Inventory management is no simple feat. Depending on your business goals, you may implement an entirely different system compared to your colleagues. We all want to know what our fellow retailers are doing to organize and automate their businesses, but this knowledge is often under lock-and-key.
Don’t worry! We’re here to help.
In this three-part series, we’ll provide you with some of the most common inventory setups we see among our customers. We've changed their company names as to not share all their secrets, but we’ll do our best to give you guidance on multi-warehousing, fulfillment, inventory control and more.
Catch up with part one here.
Next in our series is Boom Comics.
Boom Comics is a popular online seller of graphic novels as well as rare, hard to find comics. They've been around for almost five years and have quite the following. Boom started using Stitch last year to process sales from multiple eCommerce channels in one place.
Let’s look at what special Stitch features Boom uses:
1. Multichannel Fulfillment: Boom uses Stitch to fulfill orders with FBA stock from eBay and BigCommerce through the Multichannel Fulfillment feature. The key to this step is setting each channel’s stock and warehouse to match.
2. Reports: Boom uses the Sales by Product as well as the Inventory Financial report, which is a complete listing of all financial data for every product listed in inventory. This report offers a total aggregate value as well as data broken down by product. This report helps their accountant get a better picture of how well the business is doing.
3. Relisting: Because they use Stitch, the Boom team doesn’t need to use any additional re-listing services offered on eBay. This helps them keep their auctions live at all times and get the best bids.
To make the most of these features, Boom has integrated with the following services:
1. Fulfilled By Amazon (FBA): Although they started out small, Boom became the go-to vendor on Amazon for an expansive selection of graphic novels. They now rely on Amazon FBA (fulfilled by Amazon) to handle all of their shipping.
2. eBay: Boom sells their rarities and special edition comics exclusively on eBay and uses Stitch to re-list the auctions. This eliminates the issue of duplicating products in their inventory when relisting through third-party options.
3. QuickBooks Online (QBO): Boom recently switched from QuickBooks Desktop to QuickBooks Online. Stitch's integration with QBO saves them more time by sending over invoices automatically to QBO, along with a monthly journal that accounts for changes in COGS, Inventory Assets and Stock Adjustments.
Let’s recap how Boom streamlines their processes. The two main takeaways on how Stitch helps them is multichannel fulfillment and eBay relisting. Combining these tasks into Stitch automates FBA fulfilling eBay and BigCommerce orders and relisting eBay auctions, saving them hours each week.
How do you handle your FBA and eBay items? If you bundle, you’ll want to stay tuned for the last installment of this series where we talk bundles and purchase orders.