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Stitch Labs: A Quick Look
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What Is Stitch Labs?
Founded by Brandon Levey, Jake Gasaway, and Michelle Laham in 2011, Stitch Labs is a leading cloud-based multichannel inventory management software solution for high-growth brands and retailers. Stitch was designed to answer all the operational demands of a multichannel retail business by providing automation, centralized inventory management, and in-depth analytics. Currently one of the fastest growing inventory and order management platforms in the market today, they process 26 million orders and generates $4.5 billion in merchant transactional revenue per year.
Let’s Talk Features
Inventory Management Software
- Centralized inventory promotes visibility across all sales channels and locations
- Access to inventory data such as stock history, stock-takes and reconciliation reports
- Ease of adding new channels and locations without compromising visibility.
- Allocation of inventory to specific channels and VIP customers
- Automated low stock alerts and automated calculation of reorder points for effective implementation of a just-in-time inventory system
- Access to historical sales reports and real-time inventory data
Inventory Control System
- Automation of inventory management-related tasks
- Real-time view of stock levels and inventory performance across all sales channels and locations
- Real-time inventory sync (from all your locations) to prevent overselling
- Inventory and order management capabilities allows leveraging of bundles, mystery boxes, pre-orders, loyalty programs and other merchandising techniques
Multichannel Selling
- Full control of all sales channels
- Real time stock updates
- Over a dozen integrations; add channels with ease
- Sales channel analytics – compare performance of sales channels
- Auto-sync inventory
- Low Stock alerts to prevent stockouts
- Sell across locations
Order Management Software
- Automation of order management tasks (order splitting, backorder management, order import, shipping updates)
- Streamline workflows
- Robust inventory management
- Capacity to handle high volume sales (over 25k orders a day)
- Support for up to 100k SKUs
- Streamlined customer service
- Wholesale/B2B order planning
- Customer targeting and engagement by viewing their account history, inventory analytics, repeat purchase rates, etc.
Logistics and Fulfillment Operations Management
- Workflow automation (splitting, routing, order releasing, etc.)
- One centralized platform to oversee fulfillment
- Set order routing rules to control when and how orders ship
- Accountability tools for 3PLs
- Pre-built integrations and 3PL partner network for shipping coverage expansions
- Pre-sell with ease as order management will hold orders until stock is available
Purchasing Software
- Purchase planning based on sales velocity, lead time and present stock levels
- Streamlined receiving of inventory
- Easy creation of purchase orders
- Centralizes purchases, and sharing of purchasing data to accounting, sales channels and vendors
- Management of End to End Purchasing
- Financial reporting to track cost fluctuations
- Customizable low stock alerts and dynamic reorder points
- Product reporting for data-driven purchasing
Wholesale Inventory Management Software
- Unified, real-time view of stock levels and inventory performance across channels and locations
- Automation of time- consuming tasks
- Allocation of inventory to specific channels and VIP customer accounts
- Tracking of wholesale orders
- Sales representative management (performance tracking, commission payouts, etc.)
- Invoice Management
- Inventory Performance tracking and reporting for smart merchandising and demand forecasting
Retail Reporting and Analytics
- Detailed retail reports with inventory, sales and purchasing data
- Comprehensive multichannel inventory management, retail and product reporting gives access to actionable data on cost, revenue and profitability
- Access to historical data
- Balance sheet provides insight on true inventory value
- Charts and graphical dashboard enable easier sharing of insights
What We Love about It – The Pros
Its Low Learning Curve
It’s very easy to learn how to use Stitch. The interface is simple and intuitive, and even first-time users will be able to do basic tasks like (creating products and customer contacts, generating sales orders, etc.) within minutes of signing in to the platform. We just love how easy and quick it is to set up integrations and link different sales channels and add-ons to your account. All you need to do is provide the info for your third-party account and Stitch does all the heavy lifting.
Also, learning how to do different tasks is very easy because each page comes with an in-depth tutorial that walks you through each step, and the interface features pop-up menus for access to the knowledgebase and support in case you need assistance.
Its Multiple Integrations
While there are users who have complained about Stitch being “too integrations dependent,” we absolutely love that it’s compatible with a large variety of integrations (over 100 to be exact!). Stitch integrates with the most popular sales tools and ecommerce platforms, and this allows you to build your own unique tech stack that can make your business run efficiently.
