Buy The Right Inventory to Make a Pretty Profit
As a beauty brand In the current market, it’s vital you stay up to speed with which items drive most profit, as well as less popular products that can drain your cash flow.
But beauty trends can change (literally) overnight, so you need to plan your inventory based on up-to-date insights.
Inventory Planner makes it easy.
It offers intelligent demand forecasting that factors in your latest sales trends and translates it into reliable buying recommendations that will boost your profit.
Top features for beauty brands
Forecast accurately, buy confidently
Knowing exactly what your customers want is essential for getting your inventory right. Inventory Planner constantly analyzes your selling patterns and adjusts your demand forecasts accordingly. Then it tells you what you need to buy to boost your profits or sales, and when to buy it to meet forecasted demand.It means you can spend your capital on your real bestsellers, not outdated ones.
Act on excess inventory fast
Inventory Planner flags up any items that aren’t selling in line with customer demand including overweight ‘safety stock’. It offers key insights like overstocked costs, last sold date and overstocked units, so you can act on your biggest cash-drainers first before they lose their appeal and hit your cash flow.
Easy bundle and assembly inventory planning
Knowing how much of each component you need and when to order to create the right amount of beauty products can be mind-boggling. Inventory Planner is built to automate inventory forecasting and planning for assemblies as well as bundles. It breaks down forecasts and buying recommendations to component level, so you always have everything you need available (and don’t risk messing up your cash flow).
Shorter purchasing cycle, healthier cash flow
Purchasing months (or even years) in advance reduces the risk of stockouts, but it’s a burden on your cash flow. With Inventory Planner, you can shorten your purchasing cycle while still keeping stockout risk low (and releasing much-needed cash). How? Use ideal ‘stock cover days’ that can be adjusted at any level (such as SKU or supplier) to align your purchasing frequency with each item’s supply patterns.
Buy new items with confidence
Does investing in a new wonder cream or an eco-friendly hair dryer feel like a gamble? Inventory Planner eliminates the guesswork by allowing you to ‘borrow’ sales data from similar products as a reference to predict future demand for new products. You’ll get buying recommendations for every variant (including size, color, pattern), so you can invest with confidence.
Customized for retail and wholesale
Wholesale and retail beauty and skincare products sell at different paces and quantities, so they need a different approach. Inventory Planner separates retail and wholesale goods and uses separate forecasting models, so you get buying recommendations that you can rely on (and you never overstock or run out of stock again!).
SKU-level actionable inventory insights
Inventory Planner translates your inventory and sales performance data into 200+ metrics for all your products that allow you to make truly revenue or profit-driven decisions without feeling overwhelmed by data. In addition, Inventory Planner pulls core metrics from Google Analytics to take your reporting to the next level. Easily assess a product’s page views with its sales performance to understand if it should be merchandised differently on your webstore to drive more sales.
Automated multi-warehouse inventory planning
Multiple sales channels plus multiple warehouses can equal multiple headaches. Not with Inventory Planner. It forecasts customer demand for each of your inventory locations including your own warehouses, brick and mortar stores, Amazon FBA and 3PLs. Based on forecasted demand, it offers reliable inventory buying recommendations including warehouse transfer insights to help you balance inventory across locations before ordering new stock.
Easily plan purchasing budgets
Inventory Planner’s Open-to-Buy (OTB) feature lets you plan your buying budgets by month or retail weeks to meet your goals, based on your core metrics such as previous years’ revenue, expected margins and even the exact number of units you need to order based on retail price.
Get your customer demand forecasts and inventory buying recommendations
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Frequently Asked Questions
It starts with your data
Your inventory and sales data is the foundation on which our accurate forecasting and inventory planning is built on. That’s why we’ve made it easy to seamlessly and securely add it to Inventory Planner.
No matter where you store your data (whether it's your online stores, inventory and order management systems, warehouse management systems, or ERP, EDI, accounting tools and spreadsheets); we’ll get you connected so that you get forecasting and inventory buying recommendations that are accurate, reliable and always up-to-date.
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