Before we get into why the cycle count is important, let’s reiterate an important set of conditions: Any item that comes into your warehouse should be accounted for in your accounting system through an item receipt or bill, every time. Also, every item that leaves your warehouse should be accounted for by a sales transaction. So, nothing comes in or goes out without being logged in your accounting system.
Now, about the inventory. Once you’ve done your full physical count, how do you know that your count is accurate? Conducting a monthly cycle count means re-counting the top 10 percent highest volume, quickest selling items to reveal any discrepancies between the counting system and what’s physically on your shelves (or any breakdowns in workflow) so the system can be corrected immediately.Continue reading →
Congrats on learning all about the pre-count. Let’s move on, shall we? Because you have to suspend operations while you’re doing your physical count, your business will be impacted. For this reason, most people do their count during the evening or over a weekend or when they’re normally not shipping orders. To make your count move along as quickly as possible, take care of the inventory planning while you’re still in operations. Namely, organize your warehouse, plan who will count what and when, assemble your gear, and print your lists. This will keep the suspension of operations as short as possible so you can get back to business (and selling) as usual. Here are some insider tips and tricks for planning and executing that physical count.Continue reading →
Building a solid foundation of inventory management is the key to success for any e-commerce business, especially as the holiday buying season approaches. Accurate inventory helps identify problematic operational processes and creates a system of checks and balances between your accounting and your warehouse teams.
Overselling, which is one of the most dangerous situations for a business, can be difficult to identify until it has reached a critical level. Following our simple inventory best practices will give you key insights into how your business is growing and what products are fueling that growth. The counting of inventory usually occurs in stages based on the needs of your business. There’s a pre-count, a physical count, and the cycle count.
It sounds simple enough, but resist the urge to jump right into your physical inventory count. Like any important task, preparation is key: If you’re going to paint your house, you’ve got to first tape the trim and lay the drop cloths. Similarly, there’s some critical prep work that needs to be addressed in the pre-count:Continue reading →
Selling retail online is fast and big and many drown before seeing the big break. As you know, there’s never been a better time to sell products online. Every week brings new platforms and marketplaces on which to sell. Technology has afforded us speed and access that were simply unimaginable just a few years ago. Yet with every additional improvement to online selling, it’s easy to become overwhelmed and discouraged by the lumbering moving target that the marketplace has become. Here’s how to avoid the deluge and ride today’s online retail trends all the way to higher profits. Continue reading →
Have you heard the news? We’ve updated eCC Desktop with a big change that brings more business intelligence and sales visibility to multi-channel online retailers who use it to connect sales data from all sources of revenue and expenses. Users can now connect to any Custom Store by downloading orders in a CSV format, which means users can import sales data from all their sales channels to gain valuable financial insights, post in QuickBooks, and manage shipping operations. Also, eCC Desktop now supports the new marketplace Rakuten.com (formerly known as Buy.com), in addition to more than 40 other e-commerce channels. Without gaining insight into your entire business with efficient tools like eCC, it’s safe tosay running your business would be like piecing together pieces of an orange peel. Our software closes the information loop holistically, so financial decisions can be made with real-time data intelligence and broad perspective. Please enjoy this upgrade and feel free to contact us with feedback.