{"id":14699,"date":"2023-01-16T10:06:55","date_gmt":"2023-01-16T18:06:55","guid":{"rendered":"https:\/\/michaeljbrumm.com\/dcl-v3\/?p=14699"},"modified":"2024-01-03T08:04:52","modified_gmt":"2024-01-03T16:04:52","slug":"comprehensive-guide-to-ecommerce-inventory-management","status":"publish","type":"post","link":"https:\/\/michaeljbrumm.com\/dcl-v3\/blog\/inventory\/comprehensive-guide-to-ecommerce-inventory-management\/","title":{"rendered":"Comprehensive Guide to Ecommerce Inventory Management"},"content":{"rendered":"<p><b><span data-contrast=\"auto\">What is Ecommerce Inventory Management?\u00a0<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/michaeljbrumm.com\/dcl-v3\/blog\/inventory\/save-time-money-inventory-management-tips\/\"><span data-contrast=\"none\">Ecommerce inventory management<\/span><\/a><span data-contrast=\"auto\"> is an organized approach to tracking the goods that a company has in stock for sale. It includes sourcing, storing, restocking, forecasting, tracking, and shipping an ecommerce company\u2019s products.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Strategically managing inventory gets more challenging as a company grows, adds more products, and distributes their units across multiple distribution centers.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Inventory management is crucial to get right as it\u2019s a central part of an ecommerce company\u2019s supply chain. <\/span><span data-contrast=\"auto\">A strong inventory management strategy can help a company find greater <\/span><span data-contrast=\"auto\">cost savings, order efficiency, and optimized supply chain flow.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">The Benefits of Accurate Forecasting\u00a0<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Striking the right balance between product supply and customer demand is a very difficult, moving target.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Forecasting is the process of anticipating the number of products you\u2019ll need to fulfil customer demand to make the maximum profit (sell as many as customers want) but without having too much inventory left unsold (also known as deadstock).\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Ecommerce brands need to build accurate inventory forecasts for many reasons outside of consumer demand. Inventory forecast numbers will directly impact your shipping budget, amount of boxes and packing materials, labor support to fulfill your orders, and much more.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Forecasting is never finalized. You can have a baseline yearly projection, but it is also important to create specific forecasts to meet the ebbs and flows throughout the year. A few examples include:\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"7\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Holiday season\u2014most brands see increased sales volume during this time of year.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"7\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Peak seasons\u2014do you sell more in a certain season or around a particular holiday?<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"7\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Promotions and sales\u2014plan ahead to project when you\u2019ll need more products on hand.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">It\u2019s important to mention that financial forecasting is different than inventory forecasting. While they are interdependent, they operate very differently and should be considered separately.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Forecasting Models \u2013 Which is Right for Me?\u00a0<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">There is a lot about ecommerce that is complicated. While you\u2019ll never actually get an accurate forecast, it\u2019s so important to get as close as possible. Most brands use a forecasting formula, here are a few.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><i><span data-contrast=\"auto\">Demand Forecasting\u00a0<\/span><\/i><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">A common forecasting formula involves using historical sales data to predict future customer interest. This can be short term (sales and promotions), long term (multi-year projections), micro-level (a single SKU), or macro-level (launching new products). Your historical data will show you the times of year when consumers are buying more, and the products that need to be restocked sooner.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><i><span data-contrast=\"auto\">Reorder Points\u00a0<\/span><\/i><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">It is more cost-effective to re-order products exactly when you need them, it saves storage fees or shipping costs to rush products into circulation faster. To find this crucial place in your inventory cycle, you need to find the <\/span><a href=\"https:\/\/michaeljbrumm.com\/dcl-v3\/blog\/inventory\/reorder-point-formula\/\"><span data-contrast=\"none\">reorder point, or reorder level.<\/span><\/a><span data-contrast=\"auto\"> There are many formulas to use, they consider the following data ideal safety stock, turnover ratio, and supplier lead time.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><i><span data-contrast=\"auto\">Market-Based Forecast<\/span><\/i><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">If you don\u2019t have historical data (maybe you\u2019ve just switched 3PLs, or just launched your brand) you can still forecast based on market trends. Look at brands with similar products to yours. They might even share some of their data with you if you reach out! Look at the cadence of their sales and promotion campaigns and research the overall market share of your vertical.