As an eCommerce business owner, tracking inventory performance is crucial to the success of your business. Without proper inventory management and tracking, you run the risk of overselling or even running out of stock, which can lead to customer dissatisfaction and lost sales.

Fortunately, Shopify Plus offers a variety of reports and tools to help you track your inventory performance effectively. In this blog article, we’ll discuss how you can use these reports to accurately monitor your inventory and make data-driven decisions to improve your business.

First of all, Shopify Plus offers a comprehensive dashboard that gives you a quick overview of your inventory performance. This includes total sales, average order value, and best-selling products so you can quickly get a picture of your business. You can also filter this information by date range to track your progress over time.

One of the most valuable reports available in Shopify Plus is the inventory report. This report shows the quantity of each product you have in stock, as well as its cost and retail value. You can also see how much stock you have, how much you have assigned to orders, and how much is available for sale. This report is particularly useful in making stock replenishment decisions and identifying products that may be over- or under-stocked.

Another useful report is the Sales and Inventory by Product report. This report compares the number of units sold of each product against your available inventory, helping you identify your best-selling products and those that may be experiencing issues. It also shows sales and inventory levels over a given period, giving insight into product performance over time.

Shopify Plus also offers an Inventory Age Report, which tracks the age of your inventory and shows how long it has been in stock. This report helps identify slow-moving products that may require additional marketing efforts or discounts to move inventory. In addition to these reports, Shopify Plus allows you to set up low stock alerts, which alert you when your stock levels are low. This feature is essential to prevent overselling and to ensure that you always have enough inventory to fulfill your orders.

In short, by using Shopify Plus’s various reports and tools, you can effectively track your inventory performance and make informed decisions to improve your business. With access to real-time data, you can identify trends, adjust inventory, and ultimately increase sales and customer satisfaction. Control your inventory performance with Shopify Plus and watch your business grow.