Sales forecasting and inventory optimisation

sellsmart
New Member
2 0 0

Howdy Shopify peeps!

 

I'm building a tool for Shopify that forecasts sales and makes recommendations about how your inventory can be optimised. The goal is to help vendors improve profitability by making better decisions about stock replenishment. Ever sold out and missed out on sales? Or held too much stock? It’s focused on those situations. We've built the forecasting engine and we're getting ready for a beta release and hoping for some user feedback! Really keen to understand what insights people need in order to maximise impact of the product.

 

So, please check us out: https://www.sellsmart.app

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JonWright
Shopify Partner
727 107 304

I like the look of it. Couple of questions/thoughts:

 

- I would add a video demo/walkthrough on your website

- Ideally the ability to actually try a demo

- How is it different/better than Stocky? as that comes free with all plans except basic, I guess that's going to be your main competitor.

If helpful then please Like and Accept Solution
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sellsmart
New Member
2 0 0

Thanks for the feedback, really helpful! Video is a good idea. We'll grab a screen recording and pop it on the page.

 

Your question about Stocky is a good one. Stocky covers more of the inventory management lifecycle whereas our value proposition is entirely focused on producing accurate predictions about sales and inventory. We live and die by our ability to produce accurate forecasts, really.

 

We're using a machine learning time series approach and supplementing it with external datasets (e.g. market sector data). We are focusing on features that help us capture changes in market conditions, events, seasonality, etc. This lets us build really accurate forecasts both for customer demand and inventory optimisation.

 

The key differentiation is in the approach because Stocky uses what looks like a rolling average forecast, e.g. "last X days" and "same period last year". Rolling average can’t deal with situations like a surge in sales due to an externality. But, we won't be looking at the inventory lifecycle so whilst there are similarities I think we're playing in slightly different spaces!

 

And yes, demo is key! We're hurrying to get something in the hands of users as soon as possible.

 

Thanks for the feedback. 

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