TradeGecko allows you to have the right amount of stock at the right time: Never over stock or under stock your inventory again.
Have just the right amount in your inventory
Ever wondered what your optimal stock levels are? Or when you should replenish your stock? Drop these guesses and empower yourself with a system that helps you make strategic, calculated decisions.
TradeGecko, in partnership with Lokad, provides a user-friendly and fully-automated demand forecasting and inventory optimization system. Lokad’s patented technology combines several statistical methods that are well-suited for wholesalers and retailers, giving you accurate forecasts based on real data in TradeGecko.
Put an end to calculating inventory optimization metrics manually
By using TradeGecko with the Lokad add-on (free for up to US$ 450,000 in annual revenues), you can attain these key inventory optimization metrics easily:
Reorder point: the number of units that should trigger a replenishment order
Order quantity: the number of units that should be reordered, based on the reorder point, stock on hand and stock on order
Lead demand: the number of units that will be sold during the lead time
Stock cover: the number of days left before a stockout if no reorder is made
Accuracy: the expected accuracy of the forecasts
Set up reorder points with inventory optimization data
The demand forecasting report for inventory optimization can then be used to set up reorder points for your inventory in TradeGecko, which informs you whenever a stock replenishment is needed.
No statistical knowledge on your part is required, and the data is pushed automatically from TradeGecko to Lokad.
For startups and growing businesses, Lokad can be used right from the beginning. However, the more historical data, the more accurate the forecasts (1 year of data is required to leverage seasonality, and overall 2 years of historical data is considered as good, and 3 years or more is considered as excellent).