Opening new locations often forms part of any retailer's growth strategy, planning for new locations and accounting for the extra demand and inventory requirements can be difficult to keep track of. Toolio provides the ability to add and model new locations after existing locations

Navigate to Settings > Organization Settings > Locations and click on the add button.

Add the required information including the attributes and note the External ID must match the location identifier in the host system of record for seamless integration. To model the new location after an existing location, set

Note* The Like Location must have an opening date for the like for like metrics to be calculated.

After calculation, like for like metrics will be available for the new location, calculated at the factor specified in the new location setup. New location inputs can be adjusted and recalculated as needed.

Like for Like metrics are automatically incorporated into the following functions

Once a new location is created, along with like-for-like store, Toolio will automatically start allocating as long as the new store is added to the Location List assigned to the Allocation Strategies.
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Toolio will start generating forecast for that Location and start Allocating, specifically an initial allocation and replenishment allocations, starting from the Open Date of the store.

If you have store openings / closures within the life time of the product, Toolio automatically takes the increased / decreased sales coming from the store opening in Sales Forecasting.

Below are a few of the nuances of how that works.

If needed, Toolio shows the updated cluster start / end dates within the cluster based on the earliest open date of a store within that cluster.

For example, if the Choice Start Date is W1 2024, but the first store within Cluster A is opening on W5 2024, the Start Date for that cluster will be updated to reflect the open date of the store. See below to demonstrate that:

Toolio forecasts rely on the following calculation to calculate the total sales for a choice.

However, if you have Store Opening / Closings throughout the life of the product, you would need to account for that in the Number of Locations value.
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Accordingly, Toolio has a Weighted Planned Weeks concept. Weighted Planned Weeks is calculated as the number of weeks an average store within a cluster is going to be open for within the life-time of the choice.

Therefore, Toolio updates the Total Sales formula as follows

You can see the calculated value of the Weighted Planned Weeks, under the Offering Set for each Choice.

Now that we have established how Toolio calculates the Total Sales based on Store Openings and Store Closings, next natural question is how the Store Openings and Closings are accounted for on a week by week basis.

Currently Toolio doesn't show the impact of Store Openings and closings on a weekly basis; and that is something we will have on our Q4 2024 / Q1 2025 roadmap. However, the week level granularity on fluctuations due to openings is not needed for most use-cases, since buys are typically placed on a Quarterly or Seasonal basis. Thus, getting the total sales projection accurate (as explained above) is typically sufficient.

Absolutely! You can start with a more descriptive name for external id, and you can change it to the final External Id, once it's finalized.