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">\u201cIt\u2019s so important to know what our inventory levels are\u2014whether it be return material or finished goods ready to go out the door. DCL\u2019s eFactory platform gives me the real-time view that I need of what we truly have at any given time.\u201d COO, Jens Voges, Gate Labs<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Managing Inventory Control and Velocity<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">There are two big components to inventory management: how products are managed while in stock and how inventory cycles through the process of being ordered, stored, fulfilled and shipped.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><i><span data-contrast=\"auto\">All About Inventory Control\u00a0<\/span><\/i><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Inventory control is a specific aspect of inventory management, it involves regulating and handling the inventory you already have on hand. This includes deciding the optimal amount of inventory you should store, reorder points, how inventory is stored and managed while in stock. For example, inventory control rules will determine how leftover products that don\u2019t sell get processed.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Learn which <\/span><a href=\"https:\/\/michaeljbrumm.com\/dcl-v3\/blog\/inventory\/inventory-control\/\"><span data-contrast=\"none\">inventory control method<\/span><\/a><span data-contrast=\"auto\"> is right for your brand.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><i><span data-contrast=\"auto\">What Is Inventory Velocity?\u00a0<\/span><\/i><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The rate at which your inventory turns over is known as inventory velocity.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Calculate your <\/span><a href=\"https:\/\/michaeljbrumm.com\/dcl-v3\/blog\/inventory\/inventory-turnover-ratio\/\"><span data-contrast=\"none\">annual inventory turnover<\/span><\/a><span data-contrast=\"auto\"> by dividing the cost of goods sold (COGS) with the average inventory on hand. It\u2019s the number of times inventory is purchased and sold during the entire fiscal year and thus how much stock is also left sitting in the warehouse. This number essentially states how much of your inventory you were able to go through and how quickly. <\/span><a href=\"https:\/\/michaeljbrumm.com\/dcl-v3\/blog\/inventory\/inventory-velocity\/\"><span data-contrast=\"none\">Read more about the velocity formula<\/span><\/a><span data-contrast=\"auto\">.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Low inventory velocity indicates poor sales or inventory control issues. Velocity is a good way to assess business performance. Evaluating product effectiveness can influence funding, personnel growth, and overall scalability. Higher stock turns are favorable because they imply product marketability and reduced holding costs, such as rent, utilities, insurance, theft, and other costs of maintaining goods in inventory.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Important Inventory Management Formulas<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><i><span data-contrast=\"auto\">Lead Time.<\/span><\/i><span data-contrast=\"auto\"> Knowing how long it takes, on average, for your products to get from the manufacturer to your distribution center is crucial to inventory management flow. It&#8217;s a simple formula: the number of days between when you submit a purchase order and your products arrive.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><i><span data-contrast=\"auto\">Safety stock. <\/span><\/i><span data-contrast=\"auto\">Otherwise known as emergency stock, it\u2019s important to determine the extra number of products needed in case of closures, weather, delays, or other unforeseen circumstances. Having the right amount of <\/span><a href=\"https:\/\/michaeljbrumm.com\/dcl-v3\/blog\/inventory\/safety-stock\/\"><span data-contrast=\"none\">safety stock<\/span><\/a><span data-contrast=\"auto\"> will ensure no stockouts or backorders.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><i><span data-contrast=\"auto\">Inventory turnover rate<\/span><\/i><span data-contrast=\"auto\">. The number of times a company has sold and replenished their product inventory within a specified period. The calculation informs everything from pricing strategy and supplier relationships to promotions and the product life cycle.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><i><span data-contrast=\"auto\">Economic order quantity.<\/span><\/i><span data-contrast=\"auto\"> EOQ is the ideal amount of inventory a company should purchase to minimize its costs, like shortage or carrying costs. The formula involves annual demand units, order cost, and annual holding costs.\u00a0 <\/span><a href=\"https:\/\/michaeljbrumm.com\/dcl-v3\/blog\/inventory\/economic-order-quantity-eoq\/\"><span data-contrast=\"none\">Read more about how to calculate EOQ<\/span><\/a><span data-contrast=\"auto\">.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><i><span data-contrast=\"auto\">Maximum stock level.<\/span><\/i><span data-contrast=\"auto\"> This is the amount of inventory you can have in storage without incurring extra storage fees. Especially when preparing for peak season or a promotion period, it\u2019s very important to keep this in mind.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">&#8220;With DCL\u2019s advice and expert team, we instituted a more robust system of collecting inventory data. Thanks to DCL\u2019s changes we have seen significant cost savings!&#8221; Robert DeHaven, Supply Chain Manager at Canary.