How Sumtracker manages inventory for your Shopify stores
Sumtracker is an Ecommerce inventory management software. It connects with your Shopify stores to sync inventory. E-commerce businesses need to manage inventory accurately for more sales and profit. Sumtracker takes care of all tasks related to inventory management.
Below I will discuss the main features of Sumtracker and how it can help you to grow.
Multi Store Inventory
Sumtracker is integrated with several Ecommerce platforms. You can connect these platforms along with multiple Shopify stores. Products from your Shopify store are automatically saved in Sumtracker. Sumtracker automatically syncs data when you add a new product or update existing products on your Shopify store.
All orders on Shopify store are synced in Sumtracker to show you unfulfilled item quantity and reduce inventory when an order is marked as fulfilled. Sumtracker syncs orders periodically to keep everything updated. Sumtracker can detect refunds, cancellation and fulfilment of orders to update the inventory accordingly.
Sumtracker calculates the available inventory by subtracting the booked quantity (unfulfilled quantity) from the physical quantity. The available quantity is updated on the Shopify store. Using this approach you always know how much stock you have in your warehouse at the moment.
Available quantity = Physical - Booked
Sumtracker can be connected to multiple Shopify stores. You can maintain a common inventory for all stores. The same SKU from different products are linked to the same product in Sumtracker.
You are create bundles in sumtracker for selling multiple items together. For example a Pack of 4 Juices or a t-shirt and jeans combo.
Sumtracker calculates the inventory of bundles in real time to update on Shopify. Inventory for a bundle is calculated using the inventory of components. For example the inventory for pack of 4 orange juices is calculated based on the inventory of individual orange juice. If there are 100 units of orange juice, only 25 units of the bundle can be sold online since 100/4 is 25. This calculation is done for bundles with multiple components too and the minimum inventory among all the components is considered as the inventory of the bundle product. Read here for more details.
Bundles can be imported in Sumtracker using excel sheets. This is very useful to create multiple bundle configurations in bulk.
In sumtracker you can maintain inventory for multiple locations. Locations in your Shopify store get automatically created in Sumtracker. You can set fulfilment priority in Sumtracker. Based on the priority of the location Sumtracker will select it for booking stock when a new order comes. To transfer stock between locations you can use stock transfers.
Sumtracker has easy to use forms for adding, reducing and setting inventory. You can use bulk excel imports to update inventory in bulk. Sumtracker has permissions to control which user can change inventory levels. Every change in inventory is logged with the user id and date so that you can track who made the change and why.
Sumtracker updates inventory on all online stores as soon as any change is made in inventory levels.
In Sumtracker you can create and track purchase orders. For every product you can set the purchase price and currency. Sumtracker supports multi currency purchase orders.
Against each purchase order you can create multiple receive notes for partial receiving of items. The purchase order will remain open till there is any due quantity left. It will automatically change to closed when all the items have been received. You can close the order manually even if there is due quantity left in the order.
You can purchase items in packs. For example protein powder or coffee beans can be purchase in packs of 10lbs, 20lbs or 5lbs.
Purchase orders can be saved as PDF and printed out to send to the supplier. Print formats of purchase orders can be customised to show information based on your requirement. Sumtracker has a supplier database to store the contact details of all your suppliers.
Reports and Alerts
Sumtracker has important reports like best selling products, revenue per day, revenue per product, historical inventory and more. You can see sales for both bundle products and its components.
Sumtracker has purchase reports with purchase per supplier, purchase per product and costing of products based on purchase rate.
Sumtracker has inventory logs for each movement in the stock.
You can set alert threshold in each product to get an alert when the stock reaches below or at that level.
Inventory Forecasting (beta)
Sumtracker is introducing inventory forecasting. Using this you will be able to forecast your inventory for the season. Sumtracker will use historical sales data and manually set parameters to determine how much inventory you should hold for maximum profit. This feature is currently in beta.