Managing fractional inventory in Shopify requires a bit of planning and organization, but it is an important aspect of running a successful ecommerce store. Here is an order of steps you can take to manage fractional inventory effectively in Shopify:
- Define fractional inventory
The first step in managing fractional inventory is to define what it means for your store. Fractional inventory refers to items that are sold in quantities that are less than a whole unit. For example, if you sell fabric by the yard, fractional inventory would refer to fractions of a yard, such as 0.5 yards or 0.25 yards.
- Set up product variants
Once you have defined fractional inventory, the next step is to set up product variants in Shopify. Product variants allow you to offer different options for a product, such as size or color. For fractional inventory, you can set up variants for different quantities, such as 0.25 yards or 0.5 yards.
- Determine your inventory levels
Before you can effectively manage fractional inventory, you need to determine your inventory levels. This means taking stock of how much of each product variant you have on hand. You can use Shopify's inventory management tools to track your inventory levels and set up alerts for when you are running low on a particular variant.
- Set pricing for fractional inventory
One of the challenges of managing fractional inventory is determining pricing. You need to determine how much to charge for a fraction of a unit. For example, if you sell fabric for $10 per yard, how much do you charge for 0.5 yards? There are a few different approaches you can take to pricing fractional inventory, including rounding up or down, or charging a percentage of the full unit price.
- Communicate clearly with customers
When you sell fractional inventory, it's important to communicate clearly with customers. This means making it clear on your website that you offer fractional quantities and explaining how pricing works. You may also want to include a note on your product pages that explains how much fabric is included in each fractional quantity.
- Train your staff
If you have staff who manage your inventory or process orders, it's important to train them on how to manage fractional inventory effectively. This means ensuring they understand how product variants work, how to determine inventory levels, and how to set pricing for fractional quantities.
In conclusion, managing fractional inventory in Shopify requires careful planning and organization. By defining fractional inventory, setting up product variants, determining inventory levels, setting pricing, communicating clearly with customers, and training your staff, you can effectively manage fractional inventory and ensure your ecommerce store runs smoothly.