Every year, stockouts cost online retailers billions of dollars in lost sales. Stockouts lead to lost sales opportunities that may never come back.
Fortunately, there are FBA tools that will help you monitor your inventory so that you stay on top of consumer demands and avoid going out of stock. Today, we will compare two such tools – RestockPro and Forecastly.
RestockPro is a product from eComengine. It’s a powerful Amazon seller tool and FBA software. With this tool, you can streamline your FBA inventory management, get reliable inventory forecasting, and restock suggestions.
Hence, the tool was launched to ensure Amazon sellers don’t run out of stock and also to help them maximize profit.
You can use RestockPro on 10 different Amazon marketplaces. This includes the United States, United Kingdom, Australia, Canada, France, Germany, Italy, Mexico, Netherlands, and Spain.
So far, Amazon merchants have used this tool to power sales amounting to more than $1.8 billion. It’s one of the best FBA tools for sellers as it’s easy to use..
It’s crucial to stay on track of your profits. Keeping track of your sales, expenses, and revenue will help you stay organized so that you don’t end up losing money.
RestockPro will automatically track your expenses and sales for you, including costs such as:
- Inbound shipping fees
- Reshipping fees
- Repackaging and refund fees
- FBA fees
- And more
Since everything is done automatically, you can avoid making miscalculations due to human error. RestockPro will analyze data for each SKU.
In addition, you can aggregate your data by generating a SKU report that can be sorted by key criteria, such as total profitability and estimated margin percentages.
By choosing the right criteria and sorting your results from lowest to highest, you can see a list of the products that have the least satisfactory performance. You can then stop investing in these products.
RestockPro keeps track of your inventory for you. Inbound and outbound shipments are all taken into account so that your current inventory is up to date.
On your dashboard, you will see a daily list of recommended reorder suggestions. RestockPro takes both your average daily sales and current inventory into account to help you figure out the best time to reorder an item so that you do not go out of stock.
Reordering a new batch is easy. With just a few clicks, you can send your order to your supplier.
You can also customize your reorder form by adding columns or custom notes.
RestockPro will automatically ensure that the correct number of items was ordered and track your inbound shipments to ensure that they arrive. When they do arrive, it will be registered in the RestockPro system.
You can also enter discounts, shipping costs, and other notes into the inventory tracking system. This can help you get accurate reporting even when you are running limited-time sales.
You can also see the purchase history of products on a SKU-level.
When using FBA, it is important that the correct amount of stock is shipped to local FBA warehouses so that you can fulfill consumer demand. This can be a hassle if you are using old-fashioned methods.
However, RestockPro makes it easy for you. They will give you a list of recommended products to ship, along with how much you will need to send to the Amazon warehouse.
They will even let you print out shipping labels, as well as expiration date labels for perishable items. Then, the shipment will be tracked and you will be able to see updates as it is received by Amazon.
All the details that Amazon requires on shipping labels will automatically be filled out. You can also add optional lines, such as SKU, ASIN, and UPC data.
You can also print custom labels using services such as Dymo or Zebra.
In addition to printing labels, you can include box content information such as product quantities and expiration dates straight from RestockPro. This is done using 2D barcodes (just inform Amazon that you will be using 2D barcodes when the shipment arrives).
This way, you will be able to notice any discrepancies or items that are still pending arrival at Amazon.
The Inventory Turn report displays sales and turns ratios for products. This can be used to determine if you’re stocking things efficiently. The data can also help you know if you need to take measures to avoid running out of stock or accumulating long-term storage fees.
The number of times your inventory rotates through the Amazon Fulfillment Center in a specific time is known as the turn or inventory turnover. Hence, RestockPro reveals how frequently you sell and replenish your goods.
A high inventory turn ratio indicates that units are selling quickly, whereas a low inventory turn ratio indicates that units are unsold for a long period and you have excess inventory. You can find the Inventory Turn Report in the Dashboard’s Reports section.
This report allows you to evaluate the performance of SKUs from different suppliers and get product aging statistics from each. To view the supplier performance report, go to the Reports area on the left side of your Dashboard and select Supplier Performance from the drop-down menu.
If you discover that SKUs from a particular supplier are aging faster than the others or have a low sales velocity, the items may be having problems or are of poor quality, resulting in dissatisfied customers hence reducing sales.
If you discover that SKUs from a certain supplier have a low estimated margin, check to see if you’re taking advantage of all available discounts from them and that your Amazon prices are correct.
With RestockPro, you can create product kids or bundles. This allows you to sell several items at once, which has a few advantages.
First of all, since you will be using only one SKU, you will reduce your Amazon fees. For example, if you are selling three items with one item sticker, you will pay one fee instead of three.
It can also allow you to increase your sales by selling more items to the same customer base. It can also help you stand out from other sellers as you will be offering unique product bundles.
Building a bundle is easy – just go to the Kits section, create a kit, and add items.
RestockPro comes with the Kit Optimizer. This is a tool that analyzes your sales to recommend kits to you that have the best profit potential.
eComEngine can be reached by mail or phone. You can contact them on Facebook, Instagram, and Twitter.
You can also fill out a form on their site to send them a message and get a reply via email.
The help center has many useful articles and guides for issues such as getting started, setup, best practices, billing, and account settings.
RestockPro has several plans. All plans include all features – the difference is how large your ecommerce business is.
- Starter – $99.99/month: One user, 1,000 FBA orders, 10,000 active SKUs
- Pro – $139.99/month: Three users, 2,500 FBA orders, 10,000 active SKUs
- Premium – $249.99/month: Five users, 7,500 FBA orders, 10,000 active SKUs
- Ultimate – $399.99/month: 10 users, 20,000 FBA orders, 20,000 active SKUs
Then there is the customizable Enterprise plan. It allows for 10 users and 20,000 active SKUs, but the number of FBA orders can vary:
- 35,000 SKUs – $599.99/month
- 50,000 SKUs – $799.99/month
- 75,000 SKUs – $1099.99/month
- 100,000 SKUs – $1349.99/month
- 150,000 SKUs – $1799.99/month
- 200,000 SKUs – $1999.99/month
- 250,000 SKUs – $2299.99/month
- 300,000 SKUs – $2499.99/month
All plans offer a free trial. You can also request a demo without signing up for a trial.
Forecastly is described as a predictive analytics, and demand-forecasting tool for Amazon business. The tool is for both wholesale sellers and private label sellers.
With Forecastly, you can increase your margins as the tools help you forecast sales, know when you should purchase new inventory, the ideal quantity to order, and it lets you track your shipments.
Forecastly works relatively fast and it is even recommended by Jungle Scout founder. You can get product forecasts in just a few seconds. You’ll never miss any update as the tool sends you reorder alerts immediately it’s time. It supports Amazon US, UK, Canada, and Mexico.
Forecastly helps you save time by intelligently predicting what future demand will be. You will get a spreadsheet listing all of your products and SKUs, the supplier you are using, how much you need to order (according to Forecastly’s estimate), and how many days you have left until you should place your order.
You will also automatically get alerted to place your order at the right time. This way, you can avoid stockouts and always have your product in stock to satisfy your customers.
Forecastly also predicts seasonal demand. The demand for seasonal products, such as holiday products (think Christmas decorations and Halloween costumes) or clothing/gear can sometimes be difficult to predict.
Forecastly uses hard data to figure out exactly when you should start ordering stock for an upcoming season and how much you should stock up on. This is important – for some businesses, seasonal sales can make up the majority of their profits.
Your dashboard will contain all of the important information you will need to know.
You will get monthly snapshots of your inventory so that you can quickly assess where your money is going and what it is being spent on.
Stay on track of your inventory costs so that you are aware of when you are spending a lot of money on a single supplier. This can allow you to find a better supplier at a lower price or negotiate bulk discount deals.
You will get detailed reports about your sales rankings and more. You can customize your reports so that you see only the data that is important to you.
Forecastly also tracks your inbound shipments for you. A common issue FBA sellers deal with is having outstanding shipments, where Amazon owes them money.
It can be difficult to keep track of all of your outstanding shipments and submit your reimbursement claims to Amazon if you are tracking your inventory manually. An automated system such as Forecastlty makes it much easier.
With Forecastly, reordering stock is easy. Not only will you know what you need to order and when you need to order it, but you will easily be able to create purchase orders and send them to suppliers.
Forecastly also makes it easier to stay organized and build supplier relationships.
Forecastly is designed for Amazon FBA sellers. Whether you are a wholesale seller or a private label seller, you can benefit from its services.
You can contact Forecastly’s customer support team by sending an email to email@example.com.
They also have a blog with useful tips on how you can improve your Amazon FBA success.
