Forecasting plays a pivotal role in every business, but it is even more crucial for e-commerce resellers where lead times are not always under your control and goods change multiple hands before reaching the end consumer. Budget allocation and demand planning can make or break a business.
Forecasting isn't a one-time task; it's an ongoing process. You have to regularly monitor and adjust your forecasts based on real-time data and market changes.
In today's fast-paced market, understanding customer behavior is crucial. To refine your forecasting strategy, consider new metrics like customer feedback, market trends, and social media signals. These insights can improve decision-making and forecasting accuracy.
A good starting point for Amazon sellers can be Sellerboard. By inputting supplier details and lead times, Sellerboard leverages sales velocity and current inventory for predictions. Tools like Sellerboard employ algorithms that consider seasonality, moving averages, time series, and more to predict quantities.
In my upcoming posts, I will delve deeper into the art of forecasting and share insights into how I execute forecasting for the Amazon reselling accounts I manage.
#BusinessForecasting #FBAWholesale #AmazonSellers #AmazonReselling
I increase the Sales of Amazon Brands | CEO & Founder of E-Com AdsPer| Amazon PPC Geek| Transform your Amazon Brand sales by 97% within 90 days| Obsess with Ads & Books 🤔📚💡
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