How to manage a stock transfer

Understanding stock transfer is crucial for all businesses, including online and physical stores, or a combination of both. If you have multiple locations running, or need to move stock between locations, then this article is for you.

Stock transfer does not have to be complicated. First, we'll explain stock transfer, potential issues, and effective management techniques. Then we will discuss how to do a stock transfer between multiple locations. And we will explain how our order fulfillment process app, EasyScan, can make the stock inventory process smooth and simple.

What is stock transfer?

On a basic level, transferring stock means moving goods from one part of the distribution chain to another. This forms part of wider warehouse logistics, where we manage and move your stock, and fill and distribute orders.

The purpose of a moving inventory items is to make your storage and order process more efficient. Maximizing storage and capacity is crucial, along with faster order processing to meet high-speed demands.

Stock transfer between multiple locations

Knowing how to manage stock transfer is especially important if you have multiple different locations for your stock. Stock locations can be places such as warehouses, shops, pop-up spots, and trade shows. They are basically where you store and distribute your products from.

Through Shopify, you can manage a number of different locations, from 3 up to 20 (and even more upon special request). Choose the right number of locations for your business and set them up so you can move stock between them easily.

You might be moving stock regularly between different locations, like a shop or pop-up and a warehouse. Alternatively, you might be doing a one-off stock transfer to and from a warehouse to a trade show. Or you could be moving from one distribution warehouse to another as you upscale or relocate your business.

Why use multiple locations?

Multiple locations are becoming more important in the world of retail. You should use all available selling opportunities to benefit your business. Nowadays, there are many places and ways to sell. Being able to sell, and therefore stock transfer, between multiple locations can increase shop visibility, customers, sales, and therefore profits.

How to manage stock transfer between multiple locations

If you have multiple locations, knowing how to manage stock transfer can simplify your distribution process. Our order fulfillment software, EasyScan can help with this.

Avoid potential issues during the stock transfer process

Inventory transfer can cause issues. Recently, Shopify has made it possible to set different sales locations to help manage stock effectively. However, you might run into some problems.

Without knowing your inventory well, it can be difficult to keep tabs on product locations across different places. This hinders order fulfillment, as orders might be sent to the wrong stock location. It can also cause confusion and delays when moving stock between different locations. If you don’t know what stock is moving where, how can you effectively fulfill your orders?

Furthermore, the process of moving goods can be overwhelming for a small business or a large one. This is especially the case if you’re new to the process. Inconsistencies in the process, logistics, and human error can hinder an efficient transfer. If you also move regularly between multiple locations, you can lose, misplace, or mix up stock.

Use EasyScan for your inventory transfer

EasyScan, as an order processing software, makes the process of stock transfer and managing inventory across locations much more straightforward. Using our simple barcode creation, printing, and scanning system, you can label all of your products. You are then able to track your inventory in the app, knowing exactly what stock you have in each stock location. Through Shopify, you can then choose the location where orders are fulfilled.

When scanning in new inventory or updating existing inventory with EasyScan, you can pick which location you are working from. If you only have one, this is pre-selected for you.

If you have multiple, they will appear for you to choose from. If you’re setting up a new location, you can pick this once created in Shopify, and transfer inventory into it. Checkout our simple guide on how to update inventory to get started.

Check inventory levels with EasyScan

You are able to check inventory levels at different locations with EasyScan before, during, or after stock transfer. Scan barcodes on products, compare to EasyScan's inventory report. Print a report to see your stock levels and know what you have in each location or what you have moved.

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Now that you have learnt how to manage your stock transfer like a pro, check our Shopify Store and try our inventory management app for free!

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