Exclusive AMA: Optimizing your Inventory Management with Shopify Experts!

[Jacqui]

Join Us for an Exclusive AMA on Optimizing your Inventory Management with Shopify Experts!

Date: September 10th, 2024

Time: 10 AM EDT - 12 PM EDT  

Inventory management and meeting demand can be particularly challenging during BFCM. This AMA will provide you with the knowledge and tools to optimize your inventory, reduce stockouts, and ensure a smooth sales period using Shopify’s solutions. Post your questions below, and the Shopify Product and Marketing team will be here to answer them during the live session.

What to Expect

Real-Time Q&A: Have questions about optimizing inventory, preparing for BFCM, or using Shopify’s inventory management solutions? Ask them below!

Expert Advice: Get direct answers from Shopify's Product and Marketing teams.

Community Engagement: Connect with other Shopify merchants, share experiences, and learn best practices.

How to Participate: No pre-registration needed! Join the Shopify Community on September 10th between 10 AM and 12 PM EDT. Post your questions below, and our experts will respond directly.

Read our Rules of Engagement before participating

*Please note, there is no video component to this AMA. This is a text based AMA. Your questions will be answered LIVE via text during the time period listed above. 

[FishHead-Greg]

I'm looking forward to this! Shopify has made my life as a business owner a lot easier than my old POS, but inventory mgmt has been one pain point. Maybe I'm missing something, but I assume every Shopify user would want and prosper with better inventory reporting. Hopefully you will share more detailed info on this topic... An essential report when in the buying process...

To place a booking order with a Vendor I look at the sales of all skus from a specific vendor within a certain time frame. I determine what was sold and what is in stock and then make an order based on my expectations for next period's sales. 

A quick way would be to utilize information in the "Sales by Product Variety Sku" Report, then adding date and Product Vendor Filters. BUT!!! There is not a current stock quantity option available in the options to Add Columns. Net Quantity is the net sales qty not Quantity on hand. I feel this data would be very helpful to more than just me.  Is there any way to get the quantity on hand added to the "Add Column list" column?

A more detailed way which I use is via Stocky > Reports > SKU/Variant Report, adding filters (Date, Vendor) and then adding the needed table columns. Qty Sold 3m and Qty Sold 12m are good BUT it would be a game changer to have previous year's 3m. For example, I'm looking to place a booking order from a specific vendor or supplier which has a ship window of next year second quarter. I want to run a report that shows what I sold in the quarter last year and previous year to best forecast what I will order for this year's booking order. I would really like to have the past three years but that might be asking for too much. 

Thanks for taking the time to read and think over my position. Please share if there is something I'm missing. Thank you

[mariaacle]

Thank you for your question @FishHead-Greg ! We're happy to hear that you're pleased with the platform overall. 😊

You are correct about the limitation when it comes to the "Sales by Product Variant SKU" report. We can pass this feedback along to the appropriate team in Shopify.

Regarding your process for placing booking orders with vendors based on SKU sales within a specific timeframe, have you considered using the "Sell-through rate by product" report intead? This report provides stock on hand quantities at both the start and end of your selected period. You can filter by vendor and review your preferred variants, as well as analyze data from past Black Friday events and previous quarters. This should give you valuable insights to make more informed reordering decisions.

Here's more information about this report, which we hope will be helpful for you. Let us know if this is sufficient and if you have any follow up questions.

[FishHead-Greg]

Thank you. I overlooked / never found the "Sell-through rate by product" and will explore it now. Thanks for sharing. I still really think adding the QOH inventory data to the column list of data points is a game changer that would help everyone. Please try to escalate as it would really add a lot of power to the reporting. I'm hopefull but not holding my breath since I've asked for this since I joined Shopify. 

[Friendly1]

Hi, I have products I sell in bundles and individually. What app do I use to account for the products sold in bundles and sold individually? I need my inventory numbers to reflect the product movement in both places. Thank you

[mariaacle]

Hello @Friendly1 thanks for your question! Have you tried using Shopify Bundles? Using this would help you maintain accurate inventory when the product is sold in the bundle and individually.

[mariaacle]

Hello everyone! 
Welcome to our Inventory management AMA! I'm Maria, a Product Marketer at Shopify, and I'm thrilled to kick off this AMA session with you all!

Our dedicated team of Product Managers and Product Marketers, specializing in the Inventory space at Shopify, is here to help you navigate the complexities of inventory management. With Black Friday and the holiday season just around the corner, it's the perfect time to ensure your business is fully prepared.

