Magento inventory management

Magento inventory management: pros, cons, alternatives

EasyERP Team 13/04/2017

Most people that are using Magento software for managing their inventory and other ecommerce purposes are having problems with keeping their stock in order. With Magento inventory management comes a lot of plugins that are claiming to solve that problem, but none of them do that completely. That’s why there are so many of them.

All of them provide a “simple solution to a complicated problem”, or they just say that on their commercial page. In this article, we will present you another way of solving inventory management problems, but using different methods.

You need more than just an inventory management extension

As a ecommerce business owner or a retailer, you probably imagine your store and all the items that you sell as a real world, physical items. However, in the ecommerce world, every single thing about your Magento store is zero’s and ones, simply said “data”.

The two most common types of data that present Magento inventory management are: item data and  inventory data. Extensions are ignoring other types of data your ecommerce company handles: order data, customer data, and shipping & tracking data, accounting data and so on.

The solution should do more than manage inventory

It may sound a little odd, but a Magento inventory management solution shouldn’t be just a plugin or some kind of software that takes care of just one aspect of it, it should do more than just… well, take care of inventory. It should be the central hub for all your data.

Because you aren’t just subtracting one from your inventory every time you sell one, there are a lot of things that have to be done in a company when you sell an item or purchase one. Here’s just a short list of this things:

  • Quickly updating the number of products
  • Multiple warehouses support
  • Sending the customer invoices and shipping information
  • Updating or creating a customer’s
  • Creating purchase orders for warehouses and suppliers
  • Low stock notifications
  • Updating your reports and accounting data
  • Complete support for drop-ship suppliers
  • Ability to import and export product data from Magento store or CSV
  • Multiple marketplace support

Again and we cannot stress this enough, you should not purchase or implement an extension or some other kind of solution that does not cover all of earlier mentioned things. You need something that can connect everything together seamlessly. Otherwise sometime later, your inventory data will be in even more of a mess than it is now. One of the great examples of the software that can manage all that is EasyERP.

Magento inventory management with EasyERP

Magento is the one of the most popular open source eCommerce platform in the market today. When you use Magento with EasyERP, you implement a powerful and easy to use platform that grants you clear and customizable data. So it is easier for you to connect with your customers and suppliers, and provides with a full set of instruments to deal with them. Use Magento to create a great shopping experience for your customers, while using EasyERP for Magento inventory management and ensure you deliver your customers orders accurately and efficiently.

Connecting your Magento shop with EasyERP will be mostly invisible to your customers. This is one of those upgrades where you, the shop owner, receive the most benefits. You’ll gain access to detailed reports about your store’s inventory, and more advanced searching and filtering of your products.

So let us break down those items one by one, and clear out what do they stand for, and how EasyERP solves them.

Quick updating the number of products

One the most irritating things about the old Magento inventory management software is the need to manually get updates. That was really inconvenient. Gladly, in the second version, they have implemented automatic update. But it is still far from ideal. If you have more than one page of products than you may have encountered how slow does Magento inventory management software handle this process.

magento inventory management

But you have to know how much of your products are in stock. If you stop monitoring this aspect it can lead to a terrible customer experience. Unless you are constantly using backorders in your business. No amount of emails saying that their order will be delayed or canceled because it’s out of stock will not fix it. And, in a market driven by product reviews and social media, one extremely unhappy customer can cause a lot of damage.

As you may conclude, it is very important to have an inventory management system that can refresh stock levels in real-time. EasyERP inventory management system got you covered in this situation, updates are coming in and out every 15 minutes. Also you can update any second manually.

Sync stock in EasyERP

Sending customer invoices and shipping information

One of the most common features among the Magento inventory management solutions out there. And it is not a coincidence. To be able to quickly inform your customer about the status change of the order and to send them invoices is one of the key element of a good marketing tactics. Because of the widespread of the internet and social media, one unhappy customer can give a bad time on the media. That’s why, now, it is especially crucial to be close to your customer, and provide them with as much information as you can.

EasyERP takes that chore off your shoulders, invoices are generated automatically.To send a message to your customer in EasyERP you will have to push one button, the email will be filled automatically, the address will be filled in automatically as well.

Multiple warehouses support

Even if you are using just one warehouse then you must have run into the problem where you cannot find your product, though your Magento inventory management tells you that it has to be in stock. That is because of poor warehouse tracking support in Magento. And yes, there are some extension and apps that can solve that particular problem.

magento inventory management plus EasyERP

But what if you install a different app for every feature that Magento inventory management system lacks? Then you get a slow bundle of programs, that do not work together. App developers don’t care how does their program potentially may communicate with other apps on the market. If you install more than one, be prepared to deal with bugs, glitches, and unexpected data loss.

