In this article, you will learn about:
Introduction
We're thrilled to introduce you to our product forecasting tool, empowering you to accurately project sales demand, optimise stock levels and align orders to boost efficiencies and maximise profit.
🤖 Automation
Automatically generate sales forecasts using historical data and accurately capture demand using the True Rate of Sale.
🔢 Precise re-ordering
Receive size level reorder recommendations to ensure you have the right stock in the right size at the right time.
🧩 Customisation
Create forecasts at both weekly and monthly levels at the same time for your tailored product list and save your reports for fast, smart, actionable insights.
Getting Started: Products, Channels & Forecast Settings
Define your product list
Using the filters at the top of your Products page, define the list of products you want to include in your forecast, such as category, department, etc. Once complete, you’re ready to begin forecasting.
Accessing the Forecast tool
Click the drop-down on the Products page.
Select Forecast mode to start forecasting.
Complete your Forecast channel set-up
Owners must select the channel level at which their business will forecast.
Products can be forecasted either across combined channels or within individual channels. A default channel will be selected upon entering the tool until a preferred selection is confirmed.
To adjust your Forecast channels, Owner users can navigate to Settings > Forecast channels and click Update to manage the preferred channel selections.
You can check which channels are available for forecasting at any time by opening the channel filter. Channels that support forecasting will display the Forecast tool icon next to them as pictured below.
Define your settings
Multiple products: Settings can be applied to all or selected products by going to the top right-hand corner and clicking Forecast settings.
Single product: Alternatively, settings can be applied to products individually via the Forecast settings icon located above the product image.
Set up your forecast criteria: Order Settings
Set the ideal weeks of cover for your products.
Enter the lead time (how long it will take to receive the first order).
Select the delivery frequency (how often you want re-orders delivered).
Sales Forecast: Select the time period to reference for sales demand. The forecasted units reference the True Rate of Sale for that period. You can edit this value using the pencil icon and adjust the % vs last year when historical data is available for the product.
Sales Shape: When the product you are forecasting has last year's data available, you can select Last Year Shape. This will apply the average forecasted sales to the future period using last years weekly shape.
Click Apply once all your settings are complete and automation of your forecast begins.
Forecast Grid: Layout & Indicators
Layout
The forecasting table layout is split into two sections:
Left: Historical data
Right: Future forecast group by week or month
Highlighted rows on the forecast side can be edited directly in the grid.
The arrows at the top right corner of the grid allow you to navigate left or right to past or future weeks.
Indicators
Highlighted cells on the grid correspond to forecast actions.
🟣 Purple: A re-order is recommended; click the icon to display a detailed order overview.
🌑 Grey: The re-order has been manually edited by a user, deviating from the product’s initial recommendations based on input settings.
🟠 Orange alert: Stock is insufficient to meet projected sales demand. Adjust your forecasted sales units until your re-orders and stock levels can accommodate demand.
🔵 Size detail: To view data at the size level for a product, click ‘View by size’ beneath the product image. The grid will then display size-specific information for that product. To exit this view and return to all products, click the X at the top right corner of the grid.
👉 Tip: Use the + Metrics icon at the top left of the grid to adjust which metrics are displayed in your view.
Forecast grid: Recommended purchase orders
Purchase Order Recommended Units:
A key output of your forecast is the Purchase Order recommended units (Purple indicator).
Orders are calculated using all relevant product data, including stock levels, future orders, sales demand, and ideal cover settings, and are determined at the size level.
You can edit the re-order at either the size or total level. Edited orders will appear with a grey indicator in the grid to indicate that changes have been made.
Save and Export
Saving Your Forecast
Click the Save icon in the top-right corner of the grid to save your forecast for the products in your current filtered list.
If another user is editing the same products, you will receive a notification prompting you to re-save.
Download & Export
Click the Download icon and select the timeframe you wish to export.
Choose to download either Recommended re-orders by size or All metrics as a CSV file.
Save to Reports Library
You can save your forecasted product list in the Reports Library to quickly return to the same list the next time you manage your forecast.
Click the Save button at the top of the page.
Follow the prompts to save your forecasted product list.
🔎 FAQs
How far along can I do my forecast?
How far along can I do my forecast?
Up to 52 weeks into the future
Why do I have to select a channel for forecasting?
Why do I have to select a channel for forecasting?
Forecasting is currently unique to each selected channel. Hence, when you switch to a new channel setting, you will be viewing a different analysis.
The forecast of the channel you selected previously will be saved and accessible whenever you wish to come back.
What happens if I don't have stock history for a period of time?
What happens if I don't have stock history for a period of time?
Your forecasted sales data will be based on sales units before returns (which may include out-of-stock weeks) and not the true rate of sales (which exclude out of stock weeks).
How's the return rate % last 12 weeks (units) metric calculated?
How's the return rate % last 12 weeks (units) metric calculated?
This metric is calculated using the last 12 completed rolling weeks at the size level. Product-level return rates are then derived as the average of all associated sizes.
Questions or feedback? Feel free to reach out to our in-app chat for assistance! 😉