#Inventory manager training software

I kept asking my friends in different masterminds what they were using, and I kept hearing that everyone was going back to spreadsheets because nothing was working right for them.

#Inventory manager training software

IвЂ™ve been an Amazon seller since 2014, and I built the SoStocked software to solve my own inventory problems. WeвЂ™ve created a couple of different resources during the time weвЂ™ve worked with Amazon sellers. These elements working together will allow you to be flexible enough to mitigate problems like stockouts, improve your cash flow and maximize profits. ItвЂ™s essential to create a way to coordinate your teams, production, warehousing, FBA inventory, and buffer stock.

The responsibility falls on both sides.ДЄdditionally, the inventory team should be proactive in providing inventory data to the marketing team such as Stockout Risk Reports, Overstock Reports and Slow Seller Reports so that marketing can further focus on strategies to ensure their actions assist the inventory team in staying in stock and avoiding an overstock situation. The inventory team also needs to be more responsible for communicating with the marketing team and asking for those plans. It is vital that the marketing team provide marketing plans to the inventory team in advance in order to vet out the inventory to ensure marketing campaigns wonвЂ™t lead to stockouts. Some of the biggest failures in inventory management happen when the marketing team is not working with the inventory team and not giving them the data needed by the inventory team. Part of the prediction process is working with your marketing team. You can get more flexible in dealing with the issues that could come along.ДЄ good inventory manager will equip you with the flexibility to solve those problems. No one can prevent stockouts 100% of the time, but you can get better at it. No one could expect that COVID would occur or that some products would have their sales drop out and some productsвЂ™ sales would skyrocket. ItвЂ™s impossible to predict 100% of what's going to happen. All of these factors have been built into the SoStocked tool! Additional forecasting factors, as we mentioned before, are promotions, marketing events, and sales trends that you can add on top of your sales velocity. You want to have that little extra cushion just in case anything goes wrong with your shipment or your check-in times so that you don't stock out while you're waiting for those things to resolve themselves. You never want to run your inventory down to zero. ItвЂ™s like a cushion to account for unexpected things like shipment delays. Buffer stock is an extra amount of inventory that you keep on hand to ensure you never run out. How long does it take from the point that you submit your order to the time it arrives at Amazon? In SoStocked, we refer to a lead time as вЂњ the time from your supplier to the final destination.вЂќ And we like to refer to transfer time as вЂњ the point that you send your inbound inventory from your warehouse to the final destination.вЂќ

If you order every month, you'll have a smaller order than if you order every three months or every four months. Do you order every month or every three months? And how often do you transfer from your 3PL? Once or twice a month? Your sales velocity might change the amount that you order. However, that data might not be relevant when moving into Christmas time, so you want to know what you did at the same time last year.

Sales velocity for the past 30, 60, or 90 days, including seasonality.

Other factors to consider including in your forecast data: