How Magento Inventory Management Works For eCommerce Websites

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3. How Magento Inventory Management Works For eCommerce Websites? • The paradigm of work culture, technology, online shopping has been shifted following technological advancements and the need of the hour. Magento stores have become the leading eCommerce website development platform following the features, Magento SEO friendliness, speed, easy business operations, convenient deployment, Magento Multiple languages store functionality, and modifications that have made this online store development to be the first choice of Certified Magento developers. • What Is Magento Inventory Management?   • To manage the product inventories on your eCommerce site Magento Inventory Management gives you advanced tools to manage them easily and conveniently. These features of Magento Inventory can be useful to merchants with a single store to multiple warehouses, stores, pickup locations, drop shippers, and more. These features of Magento for Inventory management are useful to maintain quantities of sales and handle shipments to complete orders. • Features of Inventory management in Magento make tracking and keeping the records of inventory of products on the website easy. It also enhances the shopping experience of customers with its advanced features. www.vihadigitalcommerce.com

4. You have the following options to assign inventory to products: • 1) Assigning Sources per Product • Assign sources manually per product in the catalog • 2) Assigning Quantities per Product • Add on-hand inventory amounts to products per source • 3) Bulk Assigning Sources • Assign sources to selected products as a mass action • 4) Bulk Unassigning Sources • Unassign sources from selected products as a mass action • 5) Transferring Inventory to Source • Mass transfer all inventory from one source to a destination source • 6) Importing and Exporting Quantities • Use import and export features to update multiple product SKUs with sources and inventory quantities www.vihadigitalcommerce.com

5. Fundamental settings and advantages of Magento Inventory Management • 1) Managing Stock • Regardless of warehouse location, type of product or service, or sales channel you can manage your inventory with Magento inventory management • 2) Source Management • The physical locations where product inventory is managed and shipped for order accomplishment are called sources. Magento leverages the quantities and saleable quantities per stock and manages inventory amounts automatically for managed products and orders • 3) Managing Inventory Quantities  • Single Source Merchants • Single source merchants can update product quantities for the Default Source • Multi-Source Merchants • Multi-source merchants can assign multiple sources and quantities per product for each location • 4) Stocks and Sales Channels • Aggregated inventory of products available for sale to your sales channels is represented visually as stocks. • The saleable quantities and available inventories are mapped with sales channels with each stock. The assignment of stock to one or more sales channels and sources is decided, depending on the website configuration www.vihadigitalcommerce.com

6. 4) Source Selection and Priority Algorithm • While finalizing the source, the Source Selection Algorithm (SSA) uses the priority order of sources configured in stock and analyses and determines the best match for sources and shipping. • You can also set other priorities and algorithms to manage inventory in Magento, there are: • Source Priority Algorithm • Distance Priority Algorithm • Custom Algorithm • 5) Order Management and Reservations • Partial as well as full invoicing, payments, shipping, and cancellations per order are supported by Inventory management. • With Magento inventory management you can automatically enter or change reservations. • It also updates the saleable quantity for a stock and the on-hand inventory quantity per source. • Sometimes you may need to update orders with partial payments and cancellations while managing inventory in Magento, depending on inventory status and customer requests. www.vihadigitalcommerce.com

7. 6) Cancelled/Refunded Orders • In case if a customer cancels an order before shipment whether partial or in full. The saleable quantity gets updated with a new reservation of the inventory amount. • The other advantages of features of Magento inventory management are, • Inventory Configuration • Out of Stock Threshold • Product Quantities • Inventory Expansion and Restructuring • Inventory Migrating and Upgrading • Map To Sources • Priority Order Fulfilment • Sales Channel Support www.vihadigitalcommerce.com

8. Read the complete story follow the link below:- How Magento Inventory Management Works For eCommerce Websites? Read Blog: https://www.vihadigitalcommerce.com/blog/ www.vihadigitalcommerce.com

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