Bundles and kits inventory management for e-commerce
Bundles are a group of items sold together as a single product. Some examples are a pack of 10 apples, a men’s shaving kit, a pair of jeans, combo pack of shoes and socks.
Bundled items are great because they get you more sales. Customers love to buy complimentary items together at a discounted rate. Bundles are a win-win for the customer and the seller.
Bundles are packed only after receiving an order for them. For example you will pack a combo of shoes and socks when receiving an order for it. This is because packing things together without an order is an added cost and effort. So you do not keep a stock of bundles directly. The maximum bundles you can make depend on the stock of its components.
Let’s continue with the example of shoes and socks bundle. Consider the quantity of socks to be 2 pairs and 1 pair of shoes in the bundle. Let’s give the bundle the name Running Shoes Combo.
Running Shoes Combo = 2 X socks pair + 1 X shoes pair
The stock for socks is 200 pairs in your warehouse and the stock for shoes is 80 pairs.
The maximum combos you can make from socks is
200 / 2 = 100
The maximum combos you can make from shoes is
80 / 1 = 80
So the maximum combos you make is 80 which is the minimum value form the components.
This calculation has to be done to get the maximum bundles which can be sold to customers. To get uninterrupted and maximum sales 80 qty can be used on your online store for the Running shoes combo.
You might think what if I sell the shoes and socks directly too? Will it not keep reducing the number of combos that be sold?
You are correct to think that. The maximum stock for bundles changes both when the component is sold and the bundle is sold. So this value has to be updated in both cases. To not oversell stock for bundles needs to be recalculated and updated at the online store very frequently.
Sumtracker can do this for you automatically. Every time a sales is made inventory for bundled items is calculated and updated on your store automatically.
You have to create the bundles in Sumtracker. Sumtracker keeps a note of how many bundles have been sold and how many components have been sold. This is done as soon as a new order comes in. Then sumtracker calculates the current available stock for bundles and updates it on the online store.
Managing stock for bundles should be automated for best sales and accuracy. Using sumtracker you can solve inventory management for your e-commerce business. Sumtracker has many more features to take the load off your mind for inventory management.