One of the great benefits of using a warehouse and inventory management software is its ability to keep your inventory organized. Of course this is not done manually, but rather through a set of optimized features designed to make your warehouse more streamlined and efficient. The Replenishment Report within SkuVault is one of these tools built to inform users of their inventory levels that dip below a desired quantity.
Let’s take a look at how the replenishment report works and how some of our clients use it in their warehouses.
What is the Replenishment Report?
The replenishment report is a customizable report SkuVault users run based on sales history or set min/max levels to reorder different inventory quantities when they are running low.
The report allows users to control and replenish inventory quantities across three different report types: reorder, replenish, and assembly in various methods such as sales forecasting, reorder point, and maximum/minimum order quantity (MOQ). Let's look at some examples to illustrate these points.
For example, if you prefer to have 10 of a certain item in stock at all times, but find that you only have three in stock, the replenishment report will notify the user of a low inventory quantity and allow them to click a button to replenish the item quantity. It’s an automatic process set by manual rules.
In another example, if you have an overstock of items in one warehouse but not enough of the same items in the other, the report allows you to create an order to remove quantity from one warehouse. The quantity to be removed will need to be separately added/received to the new warehouse.
Your quantities will then automatically update in SkuVault for you to see the newly available quantity in each warehouse.
How to Use the Replenishment Report
The replenishment report is easy to use inside our app. Simply navigate to the menu on the left, scroll to ‘Reports’ and choose ‘Replenishment Report’ in the drop-down menu. There you will find the workflow to choose your report type, the methodology, and which warehouses you want consider for location.
Within the report you can also filter the channels to replenish, the sales history dates you want replenished, a list of suppliers, and other options built to satisfy a completely unique and specific reordering experience. Once you have chosen all your values, you’re ready to generate a report.
From the report, users can then generate a Purchase Order or pick list within the replenishment report, and now have a ‘Create FBA Shipment’ button option. We do the work for you through our open API. Users click the button and our API works with Amazon’s Seller Central API to return the data customers need.
You no longer have to leave SkuVault and bounce back and forth between Amazon to replenish shipments. We send the information to Amazon for what users want to ship, and Amazon sends back the order/pick list information.
32% of SkuVault clients use FBA
Keep in mind that when you're choosing the method of reordering in the second step, such as MOQ, reorder points, or Just in Time, these are values tied to products in your catalog. The values of these products can affect the results of the report.
*Important note: When using this feature, you must have FBA SKUs set at the Primary SKU in SkuVault.
What Our Customers Are Saying About the Replenishment Report
The replenishment report is one of our most utilized features, and for good reason.
We asked a few of our clients to share with us their experience using the report. Of the clients surveyed, they run the report on average 13 times per week, but some run it more often during their peak season time of the year. SkuVault recommends running the report at least 1-2 times per week.
Team members from Bulk Apothecary, an essential oils and soap making supplies company, told us how the replenishment report helps them reduce stock outs and overstocks in their inventory.
“By using sales forecasting combined with an accurate MOQ, we’re producing the necessary amount of material and not overfilling product,” Senior Inventory Coordinator John Halling said.
“The information on Order Point and MOQ quantities helps my team see the reasons for the suggested quantity to make. The replenishment report allows me to see all the information I need in my department in one report,” Senior Fill Room Supervisor Kevin Barnett said.
“The report made items and products a lot easier to keep in stock and to maintain stock items,” Purchasing Agent Sheldon Triplett said.