How to Keep Track of Inventory for Your Amazon Drop-shipping Business. Plus Bonus Lesson.

Posted on Posted in Amazon, Business - null, Ideas

As we grow our Amazon drop-shipping business, we will begin to lose grasp on our inventory.  If you’re doing it right, you should have hundreds, if not thousands of items listed for sale.

Inevitably this will lead to more sales.  At the same time, it will lead to dedicating more time to keeping track of your inventory. 

To facilitate the process of keeping track of inventory, I have provided a Product Inventory excel spreadsheet.  Available under the “Start here” page.  With this spreadsheet you should copy and paste all the info from your eBay listing.  Including a direct link for fast access.

As I’ve discussed in a previous blog, the only way to keep track of inventory is to dedicate time to to the process.

When I first started this business, I decided that it wasn’t worth my time to go through the process of checking and rechecking inventory.  As it’s a continuous, never ending job.

Several months ago, I decided that my time was more valuable, and so, I decided to hire a full time virtual assistant to help me keep track of inventory.

Now, several months later I have upgraded my way of thinking when it comes to the process of keeping up with inventory.

I have decided that it’s not even worth the time of my virtual assistant to keep track of inventory.

I have a more efficient way to use our time.

  • For starters, I put extra focus on listing items from an eBay seller who has hundreds of the same item.  The more inventory the seller has, the less like you are to run out of inventory.
  • I only check the inventory once the item sells.  If the seller is running low, I remove it from my inventory.  
  • If the item I’m selling is hot, then I’ll keep an extra close eye on the inventory.  
  • If once the item sells, I find out that it’s no longer available by my original eBay seller.  I’m usually able to find the item from another eBay seller.  Even if it cuts into my profit.  Even if I have to take a loss.  As long as I’m able fulfill the order without having to take a big hit; it’s worth it.
  • In special circumstances, I’ve even been able to fulfill the order from another Amazon seller.  
  • In extra special circumstances, I’ve been able to fulfill the order simply by googling the title of the item and buying the exact item off another privately owned website.  Where there’s a will, there’s a way.
  • When worst comes to worst, you will have to cancel the order. Fess up to your mistake.  Apologies to the customer and move on with your day.

This is an inevitable part of running an eCommerce business.  Businesses run out of stock all the time.  Address the issue in a timely manner, and your customer will respond in kind.

For more info on how to effectively keep track of your Amazon inventory, read this blog post…  http://www.psychedelicentrepreneur.com/2015/05/06/how-to-hire-an-assistant/

Bonus material…

Now, I will share a current obstacle I’m going through.  Let’s get into it.

It all starts with the below item on eBay.  It meets all qualifications to list on Amazon.

eBay seller is well-rated and has over 100 of the same item in stock.

cross_on_ebay

Next, we can find the same item for sale on Amazon.  However, we notice there is no “sell on Amazon” button on the bottom, right side as there usually is.  No problem, we’ve addressed this before.  Let’s continue.

cross_on_amazon_no_sell_button

Just scroll down to the description and copy the item’s ASIN.

copy_asin

Click on Inventory; Add a product.

add_a_product

Paste the ASIN in the search bar.  

The option for listing this item is not available.  Instead, we find that we have to request an approval for selling in the “Jewelry category.  Awesome!  A new obstacle to conquer.  Let’s get into it.

request_aproval

Read the general requirements and click on “Request approval.”

request approval jwelry

Fill out your application as illustrated below.

cross_requirements_continue

product_details2

The next 7 steps are image requirements for this category.  We might have to hire someone on fiverr, in order to fix some images to suit Amazon’s requirements.

image_requirements_yesimage_requirements2image_requirements3image_requirements4image_requirements5image_requirements6image_requirements7

Fill out your email, phone number and company description.  Submit application.

submit_application

cross_wait_for_response

Next time, I’ll share whether or not I was approved to sell in the jewelry category.  

To be Continued…

book coverLearn how to begin your drop-shipping business.  Get your copy of “The 60 day guide to $1,000 in monthly income.  How to leverage eBay & Amazon and never touch any inventory.”

ebay-3

If this blog has helped you make sales on Amazon, by drop-shipping from eBay, please show your support by clicking my eBay link before making each of your purchases.  I am very grateful for your support.

Thank you for being you.

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