Forecastly has a 14-day trial. Following are the plans that it offers:
- Pro – $99/month: 3,000 orders a month
- Expert – $199/month: 15,000 orders a month
- Smart Enterprise – $299/month: 25,000 orders a month
- Larger Enterprise – custom plan: 25,000+ orders a month and a dedicated account manager
Note: You can sign up for yearly billing to get 20 percent off each plan. For example, the Pro plan will be $80/month and the Expert plan will be $160/month.
Whether you prefer RestockPro’s or Forecastly’s interface, using an inventory management software is crucial for the success of your Amazon business.
Here are some of the benefits you can get out of using an inventory management software.
The benefit that will immediately come to mind will be avoiding stockouts. This is another term for an item being out of stock when a customer wants to place an order.
Having an item out of stock will often cause consumers to switch to a competitor. This is especially true on Amazon, where there is a wide range of choices available with a few clicks.
Stockouts can cause a drop in sales. If you rely on seasonal sales to make the most of your profits, this drop in sales can have a significant impact.
In addition, stockouts can cause a drop in consumer confidence and loyalty.
At the same time, you don’t want to order too much stock. Using an inventory management forecasting software such as RestockPro or Forecastly will allow you to get an accurate assessment of how much stock you will need.
Ordering too much stock can cause you to have leftover products that you must get rid of or sell at a loss. If you are dealing with perishable items or seasonal items, this can be especially detrimental for your business.
Storage can be expensive. If you don’t know how much stock to order, you can end up paying too much money for storage, which can eat into your ROI.
With an inventory management software, you can get an accurate idea of how much storage you will need and automate the ordering process so that you save money on storage.
It is important to stay on track of where your inventory is at all times – how much has been shipped out, and how much still needs to arrive at the Amazon holding facility?
With software such as Forecastly and RestockPro, you will know exactly where all of your products are. It can help you file a reimbursement claim to get your money back.
For example, Forecastly keeps track of the products in both your warehouse and the products that you have at the FBA facility. It then recommends how much needs to be transferred and keeps track of the shipment statuses.
In case RestockPro or Forecastly doesn’t suit your fancy, you can sign up for any of the many other Amazon inventory management tools available. Below are some of the best RestockPro and Forecastly alternatives.
Sellbrite is a comprehensive ecommerce management software that lets you work with multiple sales channels at once, including Amazon, eBay, Walmart, Etsy, Newegg, Shopify, and more.
If you want to expand the focus of your business beyond Amazon FBA, Sellbrite is a great tool to use. You can create listings on multiple channels at once. According to Sellbrite, merchants who sell on more than three channels have a 156 percent higher sales rate.
When updating your listings or changing your prices, changes will be synced on all of your channels at once.
Sellbrite automatically syncs your listings based on your inventory so that you are not selling a product when it is really out of stock.
Sellbrite also lets you print shipping labels and send out shipments from a single interface. Alternatively, you can route shipments through Amazon FBA.
You will get detailed reports with data from all of your sales channels.
A good alternative to Sellbrite is Orderhive. Orderhive lets you work with multiple channels at once as well.
You can manage order workflows from warehouses and deal with different currencies. Orderhive integrates with over 200 carriers to offer you affordable shipping options with real-time shipping tracking and updates.
Inventory can be managed from a centralized dashboard. You will get detailed reports about your stock and the performance of the products you are selling.
There are barcode systems to help you keep track of your products. You can create purchase orders easily and send them to suppliers.
Inventory Lab is another software that focuses exclusively on Amazon sellers. It has two parts – Stratify and Scoutify.
Stratify is a desktop application that lets you research the best products to sell on Amazon. Get detailed data about niches and products so that you can decide whether it would be worth your time to invest in them.
Once you’ve decided what you want to sell, you can use Stratify to create listings, print shipping labels, and add products to your FBA shipments.
Stratify will keep track of your costs so that you know how much profit you are making. Every expense will be tracked and accounted for.
See your entire inventory at a glance and see your current inventory stock value, sales value, and more.
You will get detailed reports about the performance of the products you are selling to help you determine which ones are profitable.
Scoutify is an app that lets you scan products from your phone. You can see how much your potential profit will be, the product’s historical sales, key product details such as rank, and more.
Both RestockPro and Forecastly offer similar features.
However, in terms of pricing, Forecastly will let you manage a lot more monthly orders at a much lower price, especially if you sign up for yearly billing.