Croghan’s Key Challenge with Stock Replenishment
by Khurram Iftikhar
Croghan Homeware Ltd, based in County Wexford, Ireland, is a dynamic player in e-commerce retail. Specialising in homeware products and household appliance spare parts, the company employs a multifaceted sourcing strategy. They secure inventory through partnerships with distributors in Ireland, and Italy, and direct procurements from manufacturers. This approach fuels ongoing expansion, driving collaborations with various suppliers.
The company faced a significant challenge in stock planning, lacking a transparent view of product sales across various marketplaces over specific timeframes, whether weekly, monthly, or quarterly. Without this view, they found themselves unable to strategise the quantities needed for procurement from suppliers and subsequent dispatch to Amazon warehouses. This lack of insight presented a formidable challenge, leaving the client susceptible to the risks of overstocking or potential shortages.
Numla’s Solutions
Tailored Sales Performance Report
To address this pressing need, we developed a tailored report which provides comprehensive insights into the sales performance of each item over defined durations.
Additionally, it allows them to see the ordered quantities from suppliers, aiding in efficient stock replenishment.
Forecasting and Reordering
Leveraging this data, our client gains invaluable foresight into forecasted quantities, empowering them to fine-tune their reordering parameters accordingly, facilitating efficient stock replenishment.
When inventory levels dip below pre-defined thresholds, our system automatically calculates quantities to order and generates Requests for Quotation (RFQs).
Impact
This innovative facility has improved our client's stock management strategy. By enabling precise monitoring and proactive ordering of optimal quantities from suppliers, they can ensure timely dispatch of the right volumes to FBA warehouses, mitigating the risks of over or understocking. With our solution, Croghan navigates the complex landscape of stock planning with confidence and precision.
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