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 Foresight AI was created to help you stay competitive in an unpredictable and challenging retail environment, using algorithmic sales forecasting and automatic inventory replenishment. Combining ForesightAI's algorithmic predictions with your sales history from Cin7 Core, you can reduce your on-hand inventory, eliminate stockouts, and save time ordering just the right quantities to meet demand.

In this article, learn about how Foresight AI integrates with Cin7 Core and how it can benefit your business.

Prerequisites

  • Cin7 ForesightAI must be included in or added on to your subscription.

  • ForesightAI reports require at least 3 months of sales history in Cin7 Core.

Integrate with Cin7 Foresight AI

Cin7 Foresight AI is a paid add-on to your base subscription. Add this to your account by going to Integrations → Cin7 Foresight AI. 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 Foresight AI every 2 hours.

Display inventory health on Dashboard

Foresight AI 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, overstock, and healthy states in each location.

  • The Inventory health and Stock trends dashboard widgets display your stockout and overstock percentage, plus the amount of revenue lost to stockouts via lost sales.

  • The Winners and losers widget shows the stock share and stock value for winners, chaser, and losers. Use the dropdown field to switch between your organization locations.


Enhanced Product Availability Report

ForesightAI enhances the Product Availability Report to give extra information about stock performance and availability.

Generate daily smart reorder suggestions

Cin7 Foresight AI 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. Learn more with Smart reorder suggestions.

ForesightAI reports

We've added several dedicated reports to better understand your inventory. 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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