How To Update Lead Times - Understanding The Lead Time Hierarchy
What is a Lead Time?
A lead time is the estimated time it takes for an inventory order to arrive at its final destination from its supplier or vendor. Understanding how to set up lead times and how to apply these lead times to your vendors, products, forecasts, and marketplaces is crucial.
To set up a lead time, you can start on the settings page and click on the Lead Times button. (There is a more in-depth training on setting lead times in another article).
Once you create a lead time, you must assign it to a vendor. A vendor is typically a supplier or manufacturer, but could also be a distributor, etc. Any company that you source inventory from is a vendor. The hierarchy goes:
1. Vendor level
2. Product level
3. Marketplace level
In other words, when you assign a lead time to a vendor, it will automatically assign that same lead time to EVERY product from that vendor. And if that product is selling in multiple marketplaces, it will automatically assign that same lead time to every marketplace for that product.
Of course, you can edit any of this at any time if you need to. We will now show you where to edit your lead times at various levels.
Changing a Vendor's Lead Time
The easiest way to change a vendor's lead time is from the lead time area shown in the screenshot above. Simply click on the lead time and assign a new vendor.
You can also edit a vendor's lead time from the Vendors page. Select your vendor, scroll down to the lead times area and choose another lead time, or edit the existing one.
Changing Lead Times at the Product Level
If one of your products from a particular vendor has a different lead time, you can simply edit that individual product's lead time. Click on the Inventory tab, then select your product. Scroll down and edit the lead time.
You can also change the lead time per product at the Forecast level. From the forecast page, open the product forecast settings and edit the lead time.
From this same page, you can save lead times for a marketplace for that product. For example, this exact same product sells in the USA and also in the UK, but these two marketplaces have different lead times.
So as you can see, SoStocked has covered all of the basis for editing lead times!