Controlling the stock of an online store involves several steps like having a free inventory stock form (แบบฟอร์ม สต๊อกสินค้า ฟรี which is the term in Thai) etc. The production and storage stage, for example, is crucial. When planning to sell online, the entrepreneur needs to analyze what is needed to produce and who will supply it in case of resale.
Next, it is necessary to think about how much investment is available and the best strategy to begin. Therefore, before exploring the tips to help you control the stock of your virtual store, it is essential to present some of the stock management methodologies that are part of the group of knowledge in the area. Logistics.
01. Internal Stock Management
Here, we will call internal management the one in which the storage is carried out in its warehouses and by professionals from the company itself. As it is an internal responsibility, it is necessary to adopt a series of precautions, such as organization, conservation, cleaning, pest control, cash bill, receipt (บิลเงินสด ใบเสร็จรับเงิน which is the term in Thai) and maintenance. In addition, it is necessary to have a team responsible for controlling the entrances and exits so as not to affect the sales.
A vital point for this model is the possibility of greater control and centralization of activities by the company itself. If well-executed, internal stock management can more efficiently guarantee the quality of product preservation, avoiding risks with third parties. Its main weakness is the cost: maintaining the space, paying monthly expenses, and hiring specialized labor.
02. Drop Shipping
Unlike the traditional drop shipping, this is a model where there is no stock; Products are purchased according to demand. Thus, there is no need for physical space, but it still requires reasonable practices and great control of the entries and exits of items. This offer model is mainly used by stores that do not have the capital available to invest in a large volume of inventory.
This, by the way, is one of the main strengths of drop shipping: the cost to maintain this model is much lower than the others. However, unpredictability can be a big problem here, so keeping track of your Virtual store is even more important. In addition, to ensure on-time delivery and product quality, suitable suppliers and their commitment are needed.
03. Just In Time
Similar to dropshipping, it assumes that the stock should have the least number of products possible to avoid losses. Everything needs to happen with maximum precision (hence the expression just in time). Therefore, the sales control, returns, losses, cancellations must be accurate so that no client stops being served. Another essential point is a partnership with efficient suppliers that guarantee on-time and fast delivery.