If you are running an eCommerce store on Magento 2, you must keep track of your product inventory. Mismanagement of inventory can lead to overselling, stockouts, or excess stock, all of which can affect your business negatively. Therefore, it is essential to configure the product inventory in Magento 2 correctly. This article will guide you through the process of configuring product inventory in Magento 2.
Table of Contents
Step 1: Activate Inventory Management
The first step in configuring product inventory in Magento 2 is to activate the inventory management system. This feature is available in the Magento 2.3 version. To activate inventory management, navigate to the stores’ configuration settings and select ‘Inventory’ under the ‘Catalog’ option. Choose Yes to activate the inventory management system.
Step 2: Assign Stock to Products
Once the inventory system is activated, you can begin to assign stock to your products. To accomplish this task, navigate to the product information page and select the ‘Advanced Inventory’ tab. Here, you can set the stock that is available for each product. You can also set the threshold that triggers a notification when the stock is low.
Step 3: Set Stock Options
Under the ‘Advanced Inventory’ tab, you will find several options that allow you to customize your inventory management settings. Firstly, you can set your stock status preference. This setting determines how your products appear on the frontend when the stock is out, such as ‘In Stock’, ‘Out of Stock’, etc.
Secondly, you can set the ‘Maximum Qty Allowed in Shopping Cart’ option. This option enables you to limit the amount of stock that customers can purchase at a time. You can also set the minimum quantity of products that must be purchased.
Thirdly, you can set the ‘Backorders’ option. Backorders enable customers to purchase out-of-stock items and get them delivered when the stock becomes available. You can also set a notification system that informs customers when the products are restocked.
Fourthly, you can set the ‘Notify for Quantity Below’ option. This option sends an email to the admin when the stock reaches a certain level. The admin can then restock the items before it gets out of stock.
Step 4: Set Multi-Source Inventory
Multi-source inventory is an advanced inventory management system that allows managing stock based on different sources and locations. Multi-source inventory can be set up in Magento 2 extension. You can set up your sources and assign stocks to your products based on the sources. Multi-source inventory enables you to manage your products’ inventory efficiently in different locations.
Step 5: Import/Export Inventory
Magento 2 allows you to import and export your inventory data using the CSV file format. You can use this feature to import a large number of products and their corresponding inventory data faster instead of manually doing it one by one. You can also export your inventory data to another system or for backup purposes.
Conclusion
Configuring product inventory in Magento 2 is crucial for any eCommerce store. By following the steps outlined in this article, you can manage your inventory efficiently, ensuring that your customers never encounter a stockout. You can assign stock to your products, set options for stock management, set multi-source inventory, and import/export data. A well-configured inventory system can help you increase sales and maintain a good reputation among your customers.