Many of you know that I’ve been an Amazon seller for a few years now. And while I’ve been able to solve most of my Amazon-related pain points such as product research, accounting, split testing, and product launches, there’s always been one area that gave me a bit of a headache – inventory forecasting. Inventory Forecasting: The Hard Way Like a lot of people, I used to use Excel spreadsheets for forecasting inventory. And frankly, it was a nightmare. While I love working with Excel, I found that I was always off a little. And sometimes being off just a little bit can end up costing a ton. However, I don’t think a lot of Amazon sellers realize how costly stock outs (and overstocks!) can be to their Amazon business. Why you shouldn’t run out of inventory on Amazon. First, when you run out of inventory, anyone that had your product saved in their cart obviously won’t be able to buy it. And when a product is out of stock, it gets removed from the shoppers cart entirely. So that right there is lost opportunity costs. Next, when your product runs out of inventory, it loses its spot in … Read More
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