Auto-manage your list with TradeGecko – The Best WooCommerce Inventory Management Plugin 2020.
If an entrepreneur is just starting their own WooCommerce store, managing store inventory is not much trouble. Initially, they have only a few products to handle. But over time, as the business is growing, things get complicated then entrepreneur need some plugins that helps to manage the inventories.
If you are the owner of a brand or you are handling an e-commerce store, management plays an important role in developing your business smoothly.
Management – Management is nothing but a process that includes planning, organizing, staffing, directing and controlling. If an entrepreneur handling these processes successfully, then its easy to enhance the leadership of their business.
Inventory – The quantity of products and items available in e-commerce stores. The place to store these inventories is called a warehouse. Many warehouses may contain large quantities of products.
Business owners all over the world have a difficult time managing their store inventory. And the situation gets worse when you have a good amount of customers to satisfy.
Do not fret. Now, WooCommerce with their best inventory management plugin – TradeGecko.
By using Tradegecko – best WooCommerce inventory management plugin, If you keep your WooCommerce store, you can easily take enough orders, sell more products.
TradeGecko released a ton of new and awesome functionality that helps you to use this plugin easily and quickly. As we all know that there are a number of plugins available in the market then why TradeGecko is one of the best plugin to choose for managing e-commerce stores.
First, let’s take a look at the advantages of the WooCommerce plugins. Why business owners can choose WooCommerce for their stores so that they can work smarter and efficiently. Also where they don’t need to use these plugins.
Importance of WooCommerce Plugins
WooCommerce provides us with flexible features that help us manage our stocks better. In some cases, business owners can find many tools and softwares, which are used to manage their store inventory.
Look at some of the areas where WooCommerce can make a positive difference:
1. Advance & Attractive Themes
2. Automation in Update
3. Manage Multiple Sales Channels
4. Flexibility in Nature
5. Control Everything from Single Platform
6. Supply Chain Facility
7. Update Inventory from Anywhere
8. WooCommerce Integration
9. Track Regular Growth of Business
10. Get Inventory Reports
Disadvantages of WooCommerce Plugins
The WooCommerce Inventory Management plugin developer also has some major disadvantages. The main thing that every user should understand is that WooCommerce is not a complete e-commerce content management system.
Look at some of the areas where WooCommerce can make a negative difference:
1. Stressful Tasks
2. Loss of Time
3. Difficult to Handle Large Databases
4. Not a Easy Task to Update Products
5. No Inline Editing
6. Hard to Implement Multi-Currency
7. Functionality of Wishlist is hard to implement.
Features of TradeGecko : Things makes TradeGecko to Manage Inventories Efficiently
TradeGecko – A great inventory management plugin provides advanced features that help us control stock and organizational platforms that work with multichannel e-commerce operations.
The core of TradeGecko is to automatically complete all tasks while improving overall accuracy rates and cutting costs.
The key features of TradeGecko are as follows :
1. Inventory Optimization
TradeGecko’s inventory optimization software allows entrepreneurs to update the correct quantity of stock to handle over stock or out-of-stock positions.
Organize your internal operations through automated demand forecasting, inventory optimization and reorder points.
Features of Inventory Optimization
a. Setting-up Reorder Points
With this WooCommerce inventory management plugin, business owners can set reorder points with inventory optimization data and receive notification whenever there is a requirement of stock replenishment.
Whole data can be pushed back from TradeGecko to Lokad. History is available for all the available products in the e-commerce store.
b. Automated Inventory Optimization Metrics
This inventory management plugin can automatically generate metrics for reorder point, order quantity, lead demand, accuracy.
c. Automated Demand Forecasting
By integrating your Lokad account with TradeGecko, you can well take advantage of a fully automated demand forecasting and inventory optimization system for wholesalers and retailers. It also helps you to check the correct status of all sales channels
2. Warehouse Management
Efficiently manage multiple warehouses and inventory locations at all locations from a single platform. This WooCommerce inventory management plugin helps entrepreneurs to transfer stock from one warehouse to another.
This feature of TradeGecko helps in shipping, receiving, picking and packing.
