Introduction to Cin7 ForesightAI
Every retail business needs enough inventory in stock to meet sales demand, but wants to avoid tying up resources in stock that won't move. With seasonal variations, event-based sales spikes, long-term trends, and thousands of SKUs on hand, knowing which products are generating most of your profits is a continuous challenge.
Cin7 ForesightAI was created to help you stay competitive in an unpredictable and challenging retail environment, using algorithmic sales forecasting and automatic inventory replenishment. Combine ForesightAI's algorithmic predictions with your sales history from Cin7 Core to reduce your on-hand inventory, eliminate stockouts, and save time ordering just the right quantities to meet demand.
Prerequisites
Cin7 ForesightAI included in your subscription.
ForesightAI requires at least 6 months of sales history in Cin7 Core.
Integrate with Cin7 ForesightAI
Cin7 ForesightAI is a paid add-on to your base subscription. Add this to your account by going to Integrations → Cin7 ForesightAI. It is available for 2 weeks as a trial to test if you like these features before permanently adding it to your account.
Sales data is exported from Cin7 Core every hour and new data is imported from ForesightAI every 2 hours.
Display inventory health on dashboard
ForesightAI adds multiple optional widgets to the dashboard to give you a snapshot of your inventory health at a glance.
The Over/under stock dashboard widget displays the current number of SKUs in stockout (out of stock), overstock, and healthy states in each location.
The Inventory health and Stock trends dashboard widgets display your stockout and overstock percentage, plus the estimated revenue for lost sales because products were out of stock.
The Winners and losers widget shows the stock share and stock value for winners, chaser, and losers.
Select All locations in most widgets and choose a location to see the ForesightAI insights for that specific location.
Enhanced product availability report
ForesightAI enhances the Product Availability Report to give extra information about stock performance and availability.
Track your best selling products with the new Winners column. If a product is a winner in that location, it will have a crown icon.
Stock indicators show if the product is in stockout or overstock for that location.
Generate daily smart reorder suggestions
Cin7 ForesightAI uses your past sales history and its own AI calculations to predict what you should reorder and when. Use smart reorder suggestions to keep your bestsellers maximally available while reducing your stocks of SKUs that don't sell.
ForesightAI reports
We've added several dedicated reports to provide forecasting insights into your stock levels. Find them in the Reports section, under Cin7 ForesightAI reports.
Overstock Report: Use this report to see which items are overstocked and which items are likely to cause stockouts. Recognize overstocked products to reduce inventory on hand and see how many days of sales are required to reduce overstock to optimum inventory levels.
Stockout Report: Use this report to see which items are out of stock or will be soon, when the expected stockout will start and end, and how much lost revenue can be attributed to each stockout.
Sales Forecast: Use this report to forecast sales for up to the next 12 months based on your previous sales history. View expected quantities sold and revenue for each product and location.
Winners and Losers Report: Use this report to see which products drive your revenue generation and should be prioritized. Identify the dead stock SKUs that are rarely sold and tie up your cashflow.