Bridge: Slow Moving Products
Trying to get a pulse check across your stores and see where profit is being left on the table? We created the Slow Moving Products Dashboard to confirm performance and review metrics at a glance to see the sell-through pace of products across all stores.
The types of questions this Dashboard will aid you in answering are:
Which products exceed 30 estimated days remaining?
How much potential profit is lost from lingering stock?
Before building a marketing campaign, knowing these metrics can aid you in deciding your next steps.
Let’s walk through an example to demonstrate.
The Overstocked Stores and Potential Profit Tile will display all stores no matter which Store Name you have selected as your filter. In the example below, we can see Grasstown has a higher Estimated Days Remaining of inventory, whereas The Evergreen State Store’s Inventory holds higher value as indicated by the larger “Potential Profit” Metric. You can retrieve this metric by hovering your cursor over the data points in the tile.
The same data is depicted in the following tile as a data table. You can sort the rows of data to retrieve the store with the greatest Total Potential Profit by clicking on the column header to sort in descending order.
This result prompts us to explore this store further, which you can do by selecting The Evergreen State under the Store Name Filter. This populates the Slow Moving Product List (Store Filter Selection) tile at the bottom of the Dashboard.
This tile sorts Estimated Days Remaining in descending order by default, therefore, the top row of data will show the product that will take the longest to sell through at the current rate of demand. In this instance, the Sitka Bubble Hash has 10 remaining units that will take 240 days to sell at the current rate.
It is also useful to sort this table by Total Potential Profit to see which products have the highest potential value. These products are great candidates for a promotion to move slow-selling products.