Learn how to sell on Amazon from Skip McGrath Follow Skip on Facebook
Follow Skip on Twitter
Final Sale on eBay books

SUBSCRIBE:

Enter your email address to receive notifications about new blog posts.

Blog Search


Categories

Archives

See Also

Our Most Popular Posts

Resources at Amazon

 

New Years Resolution for FBA sellers

December 31st, 2014 by Skip McGrath

“Master Inventory Control”

For most of us, inventory is our single biggest expense. Amazon is very simple – In general, the more SKUs you have, the more you will sell.

But under performing inventory can be a profit trap. As you go through the year, follow these steps:

– Practice Just in Time Inventory. Watch your stock like a hawk – know how long it takes to reorder and get new inventory into Amazon. Ideally you new inventory will hit FBA just as your last item sells.

-Pull an inventory report and a transaction report every month. On the transaction report, sort your transactions by SKU and create an extra column where you enter the cost of that product (including inbound and FBA shipping cost). This will tell you what your top sellers are and how much money you are making.

On your inventory report identify your slow sellers and take action such as lowering the price, rewriting your titles, keywords and descriptions, etc. Basically do anything it takes to get that inventory moving. If it just won’t move, then you have a dog product and you want to really lower the cost to get that money back to put to work on products that sell.

– Keep searching for new items to sell to replace those slow sellers.

– Don’t be a margin pig. Yes big profit margins are nice but not if the items are sitting there a long time. Lowering your price and margin will allow you to turn your inventory over more often. And, the more times you can turn you inventory over in a year the more money you will make.

-Don’t forget about the extra Long Term Storage Costs Amazon imposes twice a year on inventory that has been in Amazon over a year. Don’t get caught with a lot of that. It can be very expensive and a real profit killer.

Follow these steps and I guarantee you will see a more profitable 2015 than last year.

Good luck and Happy New Year
Skip McGrath

Write a comment






Popular Pages

24 Tips for Selling on Amazon

24 Amazon Selling Tips

77 Tips & Tools for Selling on eBay

77 Tips and Tools for Selling on eBay

Learn How To Sell on eBay

Learn to sell on eBay

Want to sell on Amazon?

Learn to sell on Amazon


My Top 99 Wholesale Sources

99 Wholesale Sources

Personal eBay & Amazon Coaching Program
Would you like personal coaching?

Coaching for online sellers



iDrive Cloud Backup
 
 
 
 
 
Mailers USA
 
 
 
Terapeak
 

 
Skip's Newsletter
 
Own Your eBay Traffic
 
Complete ebay Marketing System
 
Niche Markets
 
Wholesale Buying System
 
Cleer Platinum
 
eBay Consignment Business
 
Site Build It!
© 1999- Harry McGrath, Inc., DBA Skip McGrath, Auction Seller's Resource and Vision-One Marketing. All Rights Reserved.

eBay Tools and Resources | Contact Us | Privacy Policy | Guest Contributions | Shipping & Return Policies
 
Home | Training | Free Articles | Tools & Resources | Web Wholesale SearchTestimonialsBlog