# Glossary of Terms

{% hint style="info" %}
*If there are no additional notes, the metrics are calculated based on variant and location dimension.*
{% endhint %}

## **Sales**  <a href="#id-7-days-sales" id="id-7-days-sales"></a>

#### **7 Days Sales** <a href="#id-7-days-sales" id="id-7-days-sales"></a>

The number of units sold in the previous seven days.

#### **14 Days Sales** <a href="#id-14-days-sales" id="id-14-days-sales"></a>

The number of units sold in the previous fourteen days.

#### **Monthly Sales** <a href="#id-30-days-sales" id="id-30-days-sales"></a>

The number of units sold in the last month.

#### **2 Month Sales** <a href="#id-60-days-sales" id="id-60-days-sales"></a>

The number of units sold in the last two months.

#### **3 Month Sales** <a href="#id-90-days-sales" id="id-90-days-sales"></a>

The number of units sold in the last three months.

#### **6 Month Sales** <a href="#id-60-days-sales" id="id-60-days-sales"></a>

The number of units sold in the last six months.

#### **Yearly Sales** <a href="#id-90-days-sales" id="id-90-days-sales"></a>

The number of units sold in the last year.

#### **Sales%** <a href="#sales" id="sales"></a>

Sales% = the number of units sold in the previous 30 days of one variant / number of all units sold in the previous 30 days across all variants

#### **First Sold At** <a href="#inventory-quantity" id="inventory-quantity"></a>

The date when the variant was first sold.

#### **Last Sold At** <a href="#inventory-quantity" id="inventory-quantity"></a>

The date when the variant was last sold.

#### Outlier Sales <a href="#inventory-quantity" id="inventory-quantity"></a>

On the reports, the Outlier Sales column is represented in the format "48 on 2024/05/18". This means that 48 units of sales were eliminated on this date since these sales are outliers.

To get more information about outlier sales, please check [this page.](/bee-forecast-and-replenishment/homepage/forecast-and-replenishment-calculations/outlier-sales.md)

You can see all outlier sales on the [Outlier Sales](https://merchbees.com/forecast-replenishment/outliers) page.

***

## **Sales Performance**

#### **Class** <a href="#class" id="class"></a>

Class shows the sales performance of the variants. “A” Class includes SKUs comprising the top 80% of sales quantity, “B” Class is the next 15%, and “C” Class is the final 5%.

Class is calculated based on sales of the variants on entire store within the last 30 days of sales. It is not calculated location based.

#### **Stock Age** <a href="#inventory-quantity" id="inventory-quantity"></a>

This shows how many days a stock item has not been sold. It is calculated by subtracting the variant's last sold date from today's date.&#x20;

* If the variant has not been sold in the last year, the stock age is calculated based on the date the variant was created.&#x20;
* If the variant was created more than a year ago and has not been sold in the past year, the stock age is shown as 366 days.&#x20;
* For out-of-stock items, a value of 0 is displayed in this field.

***

## **Inventory**

#### **Inventory Quantity** <a href="#inventory-quantity" id="inventory-quantity"></a>

The number of units in stock. Inventory quantity shows the quantity in the "Available" field on the Shopify product page.

#### **Incoming Inventory** <a href="#incoming-inventory" id="incoming-inventory"></a>

The number of incoming units.

#### **Inventory Cost** <a href="#inventory-cost" id="inventory-cost"></a>

Inventory cost is the total value of inventory on hand according to variant or product cost.

*<mark style="background-color:orange;">Inventory cost = cost \* inventory quantity</mark>*

#### **Inventory Price** <a href="#inventory-price" id="inventory-price"></a>

Inventory price is the total value of inventory on hand according to variant or product price.

*<mark style="background-color:orange;">Inventory price = price \* inventory quantity</mark>*

#### Inventory Policy <a href="#location" id="location"></a>

If the item continues selling when out of stock, it shows "continue." Otherwise, it shows "deny."

#### Is Tracked

If the product's inventory is tracked by Shopify, it appears as true. If it is not tracked, it appears as false.

***

## **Forecast & Replenishment**

#### **Daily Forecast** <a href="#daily-forecast" id="daily-forecast"></a>

Projected customer demand shows as sales quantity for a day. You can find more detail on how to calculate the forecast [here.](/bee-forecast-and-replenishment/homepage/forecast-and-replenishment-calculations/forecast-algorithm.md)

#### **Weekly Forecast** <a href="#daily-forecast" id="daily-forecast"></a>

Projected customer demand shows as sales quantity for a week. You can find more detail on how to calculate the forecast [here.](/bee-forecast-and-replenishment/homepage/forecast-and-replenishment-calculations/forecast-algorithm.md)

#### **Lead Time**

The amount of time it takes to order a item from the vendor and receive it into inventory is shown in number of days.

