Today we’ll be reviewing an Amazon inventory management software, named SoStocked.
This software has been built by 7-8 figure Amazon sellers to address various inventory management challenges that are specific to selling on Amazon.
It features a fully customizable forecasting formula and an inventory management system to take care of all your Amazon inventory management needs. So without further ado, let’s dive in and take a closer look at what SoStocked has to offer.
SoStocked – An Overview of its Features
Before digging deeper into the details, let’s take a quick overview of what SoStocked has to offer in terms of inventory forecasting and management:
- It also allows you to factor in seasonality and sales trends based on your past Amazon sales data or using custom sales spikes/dips, thus giving you accurate forecasts.
- The fully customizable dashboards are really cool as you can reorganize columns, hide columns, filter etc… so you and your team see only your actional data at a glance for tracking, forecasting and inventory levels.
- Gives you reorder alerts well in time, so you never run the risk of running out of inventory.
- Provides excellent features for inventory tracking which allow you to always stay on top of your purchase orders, transfers, and payments.
Who Should Buy SoStocked?
At the agency level (PPC agencies and brand managers) SoStocked makes it useful for teams to manage and collaborate on Amazon inventory and marketing plans. At the seller level, there are a couple of different Amazon business models that benefit the most.
Private Label Sellers
Currently, SoStocked is geared towards the needs of private label sellers. It can really solve the problem of complicated lead times and long-term future order predictions. Moreover, it provides features that Private Label sellers can use to see how their inventory would pair against their marketing strategies, thus preventing them from running into stockouts due to aggressive marketing campaigns.
Furthermore, SoStocked can also solve the issue of IPI limitations as it pulls data directly from Amazon API to calculate an FBA transfer schedule which allows you to stay within your Max Ship Quantity.
Private Labelers with seasonal products can also benefit a lot from the forecasting system of SoStocked which allows you to use last year’s sales data with great ease. With just a few more clicks, you can also add additional trends and growth factors to your past year’s sales data.
SoStocked can really solve the challenge of managing a high number of SKUs for wholesale Amazon sellers. You can review all your forecasts and initiate your purchase orders right from within the software. The fully customizable dashboards for inventory levels, inventory tracking, and forecasting also come in very handy to get 360 view into everything. This helps simplify the chaos and stress of managing so many moving parts.
Who Should Not Buy SoStocked?
We believe that SoStocked is not suitable for sellers who are using the retail arbitrage model. This is because the overall framework of the software is not designed for this particular business model. However, there are sellers who have found workarounds to using it for this purpose, but not on a grander scale.
Moreover, bundlers should also stay away from this software as of now, but we’ve heard that the company is soon going to roll out a new set of features which is going to make SoStocked much more suitable for bundlers as well.
Also, SoStocked currently does not offer forecasting for FBM. So pure FBM sellers should also wait for the company to roll out its FBM forecasting integration.
Finally, if you are looking for an entire Amazon ecommerce marketing suite, then SoStocked is not the right choice for you.
We believe it ramps up quite high in terms of its ease of usability. SoStocked provides you line by line breakdown of all its calculations, making the whole process completely transparent.
The intuitive step by step procedures with instructions available at just a hover of the mouse can make it very easy for anyone to quickly learn and understand the whole process.
You can give multiple level access to different users using the Team Roles and keep an eye on all their actions using the Activity Logs. Just walkthrough the mini-course and you and your team will be all set to get on top of your inventory game.
You can also connect multiple Amazon stores to a single SoStocked account and switch between them with just a few clicks.
SoStocked also provides two simultaneous forecasts for your FBA and 3rd party warehousing, thus simplifying the complexity of the workflows.
In terms of customer support, we’ve found the SoStocked support team to be very responsive to our queries, concerns and feedback.
Their support team really helps during every step of the setup process and after. They make the whole process of transitioning from the spreadsheets to the SoStocked software quite a breeze. They also have personalized training videos that can thoroughly address most of the questions that pop up.
The average response time during the business hours was a little under 2 hours and for off business hours, it was around 7 hours.
Let’s look at the features which set apart SoStocked from its competitors.
