How can you manage inventory for B2B e-commerce?

Data is key for e-commerce and effective inventory management start with data analysis. 1. Demand forecast to maintain optimum stock levels and reducing the risk of over / under stocking. 2. Inventory categorization based on top sales / categories / fast movers and multiple parameters. 3. Inventory liquidation plan to control ageing / shrinkage/loss/damages and expiry. Realtime, daily and weekly performance reporting and team training can help over inventory challenges.

To excel in B2B e-commerce inventory management, prioritize implementing a centralized system like SAP, automate order processing through platforms like TradeGecko, leverage predictive analytics for demand forecasting with tools such as Lokad, foster collaboration with suppliers via cloud-based platforms like Ariba, segment products based on sales velocity and profitability, maintain optimal safety stock levels, utilize order tracking software like Zoho Inventory, integrate seamlessly with ERP systems such as Oracle NetSuite, ensure real-time updates through APIs, and design the system with scalability in mind for future business expansion.

Use prior years' sales as a baseline for demand forecasting, but don't stop there. Get input from account teams about their changes in buying patterns from existing customers, as well as input from sales teams about their pipeline and expected demand from prospective customers that are likely to close in the near term. The latter should be considered incremental inventory and should be added to overall inventory forecasting as late as possible or once those deals have closed, depending on the lead time needed to deliver to those new customers. Also consider if there are other sales channels through which customers take delivery and whether there are initiatives in place to shift those orders to e-commerce channels.

Regarding inventory, you must act based on your sales returns statistics. These numbers are enough to manage your inventory. KYC is more about demand forecasting, category management, and marketing.

This is the most important thing in the e-commerce industry. We need to know the customer who we are targeting otherwise we may not hit the market. If we know the targeted customer then we can prepare the inventory and the marketing as per the targeted customers and can launch in the market. Choosing the wrong customers will not only lose the business also the experience on the brand and the value for it. For an example, if we want to purchase and sell stationary items then our targeted customers are students, artists , companies, school and colleges. If we target adults, we may not hit the success as adults using stationary is very lower when compared to other categories which i mentioned above.

It always depends on your niche. It's ridiculous to use RFID for regular stationery, for example. Barcode scanning is enough in most cases. The problem is on the human side. They must follow the workflow, and you have to manage them. That is the real challenge, not technologies.

Efficiently handling inventory in B2B e-commerce can provide a competitive edge and shape your business strategy to achieve overall goals. Once you've established clarity regarding the sales channels and your customers, it's essential to understand the methods for monitoring your inventory throughout the sales process. Begin by assessing your products, considering facts such as category, size, demand, and vulnerability. Implement an inventory management system including software tools, any necessary hardware setup, training, SOPs for all stakeholders, and a transparent system to oversee every inventory touchpoint.

By using IoT sensors and RFID tags, businesses can achieve real-time tracking of inventory across multiple locations. Advanced inventory tracking systems integrated with AI can also predict potential issues like stock deterioration or pilferage risks, allowing proactive management.

When approaching inventory tracking, consider the following tips: Define Your Requirements: Clearly outline your business's inventory tracking needs and requirements before selecting a solution. Scalability: Choose a system that can grow with your business and adapt to increased inventory complexity. User-Friendly Interface: Opt for solutions that are easy to use and offer a user-friendly interface and integrate seamlessly to minimize training time for your team. Selecting the right inventory tracking solution depends on the size and nature of your business. I think it's best to test and thoroughly understand the capabilities of the chosen solution before full implementation.

Implement a reliable inventory management system (IMS) that tracks stock levels in real-time across all locations and channels. This eliminates manual processes and ensures accurate fulfillment, reducing discrepancies and lost sales. Example: A B2B electronics distributor uses barcode scanners and RFID tags to track inventory in their warehouse. This real-time data helps them identify stockouts quickly and replenish their inventory before orders are affected.

There are more than a few ways to forecast for demand & the approach of One size fits all will rarely give you the desired result. A mix & match of various techniques can land you on a reference figure and the same can then be tweaked based on current situation & requirement. In my professional opinion the following forecast logic seems to work : Historical trend (40%) + promotion planned (30%) + Seasonality (20%) + brand mix for business (10%). You can come up with your own logic to forecast demand based on your business requirements & needs.

Forecasting accuracy is something which not only creates efficiency in Storage/ Supply Chain/ Inventory Holding Cost/ Damages & Losses etc:- but the same also creates a differentiation in Customers mindset with availability of great selection/ Season churn / Better festive selection/ Higher Brand Confidence & customer offers etc:- Apart the heuristics & various statistical models, the Inout data to these models are most important factor which defines the quality of the output.

Consider leveraging big data and machine learning algorithms for demand forecasting in B2B e-commerce can significantly increase accuracy. As it can analyze complex patterns and large datasets. Furthermore, integrating collaborative forecasting, where input from suppliers and customers is also considered, can lead to more robust and comprehensive demand predictions.

There is almost no difference between B2B and B2C in the forecast methods. But B2B has a significant advantage - asking your customers about their plans is much easier. Collecting b2b pre-orders for the high or low season is a good idea.

One thing often overlooked in demand planning is the effect brand awareness & marketing campaigns have on overlapping categories within your assortment. This "Halo" effect can have significant impact on the velocity.

Make an ABC analysis of your assortment. Split your effort and attention as 70/20/10: You must be super precise and even have larger stock on A SKUs. You have to be great on the B SKUs Negotiate with your suppliers about better conditions on C SKUs. This approach helps you to focus on the most valuable SKUs and improve SLA.

