder why we’ve stuck with eComEngine for almost half a decade now?