<description>&lt;p&gt;In this episode of the Ecommerce Finance Podcast, Stephen Brown and Scott Scharf discuss the critical aspects of selecting and implementing an inventory management system for ecommerce businesses. They explore the importance of inventory management as a key asset, the methodology for selecting the right system, and the expectations for implementation timelines. &lt;/p&gt;&lt;p&gt;The conversation also covers when to consider an inventory management system, the differences between ERPs and inventory management systems, and the necessity of documenting processes for successful implementation. &lt;/p&gt;&lt;p&gt; &lt;/p&gt;&lt;p&gt;&lt;strong&gt;Takeaways&lt;/strong&gt; &lt;/p&gt;&lt;ul&gt;&lt;li&gt;Inventory is often the biggest asset in consumer product businesses. &lt;/li&gt;&lt;/ul&gt;&lt;ul&gt;&lt;li&gt;Many entrepreneurs struggle with inventory management due to reliance on spreadsheets. &lt;/li&gt;&lt;/ul&gt;&lt;ul&gt;&lt;li&gt;Selecting an inventory management system requires a clear understanding of business needs. &lt;/li&gt;&lt;/ul&gt;&lt;ul&gt;&lt;li&gt;Demos should focus on specific processes relevant to the business. &lt;/li&gt;&lt;/ul&gt;&lt;ul&gt;&lt;li&gt;Implementation of inventory systems often requires external expertise. &lt;/li&gt;&lt;/ul&gt;&lt;ul&gt;&lt;li&gt;Budgeting for implementation costs is crucial for success. &lt;/li&gt;&lt;/ul&gt;&lt;ul&gt;&lt;li&gt;Hiring an operations manager can significantly improve system adoption. &lt;/li&gt;&lt;/ul&gt;&lt;ul&gt;&lt;li&gt;Pain points in inventory management often indicate the need for a new system. &lt;/li&gt;&lt;/ul&gt;&lt;ul&gt;&lt;li&gt;Trusting but verifying your 3PL is essential for accurate inventory tracking. &lt;/li&gt;&lt;/ul&gt;&lt;ul&gt;&lt;li&gt;Documenting processes ensures consistency and efficiency in operations. &lt;/li&gt;&lt;/ul&gt;&lt;p&gt; &lt;/p&gt;&lt;p&gt;&lt;strong&gt;Sound Bites&lt;/strong&gt; &lt;/p&gt;&lt;p&gt;"Trust but verify your 3PL." &lt;/p&gt;&lt;p&gt;"Hire someone to help you with this." &lt;/p&gt;&lt;p&gt; &lt;/p&gt;&lt;p&gt;&lt;strong&gt;Chapters&lt;/strong&gt; &lt;/p&gt;&lt;p&gt;00:00 Introduction to Inventory Management Systems &lt;/p&gt;&lt;p&gt;03:16 Challenges in Inventory Management &lt;/p&gt;&lt;p&gt;06:25 The Importance of Comprehensive Processes &lt;/p&gt;&lt;p&gt;09:23 Selecting the Right Inventory Management System &lt;/p&gt;&lt;p&gt;12:37 Methodology for Choosing an Inventory System &lt;/p&gt;&lt;p&gt;18:27 Implementation Expectations and Budgeting &lt;/p&gt;&lt;p&gt;25:56 Implementation Timeline and Feedback Mechanisms &lt;/p&gt;&lt;p&gt;31:52 The Role of Operations Management in E-commerce &lt;/p&gt;&lt;p&gt;37:15 Inventory Management Systems vs. 3PLs &lt;/p&gt;&lt;p&gt;39:01 Evaluating ERP Systems for E-commerce &lt;/p&gt;&lt;p&gt;47:41 Documenting Processes for Successful Implementation &lt;/p&gt;&lt;p&gt; &lt;/p&gt;&lt;p&gt;&lt;strong&gt;Guest Info&lt;/strong&gt;&lt;/p&gt;&lt;ul&gt;&lt;li&gt;Scott Scharf &lt;/li&gt;&lt;li&gt;&lt;a target="_blank" rel="noopener noreferrer nofollow" href="mailto:Scott@scharftech.com"&gt;Scott@scharftech.com&lt;/a&gt; &lt;/li&gt;&lt;li&gt;&lt;a target="_blank" rel="noopener noreferrer nofollow" href="https://www.linkedin.com/in/scottscharfcc/"&gt;https://www.linkedin.com/in/scottscharfcc/&lt;/a&gt; &lt;/li&gt;&lt;/ul&gt;&lt;p&gt; &lt;/p&gt;&lt;p&gt;&lt;strong&gt;Work with Us&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;Struggling to make sense of your ecommerce financials? &lt;a target="_blank" rel="noopener noreferrer nofollow" href="https://ledgergurus.com/ecommerce-accounting-services/?utm_source=RSS&amp;amp;utm_medium=podcast&amp;amp;utm_campaign=e10"&gt;&lt;strong&gt;Let LedgerGurus handle your accounting&lt;/strong&gt;&lt;/a&gt; so you can focus on growth.&lt;/p&gt;&lt;p&gt;&lt;/p&gt;&lt;p&gt;Take control of your inventory accounting and unlock real profitability with our &lt;a target="_blank" rel="noopener noreferrer nofollow" href="https://ledgergurus.com/ecommerce-accounting-services/inventory-consulting-for-ecommerce/?utm_source=RSS&amp;amp;utm_medium=podcast&amp;amp;utm_campaign=e10"&gt;&lt;strong&gt;inventory consulting services&lt;/strong&gt;&lt;/a&gt;.&lt;/p&gt;</description>