Features of Warehouse Management
a. Transfer Stock between Warehouses
TradeGecko has an awesome feature where a store owner can transfer products from one warehouse to another. It basically reduces the time complexity.
b. Receive Stock into a Selected Warehouse
When an entrepreneur place a purchase order in order to fulfill the store inventory. At that time, he can select a specific warehouse where he wishes to receive the stock orders.
c. Bin Locations
This feature of Warehouse management is only available with advanced warehousing. Under this feature, business owners can track the locations of their variants from different warehouses. Once your orders reach the shipping stage, print the lists.
d. Sell on Consignment
Entrepreneurs first need to set up a location of their stock and then process the stock transfer to transfer the stock to the place of consignment. After that entrepreneurs can easily create sales orders for their business.
e. Location Report
Under this feature, entrepreneurs can examine multiple tasks like – Stock-in-hand, Committed stock, Inventory value, Profit value, Last ordered stock, Last purchased stock, and Profit margin.
f. Allow Remote Team to Collaborate
There are numbers of workers working in different warehouses, but there is a head office that can control the overall inventory information of the business.
g. Restrict Access
The business owner has the right to restrict access to certain specific information from workers in warehouses.
For instance, Warehouse workers can get purchase orders, this process will automatically update the inventory tracking system without any manual errors, but all those workers cannot access supplier information.
3. Inventory Control
Whatever sales and purchase orders are made on a daily basis, this feature can automatically track total inventory transactions. With WooCommerce inventory management plugins, any e-commerce store owner can easily manage their inventories available in multiple warehouses.
Key Features of Inventory Control
a. List of Inventory
These facilities provide you with a complete set, where you can check the total number of stock available in the store. Each and every product in the store can display the list of stock on hand, committed stock, cost, moving average cost (MAC) and stock history.
b. Product Details
Entrepreneurs can easily edit the list of products that includes information like multiple images, variants, SKU code, barcode, supplier code, buy price, option, weight multiple price list such as wholesale and retail, sellable option, texable option, description etc.
c. Product History
Entrepreneurs can easily check the product history. Here he can examine the restock log of quantity, assigned team member and date.
Every available product in an e-commerce store can contain separate variants with product options like weight, size & color as well as bundles.
e. Barcode Scanning
Barcode scanner is basically used to search the product by barcode scanner. It immediately records product information in sales and purchase orders. This inventory management plugin with advanced stock management system works with all standard barcode scanners.
f. Inventory Detail Report
First – it checks the total stock on hand and then filters by locations or product type, total available stock and total committed stock. Using stock control software, details can also be segmented by each product and version.
g. Reorder Report
Examine all products and variants that have fallen below a reorder point to re-display the supplier name, number of products and variants in the list, as well as a link to the recorder page.
4. Order Management
This awesome feature first synchronizes your orders with your inventory and increases your business efficiency. This feature also helps entrepreneurs to synchronize their orders with their inventories and generate sales reports.
Key Features of Order Management :
a. Synchronize your Orders with Inventories
This feature reduces the time consuming process of handling the orders and inventories together. It automatically synchronizes your orders with your inventories.
b. Sales Orders Workflow
Draft : Send and edit sales quotes
Active : It mark committed stock and receive payment
Finalized : It marks orders as paid or unpaid.
Fulfilled : It marks that all goods have been shipped/not shipped and paid/unpaid.
c. Sales Channels Together
The sales order management software provided by TradeGecko allows you to retrieve all the sales orders from all your sales channels in one central system. Entrepreneurs can easily create sales orders from wholesalers and automatically add those sales from online sales channels.
d. Access Sales Reports
This WooCommerce inventory management plugin can create sales reports on a regular basis. It brings all the records of sales together to analyse the revenue of a business.
5. Multichannel Sales
TradeGecko provides small tools that are helpful to manage inventory and orders for all your sales channels. Entrepreneurs can easily sell their goods in marketplaces via B2B, B2C or from e-commerce stores.
Key Features of Multichannel Sales :
a. Sell Internationally
This feature allows entrepreneurs to sell their products in any country. TradeGecko’s multi-currency facility does not place any limits on your operations. Entrepreneurs can manage their inventories and accounting in their currency and trade with customers in different currencies.
b. Avoid Stockouts
All your sales channels will automatically sync with your inventory via TradeGecko. Once an entrepreneur can sell an item on one channel, the level of stock on all other channels will automatically update.
c. Avoid Blocking
Operation can be done on a first come first serve basis. There is no need to split inventories for different sales channels.
d. Upload photos to all E-commerce Channels
Entrepreneurs only need to update their products on TradeGecko and the required information will be automatically pushed across all your e-commerce channels.
Their online shops will always show the latest product descriptions, available products in a store, and the exact stock on hand for each item – without you having to update each and every channel at a time.
e. Manage Orders
If an entrepreneur can use TradeGecko, no matter how many sales channels a business owner has, all the orders can be managed with this inventory management plugin.
6. Wholesale Inventory Management
With TradeGecko, an entrepreneur can easily manage to take bulk orders. This process can create and email sales quotes, generate sales orders, self-serve existing customers and more.
