As your ecommerce business scales, the need for a robust inventory management system becomes increasingly apparent. Managing your inventory is crucial, not just operationally but also from an accounting standpoint. Cost of Goods Sold (COGS) is often one of your largest investments, so having an effective management process is key.
You might wonder, "Why do I need both A2X and an Inventory Management System (IMS)?" Many IMS options focus mainly on tracking inventory movement by capturing sales data per order or unit. While this is great for managing inventory values in your accounting system, it leaves out many other essential accounting details like fees, charges, shipping, and taxes that make up your Amazon or Shopify deposits.
Think of A2X as exceptional for accounting with basic COGS features, and Cin7 as exceptional for inventory management with basic accounting features. A2X ensures you have an accurate breakdown of transactions and accounts for all types of transactions, while Cin7 provides accurate costing, landed cost management and stock control with warehouse management.
If you've reached a point where your business requires excellence in both accounting and inventory management, this article will guide you on how to use these two indispensable tools side by side.
A2X Settings
Within A2X, you won't need to upload your costs anymore. If you were previously using the COGS feature, simply disable it in your settings.
Cin7core Settings
A2X will take care of the accounting for all your ecommerce sales channels which will cover the sales, refunds, shipping, credits, selling fees and charges, fulfillment fees and charges, reimbursements, reserves and more. Cin7 Core will take care of your inventory movements, inventory adjustments and overall inventory totals.
So that A2X can manage the sales channel overall accounting and Cin7 Core can manage the Inventory accounting, you will need to deselect the relevant sales channels in Cin7 settings. This will save any duplication of sales.
Is Cin7 the right inventory solution for you?
Cin7's ecommerce solution is designed to cater to a diverse range of businesses, including but not limited to:
- Retailers: Brick-and-mortar stores, online sellers, and multichannel retailers looking to streamline their inventory management processes.
- Wholesalers & Distributors: Businesses dealing with bulk orders and managing complex supply chains, seeking a central inventory system.
- Manufacturers: Companies engaged in manufacturing processes, aiming to synchronize production and inventory levels seamlessly.
When is the best time to implement Cin7?
The ideal time to implement Cin7 largely depends on your business's unique circumstances. However, some common scenarios for successful implementations are:
- When experiencing significant growth: Cin7 helps scale operations efficiently, managing increased inventory and order volumes.
- Prior to peak seasons: Implementing Cin7 before high-demand periods ensures smooth operations and avoids potential stockouts.
- During process optimization: Businesses looking to improve inventory visibility, accuracy, and automate workflows benefit from Cin7's implementation.
What are the key functions & benefits of Cin7?
Cin7 offers a comprehensive set of functions and benefits, including:
- Centralized Inventory Management: Real-time visibility across all sales channels and locations, enabling better stock control.
- Order & Sales Management: Streamlining order processing, managing sales orders, and automating workflows for faster fulfillment.
- B2B & B2C Ecommerce: Seamless integration with various ecommerce platforms, enabling efficient online selling.
- Manufacturing & Production: Effective management of production processes, reducing lead times, and minimizing stockouts.
- Reporting & Analytics: In-depth insights into inventory performance, sales trends, and financial metrics for informed decision-making.