- IPI Integration: With IPI Integration, SoStocked pulls data directly from Amazon API to create FBA transfer schedules and quantities in line with the Max Ship Quantity allowed by Amazon IPI, thus preventing you from over-ordering your inventory. We haven’t come across any other inventory management software which offers this particular feature.
- Warehouse Transfers and Tracking: In addition to your FBA stock, SoStocked also creates simultaneous transfers and tracking for your warehouse stock, a feature that is so useful but still absent from many of the renowned inventory tracking tools.
- Fully Customizable Forecasting: With SoStocked, you have the option to add or remove different variables from your forecasting calculations such as deep discounts, sales spikes, stockouts, seasonality, growth trends, and planned sales events such as email sales campaigns and lightning deals.
- Advanced Calculations for Stockouts: SoStocked also incorporates sales patterns into its stockout calculations to determine increases or decreases in your average sales velocity.
- Compatibility with NARF and PAN-EU: SoStocked allows you to combine velocities and inventory levels by grouping your marketplaces by regions, thereby streamlining the calculations for your inventory.
- Forecast Modeling for the Entire Year: With SoStocked, you can visualize your inventory demand for the whole year as it provides forecasting for 12 full months in advance. This is something which we haven’t found in other inventory management solutions.
- Express Shipping Calculation: In addition to forecasting the transfers and orders, SoStocked can also provide a third forecast for predicting Express shipping. This helps in making sure that you never run out of stock, even in emergency situations.
- Creating and Tracking Purchase Orders (POs): Creating purchase orders is just a click away when you are using SoStocked. Once they are created, you can easily track them using the Order Tracker dashboard.
- Splitting Shipments: With SoStocked, you can easily split your shipments on the basis of locations or time with just a few clicks of the mouse.
- Specialized Reporting: SoStocked allows you to develop custom dashboards with features such as grouping, filtering, and column organizing, which greatly promotes its ease of use. Moreover, all the inventory reports are at your fingertips with just a few clicks away.
Although SoStocked is a great inventory management tool that can cover most of your needs, here are a few drawbacks that we found:
- Spreadsheet Export and Bulk Uploading of Purchase Orders: One important feature missing in SoStocked is exporting a spreadsheet of all your data and importing/exporting POs in bulk.
- Automatic FBA Shipment Creation: At the moment, you have to create an FBA shipment yourself in SoStocked. It would have been a great plus point if the software allowed you to create automatic FBA shipments.
- FBM Forecasting and Tracking: SoStocked is great when it comes to FBA. However, it doesn’t have the forecasting and tracking features for products that are shipped from sources other than FBA at the moment.
- Warehouse Receiving: Another limitation that we found in SoStocked is the absence of an efficient system for indicating any defective or missing SKUs received and making adjustments for them on a Purchase Order level.
- Sales Reporting and Cash Flow Projections: Unfortunately, SoStocked doesn’t include profitability and sales reporting, and cash flow projections. However, we have heard from SoStocked officials that they are going to roll out these features very soon.
Honestly, they should be charging 2 to 3 times more for this software. If you sign up for SoStocked now, you’ll be enrolled in the Early Adopter Program which will cost you just $59/month, no matter the number of orders or SKUs you bring in.
Therefore, we recommend you get your hands early on this amazing software before the company decides to close their Early Adopter Program and roll out the tiered pricing structure. The tiered pricing (based on orders/SKUS) will start at $97/month and will go all the way up to $397/month.
As of now, SoStocked doesn’t provide any free trial because of the early adopter program. The company has announced that they’ll start providing free trials after rolling out their tiered pricing structure.
There is no doubt that managing and forecasting Amazon inventory can be a huge burden, especially as you scale up your business. Therefore, automating it and getting it done correctly right from the beginning can save you a lot of hassle in the long run.
We believe SoStocked has all the right Amazon inventory management and tracking features when it comes to selling on Amazon. The software can account for factors like seasonality, sale spikes, product discounting, growth trends, and much more. If you're tired of emergency restock orders and making Inventory management a full-time job, we highly recommend you give SoStocked a try.