Vendor Central Catalog Management
Transcription
With the use of the forecasting models available offer vendor Central’s Amazon retail analytics dashboard. You can be sure to be able to maintain your inventory for all products on your catalog. It would probably be best to rather oversupply your warehouse then undersupply and you can then always dial back the next order.
show moreIf the forecasting model shows less stock needed. It is also vital to include seasonal trends. When planning your inventory replenishment. As some months, you may only need to order 20% of what you normally would while other months where your product is more relevant to any seasonal events or activities in that month, you would need to ensure you have 80% of what the inventory model predicts, or even 120% thereoff.
The best way to work on seasonality is to run average percentages across several months. Usually a quarter of the year. In this case, you would be, do best to work your inventory planning quarters to match those of Amazon’s. That is first quarter is one January to 31 March. Second quarter is one April to 30 June etc.
Once you have gleaned a trend in the average percentage of a forecast model for a quarter of a season, you will be able to maintain your available entry far more accurately. For example. Over the first quarter, when your product of velvet pink, heart shaped cushion sells best over the Valentine’s month, you will find that 130% of your forecasting model is actually what ends up being sold.
Therefore, when planning your inventory holding or availability for the first quarter and your forecasting model says you will need 10,000 units of these velvet cushions, you will order 13,000 units instead. But when 4th of July comes around in the third quarter, And your cushions are not selling well with a forecasting model, predicting 7,000 units needed. And your seasonality percentage saying 20% of this, then you would probably only order 1,400 units instead.