As an Amazon seller, effective inventory management is crucial for optimising sales and ensuring smooth operations. In this post, we will explore the features and functionalities of SellerBoard’s inventory management system.
Understanding Inventory Data
The stock table in Seller Board’s inventory management system provides detailed information about your products and their inventory status. It includes columns such as current stock, reserved stock, adjusted sales velocity per day, days left in stock, recommended reorder quantity, ROI (return on investment), and more. This comprehensive view allows you to understand your inventory at a glance clearly.
Inventory Forecasting
Seller Board’s inventory management system offers a range of capabilities to help you effectively manage your inventory. One of its primary features is inventory-level forecasting based on your sales data. By analysing your sales patterns, SellerBoard can accurately predict your inventory levels and send you reminders when there’s a risk of running out of stock. This feature is particularly beneficial if you use a prep centre, as it prompts you to send additional goods to the FBA warehouse and alerts you when it’s time to place a new order.
Inventory Value
The top section of the inventory dashboard provides aggregated statistics, including the cost of goods tied up in your inventory, potential sales if all available stock is sold, and the estimated profit you can generate. These figures give you a quick overview of your inventory’s financial aspects.
Days Out of Stock
The stock table in Seller Board’s inventory management system presents a comprehensive view of your products and their relevant information. Two crucial columns in this table are “Days Out of Stock Left” and “Days Until Next Order.” These columns are colour-coded to provide actionable insights. Green indicates that you’re in good shape and have sufficient stock, while yellow signifies that you need to take action within the next seven days to avoid stockouts. Red indicates that an action is overdue, demanding your immediate attention.
Fine-tune Forecasting
Seller Board provides various settings to fine-tune your inventory forecasting. You can adjust parameters such as target stock range, FBA buffer, manufacturing time, shipping to the FBA warehouse, adjusted sales velocity weights, seasonality coefficients, and projected monthly growth rates. These settings allow you to tailor the forecasting model to your needs, considering factors like production lead time, shipping duration, and seasonal sales fluctuations.
Conclusion:
Effectively managing your inventory is essential for maintaining sales momentum and avoiding stockouts. SellerBoard’s inventory management system simplifies this process by offering accurate inventory forecasting, timely reminders, and comprehensive insights. You can optimise your inventory management practices and ensure a seamless supply chain by utilising the stock dashboard, analysing the stock table, and configuring the forecasting parameters. To explore more features and benefit from SellerBoard’s inventory management service, sign up for a free account and experience the power of efficient inventory management firsthand.
