“Flieber always helps us balance the inventory levels across all locations at the time of purchase, so that we avoid being overstocked in one country while stocking out in another.”
Spreadsheets feel inevitable. Especially for many brands that depend on spreadsheets to manage forecasts and inventory.
If done correctly, your spreadsheet can track every SKU across every channel. The result is ending up with tons of data points, a forecast, and a plan.
But in the time it takes for you and your team to complete this, how certain are you that there is no cell with an errant formula or number?
Q: What’s the cost if there’s an error or miscalculation?
A: Could be a $20k or $200k mistake.
Even the most sophisticated retailers struggle to get it right. The reason? Lack of data visibility, sales volatility, and complex supply-chains.
A product in high demand today, may be in low demand tomorrow (if you stocked up, you are left with overstock), and a product in low demand, may take off (and you will stock out).
Historical sales data is a good starting point in predicting future sales, but how can you account for previous stockouts (how much you would have sold had the product been in stock?), outliers (like COVID-19), recent trends, and other data points?
Let’s say a market change impacts sales or a supply chain disruption delays a PO.
You must be ready to turn on a dime to adjust inventory quickly, no matter the time or it will impact your margins.
Stockout? Solved. See it for yourself.