How does Optiply deal with new products?

If a product has been sold for 5 days, Optiply can make a forecast for this product.

An important part of your growth is, of course, introducing new products into your range. This always involves challenges, as there is no sales history available for these products. So you will have to adjust the advices yourself.

Definition: As long as a product has less than five days of registered sales, Optiply sees it as a new product.

 

The maximum stock for a new product is always 1. A new product always gets a red dot in the purchase advice. Certainly, when making your first purchase decision, it is therefore important to look at how much you order. After all, if you order too little, you miss out on sales, but if you order too much you have a high chance of dead stock. This decision of course depends heavily on the length of the supply chain (length of your supply chain = order period + delivery time) of your supplier. Two extremes are described below.

 

  • A new product from a supplier where you order daily with a delivery time of two days. For this, the advice of one is probably enough. If the product is sold immediately, another product will be ordered the next day and quickly there will be more than five sales registered to make a recommendation.
  • A supplier where you order once every six weeks with a delivery time of three weeks. This is a much more difficult decision to make. After all, if you buy one piece, which is sold the day after delivery, you will have to wait nine weeks before you can have new stock. To avoid this you will have to order a larger number at the first purchase decision. So it really comes down to your knowledge of the market to make a good decision here. A tip: If you have a long supply chain, try to order more than five pieces for your first purchase order if possible. This will probably result in enough sales for the next order to generate an advice.