Introducing Reorder Management Reports

Introducing the Reorder Management Reports to empower retailers to maintain optimal inventory levels.

In the dynamic retail landscape, effective inventory management is essential for retailers to strike a balance between well-stocked shelves and avoiding excess inventory. Manually monitoring stock levels, sell-through rates, and pending deliveries can lead to errors, resulting in stockouts, lost sales, and compromised customer experiences. Traditional inventory thresholds help prevent stockouts and overselling online but often overlook the issue of lost sales due to underselling. Retailers need a solution that not only prevents stockouts but also minimizes lost sales by allowing for strategic overselling and back-ordering.

The Reorder Management Report feature automates the replenishment reports, enabling users to set a reorder point for each product. When a product's inventory, including current stock and pending purchase orders, reaches this reorder point, an automated report is triggered to notify users to reorder. This report provides comprehensive details, including the SKU, brand, current inventory level, purchase order inventory, and the specific reorder point, facilitating informed decision-making.

The Reorder Management reports leverage a dedicated reorder channel within HotWax Commerce. This channel operates independently of the primary sales channel and is solely dedicated to triggering reorder reports and managing reorder points.

Example:

• Primary Sales Channel: Let’s suppose, the primary sales channel has 100 inventory of a product.

• Reorder Channel : In this channel, the retailer has set the reorder point of 10 for the same product.

As sales occur on the primary sales channel, the inventory decreases. When the primary sales channel sells 90 units of a product, reducing the inventory to 10 units and matching the reorder point set in the reorder channel, an automated reorder report is triggered. This allows retailers to continue selling the remaining inventory on the primary sales channel and make an informed decision to replenish their inventory if needed.

By automating the replenishment reports, the Reorder points help retailers streamline inventory management, minimize lost sales opportunities, and optimize operational efficiency. This automation ensures that the right products are consistently available to meet customer demand both online and in-store, enhancing customer satisfaction and maximizing sales potential.