Big sales events are a time of excitement, deals, and increased shopping activity. However, nothing kills the shopping vibe faster than seeing “out of stock” when customers are ready to buy.
For customers, it’s frustrating. For businesses, it’s costly. Every out-of-stock product is a missed opportunity, disappointing shoppers and losing sales.
So how can you forecst inventory, avoid stockouts and make every big sales event a win for you and your customers?
Identifying the Problem: What Causes Stockouts?
Big sales events bring a surge in demand, often for specific bestsellers. Without proper planning, businesses can easily underestimate how much stock they’ll need, leading to empty shelves at the worst possible time.
Some common causes of stockouts include:
1. Over-reliance on Guesswork Instead of Accurate Data
Many businesses make the mistake of relying on intuition or historical trends without using concrete data to forecast demand. This guesswork approach can lead to either overstocking or understocking. Accurate inventory forecasting should based on real-time data and analytics.
2. Delayed Reordering of Inventory
Sellers may fail to reorder inventory on time due to insufficient lead time, slow supplier response, or simple oversight. This can result in inventory gaps and dissatisfied customers. Implementing automated inventory alerts can help ensure timely reordering and prevent stockouts.
3. Underestimating the Impact of Big Sales Events
The holiday season and events like Christmas or 12.12 sales often cause a spike in demand that many businesses fail to anticipate. Relying on regular stock levels can lead to stockouts. A well-prepared business should use sales data, and promotions to forecast demand and adjust inventory accordingly.
Smarter Inventory Management for Every Rush
To avoid stockouts, sellers need to shift from reactive to proactive inventory management. With a reliable analytics system, such as the SiteGiant Inventory Forecasting feature, it helps sellers stay prepared:
1. Estimate stock arrival on time in your warehouse
Plan with confidence! Accurate forecasts provide a clear timeline for when stock will arrive at your warehouse, allowing you to restock on time and meet customer demand. With this, you can avoid delays and ensure your products are always available during peak shopping periods.
2. Low quantity highlight
Spot low-stock items instantly and take action before they run out. You can easily track which products need restocking and prioritize them. This proactive approach helps you stay ahead of last-minute demand surges and minimises the risk of missed sales opportunities.
3. Maintain optimum inventory level
Achieve the perfect balance between supply and demand. You can prevent overstocking, which ties up capital and adds storage costs, as well as stockouts, which lead to lost sales. This keeps your store running efficiently and your customers satisfied.
Start Forecast Inventory Now: Avoid the Big Sales Event Stress
Major sales events are fast approaching, and it’s never too early to start preparing. Smart inventory management doesn’t just help you avoid stockouts—it also boosts your efficiency and enhances your customer experience.
Don’t let “out of stock” disappoint your customers. By planning ahead, monitoring stock levels, and preparing for high demand, you can make every sales event a success for both your business and your customers.
Forecast Your Inventory Starting Today!
Image Credits and References: Freepik
