CHECK YOUR FORECASTS!
If you’re experiencing consistent retailer store out-of-stocks, begin your investigation at the forecasting level — SOLYS offers several Forecast tools to ensure accurate retailer orders and supplier shipments:
- Forecast Builder imports retailer forecasts, builds vendor-specific forecasts and enables you to receive reports that give you a full picture of your inventory flow to help minimize stocking issues.
- Forecast Accuracy allows you to compare retailer and your forecast data to actual sales to help determine which forecast was more accurate.
- Forecast Plus Actuals lets you see past sales history and future forecasts to validate forecasts or identify issues with the retailer's forecast.
- Forecast Exceptions helps you identify items/weeks where your forecasts differs from the retailer forecast by more than a configured percent.
- Future Logistics Overview (FLO) shows you how past sales, forecasting, and ordering trends affect store sales and inventory levels to predict and address future OOS issues.
GET STORE ALERTS!
You may not even be aware that your shelf space is empty. You know that your forecasts are solid — so no problems with ordering and shipping. But sometimes OOS issues are not forecasting issues — they could be problems with in-store execution. SOLYS Store Inventory Alerts also help you quantify the OSA problem in terms of the number of issues or lost sales dollars:
- Phantom Inventory Alerts signal you when an item has inventory at a location, but has not sold for a specific number of weeks.
- Negative EOH Alerts tell you when each item or location has a negative EOH inventory.
- Pres Min Violation Alerts are created when each item/location has an ending on hand that is leass than the Pres Min Final Calc Units reported for that item/location for consecutive weeks.
- Alert Opportunities Report offers you a summary of all alerts currently in your database.
- Store by Store Alerts Report shows you specific stores that are experiencing inventory exceptions.
In a recent blog post, McKinsey & Company pinpointed seven technology-driven trends that are transforming the role of CIOs in the CPG industry to strategic enabler and differentiator. One of these trends is “demand-driven supply chain management” to minimize inventory levels, improve service and reduce out-of-stocks. Having access to customer demand data gives the CPG company the ability to analyze and apply insights to their operations and share data with customers and distributors.