The Inventory Replenishment report helps you plan the purchase of products you reorder frequently. You can use this report to:
- Make sure you always keep your top-selling products in stock and never miss a sale.
- Predict when products might run out.
- Understand customer demand for products with seasonal swings.
- Estimate the cost of an order.
What can it tell you?
The report presents information about what products you have and what you’ve sold.
- Closing Inventory. Your inventory at the end of your selected date range. If that is today then it equals your current stock on-hand.
- Items Sold. The total items you sold in your selected date range.
- Items Sold per day. The average daily sales in your selected date range.
- Days Cover. The number of days before your ‘Closing inventory’ will run out based on `Items Sold per day`.
- Average Cost. The average unit cost of on-hand inventory during your selected date range.
Check out how you can customise your Inventory reports.
Tips on using the Replenishment report
Find out what you have and what’s running low
The report shows your top-selling products first. Change the report measure to ‘Low Inventory’ to focus on Products below their re-order point. Change the measure to ‘On Hand’ to focus on products you currently have in stock.
Order based on customer demand
Let’s say you sell socks and you need to understand which type is selling out fast or might sell out in an upcoming season (Easter egg print is huge in April!). Change the date range to show sales last week, or a similar period in the past (e.g. last Easter).
Prepare supplier orders
Export the Replenishment report and use it to calculate how much inventory you need to cover your next period. Add a column named ‘Quantity’ and you can import this file directly into a new Purchase Order in Vend to add the right amount of the products included in the file.
Plan stock transfers between outlets
Have multiple stores? Add ‘Outlet’ as a second dimension to see customer demand and inventory in each store and plan your stock transfers. Select this using ‘Format Results’