Inventory forecasting is the process of using past data, trends, and known upcoming events to predict the inventory levels needed for a future period.
When you can view the inventory forecast, you will identify some fast-moving products, and you may need to quickly restock those fast-moving items. A fast-moving product is a good or item that sells quickly and within a short period of time.
If you want to identify which products are fast-moving or to see the inventory forecast on your DealPOS account, you can use Inventory Days Of to analyze when you should restock the product. Inventory days of can analyze how long it takes to sell one product until it is sold out. To learn more details about Days of Inventory, please refer to the guide below.
I. Inventory Days Of From the Product's Menu
Step 1. Click the Product Menu, Select Variants and then Input the Variant Name
Step 2. Click the Days of Tab
Description Table
Column | Description |
Outlet | The outlet name |
Available | The total available inventory of the product |
(7 Days Sales) | The total sales of the last 7 days |
Qty/Day | Average daily sales of the product |
Days of | Estimated time until inventory runs out |
II. Days Of Inventory For Specific Product
Step 1. Click the Inventory Menu and select the Days Of Tab
A filter will pop up, then set the filter based on your preferences.
Description Table
Column | Description |
Show Inventory & Sales for Outlet | Select the outlet |
Category | Select the product category |
Number of Days | Total sales days for the product |
Set ROP for Outlet | Select the outlet to set product's ROP |
Step 2. Input the Product's Name
Description Table
Column | Value | Description |
Products | Set Alat Makan Reguler | Product's name |
Code | AM001R | Product's code |
Available | 70 | Total available inventory of the product |
Sold/Day | 4.6 | Average daily sales of the products |
Days of | 15.217 | Estimated time until inventory runs out |
Lead Time | Column will only appear if you select an outlet in 'Set ROP for Outlet' filter | Estimated days for product's inventory/stock preparation |
ROP | Column will only appear if you select an outlet in 'Set ROP for Outlet' filter | Minimum threshold of product's inventory/stock |
Notes:
1. Sold/day calculation: total of products sold (Daysproduct sales history,) (based on the 'Number of Days' filter column ) divided by the 'Number of Days' filter column.
2. Days of calculation: number of 'Available' divided by number of 'Sold/Day'.
Step 3. Set the Lead Time and ROP
To set the product's ROP, first select an outlet in the 'Set ROP for Outlet' column in the filter, the Lead Time and ROP columns will then appear.
You can input the Lead Time and then it will automatically calculate the product's ROP, and then you can directly set the product's ROP as well by clicking the 'Save ROP' button.
Notes:
ROP calculation: Sold/Day multiply by Lead Time.
Go to the Products menu, the product's ROP has been updated.
III. Days Of Inventory For All Products
Step 1. Click the Inventory Menu and then Select the Days Of Tab
Pop up filter will appear, set the filter based on your preferences.
Description Table
Column | Description |
Show Inventory & Sales for Outlet | Select the outlet |
Category | Select the product category |
Number of Days | Total sales days for the product |
Set ROP for Outlet | Select the outlet to set product's ROP |
Description Table
Column | Value | Description |
Products | Set Alat Makan Reguler | Product's name |
Code | AM001R | Product's code |
Available | 70 | Total available inventory of the product |
Sold/Day | 4.6 | Average daily sales of the products |
Days of | 15.217 | Estimated time until inventory runs out |
Lead Time | Column will only appear if you select an outlet in 'Set ROP for Outlet' filter | Estimated days for product's inventory/stock preparation |
ROP | Column will only appear if you select an outlet in 'Set ROP for Outlet' filter | Minimum threshold of product's inventory/stock |
Related Articles
If you want to know more details about your product's movement log. Please refer to the article below:
Tracking Product Inventory Movements Using the Inventory Log (Stock Card)If you want to bulk input in the Buy menu. Please refer to the article below:
Bulk Input Product when Purchasing OrderIf you want to ajudst your product's inventory/stock you can use the Adjustment menu, to learn more details about Adjustment. Please refer to the article below:
Adjustment
DealPOS is an online point-of-sale (POS) application specifically designed for retail businesses in categories like Fashion, Minimarkets, Electronics, Fresh Food, and Building Material Stores.
With DealPOS, you can manage both online and offline store inventory in real-time on a single platform. You can also sell through omnichannel (offline and online) as DealPOS integrates with marketplaces (Shopee, Tokopedia, TikTok Shop, Lazada) and instant web stores (Shopify and WooCommerce).