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Podcast (10k-podcast): Play in new window | Download (Duration: 19:37 — 18.0MB)
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Today Hai Mag, the CEO and cofounder of Eva will talk about how to do proper stock management with Eva. Eva is an “intelligent profit maximization platform for Amazon sellers”. Amazon stock management, also known as Amazon inventory management, is not a sexy topic. The sugar high of instant sales from advertising is more alluring.
But great Amazon inventory management is absolutely central to making sustainable profits. And having sustained cash flow. Get it right and you’ve got a key element of a money-making machine.
A lot of sellers limit themselves by not using the right tools for Amazon stock management. Above all, they have bits of information in different places. The most important thing for more established sellers is to create an integrated stock management system.
Amazon Stock management needs to be automated
If you’re a seller with high numbers of SKUs to manage, you need to automate Amazon stock management. If you don’t do it, you face several poor outcomes.
First of all, you will be missing out on $100,000s of lost sales if you go out of stock. Secondly, you’re tying up cash – and increasing your working capital needs by $100,000s – if you have way too much stock. And thirdly, you are wasting a lot of management time on inventory management. Time you should be spending to grow your business.
Integrating 3PLs into Amazon stock management
Hai and his team have been creating “smart” 3PL warehouses. That means they have connected their warehouses to a central system that manages stock and demand. Meaning that the 3PLs automatically know when inventory needs to be pushed from the warehouse into FBA fulfilment centres. And they do this without the business operator having to make manual decisions. Or communicate manually.
Good inventory management includes repricing and Amazon ads strategy
Just as importantly, a good stock management system must account for other factors. If you operate stock management in a vacuum, you risk being overstocked or out of stock. One critical factor is pricing. Having a sophisticated dynamic repricer is powerful. But integrating that with amazon seller central inventory management is much more powerful. Add in 3PLs feeding stock into Amazon and you have a powerful system for maximising profit.
If you’re running Amazon ads, it’s also vital to integrate Amazon ad strategy with stock control. If you don’t, you’ll be spending money to drive yourself out of stock! Which in turn will crater your sales and your profits AND your cash flow!
In short, the only way to go is to use an integrated inventory management system. Integrate pricing, stock management and Amazon ads and you’re most of the way there. Add in intelligent and automated 3PLs feeding stock into FBA…and you’ve created a real profit-making machine!
You’ll Learn:
- The classic errors of stock management
- About the Smart Warehouse
- Where the FBM Stock goes
- The integrated platform that Eva covers
- That we should solve problems with different tools and not the same tools
- How a Smart Warehouse operates
- The issues of FBA
- What Eva offers as an integrated platform
