Based on sell through rate, identify products that will be soon out of stock
Make sure you replenish in time
Don't miss out on sales
The "Low stock level products" template gives you a list of the products you have in your store (online or physical store), how many units of these products you sell and how many units of each product you have in your inventory.
Missed sales is one of the main problems you can face as a retailer. You're spending money and energy bringing customers to your shop.
The last thing you'd want is having them wanting one of your products and this product being out of stock.
If that were to happen, you'd effectively miss a sale. Furthermore, this customer might be disappointed with your shop and be less likely to come back.
If you're selling products, whether online or in physical shops. One of the highest leverage things you can do to maximize your sales is make sure you always have your best products in stock.
Thanks to this report, you'll be able to see how many weeks of stocks you have for each of your product. Depending on how much time it takes you to get more units of these products, you can know when you should place a new order.
For example, let's say you're selling iPhones. You're selling 10 units a week, and you have 40 units in stock. That means you have 4 weeks of stock.
If it takes you 3 weeks to receive new units, you should make sure you place an order at the latest in 1 week to not be out of stock (you might want to place the order now to have a buffer).
Easy, no code required
Don't learn a new tool: use spreadsheet features and formulas you already know.
Combine the ease of a spreadsheet with the power of a BI tool. Use SQL queries if you want to.