Overview
The "New Item" and "No Demand" classifications help categorize items based on their creation date and sales history. Understanding these definitions ensures accurate inventory assessment and demand planning, enabling businesses to make more informed decisions.
Additionally, users can now add two optional columns to their view for deeper insights:
Created At: Displays when the item was created in your ERP.
First Usage Date: Shows when the item had its first usage.
These columns provide further visibility into an item's lifecycle and demand trends.
New Item Classification: An item is classified as "New Item" if:
The most recent between its creation and first usage date is within 6 complete months.
This means that newly added products or recently introduced stock will fall under this category, even if they have not yet been sold.
No Demand Classification: An item is classified as "No Demand" if:
It has had no demand (no sales) in the last 12 months.
Items that were previously selling but have not seen any demand in the last year will be included in this category.
Examples of Classification
Event | Date | Pattern |
Item created in ERP | Feb 2, 2023 | New |
First sale | April 4, 2023 | New |
Last sale | May 10, 2023 | New |
Time passes | Dec 1, 2023 | A new demand pattern based on usage, e.g. Sparse |
Time passes | Jun 1, 2024 | No Demand |
|
|
|
Event | Date | Pattern |
Item created in ERP | Apr 12, 2022 | New |
No sales happen for awhile |
| New |
Moved to no demand | November 1, 2022 | No Demand |
First sale | Nov 11, 2022 | New (as soon as next forecast run) |
Continuing sales regularly |
|
|
Time passes | Jun 1, 2023 | A demand pattern other than new or No Demand |
Event | Date | Pattern |
Item created in ERP | Aug 10, 2022 | New |
First sale | August 21, 2022 | New |
Continuing sales regularly |
|
|
Time passes | Mar 1, 2023 | A demand pattern other than new or No Demand |
Why This Matters:
The updated classification ensures more accurate tracking of newly introduced items.
Helps businesses identify items with stagnant demand more effectively.
Supports better inventory and procurement decision-making.