We'll be available to answer your questions from 10 AM to 12 PM EDT today. Whether you're just starting out or looking to fine-tune your existing processes, we're here to provide you with actionable advice and solutions.

We can't wait to hear your questions!

[Lynn_L]

Where do we post our questions? 

[Jacqui]

Hey @Lynn_L! 

You post your questions here! Our team of experts will work on an answer for you during this time and reply back to you here. 

Thanks for joining us today!

[myinboardmarine]

What is the best inventory forecasting to use for reorder points and also would like to be able to use it for our PO's. The current integration for PO's is not sufficent. Thanks!

[Eunhwa]

Is it possible to check my inventory on a specific date? The Product → Inventory feature only displays current inventory, but I need to view inventory for a specific date for tax purposes. If this isn't possible, are there any alternative methods to check?

Additionally, can I add incoming inventory to the system?

[myinboardmarine]

HI there!

[HENRYTOM]

Use the report

month end inventory value. It gives you a drop down for the month and year

[rob475]

I agree with your first question, why not allow a specific date??

[mariaacle]

Hello @Eunhwa thank you for your question, and apologies on the delay!

You can view inventory from a specific date using the Adjustment History page for a specific product or variant. To access Adjustment History, navigate to a product or variant and scroll down to the inventory card. This will give you a 90-day view of any adjustments that have been made.

To add incoming inventory into the system, create a purchase order or inventory transfer. This will show up as "Incoming" at the appropriate location on your inventory page. When you're ready to recieve the purchase order or transfer, that inventory will move over to the "Available" state.

[GhostApps]

Inventory History Guardian was designed specifically to address this need. It automatically saves a daily record of your inventory levels for each product variant at every location, allowing you to view historical inventory data well beyond Shopify's standard 90-day limit.

[KarenD]

We are having issues with Shopify's shipping charges to our customers. The price the customer is charged does not match the price we pay to ship. For example, Shopify charged 10.18 for a 6lb box to ship from PA to TX, and it actually cost us 12.81. When we did a test for a 9lb box, it showed the same 10.18 charge. Is there a way to get more accurate rates shown to the customer?

[cyclops]

where? do we post questions?

[FishHead-Greg]

Hi Maria - When time allows can you review my post/reply that I submitted 9/6 at 10:52AM?

Also I would like to hear from someone in regards to a report / process / solution to obtain info on a specific purchase order. When receiving large order it's essential to know which skus and qty are needed for specific open order waiting for shipments. Can you share info?

I'm also interested in discovering whatever information was prepared about optimizing inventory management. Please share.

[Jacqui]

Hey @FishHead-Greg!

We really appreciate you joining us today!

Our team is currently working on a reply to you. I will make sure to add your additional question in to be answered as well.

[rob475]

Many questions, makes you wonder why so many gaps in information delivery and functionality

[NWCartographic]

I run a business that sells Antique Maps, Original Prints, Vintage Posters, and historical ephemera and memorabilia. The "Categories" Shopify provides do not really suit my needs. There is a category for "Antique Globe" but nothing else dealing with the sort of antiques that I sell. Is there a way to request new categories? Also if I have to use one of the categories provided such as "prints, posters, & visual artwork," is there a way to make custom category metafields? The four provided do not suit my needs.

[mariaacle]

Thank you for your question @NWCartographic !

This is exactly why our standardized taxonomy is an open-source repository! Merchants are encouraged to request additions of missing categories directly on GitHub. Please submit your request here using this link. We have a dedicated team that reviews all submissions and incorporates them into the next version update of our taxonomy.

If you do not have access to submitting issues on GitHub, anyone can submit the request on your behalf. If you share more information, I can do it for you, or you can submit a ticket with our Support team.

[mariaacle]

Hi @FishHead-Greg thank you for your question and apologies for the delay! If I understand your use case correctly, the best approach would be to utilize the following methods to obtain detailed information on a specific Purchase Order:

View Purchase Orders: Navigate to the Purchase Orders section in your Shopify admin. Here, you can open any purchase order to see the list of ordered items, including SKUs and quantities.

Check Incoming Inventory: Go to your Inventory page and look at the "Incoming" inventory quantities. This will give you an overview of what has been ordered and is on its way to your specific location.

Please let me know if I misinterpreted your inquiry though! Hopefully this helps!

[FishHead-Greg]

I think you are missing the more detailed functionality which is a daily task in retail business that could be very powerful for all Shopify user. Viewing a purchase order is just that a listing of all items. Viewing Inventory page show incoming but not what's incoming specifically coming on a particular PO and what items are needed for one or more open orders.

