Inventory Replenishment for fast-moving Product Variant
The Inventory Replenishment for Fast-Moving Product Variants report in Assisty allows you to focus on the top-performing product variants that are selling at a fast pace. By analyzing this segment, you can ensure efficient inventory management and timely replenishment to meet customer demand. Follow the steps below to access and utilize this report effectively.
Step 1: Accessing the Inventory Replenishment for Fast-Moving Product Variants Report
Log in to your Assisty account.
Navigate to the Report Library section.
Select the Replenishment category.
Choose the "Inventory Replenishment for Fast-Moving Product Variants" report.
Step 2: Selecting the Date Range
On the report page, locate the date range selection feature.
Click on the date range input field to open the calendar.
Choose the start and end dates that correspond to the time period for which you want to analyze the sales data.
Step 3: Understanding the Report Metrics
The Inventory Replenishment for Fast-Moving Product Variants report provides important metrics that help you make informed replenishment decisions. These metrics include:
Average Daily Units Sold: This metric represents the average number of units sold per day for each product variant in the fast-moving segment.
Total Units Sold: This metric shows the total number of units sold for each product variant in the selected time period.
Replenishment Quantity: The suggested quantity to replenish for each product variant based on sales data and current stock levels.
Inventory Value: The total value of the inventory for each product variant in the fast-moving segment.
Retail Value: The estimated retail value of the inventory for each product variant.
Step 4: Analyzing the Report Data
Review the Average Daily Units Sold column to identify the product variants that are selling at a fast pace.
Examine the Total Units Sold column to understand the overall sales performance of each product variant.
Pay attention to the Replenishment Quantity column, which suggests the quantity you should replenish for each product variant to maintain optimal stock levels.
Consider the Inventory Value column to evaluate the value tied up in inventory for each product variant.
Take note of the Retail Value column, which estimates the potential revenue that could be generated from selling the current inventory.
Step 5: Taking Replenishment Action
Based on the report's data, prioritize the product variants that require replenishment due to high sales and low stock levels.
Use the suggested Replenishment Quantity as a guide to determine the quantity to reorder for each product variant.
Initiate the replenishment process by placing orders with suppliers or updating inventory levels in your system.
Monitor the impact of replenishment actions on sales and stock levels to fine-tune your inventory management strategies.
By utilizing the Inventory Replenishment for Fast-Moving Product Variants report, along with the selected date range for analyzing sales history, you can optimize your inventory management for the top-performing product variants, ensuring that you always have the right stock levels to meet customer demand.
Updated on: 12/07/2023