Get Forecasting Insights in the Operations Overview

In the midst of supply chain chaos and rapidly changing consumer behaviors, it’s never been more critical to the success of an ecommerce business to forecast inventory needs. 

While many businesses rely on an analyst with a spreadsheet to forecast inventory needs, the information is often siloed and not accessible across the organization. Centralizing forecasting insights allows your entire business, from sales and marketing to operations, to make better business decisions that positively impact your profit margin.

To help you operate your business more efficiently during a time when supply and demand have never been more volatile, we’ve added a new forecasting module to the Tradeswell platform on the Operations Overview page.

Tradeswell Platform Forecasting

Meet Shopper Demands By Forecasting Inventory Needs

Tradeswell’s proprietary forecasting module is a machine-generated, bottoms-up unit forecast. The Tradeswell platform calculates inventory needs daily per retail channel. Only specific user roles and company tiers have access to the forecasting module—check your Tradeswell user permissions in Settings for more information.

When generating your forecast, the Tradeswell platform accounts for seasonality, major US holidays, and ecommerce events. Additionally, the forecast module factors in out-of-stock events, which can impact items with high seasonal volatility.

In the forecast module, you’ll see the Unit Sales Forecast and the Product Details.

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Unit Sales Forecast

The Unit Sales Forecast takes global filters for Groups & Products and Channels (Retail Channels) and includes a granularity toggle with options for Daily, Weekly, and Monthly views. You can set both Product and Channel filters to include all, some, or one of the available sections.

You'll also see a summary bar that displays unit totals for 30, 60, and 90 days. The summary bar shows actual unit sales for a period of time that varies based on selected granularity combined with forecasted unit demand for future periods. 

Historical periods and forecast horizons vary based on selected granularity:

  • Daily Granularity: Two weeks of Actual Unit Sales and 30 days for Forecasted Unit Sales
  • Weekly Granularity: 13 weeks of Actual Unit Sales (approximately one quarter) and 26 weeks of Forecasted Unit Sales (Approximately two quarters)
  • Monthly Granularity: 12 months of Actual Unit Sales and 12 months of Forecasted Unit Sales

Product-Level Forecast

The Product Details table provides product-level forecast details, takes all global filters for Product and Channel, and displays in the same granularity selected in the Unit Sales Forecast visualization (daily, weekly or monthly).

The table displays Actual Unit Sales for the current period (day, week or month), Forecasted Units for the balance of the current period, and Actuals for the same period prior year to provide the user with additional context. Future periods display forecast data and same period prior year data for context.

Easily Export and Share Forecast Insights

You can find Forecast Reports on the Report Export page, but you can only access Forecast Reports if you have Operations or Admin permissions.

Tradeswell Platform Forecasting

How to Use Forecasting to Make Better Business Decisions

When something as little as a paid product placement on an influencer’s story can wipe out your inventory, accurately predicting inventory demand can save you from delivering a poor customer experience via out-of-stock products or sitting on a pile of excess inventory that eats into your profit.

Centralized forecast data fosters cross-functional transparency and collaboration, allowing you to better prepare for seasonal spikes, align inventory availability with marketing campaigns, and track changes in demand. No need to worry about shoppers seeing out-of-stock items or wasting marketing dollars on low-demand products.

Proactive inventory management will also help you maintain inventory availability on marketplaces, such as Amazon and Walmart. In particular, Amazon’s algorithm for ranking product listings is driven by page views, conversions, and sales. Which means if you have an out-of-stock item, Amazon will lower its organic ranking.

Keep an eye out for more features in the forecasting module, including the ability to add your own forecast—coming soon! Log into the Tradeswell platform and start proactively managing inventory with forecast insights.

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