The key to an effective business is Inventory Management. A business can benefit from effective inventory management in several ways and can bring strategic value to the entire business process. Proper Inventory Management Plugins have many advantages, some of which include inventory balance, precise planning, warehouse organization, and employee productivity. Small firms should adopt the best inventory management practices as it has been demonstrated to deliver outstanding results.
There are a few extensions available for WooCommerce-powered online stores that deal with inventory management. WP Global Support is the ideal option for you if you’ve looked into Word Press Support Service and want to learn more and obtain support for Word Press. Owners of online stores using WooCommerce will find this post to be very helpful as we will review some of the top inventory management plugins for WooCommerce.
How to Update Your Inventory
By enabling the proper settings, WooCommerce will automatically subtract inventory from your products when you sell them.
Turning on Enable stock management in WooCommerce > Settings > Product > Inventory will enable this. Then, on the Edit pages for each product, you can set the stock level and enable stock management at the product level. Every time you make a sale, WooCommerce will deduct from this amount, and it will also automatically set your products too low or out of stock as necessary.
Every time you receive a shipment, you will regretfully need to go through and manually adjust the numbers. Stocks can only be increased down by WooCommerce; not up. The original tool lacks such capabilities, however, add-ons can simply fix this.
Managing Stock Status
How about modifying the stock status? There are two options: on a per-product basis and globally.
You can modify the low and out-of-stock thresholds, whether out-of-stock goods appear in the store, and how stock status is displayed in your store on the WooCommerce > Settings > Product > Inventory page.
You can establish a personal low stock threshold and check your inventory levels on the Edit screen for any product. If you have the Enable stock management at product level setting checked, WooCommerce will handle this.
The only thing you can change if the global Enable stock management setting is off is whether or not a product is in stock; WooCommerce won’t take care of it for you.
For variable items, you can also alter the stock status of variations. You can modify the stock quantity, status, and low stock threshold for each variation after you’ve set them up by going to each one on the Variations tab.
Other WooCommerce Stock Management Tools
Other essential stock management options provided by WooCommerce include the following:
Although there are built-in bulk editing options, manually turning on goods’ stock management or updating stock status can take longer. Click the checkboxes to pick various products on the Products > All Products page, or click the top checkbox to like every product. Click Apply after changing the Bulk actions dropdown to Edit.
You can select Manage Stock from the dropdown menu that appears in the bulk editing menu. When changing it to Yes, individual stock management will now be enabled for all of your products. Once enabled, you can make bulk changes to the Stock qty parameter, changing it to a specific value or increasing or decreasing it by a specific percentage.
Low Inventory Threshold
The low stock threshold can be specified in one of two places:
You can alter it globally in WooCommerce > Settings > Product > Inventory. Additionally, you may decide who receives an email when a product exceeds this barrier and if stock numbers are displayed to customers at low stock levels.
You can access the Inventory tab for a specific product by going to its Edit screen and scrolling down. Change the Low stock threshold after making sure Manage stock is selected.
Go to the Inventory screen on a product’s Edit page if you just wish to sell one item at a time. Check the Individually sold box to enable it. It is not necessary to enable stock management at the product level to accomplish this.
This parameter is also accessible using the bulk editor.
How to View Reports on Stock Status
WooCommerce comes with a tonne of statistics and insights that may be utilized to better monitor your stock levels.
Look for the Analytics > Stock page, which provides a summary of the number of units and the status of the inventory. To sort by these criteria, select Product/Variation, SKU, Status, or Stock. Click again to sort the results in the opposite direction.
You can limit it to only products with a specific stock status by using the Show menu. For instance, you can instantly identify which products back ordered or out of stock.
Choosing a product category
WooCommerce by default offers four different product kinds.
- Simple Products are the most fundamental sort of WooCommerce product, as their name suggests. This is a single, shippable product without any special groupings or variations.
- Variable products – Similar in purpose to straightforward products, but with unique variants like color or size. Although they are all grouped under a single parent product, each of these variations is effectively its product with its stock number and SKU.
- Grouped products – These are goods of any other kind that are offered as a collection or bundle. Because this bundle consists of individual products that can be purchased, if you run out of stock, the bundle will no longer be available. WooCommerce’s capabilities make it easy to keep track of such things. This also differs from cross-sells and upsells.
- Affiliate and external products You profit from these things by taking a commission, yet a portion of the sale goes to someone else. Additionally, they typically marketed on a specific website.