At any WooCommerce inventory management plugin we have an automated order management system that caters to wholesalers – and now you can increase your sales by gaining loyal wholesale customers through our B2B platform.
Key Feature of Wholesale Inventory Management
a. Create Sales Quotes
This feature can create professional sales quotes for the customers in just a few easy steps. This will enhance the goodwill of the business brand in the marketplace.
b. Set Your Wholesale Price
First describe the wholesale price list and let it automatically populate the sales orders. When selling on multiple channels, separate your retail prices from your wholesale prices.
c. Set Special Price List
Entrepreneurs have to provide a list of prices of the product for every different customer, which will automatically appear in sales orders.
If a business owner can change the prices according to their wishes then they only need to update once in TradeGecko. The same prices will be used in every next transaction until you make an adjustment.
d. Set Price Breaks
Always try to show a price list of cheaper items to increase sales orders. This will definitely affect the revenue of the business.
e. Sell Using Multiple Currencies
Entrepreneurs must sell their products in different currencies in every part of the world. But entrepreneurs should take care of defined exchange rates. This will bring their business growth rapidly.
7. Purchase Order Management
TradeGecko is also popular because of managing purchase orders. As we all know, there are a number of orders placed on a daily basis. To handle all these orders is a complex task for every entrepreneur.
But this WooCommerce inventory management plugin can generate a report of exactly what order is placed.
Key Features of Purchase Order Management
a. Create & Edit Purchase Orders
TradeGecko can take care of all the necessary information related to the supplier when creating a purchase order. This will definitely reduce the manual calculations.
b. Complete Purchasing Workflow
Tentative Orders – Draft
Purchase Orders – Active
Once everything is received, you can mark it as “Received” and your stock level will automatically update. There is also an option to get a purchase order partially, or in full.
c. Easily Generate Reorders Report
Examine all products and variants that have fallen under the list displayed for each supplier’s name, a supplier’s name, the number of products / variants, and a link to the page again.
Under this facility, TradeGecko can take care of all manufacturing processes. What quantity of products are manufactured on a daily basis and in which category.
With a bill of materials and production orders through construction workflows and fulfillment through automation production.
TradeGecko for Manufacturing was designed to make businesses automate and integrate with commerce and supply chain ecosystems.
Key Features of Manufacturing :
a. Bills of Materials
Create and manage single-step bills of materials and account for a complete good inventory of component parts, including additional costs such as labor, shipping, and more.
b. Production Orders
Account as to the start and end status of each bill of Materials by creating and fulfilling production orders.
c. Insufficient Stock Alerts
If an entrepreneur has insufficient stock to fulfill a production order, This WooCommerce inventory management plugin will notify you so that you can adjust the production order quantity and order additional components.
d. Batch Tracking
If parts of your bill’s components are tracked, TradeGecko will allow you to choose from which batch you will supply your production order. Once finalized, you can assign a batch to your fully created variants.
9. Backorder Management
Managing backorder is easy with TradeGecko’s inventory management software. Organize business inventory operations with backordering by pre-order inventory and complete orders on time.
Our inventory system allows entrepreneurs to collect sales orders and ensure visibility on incomplete orders.
Key Features of Backorder Management
a. Consolidate Sales Orders
With backordering, all sales orders for the unavailable item are consolidated and converted into one purchase order per supplier. This can be done for many items that are not currently in stock – facilitating you when working with suppliers.
b. Visibility of Sales Orders
Entrepreneurs can now see items that are incomplete at a glance on both sales and purchase orders. Their sales order will be marked with the same purchase order to complete. Tags can be used to organize and match both sales and purchase orders so that you can complete orders on time.
c. No More Stockouts
Business owners can complete them in one delivery window by collecting and knowing orders in advance to address the “demand outstripping supply” problem for your products. Backordering gives you confidence to know where your orders are at all times.
10. Customer Relationship Management (CRM)
Keep all the customer and supplier data in one place. TradeGecko automatically records all customer’s orders and purchase history, allowing you to understand customer behavior and provide a more personalized customer experience.
Billing details, postal addresses, average purchase types and sizes can be entered in a way that orders management and gives them a more personalized experience.
Key Features of CRM :
a. Record Your Customer Order History Automatically
View all orders with every detail and status made by every customer in your database. Watch properly when orders were created and even when the email was opened.
b. Never leave important details about your customers and suppliers
Assign notes to customers and suppliers. In this way, you will ensure that any information is never lost in this process, or is unavailable to team members who need it.
c. Automate the default discount for every customer
A default tax rate and exemption level can be set for each company in your customer database. With the help of this functionality, entrepreneurs can make fair discounts that improve customer relation management.
d. Set default custom addresses for each customer
Set any type of address, such as billing, shipping, warehouse – any address you need to better manage your customers’ shipments.
