How to monitor my Inventory & Forecasting

In this article we will give you an overview of how you can monitor your inventory and forecasting. Plus, we show you when you should step in and take action, in case your inventory level is low for top-selling ASINs.

1. Inventory Dashboard Overview

2. Use Cases 

a. How can I prevent to go out of stock 

b. How do I check if my stock is covered

c. How can I see my last years stock for specific event days? 

 

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1. Inventory Dashboard Overview

Before you dive deep into Inventory & Forecasting Use Cases, we suggest to first go through the Inventory Walkthrough for either Vendor or Seller, to learn the basics of the Dashboard. 

Walkthrough ➡️ VC / SC

Inventory Dashboard ➡️ VC / SC

 

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2. Use Cases

a. How can I prevent to go out of stock 

Challenge:

As a vendor or seller, you might struggle with monitoring your stock levels and ensuring that you don't run out of products. Stockouts can lead to missed sales opportunities and dissatisfied customers, making it challenging to maintain optimal inventory levels and visibility into your sales velocity. This lack of insight can hinder your ability to anticipate and prevent stockouts effectively.

Solution:

To help you manage your stock levels better, and understand precisely when you would run out of stock with the current inventory levels and sales speed, we have implemented the "Run Rate (Days)" KPI in our inventory dashboard for sellers and vendors. 
This KPI will help you to understand how many days you left left, before you could run out of stock.

While as a Seller, you will be able to react immediately and fill your stock levels on Amazon, as a Vendor you are more dependent on purchases from Amazon. 

When to Use This: Monitor the Run Rate regularly, especially for high-demand ASINs, to determine when to reorder stock. This should be part of your routine inventory management process, ideally on a daily or weekly basis, depending on the sales velocity of your products.

Why to Use This: The Run Rate KPI provides critical insights into how many days of inventory you have left at the current sales pace.

By leveraging the Run Rate KPI, you can make data-driven decisions to keep your inventory levels aligned with sales demand, thereby ensuring continuous availability of your products on Amazon and maintaining customer satisfaction.

 

b. How do I check if my stock is covered

Challenge:

As a vendor, determining if your stock is sufficiently covered to meet future demand can be challenging sometimes. Without clear visibility into inventory levels and purchase orders, you risk stockouts during critical periods such as seasonal peaks or market fluctuations.

Solution:

Utilize our Coverage Forecast KPI to confidently assess your inventory readiness.

When to Use This: Regularly review the Coverage Forecast, especially during planning cycles, seasonal peaks, or when there are significant changes in market conditions. This should be part of your strategic inventory management, typically on a weekly or monthly basis.

Why to Use This: The Coverage Forecast KPI helps you understand if your current inventory and open purchase orders are sufficient to meet Amazon's forecasted demand. This ensures that you are prepared for future sales and can prevent stockouts.

 

c. How can I see my last years stock for specific event days?