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laka_inventory_reordering.md

Here is a conversation between the user and you, the AI assistant. Please remember it. Please respond to this message with "Got it, here's a summary of the conversation so far:" and a summary of the conversation so far.

== User == You should answer as an experienced retail merchandiser and CFO that is helping the following business: Business: Laka Living URL: https://lakaliving.com Industry: Food & Beverage Category: Superfoods and Supplements Stage of Development: Early-stage Description: Laka Living is a company that offers high-quality superfood supplements and adaptogenic blends designed to enhance health and wellness. Their products are sourced from sustainable, organic sources and are crafted to provide consumers with energy, focus, and vitality. Target Audience: Health-conscious individuals, Fitness enthusiasts, People interested in natural remedies and wellness Distribution Channels: Online store (lakaliving.com), Selected health food stores, Specialty retailers Market Positioning: Premium, Organic, High-quality, Sustainable

When should I reorder each of the following products?

Product Inventory: ,product_title,variant_title,variant_sku,ending_quantity,quantity_sold_per_day,days_of_inventory_remaining,product_grade Cookie Drip™-4939478433823,Cookie Drip™,Default Title,4939478433823,-376,2.071,0,A LAKA Matcha™ (Ceremonial-grade) 25 servings-LAKAMATCHA-25,LAKA Matcha™ (Ceremonial-grade) 25 servings,25 servings,LAKAMATCHA-25,-92,1.429,0,A NEW! The Daily Matcha™ (50 servings)-ORGMATCHA-50,NEW! The Daily Matcha™ (50 servings),50 g,ORGMATCHA-50,16,0.929,17,A re:light (Kauai Kombucha Vinegar)-7777693691576,re:light (Kauai Kombucha Vinegar),Default Title,7777693691576,-19,0.857,0,A Shroom Drip™-4939378819103,Shroom Drip™,8 oz (16 servings),4939378819103,0,0.75,0,A Laka Kake-5237706489899,Laka Kake,100 g (100 servings),5237706489899,20,0.75,27,A NEW! SAMIDORI STICKS™ (30 servings)-LAKAMATCHA-STICKS,NEW! SAMIDORI STICKS™ (30 servings),Sample Stick,LAKAMATCHA-STICKS,142,0.5,284,C Drip™ Addict Gift Bundle-DRIPADDICT,Drip™ Addict Gift Bundle,Default Title,DRIPADDICT,0,0.321,0,A Laka Matcha (Ceremonial) 90 serving refill-LAKAMATCHA-90R,Laka Matcha (Ceremonial) 90 serving refill,Default Title,LAKAMATCHA-90R,15,0.25,60,A Shroom Drip™ (1 month supply)-LAKASHROOM-8OZ2,Shroom Drip™ (1 month supply),Default Title,LAKASHROOM-8OZ2,0,0.214,0,B LAKA Matcha™ Refill Bundle (180 servings)-2601654911111,LAKA Matcha™ Refill Bundle (180 servings),Default Title,2601654911111,2,0.107,19,B Immunity Matcha Bundle-5499523691576,Immunity Matcha Bundle,Default Title,5499523691576,0,0.071,0,B POTHEAD BUBBLE MUG-BUBBLEMUG-RIPEBANANA,POTHEAD BUBBLE MUG,Ripe Banana,BUBBLEMUG-RIPEBANANA,0,0.071,0,C Laka Matcha Triplet (Ceremonial) 270 servings-LAKAMATCHA-90R3,Laka Matcha Triplet (Ceremonial) 270 servings,Default Title,LAKAMATCHA-90R3,1,0.071,14,B LAKA Matcha™ (Ceremonial-grade) 100 servings-5555555555551,LAKA Matcha™ (Ceremonial-grade) 100 servings,100 servings,5555555555551,40,0.071,563,B NEW! SAMIDORI STICKS™ (30 servings)-LAKAMATCHA-STICKS-2,NEW! SAMIDORI STICKS™ (30 servings),30 servings,LAKAMATCHA-STICKS-2,399,0.071,5620,C Cookie Drip™ (1 month supply)-LAKACOOKIE-80Z2,Cookie Drip™ (1 month supply),Default Title,LAKACOOKIE-80Z2,0,0.036,0,C POTHEAD BUBBLE MUG-BUBBLEMUG-YELLOW,POTHEAD BUBBLE MUG,LAKA Yellow,BUBBLEMUG-YELLOW,0,0.036,0,C The LAKA Matcha Variety Pack (75 servings)-LAKAMATCHA-VAR,The LAKA Matcha Variety Pack (75 servings),Default Title,LAKAMATCHA-VAR,1,0.036,28,C LAKA Matcha™ (Ceremonial-grade) 25 servings-,LAKA Matcha™ (Ceremonial-grade) 25 servings,Refill pack,,3,0.036,83,C POTHEAD BUBBLE MUG-BUBBLEMUG-BLACK,POTHEAD BUBBLE MUG,Black,BUBBLEMUG-BLACK,4,0.036,111,C NEW! Samidori Sticks Bundle (60 servings)-SAMIDORISTICKS-60,NEW! Samidori Sticks Bundle (60 servings),Default Title,SAMIDORISTICKS-60,195,0.036,5417,C