Ecommerce Finance Podcast

Stephen Brown | LedgerGurus

E10: How to Choose the Right IMS for Your Ecommerce Business

MAR 5, 202551 MIN
Ecommerce Finance Podcast

E10: How to Choose the Right IMS for Your Ecommerce Business

MAR 5, 202551 MIN

Description

<p>In this episode of the Ecommerce Finance Podcast, Stephen Brown and Scott Scharf discuss the critical aspects of selecting and implementing an inventory management system for ecommerce businesses. They explore the importance of inventory management as a key asset, the methodology for selecting the right system, and the expectations for implementation timelines. </p><p>The conversation also covers when to consider an inventory management system, the differences between ERPs and inventory management systems, and the necessity of documenting processes for successful implementation. </p><p> </p><p><strong>Takeaways</strong> </p><ul><li>Inventory is often the biggest asset in consumer product businesses. </li></ul><ul><li>Many entrepreneurs struggle with inventory management due to reliance on spreadsheets. </li></ul><ul><li>Selecting an inventory management system requires a clear understanding of business needs. </li></ul><ul><li>Demos should focus on specific processes relevant to the business. </li></ul><ul><li>Implementation of inventory systems often requires external expertise. </li></ul><ul><li>Budgeting for implementation costs is crucial for success. </li></ul><ul><li>Hiring an operations manager can significantly improve system adoption. </li></ul><ul><li>Pain points in inventory management often indicate the need for a new system. </li></ul><ul><li>Trusting but verifying your 3PL is essential for accurate inventory tracking. </li></ul><ul><li>Documenting processes ensures consistency and efficiency in operations. </li></ul><p> </p><p><strong>Sound Bites</strong> </p><p>"Trust but verify your 3PL." </p><p>"Hire someone to help you with this." </p><p> </p><p><strong>Chapters</strong> </p><p>00:00 Introduction to Inventory Management Systems </p><p>03:16 Challenges in Inventory Management </p><p>06:25 The Importance of Comprehensive Processes </p><p>09:23 Selecting the Right Inventory Management System </p><p>12:37 Methodology for Choosing an Inventory System </p><p>18:27 Implementation Expectations and Budgeting </p><p>25:56 Implementation Timeline and Feedback Mechanisms </p><p>31:52 The Role of Operations Management in E-commerce </p><p>37:15 Inventory Management Systems vs. 3PLs </p><p>39:01 Evaluating ERP Systems for E-commerce </p><p>47:41 Documenting Processes for Successful Implementation </p><p> </p><p><strong>Guest Info</strong></p><ul><li>Scott Scharf </li><li><a target="_blank" rel="noopener noreferrer nofollow" href="mailto:[email protected]">[email protected]</a> </li><li><a target="_blank" rel="noopener noreferrer nofollow" href="https://www.linkedin.com/in/scottscharfcc/">https://www.linkedin.com/in/scottscharfcc/</a> </li></ul><p> </p><p><strong>Work with Us</strong></p><p>Struggling to make sense of your ecommerce financials? <a target="_blank" rel="noopener noreferrer nofollow" href="https://ledgergurus.com/ecommerce-accounting-services/?utm_source=RSS&amp;utm_medium=podcast&amp;utm_campaign=e10"><strong>Let LedgerGurus handle your accounting</strong></a> so you can focus on growth.</p><p></p><p>Take control of your inventory accounting and unlock real profitability with our <a target="_blank" rel="noopener noreferrer nofollow" href="https://ledgergurus.com/ecommerce-accounting-services/inventory-consulting-for-ecommerce/?utm_source=RSS&amp;utm_medium=podcast&amp;utm_campaign=e10"><strong>inventory consulting services</strong></a>.</p>