Do you go by the saying “nothing like the real thing”? If you take pride in only working with authorized dealers and manufacturers, it might just be one of the best decisions you’ve made to keep your Amazon account safe from policy violations and suspension. Read on to find out how our software can help support your great choice.
Inventory Management
If you have items from various suppliers, you can use Sellery to split them up into what we call smartlists. Each list would show an isolated view of items only from that particular supplier. Doing this will allow you the ability to tweak your costs should you get further discounts from a manufacturer or decide to change the markup on just a portion of your inventory. Smartlists can easily be created by supplier name and more attributes can be added to further separate products in a list.
Setting Your Prices
Once you’re done with smartlists, you can start thinking about the pricing strategies you want to implement for your inventory. Sellery allows you to use MAP, Minimum Advertised Price, as a lower limit, so you do not drop your prices below what manufacturers recommend. This will keep you safer from manufacturer complaints as well as possible policy violation warnings from Amazon.
Apart from MAP pricing, Sellery allows you to set a different pricing strategy for every smartlist you choose to split your inventory into. Having the ability to price items differently ensures you stay competitive while also maximizing opportunities to generate additional profit. You may have lots of competition on part of your inventory and no competition on another, so accounting for different competitive scenarios is imperative to ensuring successful repricing results.
The Research Phase
Once you’re done setting up your smartlists and pricing rules, Sellery can actively reprice your inventory without uploading those price changes live to Amazon. Sellery will set the price of your items, taking competition into account, to show you what kind of profit you’ll make, so you can evaluate the effectiveness of your pricing rules and consider different product sourcing strategies.
Selling and Reordering
So you’re all set with your smartlists and pricing rules, and got approval from the manufacturers to start selling their products? Perfect. Then you can move on to monitoring your sales and inventory.
Sellery assists you by enabling you to easily perform exports from the interface. You can even choose to do them at specific intervals and tweak the export schedule as per your needs.
Exports, for example, can help you decide what items you need to restock by providing relevant data on how much quantity a particular item sold within a specific time frame, at what profit level, for what margin (MAP pricing VS sale price), and more. Exports can be as detailed as you need them to be to ensure that you correctly identify items in your current inventory needing action. Correlate this with your internal order management system, and you’ll have a reorder file ready in no time.
You can also create a smartlist to show you which items have a lower stock level than whatever number triggers a stock refill in your business model. You can even add an extra condition to the smartlist to take into account which of these items have been sold more times than what your trigger says inside a relevant time window. That should help you get an idea of what you need to reorder.
Running an honest business and proud of only sourcing from the best? Is MAP pricing a big deal to you? Sellery will support you every step of the way! Start your free trial today!
Elena is part of the Business Development team at SellerEngine. She explores online expansion opportunities and goes by the saying “If you can’t explain it simply, you don’t understand it well enough”