A few weeks ago, Brightpearl, one of the most impressive commerce management software companies, was posting their success story about online merchants benefiting from better stock levels through Salescast.
If your company happens to use Brightpearl, check-out the recently revised tutorial to get started. In particular, Salescast now benefits from special features that make it much easier to extract your historical data from Brightpearl.
Today, as part of the Commerce Accerelation 101 initiative of Brightpearl, we are jointly publishing a whitepaper about Quantitative Inventory Optimization.
The paper details the notion of quantitative performance of the inventory. Indeed, there is a widespread misconception in supply chain, that stock levels and demand forecasts would be different things. They are not. The combination of stock on hand and the stock on order represent the true “forecast” made by your company. Hence, this is the quality of this anticipation that needs to be measured.
This is a rather opinionated paper. However, we firmly believe that the classic vision (median forecasts, safety stock analysis, etc) is, simply put, nonsense when it comes to the long tail and most of the online commerce.