Set reorder points for each product based on its demand and lead time. This ensures timely replenishment without exceeding storage capacity. Consider implementing minimum order quantities with suppliers to negotiate better pricing. Example: A B2B office supplies company sets a reorder point for printer cartridges based on average weekly sales and supplier lead times. This ensures they never run out of stock while minimizing storage costs.

By implementing these strategies and adapting them to your specific needs, you can effectively manage B2B inventory on Shopify, improve your supply chain efficiency, and ultimately enhance customer satisfaction. Remember, the key is to find a balance between minimizing holding costs and ensuring product availability to meet your customers' demands.

L'optimisation du réapprovisionnement dans l'e-commerce B2B passe par une stratégie équilibrée entre maintien d'un niveau de stock sécuritaire et minimisation des co?ts de stockage. Déterminez des points de commande basés sur vos prévisions de demande et le temps de réapprovisionnement de vos fournisseurs. Envisagez des partenariats avec des fournisseurs fiables pour des approvisionnements plus flexibles et réactifs.

Keep track of your sales and your inventory, and use WOS as one of your main metrics for inventory management. Also, please consider the time it takes for courriers to deliver the product to your warehouse, and some inconvenients that may arise during holidays.

90% of manufacturers, wholesalers, and distributors I speak to are using their enterprise resource planning systems as their single source of truth. Meaning, this is where the heart of the eCommerce should be -- your customer specific pricing/discounts and realtime stock & inventory levels will be drawn from the ERP system. A successful B2B eCommerce strategy will leverage this data with automation rather than forcing you to manage a separate eCom store and manually input the orders back into ERP. Sana Commerce is a winning example of this, it's built to push realtime Microsoft Dynamics or SAP ERP data out into a full blown B2X webstore.

An e-commerce ERP can be a single source of truth and streamline your operations. You can save price lists, lead times and payment terms associated with your B2B accounts. Reps can directly enter sales orders into the system, with real-time visibility into inventory levels, while allowing you to track sales by rep for commission reporting.

L'automatisation est clé pour une gestion efficace des stocks en e-commerce B2B. Investissez dans des solutions logicielles qui automatisent les commandes de réapprovisionnement, la mise à jour des niveaux de stock, et le suivi des expéditions. Cela réduit les erreurs humaines, augmente l'efficacité des opérations et permet à votre équipe de se concentrer sur des taches à plus forte valeur ajoutée.

In my B2B e-commerce experience, newcomers benefit from initially simplifying operations with tools like Excel. This hands-on approach fosters a deep understanding of business dynamics and vendor relations. Rushing into extensive automation, especially with ERP systems, can be counterproductive. Instead, adapt with logic, gradually introducing automation where it genuinely enhances efficiency. View automation as an ongoing process, continuously learning and adjusting based on evolving business needs. This strategic approach ensures purposeful automation that aligns seamlessly with specific requirements.

Automation is required to save time and effort. It can be by any big or small organization in the form of Excel or an ERP, IMS, or WMS. With this, an analysis is prepared and helps in making a decision.

Data is vital in modern business, especially in e-commerce. The HADI approach, which involves collecting, monitoring, analyzing, and improving data, is key to success. It helps businesses gain insights, track progress, and make data-driven decisions to stay ahead in the market. #ecommerce #hadi

In B2B e-commerce, obsessing over stock availability and aligning it with cash flow is paramount. Booming sales may create a smooth operation, but when sales stabilize or drop, maintaining adequate stock becomes crucial. Analyzing performance involves measuring metrics like inventory turnover, fill rate, stockout rate, carrying cost, and gross margin. Visualization through dashboards and charts aids in comparing performance against goals. Additionally, gathering feedback, reviews, and surveys provides insights into customer satisfaction and loyalty, guiding continuous improvement.

Analyzing performance in e-commerce involves a multifaceted approach, focusing on various key metrics and data points to gain insights into how your business is performing. Here's a structured way to approach this analysis: Sales Metrics: Revenue: Track total sales over time to understand growth or decline. Average Order Value (AOV): Measure the average amount spent each time a customer places an order. Conversion Rate: The percentage of visitors who make a purchase. This is crucial for understanding the effectiveness of your website and marketing efforts. Traffic Analytics: Total Site Traffic: Understand how many people are visiting your site.

L'analyse des performances de vos stocks est essentielle pour améliorer continuellement votre gestion en e-commerce B2B. évaluez régulièrement des indicateurs clés comme le taux de rotation des stocks, la précision de l'inventaire, et le co?t de stockage. Ces analyses offrent des insights précieux pour affiner vos stratégies de gestion des stocks, garantissant une réponse adaptée aux besoins changeants du marché B2B.

Inventory management is critical in B2B e-commerce due large order size. Having improper inventory management can cost expensive on Fulfillment Center cost. One way to mitigate this is leverage seller and vendors space to manage the bulk size inventory.

Para gerenciar o estoque em e-commerce B2B, é crucial implementar um sistema integrado que sincronize automaticamente os níveis de estoque com as vendas. Utilizar tecnologias como RFID e adotar práticas de previs?o de demanda ajudam a otimizar o controle. Além disso, estabelecer parcerias sólidas com fornecedores e investir em um software de gest?o eficiente s?o passos essenciais.

In the realm of B2B inventory management, instituting a preorders system emerges as a practical approach. The concept is elegantly simple—allow customers to articulate their needs and desired quantities. However, translating this idea into a functional system demands a robust infrastructure. B2B enterprises must not only align their operations to meet customer demands but also exhibit agility to accommodate potential surges in demand. On the other hand, from the clients' perspective, the accurate estimation of Expected Time of Arrival (ETA) becomes paramount, especially when orchestrating shipments from diverse suppliers. This information is pivotal for financial preparations and timely sales execution.