Having difficulties to know which product need to restock? Facing customer complains for late delivery due to out of stock?
Inventory Forecasting is here to help you get rid of all the worries. It estimates the stock that can last based on your current stocks and the sales performances. Hence, you are able to restock your stock in time before it is too late.
Important Note: You must have inventory items linked with your marketplace product listing. If you have not linked the marketplace product with the inventory items, refer to the following – How to Use the Bulk Inventory Linking Tool
Step 1: Update Safety Stock and Lead Time
1. Go to Inventory menu and navigate to All Inventory Items.
2. Edit the Item.
3. At Item Info, fill in the Safety Stock and Lead Time of the item.
4. Save the Item after changes made.
Step 2: View the Forecasting Result
1. Go to Inventory Adjustment from Inventory Menu.
2. Click into Inventory Forecasting.
2. From the Filter, you may select the Sales Range: 30 / 60 / 90 days.
3. The result after the filter will then be shown. The column where it is shown in Red Highlight will be the product that needed to be replenished.
Note: Click on the information icon ⓘ to view the Purchase Order (P.O.) details.
Calculation: Sale/Day = Quantity Purchased (Processed & Completed orders) ÷ Sale Range Without P.O. = In Hand Stock ÷ Sale/Day With P.O. = [In Hand Stock + Stock On P.O] ÷ Sale/Day
1. Show Products Need to Restock Only
Filter with option “Show Products need to restock only” status enabled. Hence, it will only show the product list where it required to be restock.
2. Forecast Date
Filter a Forecast Date to check whether the stock will still able to last if the forecast date is reached.
The column where it is shown in Red Highlight and Wording will be the product that needed to be restocked before the Forecast Date.
For example: The product estimated to be last 100 days from today, and you filtered the forecast date which is 100 day later. Then the result will be shown as below: