Tired of constant inventory challenges or want to understand how inventory moves through a market? We’ve built a dedicated inventory dashboard to help you manage inventory effectively and understand inventory trends in the market to predict changes and capitalize on opportunities.
The dashboard provides information on the median weeks carry and the average value of inventory at the category level in each market. Using this dashboard will help Headset users better understand how to stock their stores, how to forecast brand level sales, and how to prepare for events like 4/20 or drastic market changes similar to COVID-19.
The Inventory Dashboard will help our customers gain a better understanding about the levels of inventory currently in the market at the category level. In addition, customers can do trending analysis to understand if inventory level are growing or shrinking over time.
We focus on two main measurements: (1) weeks carry and (2) value of inventory. Headset users can use these to understand how long inventory levels will last as well as determine the current retail value of inventory.
Inventory headaches slow everyone down and lead to losses in revenue and time. The purpose of this dashboard is to give Insights Premium users the ability to review the inventory in the marketplace and get ahead of future sales changes.
Until now, Insights has only provided information on sell-thru product sales. While sell-thru is a great proxy for sell-in, the two numbers aren’t always perfectly correlated. We’ve built this new dashboard so you can gauge how inventory level change both seasonally as well as over time. There are critical questions which can only be answered with sell-in information and this dashboard sets out to begin answering these important questions.
Just like all our Insights data, the Inventory Dashboard data is sourced in real-time from our participating retailers. Find everything in single dashboard that provides the Insights Premium users with the ability to compare data by state or by market.
To get the most out of these dashboards, you need to fully understand these two new measures we’re adding into our Insights platform.
Other key pieces of information about how these dashboards work:
This dashboard displays information for the median retailer connected to Headset. The median retailer is the retailer in the middle of the distribution. For example, if there were five retailers connected that had the following inventory amounts:
The median of this data would be 7 weeks of inventory. We choose this method because these dashboards are meant to give us information about the average retailer in the market, not give us information about the total units in the market. Here we want to learn what a “typical” retailer looks like and that is precisely what the median will tell us.
Sign up for a demo to start leveraging these valuable inventory insights today.