Webshops often deploy marketing activities to try to increase sales of their products. Think of TV advertisements, changes to their website, or email campaigns. These activities will influence future demand for the promoted products. Adding this information to Optiply improves your purchase advice.
Promotions allow you to add information to Optiply's forecast data. There are three types of promotions:
Relative promotion
Absolute promotion
"Close-out" promotion
Relative promotion
A relative promotion adds the uplift percentage to the forecast.
For example, when a promotion has an uplift of 40% and the forecasted demand in the promotion period is 200, the purchasing advice will expect a demand of 280.
Absolute promotion
An absolute promotion increases the forecast by the exact uplift.
For example, when a promotion has an uplift of 50 and the forecasted demand in the promotion period is 300, the purchasing advice will expect a demand of 350.
Close-out promotion
The close-out uplift is a particular type of promotion. This promotion assumes you would like to strongly reduce your inventory, but keep the product in stock in small amounts after the promotion*. A close-out promotion makes the purchase advise ignore the forecasted demand.
Just so you know, if you do not want to keep the product in stock, we suggest you phase out the product.
Historical data
When forecasting, Optiply adjusts the historical sales data with the promotions in the promotion period. By adding promotions, the system generates stock level calculations that update almost instantly. The speed of the update depends on the volume of changes made. Once the product's stock levels are processed, it immediately impacts the buy orders.
Setup a Promotion
Go to Promotions > Create promotion
Go to Products > select the products to add to the promotion > click x item(s) selected > click Add to promotion (x) > Save
After adding products to a promotion, you can give them a specific uplift. This specific uplift will overwrite to overall promotions uplift.
Go to Promotions > select the promotion > Edit
For all products with specific uplift fill in the product uplift and uplift type.
You can also add promotion products in bulk. for this, you can use this template as an example:
Here is the csv template:
Create a spreadsheet or CSV file with promotion details.
Make sure that:
Format your data: Make sure the data follows the required structure.
Review and confirm: Check for any errors or warnings.
Save time and manage promotions efficiently with Optiply's bulk import feature.