App Overview:
Seek's Historical Out of Stock app is the perfect solution for Replenishment / Supply Chain and Customer Business Management teams who would benefit from a detailed, deep dive analysis highlighting historical trends driving out of stocks and providing POD level visibility into how to solve out of stocks in the future.
This app helps drive visibility across your item portfolio, enabling you to take action at various levels of the business. With Seek's Historical Out of Stock app, you can gain a deeper understanding of your inventory history and make data-driven decisions to optimize your future supply chain.
App Benefits:
- Gain visibility into past out of stock performance, aggregated across various dimensions
- Understand lost sales attributed to lack of inventory for Brands, Items and Stores
- Know what brands, items and stores have the largest opportunity to improve
Key Metrics:
- Out of Stock Inventory: Number of out of stock instances across every Point of Distribution (POD). (eg 2 items * 2 stores * 7 days = 28 OOS)
- Possible In Stock Inventory: Number of instances that you could have had available units to sell at any store for any item on a given day.
- In Stock Percentage: Percentage of time in stock
- Out of Stock Percentage: Percentage of time out of stock
- Missed Dollars: Projected dollars sales missed from out of stock items
Actions You Can Take:
- Replenish inventory on a timely basis: Historical Out of Stock can help drive alignment in item replenishment schedules to ensure they are replenishing inventory on a timely basis, without over-ordering or under-ordering.
- Improve supply chain efficiency: Historical Out of Stock can help businesses to optimize their supply chain by identifying inefficiencies and bottlenecks across stores and distribution centers. By streamlining the supply chain, businesses can reduce lead times and minimize the risk of stockouts.
- Adjust inventory levels: Based on the predictions of future demand, businesses can adjust inventory levels to ensure that they have the right products in stock at the right time.