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Why Is Smart PO Management Important?
Some businesses are satisfied with verbal commitments or email threads when cutting purchase orders. However, there is much more that goes into accurate purchase orders than the orders themselves. A smart purchase order (PO) management process and its proper use is a vital component to any successful business, particularly on Amazon. Keeping your items in stock will give you the ability to maintain a competitive edge in the marketplace.
Not only will it save you time due to extensive automation, PO creation becomes streamlined with Amazon MWS, saving you money by helping you make the right replenishment decisions with speed and accuracy. With Feedvisor’s Smart PO application, we harness the power of big data to help you effectively manage your purchase orders.
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What Does Smart PO Management Do?
Smart PO helps you manage your inventory lists so that you can take the right steps to replenish your stock. It helps you view your business holistically and points you to a specific order. The tool supplies your shipping information and status, directly from Amazon.
Smart PO will help you avoid duplicate orders so you always know what has arrived, what is incoming, and what still needs to be ordered. It will ensure clear communication between you, your vendors, and Amazon.
About the Smart PO Management Tool
The Smart PO management tool has a high-level dashboard to help you understand your listing and order status. It may seem obvious, but having a well-organized purchase order system makes it easy to identify what products are coming in at any time, simplifying inventory and shipping management. The replenishment process can be time-consuming and cumbersome. Even with all the invested time and effort, you still find yourself out of stock on the more meaningful items to your catalog. The ability to filter your portfolio and focus on the items that make a difference is a key component for a successful replenishment process.
The Smart PO management tool enables you to filter your catalog in different ways, helping you to:
1. Filter your stock data according to your business needs.
2. Manage all order lists to facilitate your business’s inventory management.
3. Process and manage your listings in seconds.
4. Predict your inventory stock levels based on smart algorithms for variables such as store sales, store profit, forecasted stock level, profit margin, market velocity, and global search.
5. Analyze your listings with crucial data points such as product velocity, sales, profit, profit margin, vendors, brands, estimated days of coverage, current price, and item cost.
With the Smart PO management tool, you will also be able to create your own shipment plan and connect it directly to Amazon Seller Central API, which will allow you to receive immediate feedback from Amazon. It will also allow you to seamlessly update your suppliers with your Amazon shipment plan. The tool provides important details such as supplier confirmation, available quantity, shipping dates, arrival dates, and quantity received. You can easily manage vendor lists by contact, popularity, quality, location, product condition, and labeling.
Replenishment and ordering functionalities can be found in any PO system. Smart PO provides impactful insights on your data so that you can take immediate actions, such as items without sales by stock trend and fulfillment channel, estimated days of coverage, long-term storage management, and inventory health, to name a few.
Having a Smart PO management tool in place can help optimize several facets of your business, particularly organizing your purchase order reports so you can access data easily. The tool identifies future purchase orders, fine-tunes vendor and shipping management to increase your overall profits, and helps you make faster, more impactful business decisions.