In the fast-paced world of ecommerce, managing inventory efficiently is crucial for the success of any online seller. That’s where SoStocked, an innovative inventory management software, comes into play. SoStocked is a powerful tool designed by an Amazon Seller to streamline inventory management for Amazon sellers, making it easier than ever to stay on top of your products, forecast demand, and optimize your operations. This tool is ideal for Amazon sellers and those that sell mainly on Amazon and use Amazon for fulfillment for other platforms.
Chelsea, SoStocked’s founder and CEO is also going to present the latest Carbon 6 white paper, “Attack of the Fee Stack,” which will help you understand the latest changes by Amazon to their fee structure.
Conquer your inventory management in 2024 and join bookskeep and SoStocked on Wednesday, January 17th at 1pm CST/2pm EST for a free webinar on how to make inventory management a breeze this year!
A SoStocked Preview
Let’s dive into how SoStocked operates. It all begins by establishing a connection with your Amazon seller account through the Amazon SP API. This connection grants SoStocked access to your account’s critical inventory data, setting the stage for efficient inventory management.
Once you’re in, the focal point is the user-friendly dashboard. This dashboard provides a centralized view, presenting vital information for each product. Expect to see metrics such as Total Loss of Sales, Total In Stock, Available Stock, FBA Stock, and Days of Supply.
Notably, SoStocked also operates seamlessly alongside your existing processes, ensuring that it will never compromise the integrity of your Amazon seller account. While providing robust insights, it prioritizes the safety and compliance of your account, making it a dependable asset in your ecommerce toolkit.
SoStocked empowers you with customization options for your vendors. You can create tailored inventory management dashboards that align precisely with your unique situation. For example, if you order products from a company overseas, you can mark your lead time from how long production takes, how long ocean freight takes, and how long ground freight takes to get those products to Amazon or a warehouse. You can then assign that lead time to a specific vendor. Additionally, specialized dashboards are available to monitor vendor performance and lead times.
Forecasting is a standout feature of SoStocked. It enables you to predict demand for each product by analyzing historical and current data. Notably, you have the flexibility to select your preferred time range for data averaging, enhancing the accuracy of your forecasts.
SoStocked can also calculate the average velocity of your products, aiding you in fine-tuning your inventory management. When your forecasts are ready, you can seamlessly apply them to individual products or groups. Should you need to establish order schedules based on lead times, SoStocked simplifies that task as well.
Managing sales spikes is quick and easy with SoStocked. You can monitor these occurrences and decide whether to incorporate or exclude them from your forecasting. Additionally, you gain the ability to track discount sales and make informed decisions about their inclusion in your forecasting calculations.
Don’t overlook the feature for tracking stock outs. SoStocked will automatically detect instances where there are zero sales and no inventory, flagging them as stock outs for your attention.
Predicting seasonal trends is often a complex task, but SoStocked simplifies it. The software automatically anticipates seasonal spikes by examining the last 365 days of data. However, should you require more granular control, manual adjustments to seasonality settings are at your disposal.
Efficient purchase order generation is another forte of SoStocked. Leveraging its forecasting capabilities and data analysis, SoStocked streamlines the creation of purchase orders. These orders can be conveniently downloaded and submitted manually or submitted directly to your suppliers through the software.
Furthermore, you retain the flexibility to manually fine-tune lead times within purchase orders to align with your supplier’s schedules.
If you’re ready to tackle your inventory troubles this year, join us on January 17th at 1pm CST/2pm EST for a SoStocked Demo and webinar!
Interested in Profit First?
If your ecommerce business isn’t where you’d like it to be in terms of profitability, check out my book, Profit First for Ecommerce Sellers. It answers important questions about how to implement Profit First in an ecommerce business. Take control of your money and your business, and put Profit First to work for you!
You can also sign up for the Profit First for Ecommerce Sellers Online Course. As a Mastery Level, Certified Profit First Professional, I will teach you why Profit First works so well for ecommerce businesses and the particular challenges for businesses that have physical products requiring inventory management. You will learn how your behavior drives your money management habits for your business and how you can set up your business bank accounts to work with your habits.
Check out all our ecommerce accounting and profit advising services here!