Winners and Losers
Winners and Losers are a simple way of looking at your portfolio as a whole. The more items you sell, the less likely you are to remember all sales numbers for each product alone. At a certain point, it becomes impossible for the human brain to comprehend.
The Winners and Losers feature of the ForesightAI app offers a single page insight into your whole portfolio. It divides all your items into three categories. Winners are the cash cows of your offer. They typically represent less than a fifth of all your products, but as much as 80 percent of your revenue and profit.
Chasers are the strongholds of business. They don't sell very well, nor very often, but they do create the size of your business. They attract buyers to your shop. So they are essential for customer satisfaction.
Losers are your inventory garbage. Nobody buys these. They just sit in your warehouse taking space and holding your cash. You should get rid of these as soon as possible.
If you want to narrow down your view at your inventory you can use filters to divide smaller groups of items into our three main categories. The filters are for warehouse, product category, and then each product individually.
Filtering products come in handy when you want to examine products in different points of sales. What might be a winner in your New York store, could easily be Loser in Amsterdam and a Chaser in Osaka. This also indicates that we treat each product individually dependent on its warehouse location. This applies to all other features in ForesightAI as well.
Service level
The service level determines how available your products are for sale. 100% service level means that of all customers can successfully buy the product. 50% service level means that every second customer goes home without the goods.
FictionSoft ForesightAI sets the service level for the different categories:
Winners have a 99.5% service level. This helps avoid stockouts and accounts for fluctuating sales trends.
Chasers have a 95.0% service level. This helps avoids stockouts, but it is not critical if you are low on stock.
Losers have no service level. Ideally, you will sell out of those products and do not need to reorder again.