Is there an app that will look at your sales history for the past months and tell you how many of each product you need to order to avoid backorders and such ?
I am pretty sure to have found one last year that said that, but I just can't find it anymore.
And if there is more than one with this option, which one you preferred ?
I'm Zuzanna, from the team here at Shopify :)
There are a few apps in our App Store that do inventory forecasting! Check these out:
I hope this helps! If you have any more questions or concerns feel free to reach out to us here :)
Have a great one,
This is a bit of a late reply, but we've recently also launched our sale forecasting solution based on cutting edge machine learning technology for Shopify, please feel free to check it out and test a trial.
It is available here: https://apps.shopify.com/futuremargin
Any questions are welcome anytime.
Have a great day,
Let me give my contribution to this discussion.
Knowing how many of each product to buy is a matter of mixing current available stock, lead times, service level and purchasing budget. In addiction to this, the replenishment process takes the demand forecasting as an input and generates the replenishment suggestions basing on it.
So, if you are good at mixing the replenishment constraints but you rely on poor forecasting, you'll probably issue bad purchase orders. Result: stockouts and excess inventory.
In order to optimize the inventory (reordering what you'll likely sell, not too much for preventing excess inventory and locked capitals, not too little for preventing stockouts) you need an accurate forecasting & replenishment tool; if your catalog is big this tool has to be smart and automated at the same time :)
Take a look at intuendi, a tool specifically created for Demand Forecasting and Inventory Optimization, I'm pretty sure it is the tool you're looking for.
Have a great day,
Hi Karine, this might be late but many merchants need to forecast the right product at the right time. This process requires good data that is well organized as well as a good forecasting tool. At basic-code they help prepare the data as well as provide a great forecasting tool. inventory is a huge expense and it is critical to get the proper balance.
Have a great day!