This feature is available in Webgility Desktop version 18.104.22.168 or later. Currently the feature is only available for QuickBooks Professional, QuickBooks Premier and QuickBooks Enterprise.
After upgrading Webgility Desktop to version 22.214.171.124 you will encounter this screen. This is the start of the wizard to get your system setup with the Forecasting Feature.
The video outlines the feature and some of the setup. You can also watch the video below:
On the screen if you select:
- No, Thank You - You will not see this pop up again. You will have to manually set up your lead times on your SKUs at a later date if you intend to use the feature.
- Remind Me Later - You will dismiss the pop up and it will reappear the next time you log into Webgility Desktop.
- Get Started - This will proceed with the setup wizard and will follow the below screens.
You will now need to setup the lead time for your SKUs. Lead time is the amount of time it takes in days when you order a product from a vendor for you to receive it into your inventory.
If you select:
- No, Skip for Now - A default lead time of 14 days is applied to all of your products. This can be edited at any time later on.
- Yes, Upload file - You can import a csv (comma separated value) file with two columns, one with the SKU and one with the Lead Time (in days). The screens below follow this workflow. An example template file can be downloaded at the end of this article.
From this screen click Upload to browse for your csv and then Next to add it to the software.
Webgility Desktop will analyze the file and display a list of column names with example data. You will need to find the column containing your SKUs and the column containing your Lead Time data and select them the the drop downs.
You are also asked if this information applies to this specific store or all the sales channels you have connected to Webgility Desktop. If your SKUs are the same across all of your sales channels then the All Store option would be selected, if your sales channels have different SKUs or different identifiers for the same items then select Current Store.
Once you have made the above selections click Next.
This icons on this screen link to screenshots of where to find the information in the Webgiltiy Desktop software. This will be covered in more detail below. Click OK.
The Inventory Summary screen displays the results of the import and the value of your Aging Inventory. Here Aging Inventory is defined as a SKU that has not sold in 90+ days. Clicking Show details here will take you to the List Inventory view in the Products Module.
List Inventory View
Now that you have set up inventory forecasting the results will be shown in the List Inventory view. To access the List Inventory view go to Products > All Products, then click List Inventory from within the Products Module.
This screen shares some common elements wit the other areas of the Products Module but has new columns concerned with stock levels.
The new columns are:
- Quantity on Hand
- Total number of units of the SKU from on hand quantity in QuickBooks
- Total Value on Hand
- Combined value of all in-stock units based on the Cost form QuickBooks.
- Quantity in Transit
- Total number of units on Purchase Orders
- Total Value in Transit
- Combined value of all units, which are on Purchase Orders on based on cost from QuickBooks
- Historical Trend (graph icon)
- Clicking this icon will pop up a graph display showing up to three years of sales of the specific SKU.
Additionally there are other columns which are optionally displayed by clicking the display settings in the lower left. Clicking the box to the left will allow these additional columns to display within the List Inventory Screen.
- Annual Usage
- Total number of units sold in the previous 365 days
- Lead Time
- Number of days you have defined to receive more inventory
- Safety Stock
- Suggested inventory amount to reorder the SKU with out running out or over stocking.
To adjust the Inventory Forecasting settings go to the menu bar and select Products, then Settings.
In the pop up screen go to the right most view for Forecast Settings
- Default Carrying Cost Coefficient (%):
- The cost to store the product in your warehouse
- default value 10%
- Default Days Lead time (calendar days):
- Number of days after an order is placed for a product that it take to receive it into inventory.
- default value 14 days
- Default Safety Stock:
- This equation calculates the Stock Level an item needs to be at for you to place an order for more units.
- 1.65 X (lead time)^.5
- Not editable by default , to adjust this calculation speak with your Customer Success Manager to have this customized.
- Default Order Cost:
- This is the cost or reordering your items, not the cost of the items themselves.
- default value 20.00
Adjust Supply Levels
To adjust your default supply levels go to Products > Supply Levels.
This will bring you to the supply levels screen. Here you can edit products individually or import a new csv to adjust products in bulk.
Columns with an Orange header are editable, the remaining are calculated or static values.
You can bulk edit the items here by using the export button in the lower right. This will create a csv template. Use the csv in a spreadsheet editor to modify the values and then import to over write the existing values.