Ensuring maximum product availability for customers with minimal overstock
For online commerce, the availability of the product a customer needs is critical. If at least one of the necessary items is out of stock, the online customer is more likely to abandon the cart and move on to another site. At the same time, 100% availability is sometimes fraught with write-offs if demand is miscalculated.
How this is handled with LEAFIO:
Machine learning-based demand forecasting takes into account most of the factors that affect demand: seasonal and intra-week fluctuations, holidays, promotions, etc.
The automatic replenishment system will order exactly as much product as is needed on a particular day to meet expected demand.
Algorithms will take into account lead times, goods in transit, package size, expiration dates, and remaining goods in stock.
The system will automatically calculate the necessary stock depending on the supplier's level of reliability.
The solution ensures maximum product availability across all channels and helps reduce the abandoned cart share.