I posted this topic on tomorrow's fulfillment AMA.  The need for a committed items report is vital when a business has many purchase orders, some of which have lots of different items and a shipment arrives. An important daily task is handling the incoming inventory and putting up for sale and away into back stock storage. BUT items needed for open orders waiting to be fulfilled must be pulled aside so they can be shipped. A committed items report assist in this process.

Is there anyway to get in touch with someone at Shopify/Stocky that cares about the platform's weaknesses and pain points for medium size businesses? What some users are looking for aren't rocket science. Most is reporting of data and history.

[Thetxboutique]

Is there a way to track inventory/sales if I use payment options such as venmo, PayPal, and zelle through shopify? I always lose track of my inventory bc someone will pay with venmo for example and I can't track it through my shopify inventory.  TIA!

[mariaacle]

Hi @Thetxboutique Thank you for reaching out with your question!

There are a few strategies you can implement to streamline this process:

Manual order entry: Whenever you receive a payment through an external method, you can manually create an order in Shopify. This will ensure that your inventory is updated accordingly. To do this, go to your Shopify admin, click on "Orders," and then "Create Order." Enter the details of the sale and mark it as paid.

Third-party integrations: There are several apps available on the Shopify App Store that can help integrate external payment methods with your Shopify store. These apps can automate the process of updating your inventory when payments are received through platforms like Venmo, PayPal, and Zelle.

Custom solutions: If you frequently use these external payment methods, it might be worth investing in a custom solution. A developer can create a custom integration that automatically syncs payments from these platforms with your Shopify inventory.

I hope this helps! If you have any more questions or need further assistance, feel free to ask.

[Keepsakes]

Hi,

If we did the manual order entry, is there a charge for storing and tracking each entry?  

Also, is there a way to upload our inventory from quickbooks to Shopify?

[mariaacle]

Hi @Keepsakes thanks for your question! If you are referring to creating manual orders with manual payments, you aren't charged third-party transaction fees for manual payments. Learn more here.

To migrate data from QuickBooks to Shopify, I believe this guide would help you navigate that (you can migrate data such as customers, vendors, inventory items, and locations).

[Thetxboutique]

That was super helpful! Thank you for the info. Can you elaborate on which
apps in the app store could help us streamline venmo, PayPal, and zelle?

[Alescia]

Hello! Fellow business owner here.

For in person sales paying via Venmo, to keep track of my inventory, I use the Shopify POS app and usually mark paid as “cash”.  Hope this helps. 

[Michole]

Hello. You can also create customized forms of payment like "Cash", "Venmo", "Square", etc. in the shopify POS app. Therefore, when you run the "Payment by type" report or any other, it will allow you to see the true different channels and audit them for receipt of funds.

[Olaeda]

Hello, I am looking for guidance on inventory management for jewelry brands. How can this effectively be managed in Shopify, aside from just the inventory quantity entered. How do I keep track of smaller components that are used to make up a larger product? Or, is this not something I can do here. Thanks

[melams]

Hi @Olaeda, thank you for your question.

The ability to track components or raw materials is something we are investigating, but not something we currently support natively. At this time, Shopify's inventory management within the admin is primarily for tracking finished good items that can be sold through your online store, POS, or 3rd party sales channels.

For now, I recommend checking out the Shopify app store for an app that is designed to track inventory for manufacturing. There are a number of apps for merchants of all sizes to help track and manage the manufacturing process, such as sub-component inventory. I can't recommend a specific app, but some useful keywords include: "MRP", "Manufacturing ERP", "Raw materials inventory".

Hope this helps!

[GertAndCo]

Hi!

When I have incoming inventory, where can I add this? I don't want it to be available yet, but I want to see what's on order and on its way to me.

When I export the inventory CSV there is a column for 'incoming', but I don't see this field anywhere on the product page or elsewhere?

[SinzsNathan]

Something I found out recently was that if you do purchase orders, that’s exactly a way to track. Previously I was manually entering inventory, but when doing purchase orders, marking it as ordered, and when it comes in I was selecting received which would update the inventory on Shopify.

[FishHead-Greg]

I'm no expert but I run a busy business with Shopify. I suggest you use the Stocky app for making purchase orders. Once a PO is made you will be able to send to a vendor/supplier and somewhat keep track of it. You can see what is on order and it will not be added to your Shopify Inventory until you receive it in Stocky. An add on app like Thrive offers more inventory management functionality if you need it but Stocky has improved over time. I'm hoping it will be expanded more sooner than later as there are limitations. The Stocky app will give you helpful info under Reports > Sku, then add filters. Hope that helps, one user to another user. Cheers!

