Expiration in days
Some products have an expiry date, or a limit on how long you can store/sell it. For example, milk expires within a few days or a medication might expire in a year. With ForesightAI, you can focus on storing exactly what you need for sales, and reducing expired or spoiled inventory.
In the Edit Arena, you can set the maximum amount of time a product can stay on your shelves (e.g. Yoghurt a maximum of 30 days) in Expiration in days. ForesightAI will adjust your replenishment suggestions to prevent goods expiring. This might mean more frequent purchase orders with less stock to prevent wastage.
Set the Expiration in days
You can add the Expiration in days in the Edit Arena. The Edit Arena is an advanced inventory management tool with settings for each product.
Select your user profile and then Edit Arena.
Select your Edit Arena filters so the SKU (or multiple SKUs) appears in the Edit Arena. For example, click the Product filter and then enter the SKU you want to update.
Add the Expiration in days for each SKU. You may need to add this field to the table by selecting Show/Hide.
Bulk update Expiration in days
You can add the same Expiration in days to all products in the list.
In the Edit Arena, add the Expiration in days in the top row and then select For all.
Check the Save this rule for future edits if you want to set this for all future changes for these products.
Select Confirm to bulk update the Expiration in days.
Expiration in days and safety stock
ForesightAI tries to add a buffer or safety stock when managing optimal inventory levels. This extra stock helps account for uncertainties in sales and supplier lead times and helps prevent stockouts. However, products with Expiration in days can fall below the safety stock levels to ensure items are sold before they expire.