What is Forecastly
It helps Amazon sellers to keep better tabs on their inventory. It is one of the top Amazon softwares on the market that will assist you, the seller, in keeping track of the stock you have that has sold out of the Amazon Fulfillment Center. There are several reasons a seller does not want to run out of inventory in the Amazon Fulfillment center. These reasons are as follows.
What are the Features and Benefits of Forecastly
There are four exciting features of the software. The feature-rich software makes it easy to own and learn. These features are as follows.
• Advanced replenishment stats
• Industry-leading demand forecasting
• Inbound shipment tool
• Insightful account dashboard
Advanced replenishment stats—with this feature, a seller of both the Amazon marketplace and FBA sellers can reap the rewards. The feature gives a detailed report of what the seller has in stock. The software counts the inventory. The seller knows how much of the product to reorder. When the seller replenishes stock, the software tells the user what the best way to replenish their stock is.
Industry-leading demanding forecast—this feature offers users an opportunity to get their stock forecasted with ease. When the software forecasts the stock, the user gets real-time results. They can configure how much they need and when they need it.
Inbound shipment tool—when using this tool, users have the opportunity to come to terms with all inbound shipments. They can process both Amazon and non-Amazon shipments. It is a useful tool for any Amazon seller. When using this part of the software, users will find that it is easy. The process in the software makes reconciling the shipments easy and useful. You do so with the click of a button.
Insightful account dashboard—There are a few benefits users will find with their user-friendly dashboard provided with this software. They will find that it is easy to navigate.
Like there are a few features to stand out in the software package, there are also a few benefits that stand out. These benefits are as follows.
• FBA inventory replenishment
• Inbound shipments management
• Product analytics
FBA inventory management—when using this part of the software, users can know exactly when to replenish their inventory. The benefit allows users to learn when to replenish the inventory and how many units to reorder. It will boost their profits. The method is a proven model to prevent outages of stock.
Inbound shipping method—with this feature, users can gain insight on all their inbound shipments. They will have a valuation of inbound accounting management.
Product analytics—with this added benefit for the software, users get to analyze much of their data. Some data they get to analyze are data that breaks down sales. Sellers want to utilize this tool because it simplifies end of the month accounting practices. The tool gives accurate inventory information and simplifies the entire process of counting your inventory, then subtracting what you have left from what you sold. There are many more useful insights into this fantastic software.
Starting at 80$/month for 3.000 orders a month you can access the 4 features on the tool. There’s a tailored pricing option for +25.000 orders a month merchants .
14 days free trial. You can cancel any time.
• There are Amazon customers who might have one of your products in their ‘Save for later’ cart. If you are out of stock on that item in the Amazon warehouse, you risk losing that customer. Once a seller runs out of an item, Amazon removes it from the ‘Save for later’ cart.
• When you run out of stock, your product will lose its rank among the Amazon ranking list. What does that mean to you? It means you will have to use promotions to get it jump-started again. These promotions will cost you money to run. So, you will lose potential sales from being out of inventory and more money when you run the sales.
• When you are an Amazon seller, you get free marketing on your behalf. Amazon makes an effort for all its sellers to have the same opportunity to sell. The company will do marketing on behalf of the seller. It alleviates the strain of budgeting for marketing. If a seller runs out of products, Amazon will no longer advertise for the seller. When they get new materials, they can start fresh with Amazon marketing on their behalf again.
• Sellers on Amazon who run out of products are certain to have high ACoS when they have more products in stock. The reason is that it will take a little while for the sellers’ ads to warm up in the system. Once the ads warm up in the system, their ACoS will begin to decrease again.
Besides not running out of inventory, an Amazon seller never wants to have too much stock, either. To have too much stock might drive up the storage costs of having their units stored at an Amazon Warehouse.
Since Forecastly was acquired by Junglescout on 2018, this tool has become one of the best Amazon inventory management tool. Needless to say that it’s pricing is pretty cheap compared to the amount of money you will save by not having stock troubleshooting, specially if you run out of stock on your best sellers.
Running out of stock means losing sales. Losing sales means leads to losing rankings. Losing rankings means losing money and losing opportunities considering that Amazon invests a lot of money on product remarketing.
Overstocking is also a pain for sellers, as you can leave lots of money on the table by having too much stock on your warehouse or on Amazon’s FBA warehouses which means 0.50$ dollars a unit per month and can lead you to a penalization as well. And what about perishable products? Nothing more to add here.
Wether if you are a wholesaler or a private-label FBA seller, Forecastly can help you saving tons of dollars and scale your business faster using it’s automation. At a glance you will be able to see you current orders, your sales ranking, the forecasting for sales and stocks and also your Buy Boxes status.