Why Shopify Is Best For 'Large Inventory' Businesses
Have you ever wondered what makes some Shopify businesses soar to success, and others plod along with an uphill struggle? The answer could lie in the brand's business model, and how they choose to sell their stock. Either way, Shopify is a great place to begin. If you have a large inventory or even a multi-location inventory, it may also be time to upgrade to Shopify Plus.
The great thing about growing a business is the feeling of achievement. Seeing those numbers increase in front of you, reaping the rewards of a larger customer base – but, when do you have a chance to review the needs of your blossoming business? At an annual meeting? Every 18 months? In today's fast-paced online market you need to to be one step ahead, and that's also true when it comes to using the right platform and integrated apps.
That's one of the reasons that we love Shopify, and why it's the perfect starting point for a lot of companies, then if you need it Shopify Plus will take your business to the next level. If you are already making over $500,000 per year in sales, talk to us about how Shopify Plus is the next logical step. If you haven't quite reached that goal yet, it's still worth reading on, because you'll need to be thinking about how your website (and back office) can cope with a surge of orders, the need for more bandwidth, and what apps will benefit you.
We have an excellent case study with Slip-Not rubber flooring, that will show you how we work with Shopify in general, and more importantly, how beneficial it's been to our clients to migrate over to an eCommerce platform that can actually handle their demands. With rapid growth comes a period of adjustment, but by using the Shopify system, you'll have access to a myriad of apps at your finger tips – as well as peace of mind that you're operating at peak efficiency.
One of the best business models for Shopify is operating a large inventory business. This term refers to companies operating with an 'excess' of stock which allows them to offer quick replenishment times, decreased risk of shortages during busy periods, a quicker response time, and more chance to offer consumer discounts because you are buying in bulk. Having a large inventory does come with its drawbacks, which is why ensuring that you are using the best platform is essential – nobody wants to have reports flying in that their website has crashed, or worse still, that items advertised are out of stock in the warehouse.
There are many apps on the market today that assist large inventory businesses. An example of one is Stock Sync – Inventory Update (it works on both Shopify and Shopify Plus). Currently trending with a rating of 4.7/5 and more than 900 installations, users are posting helpful reviews so you don't have to rely on the manufacturer's claims. There's also Inventory Planner Forecasting - it helps you optimise your cash flow and reclaim your time with an inventory forecast based on sales trends and vendor lead time. The combination of using apps which cover your inventory needs, alongside an email marketing app like Klaviyo, means that you now have all bases covered. Your website and stock are performing perfectly, and you are reaching your target audience at the optimal time for them to purchase products.
The amazing thing about Shopify (and the upgrade to 'Plus), is that there are just so many highly rated third-party apps that seamlessly blend into your set up. If you were working in a 'traditional' way, your operating system – whether it is bespoke or not - would be solely responsible for handling inventory. This means that should the company wish to expand, or change the way they operate; the system would need to be able to adapt. As many of you know, this is not something that is simple or painless. In fact, traditional operation of a large inventory business would sometimes even require a whole new OS to support a change, and this is extremely costly. New software and retraining staff comes at a price.
With Shopify you can research the best apps for your needs, and combine their functions so that your staff, your customers, and your leadership team can rest assured that even on your busiest days there won't be any issues. There are currently over 1,000 apps for inventory-related processes available to you, and it puts the control back in your hands... and your pocket.