[Iniquity]

Hey @FishHead-Greg , i'm using stocky now with the PO method. How is that different from thrive and what's better with thrive? Any insight would be greatly appreciated. 

[FishHead-Greg]

IMO Stocky is good but has some clumsy processes and could be so much better. I looked at Thrive numerous times but never jumped in. I was expecting to see some posts here about it and other solutions. I would like to learn more about it from real Shopify users who use Thrive. With regards to my take on Thrive... I'm afraid it adds more work into the process which is exactly what I got away from when leaving my old IMS/POS system. I really like using Shopify as my source of truth. When going with Thrive... Thrive is the source of truth which changes the game in some ways.

[heythere1]

If you use Quickbooks for accounting you can sync inventory with Shopify. QB holds the inventory numbers and pushes to shopify. There you can use PO's and bills to show on order and received. it also tracks COGS and gives an inventory asset for your balance sheet.

[petgrocer]

I encourage caution with this! Our QBO integration did not work, failed both for our accounting and inventory purposes and cost me hundreds of dollars in bookkeeper invoices to fix it. Inventory is extremely important to get correct, so try it with a back done first!

[mariaacle]

Hey @GertAndCo apologies for the delay! To manage incoming inventory without making it available yet, you can follow these steps:

Create a Purchase Order (PO) or Transfer: Start by creating a Purchase Order or Transfer within Shopify. This will allow you to track the inventory that is on its way to you.

View Incoming Inventory:
- Inventory Index Page: Navigate to the Inventory Index page in your Shopify admin. Here, you'll see an 'Incoming' column that displays the quantities of inventory that are on order and on their way to you.
- Product Page: Alternatively, you can go to the product page for a specific variant or product. Click on the 'Incoming' tab to view the incoming inventory details for that item.

[NWCartographic]

I run a business that sells Antique Maps, Original Prints, Vintage Posters, and historical ephemera and memorabilia. The "Categories" Shopify provides do not really suit my needs. There is a category for "Antique Globe" but nothing else dealing with the sort of antiques that I sell. Is there a way to request new categories? Also if I have to use one of the categories provided such as "prints, posters, & visual artwork," is there a way to make custom category metafields? The four provided do not suit my needs. 

[FishHead-Greg]

I'm no expert but I run a busy business with Shopify. I use the "Category" field for general purpose, high level, in my case most of my inventory is Fishing Tackle. In your case it might be Antiques / Prints / Media. To be honest I didn't look for your industry but I suggest starting there. Then I use the Product Type field to be more specific, in my case... Fishing Lures, Fishing Rigs, Fishing Rods, Reels, etc. I also use tags, collections and custom product meta fields. Hope that helps. 

[YH20]

Is there a way to capture an expiration date on the inventory system and get a prompt at some time periods say, 6 months and 3 months prior to expiration date? We sell beauty products and some of them have expiration date. Without such a prompt or where to enter these dates, we often have to be manually checking each product to know when they expire - sometimes we discover too late. Thank you.

[FishHead-Greg]

I'm no expert but I run a busy business with Shopify. I use the "Tags" for a purpose like this and enter a date like 202402910 for today. I can then run reports on products by filtering this date data tag. I use this to keep track of price updates, so I can identify when a specific product pricing was last checked and updated. I think this is a clumsy way of doing it for you but a solution none the less.

[YH20]

Thanks. I think I will try the tag method actually - I didn't think of that as a work around. Shopify is good but having too many work arounds has made me resort to using a separate POS system for my store and shopify for just online sales only. 

[FishHead-Greg]

May I ask what POS have you found best? Does it work/sync seamlessly with Shopify? What is your source of truth... the POS or Shopify?

[YH20]

Hi FishHead-Greg,

Sadly, the POS I use at my physical store does not sync with Shopify. Like a few people have mentioned under this topic, I actually use two different systems. Shopify for my online, and another POS for my physical store. Yes, it is too much work but it gives me peace of mind. What we do is, whenever we sell online, staff at the store scans the items through the physical store and ships. So, while the sale was done via shopify online, at the physical store we are able to scan and ship. This way, the physical store maintains an accurate inventory of what is in stock while the online store manages whatever inventory we assign to it on shopify. Yes, too much work but peace of mind as I can run reports and see exactly what is going on with the store POS.

[mmehmen]

Is there a way to see the ABC analysis to see the product as a whole instead of by variant?

Also can you change the ABC analysis to more than 28 days?

I am looking for an equation or some sort of data set that can help me determine which products to invest in restocking. Some of these variants could be sold out for months or are only hot in specific seasons.