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Inventory Management Software\u00a0<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The right inventory management software will provide the metrics, reporting, and updates that match your needs\u2014whether that is moving unsold products, meeting unexpected demand in sales, or re-calculating your inventory. Accurate reporting is crucial, your inventory management software should be something that boosts business efficiency.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><i><span data-contrast=\"auto\">Inventory management software terms<\/span><\/i><span data-contrast=\"auto\">:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"8\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">ERP, or Enterprise Resource Planning \u2014 a type of software used to manage business activities such as accounting, purchasing, and supply chain management operations.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"8\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">EDI, of electronic data interchange \u2014 allows partners in your supply chain access to real-time inventory information. This may be retailers, suppliers or other vendors.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"8\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">IMS, or inventory management system \u2014 this is the combination of technology, processes and procedures that oversee the monitoring and maintenance of stocked products.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"8\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">WMS, or <\/span><a href=\"https:\/\/michaeljbrumm.com\/dcl-v3\/blog\/fulfillment\/warehouse-management-systems\/\"><span data-contrast=\"none\">warehouse management system<\/span><\/a><span data-contrast=\"auto\"> \u2014 software that helps control the flow of products and labor within a warehouse or fulfillment center. While basic WMS might coordinate the picking, packing, and shipping operations, there is a large range and a more robust system might handle inventory receiving, inventory management, demand planning, labor management, supply chain management and other warehouse operations.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">Getting the right tools for your inventory management system can be complex and costly. If you outsource fulfillment to a 3PL, ask to get a demo of the software they use.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">\u201cIn the past, we used many different systems and spreadsheets for our orders and inventory. It was time-consuming and at times, inaccurate. eFactory\u2019s analytics allows us to view reports in a variety of different ways to help us plan and forecast accurately.\u201d Bryson Smith, Senior Manager of Operations at Nomad<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Inventory Management Techniques\u00a0<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Different products need different types of inventory management. Here are a few common techniques that brands employ.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><i><span data-contrast=\"auto\">Just-in-time inventory<\/span><\/i><span data-contrast=\"auto\">.\u00a0\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">When products are purchased just before they are needed, this is considered just-in-time inventory management or JIT. Often raw materials or parts are ordered and then assembled as the customer orders come in. Utilizing JIT allows merchants to hold a minimum amount of stock supplies on hand, to balance inventory costs, while at the same time making sure that stock-outs don\u2019t happen should there be a sudden spike in demand.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><i><span data-contrast=\"auto\">FIFO and LIFO<\/span><\/i><span data-contrast=\"auto\">\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">FIFO means \u201cfirst in, first out.\u201d\u00a0 In other words, the oldest inventory, being the first in, should be sold out first before the newer stock is offered to customers. This is often used for perishable goods, or items with an expiration date (food, beverages, or medicine). This way, you don\u2019t end up stuck with expired products that you can\u2019t sell. Similarly, LIFO stands for \u201clast in, first out\u201d and processes inventory by selling the more recently acquired stock first. LIFO is beneficial if the cost of the raw products goes up because the higher priced goods will outweigh the overall cost of goods sold when accounting.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><i><span data-contrast=\"auto\">ABC Analysis<\/span><\/i><span data-contrast=\"auto\">.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">By classifying inventory into three categories, each representing the inventory values and cost significance of the goods, inventory can be managed in smaller batches. Categories might be (a) high-value and low-quantity goods, (b) moderate-value and moderate-quantity goods (c) low-value and high-quantity goods. One of the advantages of ABC analysis is that it provides better control over high-value goods, but a disadvantage is that it can require considerable resources to continually analyze the inventory levels of all the categories.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">How to do an Inventory Audit\u00a0<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Inventory accounting is a cross-check system on SKUs in stock compared to SKUs on the books. An <\/span><a href=\"https:\/\/michaeljbrumm.com\/dcl-v3\/blog\/inventory\/inventory-audit\/\"><span data-contrast=\"none\">inventory audit<\/span><\/a><span data-contrast=\"auto\"> requires a physical count of goods in possession and in transit.