Have you ever imagined your online or retail store being capable of managing an increasing volatility of customer demand to post profitable balance sheet while your competitors complain of a decline in sales?
This is achievable for e-commerce and retail stores that can combine data analysis and artificial business intelligence in decision making. With the support of a smart forecasting tool like Intuendi, you can stay at the top of the e-commerce divide as you will become prudent in making intelligent demand and supply chain decisions. By integrating Intuendi Demand Forecasting Software in your e-commerce and retail operations, you can effectively predict business conditions as well as:
- Irradiate supply chain tensions
- Concentrate on most profitable products and improve inventory
- Develop effective strategy to upscale the sales of least profitable products
- Upgrade your online marketing and improve results
Cost to consumer, stock availability, ready-to-ship products, capability to deal with demand peaks: these are some of the most prominent reasons behind the success of your commerce business. That’s why you need the support of a smart forecasting tool.
A Demand Forecasting software can’t predict exactly what will happen to your store over the coming months, but it helps you to figure out what direction the business is going. This information allows you to make better decisions and to get the most out of your online or retail store in many aspects of your commerce activity.
The best time to order
Knowing how big is the future demand helps you make better decisions about placing orders with your suppliers. You can choose the best time to place orders and the required stock to satisfy the forthcoming needs.
Prevent out of stock
Out of stocks lead to lost sales and result in poor customer satisfaction. The estimates coming from demand forecasting let you decide the inventory level that will not disappoint your customers anymore.
Boost e-Commerce revenues
Use the demand forecasts to identify which products of your store need a sales promotion. You can decide the cross-selling and upselling strategies on your website according to the sales estimation.