Start predicting your sales demand and inventory planning

Inventory forecasting can play a major role in an e-commerce store’s success. But despite the advantages, eCommerce store owners still struggle to create inventory forecasts that are anywhere near reality.

What is an inventory forecast?

Inventory forecasting is the process of calculating the inventory needed to fulfil future customer orders based on how much product you predict you will sell over a specific period of time. These estimates take historic sales data, planned promotions, and external forces into account to be as accurate as possible.

Why is inventory forecasting important?

• Less inventory needed on hand: improve your cash flow as you will not have to purchase inventory that you don’t need for a given time period.
• More sales from fewer out of stock items: fulfil each order as soon as it’s placed so you no longer have to worry about stockouts or backorders.
• Less manual labour - saves labour and warehousing costs because you are better prepared to handle changes in demand and can reduce some manual work
• More efficient production cycle - you are better prepared to handle changes in demand and can reduce some manual work
• Better manage products across the entire supply chain so you know precise manufacturer lead times, receiving timelines and the exact stock levels of each product.

Introducing Truestock Insight...

Generate inventory forecasts based on your Shopify store so you can see exactly how much you need to order and by when.

• Replenishment Forecasting: Use statistical forecasting to predict inventory demand you know how much inventory you really need to replenish.
• Overstocked forecasting: We automatically identify when you have too much inventory for certain products and help you shift what’s not needed.
• Active Stock Monitor alerts: Easily set up to 50 different stock monitor alerts. We will notify you when inventory stock rises or falls or when inventory stock needs replaced. Your alert will last up to 90 days, and you can manage your alerts online at any time.