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">There are many reasons to conduct an inventory audit:\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"9\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Internal visibility purposes for accurate records.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"9\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">A CPA may need it to balance the financial records.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"9\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">Recalculate safety stock levels or reorder points.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">A clear audit report is an indicator of an efficient supply chain. Issues in your audit may indicate shrinkage (theft, fraud, or damages) or administrative errors that need to be rectified. Audits are required for public companies.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Audits can be performed by in-house staff, official auditors, or outsourced to a third-party logistics (3PL) company. There are many different systems they can use to count inventory, whether tallying each item or just spot-checking.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><i><span data-contrast=\"auto\">Cycle Count vs. Physical Inventory<\/span><\/i><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">There are two main ways to conduct an inventory audit:\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"10\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">A <\/span><a href=\"https:\/\/michaeljbrumm.com\/dcl-v3\/blog\/inventory\/inventory-cycle-count\/\"><span data-contrast=\"none\">cycle count<\/span><\/a><span data-contrast=\"auto\"> will spot-check the inventory. Often a small section of inventory is counted so operations aren\u2019t disrupted. The idea is that if that section is clear, the rest is fine too.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"10\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">A physical inventory usually involves counting every single SKU withing the distribution center or warehouse. It&#8217;s often done with a barcode scanner and electronic ledger.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><b><span data-contrast=\"auto\">Integrating Inventory with Omnichannel Fulfillment\u00a0<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Inventory management is much more than just keeping track of what\u2019s in storage\u2014it also requires keeping track of what\u2019s coming in, going out, moving to another facility, and being fulfilled for sale in any number of sales channels.\u00a0<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Many high-growth brands sell on multiple types of outlets, which is called omnichannel. Here are some of the different types of integrations and inventory support you&#8217;ll need for these various sales channels.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Ecommerce platforms\u2014It\u2019s easier than ever to start an ecommerce business, with off-the-shelf platforms like <\/span><a href=\"https:\/\/michaeljbrumm.com\/dcl-v3\/blog\/fulfillment\/tips-for-shopify-sellers\/\"><span data-contrast=\"none\">Shopify<\/span><\/a><span data-contrast=\"auto\">, BigCommerce, WooCommerce, and others, sellers can host their products online through these platforms. These platforms often include inventory management software, integration with other partners, along with cart and payment support, plus many other plugins.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:720,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Retail\u2014One of the more complex and difficult sales channels to execute, retailers each have different requirements for products coming in to be sold at their stores. Many use <\/span><a href=\"https:\/\/michaeljbrumm.com\/dcl-v3\/blog\/technology\/guide-to-edi-electronic-data-interchange\/\"><span data-contrast=\"none\">EDI (electronic data interchange)<\/span><\/a><span data-contrast=\"auto\"> for communicating inventory levels, purchase orders, delivery timing, and more.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:720,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Marketplaces\u2014Of the many marketplaces available to sellers, Amazon is the largest and most popular. Others include Ebay, Wayfair, Walmart.com, ASOS, or Rakuten, or Target.com. Brands can partner with any of these marketplaces to have their products listed. Inventory management is a big part of this relationship because some marketplaces will store inventory and fulfill it, but others may not.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:720,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">\u201cDCL was able to help accomplish a time sensitive integration with Best Buy and start shipping into them. It worked because our inventory could pass through DCL fairly quickly.\u201d Jim Thome, Head of Operations, Rylo<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Common Inventory Issues and How to Solve Them<\/span><\/b><span data-contrast=\"auto\">\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Visibility \u2013 If you&#8217;re not getting real-time inventory updates, you\u2019re going to run into big problems. You need to know what is in stock, what is going to be ordered, the size and quantity of the order, and what items need to be replenished.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Deadstock \u2013 If you have items that can no longer be sold, items that are out of season and style, or items irrelevant, this is called deadstock. Optimizing your inventory velocity formula and control procedures will help you avoid this.