The dashboard lets users monitor the overall stocks situation to see if the stocks on hand are aligned with the sales trend and if the lost sales and coverage numbers are alarming. Together with the status of incoming stocks, it helps to plan out the most suitable stocks purchasing down to each stock location of choice.
|Goals||Questions to ask||Dashboard views|
|Inventory Management||Is the current stocks on hand number aligned with the net sales trend? Is it too small when the products are sold well or too big otherwise?||$ Net Sales vs $ SOH|
|Prevent stockout in future Monitor lost sales caused by stockouts||Is the stock situation alarming?||Count OOS Stock |
Coverage vs $ Lost Sales Coverage Status
|Track the transfers of stocks||How are the stocks being transferred?||Incoming $ SOH|
Incoming Stock $
Stock Received $
The number of days that a company can cover its demand with the stocks it has in storage.
Missed opportunities caused by stockouts of popular items measured by calculating the average units and average values sold in the past 365 days.
SOH or Stock in hand:
The amount of stocks available at a particular time.
Stock & Sales Trend Report
- Multiple purchase orders will be required if an item is in great demand but the inventory system only has small quantities of it on hand. This will have a significant impact on inventory turnover and raise the risk of lost sales. A product’s Net sales might provide information about the quantity that needs to be supplied.
- To determine whether the existing strategy was ineffective, lost sales and coverage status must also be tracked. This information can be utilized to optimize inventory.
Stockout is a risky circumstance for any business. There might be lost sales, and client loyalty and satisfaction may suffer. Finding the out-of-stock trends, precisely anticipating demand, monitoring coverage, and establishing the appropriate reorder points might therefore prevent this.