What' are Planned Products?
You’re planning new product launches in the dark.
You work hard creating new products, but planning each launch feels like guessing.
How do you know how much to order for a new product? Without purchase history to base yourself off of, you don’t know how much to order from your suppliers. Different members of your team have contradicting opinions on how much a new product will sell.
You aren’t sure what data should guide your decision-making and you order too much or too little of new products. When you order too little, you give your customers a negative brand experience whereas, when you order too much, your cash flow is compromised. Either way, this costs your business a lot and your working capital isn’t used optimally.
Move beyond guesstimates and plan new product launches with confidence.
Plan for new product launches with more certainty.
With Cogsy, you can:
- Rely on a tool that takes care of helping you plan and order your new products with conviction.
- Know how much to order of a product you’ve never sold.
- Stop worrying about misusing your working capital.
- When launching a new product, pick products with similar characteristics and Cogsy will take the hassle out of calculating how much you’ll need.
- Select similar SKUs to generate predicted sales data for the first 30, 60, 90 days.
- Cogsy uses their product history and sales history and applies growth factors to generate predictions around new product’s future sales.
- Factor in lead times to order your product at the right time.
- Plan products launches for a single SKU or SKUs with multiple variants.
- Add new product launches to the Marketing Events calendar, making your planning holistic across all levers that drive your growth.
- Make better, more proactive decisions around new products.
Set yourself up for success in the upcoming year.
Map out your new product launch scenarios, so you can prepare accordingly.
- Base your product launches off of different related SKUs to model different growth scenarios.
- View how much your new products are expected to sell in the first 30, 60 and 90 days.
- Negotiate better terms and rates with your vendors.
- Plan better product launches and order the right amount of product.
- Avoid ordering too much or too little of your new products.
- Free up working capital for growth channels.
- As a result, thrive.