Streamlined Inventory Management
Stitch is a centralized platform that allows you to manage your inventory and automate workflows from one location. From the dashboard, you can manage all of your sales channels, update your listings, run promotions, sync stock levels across all sales channels, warehouses, and fulfillment centers, and customize and implement time and cost-saving order routing strategies. Being able to do all of this in one location not only improves efficiency but also saves you valuable time, energy, and money.
Automated Purchase Order Creation
This is a powerful feature, and we love it because it saves time and increases your cash on hand. Stitch automates the calculation of reorder points and creates drafts of purchase orders. This calculation is based on real-time data on sales velocity, supplier lead time, and par levels. Once you receive a low stock alert, the purchase order is then sent out. This makes ordering faster and more accurate, and become more liquid because you have less cash tied to stock.
The Comprehensive Analytics Dashboard
Stitch’s analytics dashboard is awesome and gives you a clear, data-driven overview of your business’ performance. From this dashboard, you can view sales, revenue, and inventory stats, sales velocity and forecasting reports and sales channel-specific reports. You also have the ability to filter data using customization variables. It gives you all the data you need to formulate sales and inventory management strategies to increase revenue and profits.
What We’re Not Crazy About – The Cons
Stitch Labs Pricing
Software systems that provide exceptionally sophisticated services often carry a hefty price tag and Stitch Labs is no exception. In fact, it’s probably the most expensive multichannel inventory management software solution in the market today.
While they don’t display their prices on their pricing page (interested parties must request a price quote), they do make it clear who their target clientele is (“Stitch Labs is best suited for brands trading $1M or above, or transacting over 25k orders per year.”). So this should already give you an idea on the price range of their plans. Also, before they removed their prices, we received reports that their entry level “Essentials” plan was priced at $799, which definitely puts this out of the price range of smaller multichannel sellers.
Another thing to take note of is that implementation training is not included in the monthly fee, so you’ll have to pay for an onboarding session.
Limited Functionality for Sellers Outside the US
Stitch was designed to cater to businesses which operate and sell in the US. If you are based outside the US, Stitch may still work for you, but you should know that you will have to deal with limited functionality. For instance, Stitch does not support sales order currency conversion, inclusive taxation, international eBay seller accounts, country-specific invoice formatting requirements, etc. Read this article from Stitch Lab’s support base if you are outside the US and considering getting Stitch.
Refunds Management
For some reason, Stitch does not account for refunds made through sales channels and does not automatically adjust inventory and accounting data. Users must make manual adjustments to inventory and accounting records whenever there is a refund. The process of making manual adjustments can be cumbersome and prone to errors.
No Mobile App
Stitch has no mobile app and does not support mobile browsers.
Our Final Take: Should You Get Stitch Labs?
Please read before proceeding:
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If you are a small multichannel seller who is just starting out, the answer is NO. Stitch is simply beyond your budget and way too complicated for you. If you are looking for a similar solution, we strongly recommend that you get Ecomdash. Ecomdash offers a similar level of functionality at a price that is more affordable to smaller business owners. If you want to learn more about Ecomdash, read our full review here.
However, if you are a medium-sized multichannel seller who is experiencing a period of rapid growth in your business, and can afford Stitch Labs, the answer is YES. You stand to benefit a lot from their centralized platform which can automate your inventory and retail operations.
In multichannel retailing, one of the most important inventory management strategies to implement is the Just-In-Time inventory system. For the uninitiated, Just-In-Time inventory is a system in which you forecast demand and keep just enough inventory to meet that demand. This system allows you to be more liquid and having more cash on hand gives you access to investing opportunities that can grow your business further. Moreover, this system significantly reduces your storage costs and lowers your loss risk.
The key to implementing this system effectively is accurate demand forecasting, and this is where Stitch shows its tremendous value. Accurate demand forecasting requires the efficient tracking of sales data and Stitch provides you with a highly informative sales velocity report that allows you to understand how fast your products are selling. Moreover, it gives you insight on demand fluctuations and seasonal trends which will help you order the right amount of product at the right time.
If you’d like to see how Stitch Lab’s centralized inventory management dashboard can help you implement a Just-In-Time inventory system for your business, get in touch with their team, and request a free trial. Stitch Lab’s streamlined approach to inventory management might just be what you are looking for.
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