![]() If they’re not, then it would result in negative consequences, such as a reprimand or even being paused within the marketplace. It’s best to set guidelines and rules where if items are listed as an inventory in the marketplace platform, then they have to be sellable. OPERATE YOUR MARKETPLACE WITH INTEGRITY Create Rules for Inventory Systems So, it’s important to not only have the right inventory management system for your marketplace, but also to have the system that the supplier or seller is using synced up with the systems that are transmitting the inventory data to the marketplace.ĭoing this has the benefit of eliminating these types of errors and challenges that might occur, such as over-selling items. If they don’t do that and someone tries to purchase all 100 rubber chickens from the marketplace platform, then the purchase may technically go through but there’d be a shortage of 50 rubber chickens. The seller would then need to update the marketplace platform so that it reflects their reduced inventory of 50 rubber chickens. The seller then sells 50 rubber chickens to a customer who doesn’t purchase them through the marketplace platform. That data will then change based on transactions that occur within the platform.įor example, let’s say a seller lists 100 rubber chickens as in stock on the marketplace website. While the perpetual model is dependable when it comes to many factors, it doesn’t physically have the ability to capture all inputs like spoilage or how many items were damaged in a flood, for instance.Īny inventory systems used by you and your vendors will need to be integrated into the eMarketplace platform so that it has the correct set of data. ![]() Many organizations end up having a hybrid inventory system, where they rely on a perpetual inventory system but occasionally implement a periodic inventory method and do a hard count of items, like if there’s a potential for spoilage.Īny periodic inventory method performed would then need to be reflected in the perpetual inventory system so that the data matches the actual situation. Then you can factor these things in to optimize your operations and increase customer satisfaction. Given the limitations of a periodic inventory system and the long-term cost effectiveness and efficiency of a perpetual inventory system, usually a perpetual inventory system will be the best option to have as your main system, though that isn’t the whole story.īe aware of how sellers and drop shippers are getting items to your distribution centers and/or customers, and how well they can manage their inventory. If they're using a periodic inventory system, you may want to increase the buffer or amount of leeway that you incorporate, and provide them with specific recommendations and best practices that are important from a customer’s perspective. If a seller doesn’t have a sophisticated inventory management system, then it makes sense to require the seller to disclose some level of how they’re handling their inventory, including guidelines for excess capacity, buffer inventory, and how well they’ll be able to accurately report the state of their inventory. This is a rudimentary technique that can be low cost to set up and configure, but it is also a limiting factor to sellers within your marketplace if they have this type of system, and to the execution within your marketplace if your marketplace is holding inventory in stock. This is done on a periodic basis, such as weekly, monthly, or quarterly. Typically, the periodic inventory system is a low cost, simplistic approach, where you conduct a hard count of the physical items in the inventory to assess what’s in stock. When a marketplace first starts, it’s common to adopt a periodic inventory system.
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