The two biggest stock problems retailers see are over stocks and out of stocked products. To help sellers predict their necessary inventory levels, ChannelAdvisor recently launched their Demand Forecaster, a data-driven forecasting tool.
The new tool removes the mystery from inventory planning so you can have a target forecast to inform data-driven, tactical inventory decisions, using machine learning to identify 50 top-selling items and predict expected 30-, 60- and 90-day stock demand, along with an estimate of remaining days of stock. ChannelAdvisor’s Demand Forecaster is based on historical sales, seasonality and fast-moving ecommerce trends across many channels.
Demand Forecaster will take into account : The Lead Time — How long it takes to receive inventory from the time you place the order; The Reorder Point — To calculate this, you need to know your forecasted daily unit sales; and The Reorder Amount — How much inventory you need.
Demand Forecaster main features
Maximize Profits
The stock level predictor provides accurate inventory forecasting through seasonal sales cycles, making it exponentially easier to avoid missing sales opportunities from running out of stock too soon.
Decrease Costs
By predicting per-product estimates of what inventory levels will look like and when stock will run low on each channel over a period of 30, 60 or 90 days, you can prevent unnecessary inventory fees and closeout pricing.
Understand Demand
The historical seasonal sales analyzer pulls from $8.1 billion in GMV data across thousands of sellers and some 100 channels to help you align inventory to the latest e-commerce trends.
ChannelAdvisor customers can request a demo of Demand Forecaster
