App Overview:
Seek’s Predictive Inventory app helps Replenishment/Supply Chain and Customer Business Management teams, prevent future out of stocks before they happen, shifting inventory management efforts from reactive to proactive.
Built by industry experts, Predictive Inventory leverages point of sale data to forecast future demand, anticipate item stockouts, and identify your lost sales due to insufficient inventory.
Take action to improve in-stock percentages and reduce stock outs using Predictive Inventory
App Benefits:
- Quickly gain visibility into upcoming stock-outs across stores, items and DC’s
- Take-action to capture lost sales based on variable replenishment lead times
- Understand future inventory positions to better plan for features, displays and marketing campaigns
Key Metrics:
- Out of Stock Inventory: Count of out of stock instances across every Point of Distribution (POD). (eg 2 items * 2 stores * 7 days = 28 OOS)
- At Risk Dollars: Dollars at risk due from future out of stocks
- Lost Dollars: Dollars lost due to future out of stocks
Actions You Can Take:
- Replenish inventory on a timely basis: Predictive Inventory 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: Predictive Inventory 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.