Online selling brings you closer to your customers. It allows your customers to access your entire inventory within seocnds thereby allowing them to make quick puchase decisions. Because the process of buying is so quick, your customers also expect quick delivery. One way to ensure quick delivery of your products would be to avail Amazon's (Fulfillment by Amazon (FBA) service. It is a service that allows sellers to sign up with an Amazon Fulfillment Centre, so they can stock their product at the Fulfillment Centre and Amazon can take of the rest, that includes, packaging your product when you recieve an order, shipping on time, ensuring safe delivery and also facilitating returns.
Over the years, the FBA service has helped thousands of sellers become successful business owners. To further simplify the selling expereince for sellers and help better their busienss, a new dashboard has been added that can be accessible from Seller Central.
This dashboard will help sellers like you receive restocking recommendations for each of your listings at registered fulfillment centers nearest to the actual customer demand. Each recommendation will include expected order quantity, reorder date (date to place order to your supplier) and inbound shipment creation date.
It considers the following factors while recommending restock quantities to you on Seller Central:
1. Forecasted demand of the product
2. competitive offers from parallel Sellers
3. Regional customer demand distribution
4. Current inventory levels of the offer (both in stock & in-transit inventory )
5. Inbound lead time for replenishment.
6. Offer level procurement parameters configured by the Seller ( such as Reorder frequency with supplier, Number of units per carton,Minimum Order quantity,lead time to procure from Supplier )
How does it work?
Step 1: The tool suggests restock recommendations basis customer demand to your nearest registered FC.
Step 2: Follow the recommendations & stock up accordingly
Step 3: This helps you maintain enough inventory to meet local demand and maximize sales with fast track (Prime) promises of delivery.
Restock Inventory tool’s recommendations helps you to achieve following benefits, while helping you to plan your inventory effectively and efficiently .
1. Place inventory closure to your customer demand location: Effective inventory placement, improves conversion through more prime eligible selections(Next day and 2DD delivery promise availability) with higher gross merchandise sales (GMS). Using these recommendations, you will be able to maintain your regional presence avoiding,huge National shipping charges.
2. No more Out of stock situations : Effectively track and replenish offers which are out of stock or going to out of stock.Maintain desired instock levels,planning inventory effectively and economically.
3. Accurate demand Projections and data intelligence: Recommendations are calculated using sophisticated algorithms and Amazon’s core data intelligence platform, which follows regional demand projections based upon customer’s location, competitive offers from other Sellers, replenishment lead time and procurement settings defined at account/ASIN level.
4. Manage upstream supplier purchase orders effectively with higher fill rate: These recommendations can be fine tuned by configuring suppliers,their lead time,procurement settings( reorder frequency, minimum order quantity,per carton units etc.) and recommends on time to place purchase orders to your suppliers.