Sage, a global leader in accounting, financial, HR, retail and payroll technology for small and mid-sized businesses, announces the launch of Inventory Planner Essentials, a new tool from Inventory Planner by Sage designed specifically to meet the needs of small merchants.
Inventory Planner Essentials, initially available exclusively on the Shopify App Store, tackles a major pain point for small merchants: excess, unsold inventory. According to a recent Inventory Planner by Sage survey, the typical small merchant in the U.S. has around $48,000 in unsold inventory on hand at any given time. This ties up valuable capital, hindering cash flow and limiting investment in new products and critical business needs. With entry-level demand forecasting and inventory purchasing capabilities, Inventory Planner Essentials makes accurate forecasting and reliable buying recommendations accessible to smaller businesses.
"Inventory Planner Essentials is crafted with the smaller merchant in mind, especially those using Shopify and operating from a single location," says Rob Sinfield, SVP of ERP at Sage. "Rising inflation and interest rates are putting a strain on cash flow, and small merchants can’t afford to tie up capital in unsold inventory. Whether you are a multitasking CEO or the first-ever inventory manager at your company, Essentials takes the guesswork out of inventory management, providing accurate forecasts and data-driven buying recommendations.”
Inventory Planner Essentials addresses significant challenges for small merchants, such as overstocking and stockouts, which can lead to substantial financial losses. With actionable buying recommendations, small business owners can optimize their inventory levels and grow their operations confidently.
Key features include:
- Transparent demand forecasting: This allows small merchants to predict future sales trends with confidence and ensure they have the right amount of stock on hand.
- Clear, actionable buying recommendations: With data-driven buying recommendations, merchants are equipped with actionable insights that ensure they order the right quantity of products and avoid costly overstocking.
- Simplified inventory management: A simple, user-friendly interface makes planning inventory accessible to all users, even first-time inventory managers.
