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Jun 2021, 01

Marketplace Stock Management

Barış Dur
| Blog
Marketplace Stock Management

Marketplace Stock Management is an important operation that covers the processes of keeping the products offered for sale at the right place, at the right time, in the right quantity and under the right storage conditions. Although it is often ignored by companies that aim to sell through the marketplace, it is a fact that should not be forgotten that there is a direct link between marketplace stock management and the profitability of the company. Keeping a product that is not in demand as much as a product that continues to be sold but is out of stock for longer than necessary will also negatively affect the profitability of the company and customer confidence. For this reason, marketplace stock management should be taken seriously and managed systematically and regularly.

How to Manage Marketplace Inventory?

1. Warehouse Management

Correct warehouse layout and management is the most basic rule in stock management. The ordered product must be quickly taken from the department where it is located, packed and ready for cargo. In a complex warehouse, these processes will take longer than necessary, thus negatively affecting the operation.

2. Order Control

Today, e-commerce companies offer their products for sale through multiple marketplaces. Orders are flowing through every marketplace where we work and problems can be encountered in cases where this order traffic is not managed properly. In particular, order control processes without software support make it complicated and stock control impossible. For this reason, systems should be used where orders can be collected and controlled in a central place, and each order is automatically reflected in the stocks.

3. Supply Management

What is decisive at this point is do you manufacture your products or do you purchase them from outside? Or are the products supplied after they are ordered or are they stored and sent from stocks at the time of order? The starting point of each question is to comply with the delivery time specified in the advertisement you have given on the marketplace. Today, people prefer stores where they can shop quickly. Accordingly, if you cannot position the supply ring correctly in the marketplace stock management, the difference between the delivery times of the orders and the time you promised will be returned to you as canceled orders.

4. Inventory Cost Management

In the marketplace inventory management, inventory costs should also be considered. Storage costs bring loads that cannot be ignored. In addition, when pricing the products you offer for sale, the production, market-store commission, cargo and company expenses of that product should also be calculated.

5. FIFO in Stock Management

Regardless of the shelf life of the product you sell, care should be taken to ensure that the first product that enters the warehouse is the first to leave the warehouse. If this order is not followed, you may encounter problems such as expired products and wear during storage, and these problems will seriously increase your costs. FIFO – first-in, first-out system is a discipline found to prevent these losses.

6. Dead Product Stocking

Another danger for companies that offer large quantities of products for sale in more than one marketplace is that dead products are kept in stock. Firms that manage stock management correctly in the marketplace can also determine the sales cycle for each of the products. In this way, products that have not received orders for a long time but are in stock are not included in the new production or supply process.

The most ideal solution for marketplace stock management is undoubtedly integration. Thanks to the integration, all stocks are tracked instantly and the products offered for sale are instantly reflected in the stocks, regardless of which market place they are sold, preventing any possible confusion. Since integration is a complex process, support from professionals should be sought. At this point, we recommend you the integration services of Markizzi. Thanks to Markizzi, which offers integration solutions for all marketplaces serving in our country, you can manage all your marketplace stores from a single screen, and you can easily solve vital processes such as product management, stock tracking, order management and cargo management on a single screen.