Free «Managing Suppliers, Inventory and Quality» Essay Sample
Inventory by definition is assets intended for sale, transformation process or use as producer goods. For many businesses, inventory is a representation of a large portion of assets that constitutes a vital part of the balance sheet. At eBay, inventory management is conducted by means of online softwares (Sinclair 1999). Sellers have a variety of platforms to choose from for effective online inventory management. In fact, eBay employs around thirteen tools to manage their inventory effectively.
The first tool is AuctionBlox eMarketConnect. The tool allows access to eBay from the seller’s online store. It helps the seller to list their merchandise on eBay. It also allows the seller to check their store. The second tool is AuctionSound, and this software helps traders manage consignment and online inventory. The tool provides vital features for image hosting, consignor-management reporting tools and eBay templates. The third tool is the BigCommerce platform. The features akin to this platform include multi-channel retailing, search engine optimization and easy upselling. The fourth software is ChannelMAX. The inventory-management service allows a user to create a web store and list their merchandise on various marketplaces online (Kappauf, Lauterbach & Koch 2012).
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The fifth platform is the DesignCart, which is an online shopping cart for a small business that wants to sell their merchandise online. In fact, this program is an eBay compatible and allows a user to list and complete payments for eBay auctions. Thus, the users of this platform get an opportunity to manage all online inventory, orders and marketplace listings from one place. The sixth platform is the Kosmos Central that is integration software for eBay e-commerce. The software allows the users to upload the merchandise from their online stores to the users’ eBay accounts. The platform number seven used in the eBay is the Merchantec E-Commerce Express. It provides an entry-level cart service and storefront (Solga 2013). Talking about other tools, they include Infopia, ProStores, Solid Commerce, Techwave Free Shopping Cart, T-Hub for QuickBooks and Vendio eBay Listing software.
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The inventory management approaches used at eBay produce the desired results in terms of time, cost, efficiency and usability (Antal 2010). First, most of these softwares do not require specialized training in coding or database administration. Apparently, these tools are built to promote the user’s independence in controlling various aspects of inventory management. The tools only require the user to have a basic level IT training. Secondly, these tools are relatively cheap as compared to the conventional approach of employing professionals. Moreover, the monthly subscription fees can be drastically reduced by employing only the relevant tools and optimizing their use. As compared to the realm of the services provided by these tools and its coverage, the tools weigh favorably against the traditional methods of inventory management. Thirdly, the tools are highly efficient since they provide a worldwide operation at the click of a button. The users of these online platforms have full control of their inventory in a timely and cost-effective manner, allowing numerous transactions to take place (Muller 2003). Some platforms even provide integrative services to link the users to other aids to trade. For example, T-HUB for QuickBooks integrates eBay with QuickBooks to manage the orders.
In conclusion, effective inventory management provides a means of tracking assets in business. In addition, it provides a means to maintain the business continuity effectively. EBay, being a virtual market-place, supports inventory management by allowing the sellers to explore a variety of tools. Thus, the sellers can access platforms built by both eBay and any other company. These tools provide a vast number of benefits to the users, including low cost, ease of use, realm of coverage, integration with other aids to trade and security.