Introduction to Cin7 ForesightAI

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.

Cin7 ForesightAI will calculate new data once a day. It may take up to 24 hours for changes to your inventory to show in ForesightAI.

With Cin7 ForesightAI, you will access a range of features within Cin7 Core to help you manage your inventory health. You can also use the ForesightAI app which has even more forecasting features and settings to tailor your insights, suppliers, products, and more!

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.

Generate daily smart reorder suggestions

Cin7Use smart reorder suggestions


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.

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