In today’s video, we are going to talk all about inventory management, what it is, why it's important, what it entails, and some of our personal recommendations. Inventory management can be A LOT.
It involves both physical and electronic components. Physically this means where your items are stored, the most space-efficient ways you store your items, how you keep track of where items are, whether you use hanging racks or bins or totes or shelving units, and so on. Electronically, you need some process by which you can quickly find and manage an item upon sale. For bookkeeping and tax purposes, there needs to be a master system that tracks all of your unlisted listed and sold inventory, as well as the costs associated with all of that and your projected revenue. Whether you use a bookkeeping, software, a notebook, or whatever the list may be, it undoubtedly needs to be constantly maintained to uphold its accuracy.
These processes can get so much more complex if you're a multi quantity seller, or if you're a multiplatform seller, because then you also need a way to determine which items are listed where, so that upon sale you can remove them across marketplaces. Thankfully, Vendoo makes all of the above so much easier.
Follow along in the video while we show you how I use Vendoo for complete inventory management. Vendoo displays all of your unlisted, listed, and sold inventory, very clearly in one place. You can search for items alphabetically, by the date created, the date modified, by the price, or by the SKU. You can also search by marketplace, or by a custom Vendoo label, which you can create at any time to help you stay organized. Vendoo hosts all of the information and images for your items, as well as all of your costs, which is especially important for your profit and revenue tracking.
It's so important to find a process that works for you individually and is the best fit for your inventory, your schedule, and your overall business model. Vendoo’s every feature is designed to optimize your unique business in the most reliable, time saving, and simple way possible.
So, what's your process? Please feel free to share any inventory management tips and tricks that you might have in the comments!
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Topics we cover:
1. What is Inventory Management?
2. How To Use Vendoo For Tracking Inventory
3. One Reseller's Inventory Processing Method
4. Creating Drafts On Vendoo Directly After Sourcing
5. Prepping inventory, photography, and listing descriptions
6. Using Inventory Numbers So You Can Find Items That Sell
7. Storing Your Processed Inventory And Tracking It With Vendoo
About Vendoo: Vendoo is a crossposting app that helps you scale your reselling business and increase your sales by allowing you to crosspost on multiple marketplaces such as eBay, Poshmark, Facebook Marketplace, Etsy, Mercari, Grailed, Depop, Kidizen and Tradesy with just a few clicks.
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