eCommerce Lifestyle
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How To Manage Inventory In Your Shopify Store

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Episode 323

Podcast Description

If you’re looking to track your inventory when dropshipping on Shopify, then this episode is for you.

I share two methods for accomplishing this goal.

Method #1)

This free method involves manually updating the inventory section of your Shopify product page(s).  This method is effective but it can take a lot of time to update your inventory if you sell lots of different SKUs from lots of different suppliers.

If manually updating your inventory becomes too time consuming, you may want to check out the second option….

Method #2)

This paid method involves using a Shopify App for updating inventory. The app I recommend is called Stock Sync and it can be found in the Shopify App Store.  This app can connect directly with your suppliers inventory and it can be a huge time saver if you find yourself with many out of stock products that are too hard to track manually.


Podcast Notes:

Keywords for description:

  • Shopify Inventory
  • Shopify Inventory Apps
  • Dropshipping Inventory Apps
  • Tracking Your Inventory
  • Inventory section on Shopify Product Page

Intro (20-60 seconds):

  • Explain exactly:
    • What this video is
    • What it goes into
    • What the end result will be
    • Relate back to the viewer
    • What they get
  • In this video you’re going to be seeing exactly how to manage inventory in your Shopify dropshipping store
  • I’m going to be sharing the backend of one of my Shopify stores so you can see how it’s done and replicate what I do on your own Shopify store as well.
  • If you end up sticking to the very end you’re going to learn everything I’ve learned about managing inventory ranging from brand new (little baby) Shopify stores, all the way up to 8-figure Shopify stores.
  • So sit back, relax, and enjoy!
  • I’m going to share 2 ways to manage inventory.  
    • One is free and built into the Inventory and Product tab on Shopify, 
    • and the other is paid and using a Shopify App to manage inventory for you.
  • Regardless of which option you choose you (and your customers) will no longer have to worry about what products are in stock, and which are sold out.
  • When you track inventory properly you’re going to have happier customers who aren’t ordering products they can’t actually get, and you’re going to be able to save money by only advertising products that can ship fast.
  • Let’s jump into Shopify…

Option #1) The Free Method:

  • Products -> All Procuts
If you liked today’s show, please subscribe on iTunes to The eCommerce Lifestyle Podcast! The podcast is also available on all major podcast players including, Stitcher and Spotify.
Transcripts

What's up guys, Anton here, and in this video you're going to be seeing exactly how to manage inventory on your Shopify store. I'm going to take you into the back end of one of my stores and show you step by step how it's done so you can replicate exactly what we do on your Shopify store as well. And if you hang out, you end up sticking to the end, you're going to learn everything that I have learned about managing inventory starting at little baby beginner Shopify stores all the way up to eight figure stores. So, sit back, relax, and enjoy.

I'm going to share two different ways to manage inventory on Shopify. One of these is free and it's already built into the product page settings with the admin panel on Shopify. The other option is paid, this is using a Shopify app to manage inventory for you. But regardless of which of these options you choose, it's going to make you and your customers much happier because you're not going to have to worry about what products are in stock and which are sold out. And when you track inventory properly, it's going to lead to a better business for you, people are not going to buy things they can't get, you're going to have less customer service to deal with, and you're going to be able to save your money by only advertising products that can actually ship fast.

So, let's jump into Shopify and I'll show you how it's done. You'll see here I'm logged into the Dropship Lifestyle merch store's Shopify account. Now, this store specifically dropships via a service called Printful and what they do is custom make the products when they're ordered. It's print on demand drop shipping. So here under inventory you'll notice it says, "Inventory not tracked," and if you're watching this, most likely that's what your store is showing as well. The reason we don't change that for this store is because if somebody orders something that's currently not available, they can make the product. And if let's say a specific shirt's not available, they'll choose one that's extremely similar, they can still make the product, we can still fulfill the orders.

