Hi Community ,
Shopify runs our entire business backend. From online store , to brick and mortar retail - on the customer facing side, Shopify does everything almost perfectly. However... when it comes to actually running a business long term, your inventory value is one of the most important figures in the business. It’s where your investment sits until it’s turned into profit.
It baffles me that a platform such as Shopify , does not support this very important fact natively.
Obviously we’re all here because we run our business using the Shopify platform. I’d like to know how everyone is reporting on their inventory :
1. Inventory value at cost
2. Inventory value at cost historically
3. And Average Margin (GP) for sales / total inventory
We’ve tried Better Reports, Delirious Profit and even quick books (synced to Shopify) with everything yielding very disappointing or conflicting results.
We are now considering dropping Shopify for our retail and inventory management and using it only for the online store.
Any advice and best practices with inventory reporting and Shopify would be most appreciated.
If you're still looking for a solution, we launched a new app, Merchbees Inventory Value.
Merchbees Inventory Value provides the exact value of all products in stock in real-time. Whenever you click the report, you can always see the up-to-date stock value, no waiting! You can see your inventory value according to both cost and price.
And... FREE now! You can find more details on our app page.
If you have any questions, please don't hesitate to reach out to us at email@example.com.