The SKULabs Insights page enables additional advanced metrics such as "goods on hand", "potential sales", profit and COGS. This is where you can run more advanced reporting than the basic reports and insights already offered throughout the app. These additional reports help with covering all of your sales, products, shipping, picking performance, and fulfillment efficiency.
In addition, it activates advanced inventory and order management features to help you make better reordering decisions, evaluate current inventory status, monitor inventory age, and forecast stock out.
The insights functions enrich the inventory table by taking your filtered list of Stores and based on # days sold generates your expected stockout dates and last sold dates. Adjust the Stores and # days sold filters as desired using the filters button.
Note: This tool offers a quick view at expectations not taking into account seasonality. The velocity used in these formulas is based on the date of the first sale to the current date but this may over-estimate sales velocity for slowly selling products. At this time, this tool does not take into account only the time periods where the product was in stock while calculating velocity so in that regard sales velocity may be under-estimated.
An item row with "now" under Stockout column means that item is already out of stock. Any rows with "never" represent there being no sales history for the # of days and stores selected in your filters.
Sales velocity insights is available on Inventory page by selecting Sales velocity under Menu.
Adjust the Filters, date range and Forecasted time (days) as desired to produce insights into metrics such as:
- Sold: This count represents the total quantity of an item that has been sold over the provided date range.
- # Days Sold: This count indicates over how many days the sales occurred for an item.
- Velocity: This metric provides the average number of units sold per day.
- Projected: This value indicates projected sales over the Forecasted time (days).
- Mover: The mover rating is a ranking of each item in your inventory based on recent sales volume. "A" movers are your top 20% of items sold recently, while "B" items are your next 60%, and "C" items are your bottom 20%.
- Days left: This indicates the number of days before selling out available inventory for an item.