But let's say you're doing traditional drop shipping, the way that we do it on dropshiplifestyle.com, and you're working with a supplier that sends you a spreadsheet every week showing you how many units are left in stock of specific products. Now the times I think this is most important is when your best selling products start running low on inventory. That's when you'll want to actually change the settings. If there's consistently plenty of stock for a ton of items, this doesn't need to be meticulously updated, it would simply be a waste of time, and most likely cause more problems than it's worth. If there's always plenty in stock, you can just leave your inventory not tracked, you'll do just fine.

But let's say for example here this shirt, Dream Big Hustle Hard, came from a supplier that sent me an inventory sheet where there were only two units left in stock and it wasn't going to be back in stock for the next eight weeks. Then I would want to update the inventory on my store. So, what I could do is just click edit, go into the product page, and then what I'll do is scroll down. And you'll notice since this is a shirt, there's many variations. If there was only one variant of a product on your store, you'll simply see the one variant with the price and the skew number

Let's say the one that was running low on inventory was black size large. I'm simply going to click edit next to that variant, and then it's going to open that specific product page where I can start making edits. So if I scroll down a little bit on this variants page, you'll see it says, "Inventory." And under inventory there's a little box that says, "Track quantity." Now for me, that is not checked, but what I want to do in this scenario is go ahead and click that. And then you'll see the little quantity counter appears. Now right now mine is showing at negative 35, and that simply means that we've sold 35 of these since we started selling them of this variant, so it's showing negative 35. But if there were two left, I could simply go ahead and I could change available to two. Now there'll be two left, and once those two sell you can choose what you want to happen. Do you want to continue selling them? If you do, click that box. If you don't, leave it unchecked and then the product will no longer be available for purchase.

Again, we don't track inventory for these print on demand products, so I'm going to uncheck it. But if I wanted to keep the changes that I just made, I would simply click save. You can do the same, and now that inventory will be updated.

Here's the important thing with this free method. If you're going to do this, it's all manual, so in this hypothetical example again once this product is coming back in stock, I or somebody on my team, or you if this was your store, would need to go back in, go to the quantity counter, and update it again to reflect accurate stock. It's time consuming, which is why I don't recommend doing this for every product in your catalog, only your best sellers that you see running low on inventory.

Now, what I just shared with the free method will be good enough for most drop shippers out there, but let's say time goes by, your store gets bigger and bigger and bigger and maybe one day in the future you work with 300 different brands in your niche and you sell 20,000 different skews on your store. And you and your team find this is taking way too much time to update manually, we need a better solution. That's when it's time to consider the paid option, and the paid option that I recommend is called Stock Sync. This is in the Shopify app store, you just simply go through your dashboard, click add app, and you'll get a free trial.

Now, their pricing is extremely affordable, it's free if you barely use it. But if you're the type of person that needs this, most likely you'll be on at least the $5 a month plan, possibly $10 or maybe $49. And if you're on the $49, it'll be well worth your money for what it does. But the gist of this app is that it connects to your Shopify store, and then you connect your supplier's inventory to it.

Now, I like this app over others because there's so many different ways to connect, and the ways that you choose are really going to be dependent on your relationship with each supplier and how they traditionally send you inventory reports. If they're still sending you the Excel sheets or CSV's that have availability, then what you can do is simply get the template from Stock Sync and go ahead and modify the supplier's version to match this format. So, if you have a skew number, you could simply enter the quantity remaining, upload this via Stock Sync to the back end of your Shopify store, and all of the inventory for every skew number listed in this CSV will update on your store.

And again, if you get to the point where you're working with tens of thousands of products and you notice inventory is consistently an issue, this could be the solution to your problem because you can actually have it scheduled to automatically pull and update inventory as much as multiple times a day, so you will not have issues with customers purchasing products that are not available. And you won't be sitting there dealing with customer service when you could be dealing with marketing, getting more sales coming in, and having those sales so go to happy customers.

So, those are the two options guys that I recommend. Both the free and the paid. If you got value from this video, you know what to do, click the like button, subscribe to the channel. We have two new videos a week just like this one, every single Monday and Thursday. And for everybody out there that is new to drop shipping and wants to know how to build highly profitable semi-automated stores from anywhere in the world, be sure to go to dropshipwebinar.com where you'll find a free training webinar that I have waiting for you. See you next time.

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