Each inventory connection in Easy Insight comes with two forecasting reports. The first shows inventory across all locations in your business, while the second allows you to filter inventory by location.
With the report on inventory across all locations, you'll see two values. The labeling will vary a bit depending on your inventory, but in general, these values will be Sales Quantity and Total Quantity. Sales Quantity represents the number of units sold of that SKU, while Total Quantity represents the number of units included in bundles, assemblies, BOMs, or other manufacturing/assembly/kits.
You can click on these values to pull up the monthly totals of quantities for a given SKU, and you can click on a given month to dig in further to the specific orders making up that monthly total.
By default, each forecasting report includes a 'Date out of Stock' field. This field uses a calculation along the following lines:
outofstockdate([Daily Demand], [Available])This calculation takes the daily demand and adjusts it according to any configuration seasonality values. You can configure your monthly seasonality values at Seasonality.
Specify the weight for each month with a value of 1 representing 100% of normal. If you update a month to 1.2, it'll assume 120% of normal demand when calculating values for outofstockdate. You can click Load Historical Quantities to pull in your historical values for help with determining possible month weights.
You can configure reorder points and reorder quantities through the "Configure SKUs for Forecasting" section under your inventory data source.
This page automatically pulls up a hierarchy of products based on how the inventory system works. You can set values at a given level of the hierarchy to apply those values across all of their child products. For example:
For a given product, you can choose whether to track reorders by location or across locations. If you choose per location, you'll need to choose a location from the dropdown at the top of the page. You can set reorder points and reorder quantities. You can also choose to put in an explicit lead time in days for the product.
You can create filters in this page to pare down the list of products shown in the page:
You can also export to CSV and import from CSV to bulk update SKUs with reorder points, quantities, and lead times.
Once configured, you can use these values in your forecasting report by enabling the 'Reorder' segment. This will display the suggested reorder point, days until reorder, reorder date, cost of reorder, and configured lead time for each product.
You can also choose to include in stock %, sell through rate, and stock turn rate as additional fields by enabling the 'Stockout' segment. In Stock % looks at the history of product movements to identify what % of time the product stock was greater than zero. Sell through rate is the percentage of stock sold over the amount of stock received, helping you to identify how quickly your inventory is moving and to mitigate any overstocked inventory cost. Stock turn rate represents your COGS over the average inventory value. A high stock turn rate tends to represent high sales performance, but can also indicate that you might be keeping insufficient inventory of the product on hand. You can use the combination of these three metrics to help try and find the balance between minimizing stockouts while keeping inventory costs from getting too high.