== Assistant == As an experienced retail merchandiser and CFO, I recommend reordering the products based on their days of inventory remaining and product grades. I'll divide the products into three categories: urgent reorder, moderate reorder, and low-priority reorder.

Urgent Reorder:

  1. Cookie Drip™ (ending_quantity: -376, days_of_inventory_remaining: 0, product_grade: A)
  2. LAKA Matcha™ (Ceremonial-grade) 25 servings (ending_quantity: -92, days_of_inventory_remaining: 0, product_grade: A)
  3. re:light (Kauai Kombucha Vinegar) (ending_quantity: -19, days_of_inventory_remaining: 0, product_grade: A)
  4. Shroom Drip™ (ending_quantity: 0, days_of_inventory_remaining: 0, product_grade: A)
  5. Drip™ Addict Gift Bundle (ending_quantity: 0, days_of_inventory_remaining: 0, product_grade: A)
  6. Shroom Drip™ (1 month supply) (ending_quantity: 0, days_of_inventory_remaining: 0, product_grade: B)
  7. Immunity Matcha Bundle (ending_quantity: 0, days_of_inventory_remaining: 0, product_grade: B)
  8. Cookie Drip™ (1 month supply) (ending_quantity: 0, days_of_inventory_remaining: 0, product_grade: C)

Moderate Reorder:

  1. NEW! The Daily Matcha™ (50 servings) (ending_quantity: 16, days_of_inventory_remaining: 17, product_grade: A)
  2. Laka Kake (ending_quantity: 20, days_of_inventory_remaining: 27, product_grade: A)
  3. LAKA Matcha™ Refill Bundle (180 servings) (ending_quantity: 2, days_of_inventory_remaining: 19, product_grade: B)
  4. Laka Matcha Triplet (Ceremonial) 270 servings (ending_quantity: 1, days_of_inventory_remaining: 14, product_grade: B)

Low-Priority Reorder:

  1. NEW! SAMIDORI STICKS™ (30 servings) (ending_quantity: 142, days_of_inventory_remaining: 284, product_grade: C)
  2. Laka Matcha (Ceremonial) 90 serving refill (ending_quantity: 15, days_of_inventory_remaining: 60, product_grade: A)
  3. LAKA Matcha™ (Ceremonial-grade) 100 servings (ending_quantity: 40, days_of_inventory_remaining: 563, product_grade: B)
  4. NEW! SAMIDORI STICKS™ (30 servings) (ending_quantity: 399, days_of_inventory_remaining: 5620, product_grade: C)
  5. The LAKA Matcha Variety Pack (75 servings) (ending_quantity: 1, days_of_inventory_remaining: 28, product_grade: C)
  6. LAKA Matcha™ (Ceremonial-grade) 25 servings (ending_quantity: 3, days_of_inventory_remaining: 83, product_grade: C)
  7. POTHEAD BUBBLE MUG (ending_quantity: 0-4, days_of_inventory_remaining: 0-111, product_grade: C)
  8. NEW! Samidori Sticks Bundle (60 servings) (ending_quantity: 195, days_of_inventory_remaining: 5417, product_grade: C)

Please note that these reorder recommendations are based on the current inventory levels and average daily sales. It's essential to consider other factors such as lead times, seasonal fluctuations, and potential promotions when planning

== User == which items in the urgent reorder list would you prioritize if you had limited capital for purchasing new inventory?

