The past year has left many businesses dealing with a mountain of unexpected surprises. Between the forced lockdowns, restrictions, and other unforeseen changes small businesses haven’t been able to plan ahead. However, forecasting your business is not impossible. When you are using CobaltConnect, can you manage your business forecasting more frequently, and develop a smoother transition when responding to changes. Here is how CobaltConnect’s predictability tools can help you identify future sales opportunities. It is time to thrive despite unanticipated changes to your liquor business.
Recommended Buy Column
Each time you create a purchase order you review your reports and your sales agent will tell you what you need. Even though this process works for many liquor store owners it doesn’t mean it is the only way it can be done. Right in the My Products module of CobaltConnect is the Recommended Buy column. This column automatically analyzes your stock and the number of units you sold based on the 30/60/90 day time period. What that means is that the CobaltConnect system will review your sales from the last 30, 60, or 90 days. This will let you know what you need to make it through the next 30, 60, and 90 days. No more trying spending hours analyzing what you need or overbuying because that is what you were told you needed.
In Cart Reports
Even though the recommended buy column is an incredible business forecasting tool, CobaltConnect’s predictability features don’t stop there. When you are in your Draft PO module you will be able to see your sales history, changes to the distributor case cost, and post-off amounts. By having these three reports right in your shopping cart you will be able to identify trends in your product sales as well as trends to price changes. In other words, you will be able to not only see the best time to sell particular products but the best time to buy. Meaning your profits and expense totals can only improve.
30/60/90 Day Report
One of the best business forecasting features CobaltConnect has to offer is the 30/60/90 day report. This reporting module gives you back hours of your time. Currently, each month liquor store owners review their records from the last 30, 60, and 90 days to figure out the next 30,60, and 90 days. This process takes hours as merchants have to go through the process product by product. With CobaltConnect all that time will be restored with the 30/60/90 Report. Each month your 30/60/90 day totals are automatically generated saving you hours of your valuable time. It will even show you a year-over-year comparison for each product to help you better identify product sales trends.
These reports are just the tip of the hidden features CobaltConnect has to offer. Keep in mind that if you are currently using CobaltConnect your sales, orders, and inventory need to be accurate in order for these reports to generate accurately. If you need additional help managing your digital inventory please contact the CobaltConnect support team. If you are ready to get started with CobaltConnect don’t wait another minute! It is time to start understanding the health of your business. Help your business’s short and long-term planning with CobaltConnect.