On the other hand, you can connect your Magento store with EasyERP and get multiple warehouse support right away. Along with other great tools described in this article. One more feature, when you are purchasing the product or transferring it to another warehouse, you can save data. This means information about the exact room, shelf, place of the item. So it will be much easier to find it later.

Updating or creating a customer

Do you go to a local small store where everyone treats you like a good friend? Wouldn’t it be great to treat every customer of your ecommerce shop the exact same way? Sadly, Magento doesn’t provide such option. But EasyERP gives you an opportunity to treat every customer of your shop like a good friend.

EasyERP will store every bit of information you like of every customer that you have ever served. It may contain social media pages, phone numbers, date of birth, shipping and billing addresses, work information, etc. Also, you have the ability to simply leave a note or attach some file to the profile of a customer.

magento inventory management plus CRM

It is very convenient and opens up a lot of target marketing research possibilities. The cool thing is, that you don’t even need to enter most of the information manually. It is saved automatically in your database, right after a customer have placed an order. Also, you can access the catalog of your customer just by pressing a button.

Creating purchase orders for warehouses and suppliers

If you are using Magento then you probably are aware that there is no purchase capability there. You can’t create a purchase order or save your supplier contact. Magento inventory management system just assumes that your product magically happens to appear in your warehouse. You must agree with us, that this is not very productive and your business needs more capabilities in this area.

EasyERP inventory management software can solve this problem. If you integrate your Magento store with EasyERP you will gain access to powerful instruments that will help you manage your purchases. Basically, you will be able to manage your purchases the same way you are managing your sales.

This means that you will be able to keep a catalog of your suppliers, create orders, invoices, and store the history of all purchases that have been done. It goes without saying that once you have purchased a product it changes the amounts in your inventory, and they are updated right away. You can find out more about EasyERP purchases here.

Low stock notifications

Every inventory management software should be able to alert the user about low stock levels. But, sadly, Magento software does not support this feature, you have to manually check the level of the product. But there is a far more efficient way of doing that, if you integrate your Magento shop with EasyERP you will be able to get information about the low stock in a few seconds, so you can purchase some more of that flying off the shelf products.

Low stock notifications in EasyERP

Among others, there is a special report in EasyERP called “Low Stock”, it will display all products that are currently nearest to their minimum stock value. This value is one more cool feature of the EasyERP inventory management software, it allows you to store an exact value which you consider to be minimum for your product.

Low stock value in EasyERP

Updating your reports and accounting data

As we have stated before, you need more than inventory management software. Also you need the ability to analyze your business in order to drive it to success.

magento inventory management

In order to achieve this you need the capability to create quality reports and keep a precise and consistent accounting process. Stock Magento inventory management system does not have this features and none of Magento plugins or extension can provide you that in one package.

EasyERP will provide you with the all of the mentioned features. Because it is all in one system, EasyERP can provide you with all kinds of reports. You have marketing reports, such as sales by product or sales by month, and financial reports, that are valuable to you or your investors, like profit and loss statement, balance and so on. If you use all of these wisely you will be able to beat your concurrence.

Complete support for drop-ship suppliers

Drop-shipping business is becoming more popular every day, because of the evolving transport systems, that are becoming faster and faster day by day. Most of the companies that are working like this are ecommerce shops, and there is a fair share of them that are using Magento inventory management software.

magento inventory management

But as far as we can tell, Magento inventory management can’t provide all features this type of business requires. But EasyERP inventory management system can. For drop-shipping business, you’ll need the ability to collect orders from customers, order products from a supplier. Plus the ability to track everything on every stage.

Like we’ve stated, EasyERP can handle the customer relationship. And it has the ability to take care of purchases as well. And because these features are all in one program it is possible to implement a drop-ship business model in EasyERP. The system handles all of these tasks without any troubles.

Ability to import and export product data from Magento store or CSV

Clearly, when you integrate something to your Magento inventory management system, you need to export the data. This process has to be fast, nobody wants to waste a whole day on that. Ideally the export process should be automatized, to be completely free of any human mistake.

All of this is about EasyERP. In order to integrate a Magento store with EasyERP, all you have to do is copy-paste the URL, and type in your username and password. This process will only take few minutes, you can find more detailed information about that here.

Multiple marketplace support

If you don’t sell on Shopify, Etsy, etc., the lack of integration may not be a problem yet. But it is always better to have more opportunities than less.  Because sooner or later you might want to expand or move to another marketplace.

Don’t corner yourself into a future problem. Don’t choose inventory management software that you will just have to replace. Make sure your inventory management system can integrate with every marketplace you want to sell on. EasyERP provides the ability to integrate and synchronize between Magento, Shopify, and Etsy. This way you can potentially multiply your sales and profits.

Chatra