Overview

The Lost Sales Report is a tool used to track instances where a potential sale was not completed for various reasons. This report helps businesses understand why sales opportunities were missed and identify areas for improvement in their processes.

Accessing the Lost Sales Report

• To access the Lost Sales Report, navigate to the Parts Module.

• Locate the section where you can view or manage individual parts under the Pricing / Qty tab where you will find the Record Lost Sale button.
• 

Recording a Lost Sale

• Once you clicked on the "Record Lost Sale" option to record a lost sales event for that particular part, a pop-up window will appear asking you to enter the lost sale quantity:

Entering a Reason for the Lost Sale

• After selecting the "Lost Sale" option, a dialogue box will appear asking for a reason code:
  • B damage during delivery
  • F Price too high
  • Y part was broken.

• Choose the appropriate reason from the provided options if necessary.

Submitting the Lost Sales Information

• Once you have entered the reason for the lost sale, include a comment if needed.
• Finally click ok 

Reviewing the Lost Sales Report

• After recording lost sales events for various parts, you can generate a Lost Sales Report.
• Access the reporting section of the Parts Management System and locate the option to generate a Lost Sales Report.
• Specify the desired time frame or parameters for the report, such as a specific date range or part category.
• Run the report to view a summary of all recorded lost sales events, including the reasons provided for each instance.

Analyzing the Lost Sales Data

• Review the Lost Sales Report to identify trends or patterns in the reasons for lost sales.
• Use this information to make informed decisions about pricing, inventory management, customer service improvements, or other areas of the business.
• Consider implementing strategies to address common reasons for lost sales and minimize future occurrences.

Conclusion

The Lost Sales Report is a valuable tool for businesses to track and analyze missed sales opportunities. By recording and analyzing the reasons for lost sales, organizations can identify areas for improvement and implement strategies to increase sales effectiveness and customer satisfaction.