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Stockouts \u2013 a <\/span><a href=\"https:\/\/michaeljbrumm.com\/dcl-v3\/blog\/inventory\/stockouts\/\"><span data-contrast=\"none\">stockout<\/span><\/a><span data-contrast=\"auto\"> occurs when a customer orders a product, but no inventory is available. This usually happens when demand for products is higher than expected, and safety stock number or reorder point is too low.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Storage costs \u2013 This is a variable cost that changes based on the amount of inventory in storage. Whether you have too many products or too few, you\u2019re overpaying either way. You can optimize storage fees with more accurate forecasting.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Backorders \u2013 If products are out of stock but still available for purchase it\u2019s considered a <\/span><a href=\"https:\/\/michaeljbrumm.com\/dcl-v3\/blog\/inventory\/backorder-ecommerce\/\"><span data-contrast=\"none\">backorder<\/span><\/a><span data-contrast=\"auto\">. Supply chain optimization is important to ensure you have all the products in stock that are listed on your ecommerce site.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Slow fulfillment \u2013 If you are getting customer complains of slow delivery time, there are a few inventory issues that could be at play: low staff, complicated <\/span><a href=\"https:\/\/michaeljbrumm.com\/dcl-v3\/blog\/fulfillment\/kitting\/\"><span data-contrast=\"none\">kitting,<\/span><\/a><span data-contrast=\"auto\"> or outdated tracking systems. A good 3PL will help you optimize these.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">\u201cBy moving our inventory to DCL\u2019s Louisville facility, we got a much higher proportion of our freight to a lower cost option. We were able to see significant cost savings because of Louisville&#8217;s excellent location.\u201d Christian Gormsen, CEO at Eargo<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Top Inventory Metrics\u00a0<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Data and metrics, when leveraged correctly, can provide insights on your ecommerce operation and workflow. Analyzing your inventory levels is important to find inefficiencies, and correct them, and look for ways to save on costs.\u00a0<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">There are many inventory management formulas already listed in this guide that will help you navigate forecasting, supply chain flow, and product storage. But there are a few more metrics that are important to track:\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><i><span data-contrast=\"auto\">Inventory Accuracy<\/span><\/i><span data-contrast=\"auto\">. Measure accuracy by comparing physical inventory with what\u2019s recorded in your database. Maintaining inventory accuracy reduces inventory carrying cost and stockouts. Calculate inventory accuracy by dividing physical inventory count by the database inventory count.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:720,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">A rate between 95% and 99% is your goal. Inventory naming and good labeling practices will help improve your accuracy rate.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:720,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><i><span data-contrast=\"auto\">Order Picking Rates<\/span><\/i><span data-contrast=\"auto\">. There are many ways to calculate how fast orders are picked: total order picking rate, order fill rate, perfect order rate, orders picked per hour, and more. Select one or two to evaluate. Track them over time and see where you can make improvements.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:720,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">These picking rates directly contribute to how quickly your customers receive their purchases. They also contribute to your inventory turnover ratio.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:720,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><i><span data-contrast=\"auto\">Returns<\/span><\/i><span data-contrast=\"auto\">. So much of inventory management deals with the acquisition and monitoring of products you have. Don\u2019t forget to factor in your rate of returns as well. Getting returned products back into good stock (if they can be resold) is crucial to your inventory management system.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:720,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Plus looking at your return rate will help you figure out why customers return their orders, helping you spot weakness in your supply chain, and make improvements.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:720,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:720,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is Ecommerce Inventory Management?\u00a0\u00a0 Ecommerce inventory management is an organized approach to tracking the goods that a company has in stock for sale. It includes sourcing, storing, restocking, forecasting, tracking, and shipping an ecommerce company\u2019s products.\u00a0\u00a0 Strategically managing inventory gets more challenging as a company grows, adds more products, and distributes their units across [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"template-blog-chapters.php","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[107],"tags":[2050,2046],"class_list":["post-14699","post","type-post","status-publish","format-standard","hentry","category-inventory","tag-calculators-formulas","tag-kpis-metrics"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.5 (Yoast SEO v26.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Comprehensive Guide to Ecommerce Inventory Management | DCL Logistics<\/title>\n<meta name=\"description\" content=\"Looking to improve your inventory management strategy? 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