11. Order Fulfillment
Entrepreneurs are now able to automate and control your order fulfillment at higher volumes and at a lower cost. Integrate business channels, locations and processes for greater visibility.
Automate and control your orders, integrate all channels, locations and processes, execute every step required in the workflow and have visibility of the entire process.
Key Features of Order Fulfillment :
a. Professional Shipping Documents
This feature reduces the time consuming processes. This WooCommerce inventory management plugin can easily create packing slips and shipping labels directly from sales orders, and print them to attach packages.
b. Packing Slips
A packing slip is a shipping document that accompanies each package, which includes a detailed list of package contents. This process makes it easy for e-commerce store owners to pick up, pack and ship their orders at record speeds – knowing what to choose and pack for every package.
c. Shipping Labels
Shipping labels are not too worrying about your team’s handwriting – you can quickly batch your shipping labels with TradeGecko’s integrated fulfillment shipping tool.
d. Partial Fulfillment
A sales order can be fulfilled in multiple parts if needed, and entrepreneurs will have all the records to ensure that nothing is lost in the past transitions.
The accounting system of TradeGecko are integrated with business inventory and order management systems. The invoices of all the transactions are automatically generated and get more visibility on costs and profits with our multi-currency pricing and more.
Key Features of Accounting :
a. Multi currency pricing
Buy and sell in different currencies, keeping accounting records in your currency. Here one point is to be noted that prices are automatically changed according to exchange rates.
Entrepreneurs are selling their product in which country, TradeGecko will convert their invoice to base currency before pushing the invoice into your accounting system.
b. Tax Types
This functionality allows entrepreneurs to predetermine “bundles” of taxes like – sales tax, compound tax, or local sub tax etc. Business owners can create as many tax types as you like, and you can use them when you make a sale or purchase order.
It can create the invoice from an order placed with just one click. Send invoices to customers directly from TradeGecko – better than juggling with your email browser, accounting system and inventory management system.
13. Batch & Expiry Tracking
Batch or lot tracking allows you to have insight into product traceability while helping to maintain better customer relationships, reduce discounts and worsen, and improve your business workflow.
It can reduce the pain of product recall, be in control of ending stock and complete orders using First in First Out (FIFO) logic to maintain a positive relationship with your customers.
Key Features of Batch & Expiry Tracking :
a. Create or Edit Batch Tracked Products
Improve product traceability by assigning batches to products and keep track of your journey in purchase orders, stock adjustments and sales orders.
b. Receive Purchase Orders for Batch Tracked Inventory
Track your upcoming products when they discount short-dated stocks by reducing exposures or by their expiration dates.
c. Stock Adjustment List with Batch Track
Stay in control of inventory fluctuations by using stock adjustments to remove defective or damaged batches from your inventory.
d. Stock Transfer Track List with Batch
Keep inventory levels healthy by transferring batch tracked products to many warehouse locations.
14. Price List Management
To manage the prices of the products available in an e-commerce store is the key factor to run a business. TradeGecko – inventory management plugin allows entrepreneurs to manage custom price lists in different currencies, across different customer types, product categories, regions and so on.
Key Features of Price List Management :
a. Add & Change Prices List Easily
Use Price List Importer to add and change prices in your inventory on TradeGecko.
b. Specify Different Price Lists for Specific Customers
Similarly, entrepreneurs can provide price lists with special discount rates for their best customers. These prices will also appear in your B2B e-commerce store.
c. Set a price break
Offer to customers who shop at a low price in bulk through a price break.
15. Inventory Management Reports
Access accurate inventory reports providing real-time insight into stock inventory. Our inventory management software allows you to run inventory stock on stock reports, hand stock reports and more.
Start tracking your cost of goods sold, avoid overselling and underlings, and even create custom reports.
Key Features of Inventory Management Reports :
a. Customize the Report with Dimensions
Entrepreneurs will now be able to easily identify products through the following dimensions:
b. Inventory stock on hand report
Take a detailed overview of your list with a list of all the products and variants you have in stock, as well as a list of items that are out of stock.
c. Inventory Detail Report
Look at the current stock level you have, the quantity of stock for sales orders, and the available stock.
We have explained the best features of TradeGecko – a WooCommerce inventory management plugin that helps you to allocate the resources in such a way that you can easily manage your required inventory.
By summarizing all the features, now you can decide on your own – why TradeGecko is one of the best inventory management plugin.
If you’re an e-commerce store owner then stop yourself suffering anymore, take advantage of these great features of TradeGecko and enhance your business growth rapidly.
Also share your thoughts in the comment section.