Have your inventory ready when your customers are
The combination of unpredictable customer demand and volatile supply chains has left many retailers worried for their future, especially since previously successful leading brands like MADE.com went under after holding the wrong inventory at the wrong time.
But there is a solution: Inventory Planner.
It reliably predicts precise customer demand, telling you exactly what to buy and when to buy it, so you can rapidly adjust to market shifts before it’s too late.
Features for furniture retailers
Forecast accurately, buy confidently
Knowing exactly which products your customers are likely to buy (and in what quantities) gives you the power to stay ahead of the curve. Inventory Planner constantly analyzes your most recent customer demand and factors in critical indicators such as seasonality, YoY sales shifts, promotions and any unusual sales spike or drop to cleverly predict customer demand. Then it offers reliable buying recommendations (down to the last unit).
Add in flexibility to supply shifts
Inventory Planner helps you handle volatile supply chains proactively to avoid excess inventory that arrives at the wrong time and kills your cash flow. It lets you take rapid action when lead times change – at SKU, product category, brand, vendor and warehouse level. You can also reduce stockout risk on goods that experience supply shortages by adjusting your ideal stock cover days.
Liquidate slow-movers to release cash
The value of a furniture merchant’s inventory is often higher than most, which means you’re at higher risk of having cash tied up in inventory that doesn’t sell as quickly as you hoped. Inventory Planner highlights your overstocked items alongside the associated cost, so you can quickly identify your biggest cash-drainers and liquidate them to release cash.
Easily plan inventory for assemblies
Knowing how much and when to order each component of an assembly is challenging, especially when the supply chain causes issues. Inventory Planner offers inventory purchasing recommendations at component level based on reliable demand forecasts. It factors in each component’s stock level and supply time, so you always have everything you need available (and don’t risk messing up your cash flow).
Optimize your warehouse and shipping container space
When it comes to buying bulky inventory like furniture, space is an important consideration. Inventory Planner lets you factor in your shelf space capacity at every warehouse and scale your purchase orders to max out the space or weight available in containers, reducing the unit shipping cost of each item.
Cash-boosting metrics
Inventory Planner offers more than 200 meaningful metrics that enable decisions to keep your cash flow healthy, such as forecasted lost revenue/profit due to delayed replenishment, as well as metrics pulled from Google Analytics to further boost your revenue or profit. For instance, 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 or profit.
Plan your purchasing budgets
If the value of your inventory is high, it’s essential to ensure you have enough budget for buying available. 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 key metrics such as previous years’ revenue, expected margins and even the exact number of units you need to order based on retail price.
Easy multi-location inventory planning
Inventory Planner tells you exactly how much inventory is needed for each of your locations including your own warehouses, physical stores, Amazon FBA and 3PLs, based on accurate demand forecasting. Plus, it offers smart inventory transfer recommendations, allowing you to optimize your inventory levels across locations before ordering new stock.
Time-saving PO management
If you use lots of suppliers, including some overseas, to keep your costs low, placing POs can be time-consuming and prone to errors. With Inventory Planner, you can place purchase orders directly from your buying recommendations. Plus, pre-set all your supplier information such as currency, minimum order quantity and payment terms so they can be automatically applied to a new purchase order, saving you hours of valuable time.
See exactly how much excess inventory you have
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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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