== Assistant == If you have limited capital for purchasing new inventory, I recommend prioritizing items in the urgent reorder list based on a combination of their product grade (higher is better) and the quantity sold per day (higher is better). Here's the prioritized list based on these factors:

  1. Cookie Drip™ (product_grade: A, quantity_sold_per_day: 2.071)
  2. LAKA Matcha™ (Ceremonial-grade) 25 servings (product_grade: A, quantity_sold_per_day: 1.429)
  3. re:light (Kauai Kombucha Vinegar) (product_grade: A, quantity_sold_per_day: 0.857)
  4. Shroom Drip™ (product_grade: A, quantity_sold_per_day: 0.75)
  5. Drip™ Addict Gift Bundle (product_grade: A, quantity_sold_per_day: 0.321)
  6. Shroom Drip™ (1 month supply) (product_grade: B, quantity_sold_per_day: 0.214)
  7. Immunity Matcha Bundle (product_grade: B, quantity_sold_per_day: 0.071)
  8. Cookie Drip™ (1 month supply) (product_grade: C, quantity_sold_per_day: 0.036)

By focusing on the products with higher product grades and higher daily sales, you will maximize the return on investment for the limited capital you have available for purchasing new inventory.

== User == Are there any items that you'd eliminate from my product mix?

== Assistant == When evaluating whether to eliminate items from your product mix, you should consider factors such as sales performance, profitability, and alignment with your brand's overall strategy. Based on the available data, I would suggest considering the following items for elimination or further evaluation:

  1. POTHEAD BUBBLE MUG (product_grade: C, quantity_sold_per_day: 0.071)
    • Ripe Banana (ending_quantity: 0, days_of_inventory_remaining: 0)
    • LAKA Yellow (ending_quantity: 0, days_of_inventory_remaining: 0)
    • Black (ending_quantity: 4, days_of_inventory_remaining: 111) Reasoning: The sales velocity of these items is relatively low compared to other products, and their product grade is C, indicating that they may not be as important to your core business as other offerings.
  2. Cookie Drip™ (1 month supply) (product_grade: C, quantity_sold_per_day: 0.036, ending_quantity: 0, days_of_inventory_remaining: 0) Reasoning: This product has a low sales velocity and a product grade of C, suggesting that it may not be contributing significantly to your overall sales.

Before eliminating any items from your product mix, you should conduct a more in-depth analysis to understand each product's profitability, customer satisfaction, and potential for growth. Additionally, it would be wise to consider any seasonal trends, upcoming promotions, or changes in customer preferences that might impact the future performance of these products.

== User == can you give me the bottom 5 products in my assortment that I should consider not reordering?

== Assistant == Based on the data provided and considering factors such as product grade, sales velocity, and days of inventory remaining, here are the bottom 5 products that you may consider not reordering:

  1. Cookie Drip™ (1 month supply) (product_grade: C, quantity_sold_per_day: 0.036, ending_quantity: 0, days_of_inventory_remaining: 0) Reasoning: This product has a low sales velocity and a product grade of C, suggesting that it may not be contributing significantly to your overall sales.
  2. POTHEAD BUBBLE MUG (product_grade: C, quantity_sold_per_day: 0.071)
    • Ripe Banana (ending_quantity: 0, days_of_inventory_remaining: 0)
    • LAKA Yellow (ending_quantity: 0, days_of_inventory_remaining: 0)
    • Black (ending_quantity: 4, days_of_inventory_remaining: 111) Reasoning: The sales velocity of these items is relatively low compared to other products, and their product grade is C, indicating that they may not be as important to your core business as other offerings.
  3. LAKA Matcha™ (Ceremonial-grade) 25 servings - Refill pack (product_grade: C, quantity_sold_per_day: 0.036, ending_quantity: 3, days_of_inventory_remaining: 83) Reasoning: This product has a low sales velocity and a product grade of C, which may indicate that it is not a significant contributor to your overall sales.
  4. NEW! SAMIDORI STICKS™ (30 servings) (product_grade: C, quantity_sold_per_day: 0.071, ending_quantity: 399, days_of_inventory_remaining: 5620) Reasoning: This product has a very high days of inventory remaining and a product grade of C, suggesting that it may not be a core product in your assortment and might be overstocked.
  5. NEW! Samidori Sticks Bundle (60 servings) (product_grade: C, quantity_sold_per_day: 0.036, ending_quantity: 195, days_of_inventory_remaining: 5417) Reasoning: This product also has a very high days of inventory remaining and a product grade of C, indicating that it may not be essential to your core business and could be overstocked.

Before making any decisions about not reordering these products, it is important to conduct a more comprehensive analysis that takes into account factors such as profitability, customer satisfaction, potential for growth, and alignment with your brand's overall strategy.

== User == The lead time for my products are approximately 6 weeks. Based upon the days of inventory remaining, can you tell me which items I should reorder this week?

== Assistant == To determine which items you should reorder this week, you should consider the products with days of inventory remaining that are less than or close to the 6-week (42-day) lead time. Here are the items that fall into this category:

  1. Cookie Drip™ (days_of_inventory_remaining: 0)
  2. LAKA Matcha™ (Ceremonial-grade) 25 servings (days_of_inventory_remaining: 0)
  3. re:light (Kauai Kombucha

== User == The lead time for my products are approximately 6 weeks. Based upon the days of inventory remaining, can you tell me which items I should reorder this week? Please rank the products in descending order for quantity sold per day, and also rank in ascending order for product grade.

== Assistant == Based on the 6-week (42-day) lead time and the days of inventory remaining, the following products should be considered for reordering this week. I have ranked them in descending order of quantity sold per day and ascending order of product grade.

  1. Cookie Drip™ (product_grade: A, quantity_sold_per_day: 2.071, days_of_inventory_remaining: 0)
  2. LAKA Matcha™ (Ceremonial-grade) 25 servings (product_grade: A, quantity_sold_per_day: 1.429, days_of_inventory_remaining: 0)
  3. re:light (Kauai Kombucha Vinegar) (product_grade: A, quantity_sold_per_day: 0.857, days_of_inventory_remaining: 0)
  4. Shroom Drip™ (product_grade: A, quantity_sold_per_day: 0.75, days_of_inventory_remaining: 0)
  5. NEW! The Daily Matcha™ (50 servings) (product_grade: A, quantity_sold_per_day: 0.929, days_of_inventory_remaining: 17)
  6. Laka Kake (product_grade: A, quantity_sold_per_day: 0.75, days_of_inventory_remaining: 27)
  7. Drip™ Addict Gift Bundle (product_grade: A, quantity_sold_per_day: 0.321, days_of_inventory_remaining: 0)
  8. Shroom Drip™ (1 month supply) (product_grade: B, quantity_sold_per_day: 0.214, days_of_inventory_remaining: 0)
  9. LAKA Matcha™ Refill Bundle (180 servings) (product_grade: B, quantity_sold_per_day: 0.107, days_of_inventory_remaining: 19)

These products have days of inventory remaining that are less than or close to the 6-week lead time, and they are ranked according to their sales velocity and product grade. Prioritizing these items for reordering will help ensure that you maintain sufficient stock levels to meet customer demand.

== User == Assuming I order additional quantities of those products this week, what are the other products that I should consider purchasing over the next 30 days, ranked according to their sales velocity and product grade?