When you change the Lead Time parameter on [Settings](https://merchbees.com/forecast-replenishment/setting) page, [days of stock forecasts](#days-of-stock-forecast) and [replenishment quantities](#replenishment-quantity) are updated in real time.

#### **Days of Stock**

The number of days that inventory should cover.

When you change the Days of Stock parameter on [Settings](https://merchbees.com/forecast-replenishment/setting) page, [lead time forecasts](#lead-time-forecast) and r[eplenishment quantities](#replenishment-quantity) are updated in real time.

#### **Lead Time Forecast**

The number of units that Merchbees estimates will be needed during the specified lead time.&#x20;

*<mark style="background-color:orange;">Lead Time Forecast = Daily Forecast \* Lead Time</mark>*

#### **Days of Stock Forecast**&#x20;

The number of units that Merchbees estimates will be needed during the specified days of stock.

*<mark style="background-color:orange;">Days of Stock Forecast = Daily Forecast \* Days of Stock</mark>*

#### Replenishment Quantity

Replenishment is based on forecasted demand and indicates how many more units are needed in order to meet customer demand. \
\
It takes into consideration inventory quantity, on order or transfer quantities (incoming inventory), continued selling during the lead time (lead time forecast), and how many units are needed to meet demand during the days of stock (days of stock forecast).

*<mark style="background-color:orange;">Lead Time Closing Stock = Max (0, (Inventory Quantity + Incoming Inventory) - Lead Time Forecast)</mark>*

*<mark style="background-color:orange;">Replenishment Quantity = Days of Stock Forecast - Lead Time Closing Stock</mark>*

***

## **Forecast & Inventory** <a href="#stock-cover-days" id="stock-cover-days"></a>

#### **Stock Cover Days** <a href="#stock-cover-days" id="stock-cover-days"></a>

The number of days the available inventory (inventory quantity) will last based on the forecast.

*<mark style="background-color:orange;">Stock Cover Days = Inventory Quantity / Daily Forecast</mark>*

***

## **Product Info**

#### Image

It shows variant's image.

#### **Product Name** <a href="#product-name" id="product-name"></a>

The name of the product shows the name in the "Title" field on the Shopify product page.

#### **Product ID** <a href="#product-id" id="product-id"></a>

The unique ID (identification number) for the product is assigned by Shopify.

#### **Variant Name** <a href="#variant-name" id="variant-name"></a>

A variant is the most granular level of items for sale in your store. This will include the type of the item such as the color or size when available.

The variant name is assigned based on the options that you choose while creating the product and their variants on the Shopify product page.

If you see "Default Title" on the variant name, this product does not have any options like size or color.

#### **Variant ID** <a href="#variant-id" id="variant-id"></a>

The unique ID (identification number) for the variant is assigned by Shopify.

#### **SKU** <a href="#sku" id="sku"></a>

The Stock Keeping Unit refers to a unique code you assign to your variant or product. It shows the code in the "SKU" field on the Shopify product page.

#### **Barcode** <a href="#barcode" id="barcode"></a>

Barcode shows the code in the "Barcode" field on the Shopify product page.

#### **Product Type** <a href="#product-type" id="product-type"></a>

Product type shows the label in the "Product Type" field on the Shopify product page.

#### **Vendor** <a href="#vendor" id="vendor"></a>

The manufacturer, wholesaler, or other vendor for the product.

#### **Cost** <a href="#cost" id="cost"></a>

Cost shows the value in the "Cost per item" field on the Shopify product page.

#### **Price** <a href="#price" id="price"></a>

The price that you're charging for the product. It shows the value in the "Price" field on the Shopify product page.

#### **Status** <a href="#status" id="status"></a>

It shows the status of the product. It can be Active, Draft, or Archived.

#### Tags <a href="#tags" id="tags"></a>

Tags shows the label in the "Tags" field on the Shopify product page.

#### **Created At** <a href="#inventory-quantity" id="inventory-quantity"></a>

The time when the variant was created

#### **Variant Age** <a href="#inventory-quantity" id="inventory-quantity"></a>

It is calculated by subtracting today's date from the date the variant was created.

#### Is Published

If the product is published, it appears as true. If it is not published, it appears as false.

***

## Others

#### **Location** <a href="#location" id="location"></a>

A location is a physical place or an app where you do any or all of the following activities: sell products, ship or fulfill orders, and stock inventory.

If the Location field is "All Locations", all calculations are made based on the total sales or inventory belonging to all locations for your store.

> :wave: If you have a different need for a forecast, please don't hesitate to contact us! We are always here to help!\
> You can say hello with live chat on [merchbees.com](https://merchbees.com/) or send an email to <support@merchbees.com>.


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