Knowing how to manage stock transfer is an important part of any business, whether e-commerce or brick-and-mortar stores, or both. If you have multiple locations running, or need to move stock between locations, then this article is for you.
Stock transfer does not have to be complicated. First, I’ll take you through what exactly stock transfer is, the potential issues that can arise, and how to manage it effectively. As part of this, I’ll explain how our app, EasyScan, can make the stock transfer process smooth and simple.
What is stock transfer?
On a basic level, stock transfer means moving goods from one part of the distribution chain to another. This is part of wider warehouse logistics, whereby your stock is managed and moved, and orders are filled and distributed.
The purpose of a stock transfer is to make your storage and order process more efficient. Optimising storage space and thus capacity is important, as well as speeding up the handling process to fulfill orders at higher speeds.
Stock transfer between multiple locations
Knowing how to manage stock transfer is especially important if you have multiple different locations for your stock. This can include spaces like warehouses, shops locations, pop-up locations, and trade shows.Basically, a stock location is anywhere you might be holding and distributing your products from.
Through Shopify, you can manage a number of different locations, from 3 up to 20 (and even more upon special request). You need to pick and set up the number of locations right for your business size and aims so you can transfer stock between them as needed.
You might be moving stock regularly between different locations, like a shop or pop-up and a warehouse. Alternatively, you might be doing a one-off stock transfer to and from a warehouse to a trade show. Or you could be moving from one distribution warehouse to another as you upscale or relocate your business.
Why use multiple locations?
Multiple locations are becoming more important in the world of retail. There are so many different places and ways you can sell now that it would be a mistake not to take advantage of them if they would benefit your business. Being able to sell, and therefore stock transfer, between multiple locations can increase shop visibility, customers, sales, and therefore profits.
How to manage stock transfer between multiple locations
So, if you’re working with multiple locations, knowing how to manage stock transfer can make your distribution process a lot more simple.This is where EasyScan comes in.
Potential issues with stock transfer
Stock transfer can cause issues. Recently, Shopify has made it possible to set different sales locations to help manage stock effectively.However, you might run into some problems.
If you don’t have an accurate knowledge of your inventory, it can be hard to keep track of where products are between locations. This hinders order fulfillment, as orders might be sent to the wrong stock location. It can also cause confusion and delays when moving stock between different locations. If you don’t know what stock is moving where, how can you effectively fulfill your orders?
Furthermore, the process of stock transfer can be overwhelming for a small business or a large one. This is especially the case if you’re new to the process. Inconsistencies in the process, logistics, and human error can hinder an efficient transfer. If you’re also moving regularly between multiple locations, stock can get lost, misplaced, or mixed up.
Using EasyScan to stock transfer
EasyScan makes the process of stock transfer and managing stock across locations much more straightforward. Using our simple barcode creation, printing, and scanning system, you can label all of your products. You are then able to track your inventory in the app, knowing exactly what stock you have in each stock location. You are then able to pick which location orders are fulfilled through Shopify.
When scanning in new inventory or updating existing inventory with EasyScan, you can pick which location you are working from. If you only have one, this is pre-selected for you. If you have multiple, they will appear for you to choose from. If you’re setting up a new location, you can pick this once created in Shopify, and transfer inventory into it. Checkout our simple guide on how to update inventory to get started.
Checking inventory levels with EasyScan
You are able to check inventory levels at different locations with EasyScan before, during, or after stock transfer. You can scan physical products using their barcodes, and compare the items you have scanned to the inventory report that EasyScan produces. You can print a final report to check your stock levels so you know exactly what you have in each location, or what you have moved around.