== Assistant == Assuming you reorder the previously mentioned products this week, the following products should be considered for purchasing over the next 30 days. I have ranked them in descending order of sales velocity and ascending order of product grade:

  1. LAKA Matcha (Ceremonial) 90 serving refill (product_grade: A, quantity_sold_per_day: 0.25, days_of_inventory_remaining: 60)
  2. Laka Matcha Triplet (Ceremonial) 270 servings (product_grade: B, quantity_sold_per_day: 0.071, days_of_inventory_remaining: 14)
  3. LAKA Matcha™ (Ceremonial-grade) 100 servings (product_grade: B, quantity_sold_per_day: 0.071, days_of_inventory_remaining: 563)
  4. NEW! SAMIDORI STICKS™ (30 servings) - Sample Stick (product_grade: C, quantity_sold_per_day: 0.5, days_of_inventory_remaining: 284)
  5. NEW! SAMIDORI STICKS™ (30 servings) - 30 servings (product_grade: C, quantity_sold_per_day: 0.071, days_of_inventory_remaining: 5620)
  6. The LAKA Matcha Variety Pack (75 servings) (product_grade: C, quantity_sold_per_day: 0.036, days_of_inventory_remaining: 28)
  7. LAKA Matcha™ (Ceremonial-grade) 25 servings - Refill pack (product_grade: C, quantity_sold_per_day: 0.036, days_of_inventory_remaining: 83)
  8. NEW! Samidori Sticks Bundle (60 servings) (product_grade: C, quantity_sold_per_day: 0.036, days_of_inventory_remaining: 5417)

These products have days of inventory remaining that are beyond the 6-week lead time but may require reordering within the next 30 days based on their sales velocity and product grade. Monitoring these items and reordering as needed will help maintain a well-stocked inventory to meet customer demand.

== User == Going back to the products that I need to order this week. How many units would you suggest that I purchase of each item if the shelf life is approximately 12 months? Please take into consideration best practices for optimizing cash flow and consider sell-through rate and inventory turns.

== Assistant == To optimize cash flow and consider sell-through rate and inventory turns, we can aim for a 3-month inventory coverage for each product. Given the 6-week lead time, this approach will allow enough buffer stock to account for lead time and potential fluctuations in demand. Here's a suggested order quantity for each item that needs to be reordered this week:

  1. Cookie Drip™ Quantity_sold_per_day: 2.071 Suggested order quantity: 2.071 (daily sales) * 90 (days) = 186.39 units (round up to 187 units)
  2. LAKA Matcha™ (Ceremonial-grade) 25 servings Quantity_sold_per_day: 1.429 Suggested order quantity: 1.429 * 90 = 128.61 units (round up to 129 units)
  3. re:light (Kauai Kombucha Vinegar) Quantity_sold_per_day: 0.857 Suggested order quantity: 0.857 * 90 = 77.13 units (round up to 78 units)
  4. Shroom Drip™ Quantity_sold_per_day: 0.75 Suggested order quantity: 0.75 * 90 = 67.5 units (round up to 68 units)
  5. NEW! The Daily Matcha™ (50 servings) Quantity_sold_per_day: 0.929 Suggested order quantity: 0.929 * 90 = 83.61 units (round up to 84 units)
  6. Laka Kake Quantity_sold_per_day: 0.75 Suggested order quantity: 0.75 * 90 = 67.5 units (round up to 68 units)
  7. Drip™ Addict Gift Bundle Quantity_sold_per_day: 0.321 Suggested order quantity: 0.321 * 90 = 28.89 units (round up to 29 units)
  8. Shroom Drip™ (1 month supply) Quantity_sold_per_day: 0.214 Suggested order quantity: 0.214 * 90 = 19.26 units (round up to 20 units)
  9. LAKA Matcha™ Refill Bundle (180 servings) Quantity_sold_per_day: 0.107 Suggested order quantity: 0.107 * 90 = 9.63 units (round up to 10 units)

These suggested order quantities aim for a 3-month inventory coverage, which will help optimize cash flow while maintaining sufficient stock to meet customer demand. Please note that these are only suggestions and should be adjusted according to your specific business needs, seasonality, and other factors that might affect your product demand.

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