Advance Inventory Reports
| Technical name | setu_advance_inventory_reports |
| License | OPL-1 |
| Website | https://www.setuconsulting.com |
In any industry today inventory optimization is a vital function. Inventory excess or shortage at any level of the supply chain can affect the availability of products and/or services to consumers. It is critical to check inventory imbalance between supply and demand dynamics.
We have developed inventory reports to help you to manage your inventory properly. With our inventory reports, users can track Turnover ratio, FSN classification (inventory movement frequency classification), XYZ classification (inventory classification based on stock value), FSN-XYZ combined classification to define sales strategies for the existing inventories. Overstock analysis, Out of Stock analysis and Stock movements (inventory rotation).
Key Features
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Advance Inventory Analysis Reports
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Inventory Turnover Analysis Report
Inventory turnover is a ratio showing how many times a company has sold and replaced inventory during a given period. Calculating inventory turnover can help businesses make better purchasing decisions.Importance of Turnover Analysis
Turning inventory into Cash- Inventory ties up critical cash that could be otherwise used to generate profits. It is critical for a company to analyze inventory turnover by product and determine how to move the inventory faster.
Identify demand uncertainty- Changes in demand drastically affect the ability of a company to make money. If demand drastically decreases, cash will be tied up in unnecessary inventory and warehouse efficiencies will be negatively affected; if demand increases, the lack of inventory will prevent the company to generate additional profits. It is critical for a company to manage demand uncertainty to maximize inventory utilization and maximize profits.
Identify risk of holding inventory- Based on the inventory turnover ratio, users can identify whether the money is invested in the right products or not. To monitor and manage risk turnover ratio analysis is critical.
Prevent overstocking- Overstocking is a nightmare for any business. Cash must be put to work where it can generate the most profit and excessive inventory kills the ability to use the cash anywhere else in the business. Preventing overstock situation is critical to business health.
Advantage of Turnover Analysis
Price stability- Turning over inventory quickly helps you maintain price stability.
Fresh products- By selling efficiently, you can keep fresh new products coming in and regularly rotate items in different display areas to get the attention of regular customers.
Buying power- If you consistently sell products in high volumes, you can order more on each purchase and get better rates. This improves your inventory costs.
Less waste- High turnover also helps you protect against waste from perishable or expired items.
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Inventory FSN Analysis Report
FSN stands for fast-moving, slow-moving and non-moving items. It looks at quantity, consumption rate and how often the item is issued and used. It helps in arrangement of stocks in stores and their distribution and handling methods. The main aim of this analysis is to control obsolescence of the inventories. If there is a rapid change in technology then this classification will have to be updated more often.
FSN analysis is stock turnover ratio based analysis. Stock turnover ratio is defined as the ratio of annual consumption of a material divided by its average inventory. The items can be classified into three categories:
Fast moving (F): items with a stock turnover ratio greater than 3.Slow moving (S): items with a stock turnover ratio between 1 and 3.Non moving (N): items with a stock turnover ratio below 1.
Advantages of FSN Analysis
FSN Classification helps identify dead stock, fast moving inventories.FSN analysis shows the items that are active in your inventory.FSN analysis helps you make smarter buying decisions with suppliers and keep inventory relevant to demandThe non-moving items are surplus to requirements and could be taking up precious real estate in the warehouseSeparate reporting by warehouseUser can filter by companies, categories, warehouses and productsReports can be downloaded in excel formats
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Inventory XYZ Analysis Report
XYZ Analysis is always done for the current Stock in Inventory and aims at classifying the items into three classes based on their Inventory values. The current value of the items / variants in the Inventory alone is taken into consideration for the Analysis and it is not possible to do this analysis for any other dates.First 70% of the total Inventory value corresponds to X ClassNext 20% of the total Inventory value corresponds to Y ClassLast 10% of the total Inventory value corresponds to Z Class.
Advantage of XYZ Analysis
Helps identify inventories investment status.Helps determine if certain inventories require a strategic sales plan.Helps evaluate how each inventory item should be monitored and controlled.
Some inventories are critically important and require close monitoring and tight control.Some inventories are of lower criticality requiring standard controls and periodic reviews of usage.Some inventories require the least amount of control and are sometimes issued as “free stock” or forward holding. - Reporting for each Company
- User can filter by companies, categories and products
- Report can be downloaded in excel format
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Inventory FSN-XYZ Combined Analysis Report
In any industry, not all items are required with the same frequency. Some materials are needed regularly, other items are needed occasionally and some other items may have become obsolete and might not have been demanded for years.
The XYZ analysis when combined with FSN analysis helps formulate more specific strategies. It provides more focused direction on the disposal of specific stock and therefore improve the company’s capital position.
A closing stock theory applied to a combination of XYZ with FSN indicates: if a non-moving (N) item is found in X category (i.e. NX category), the decision is to dispose of the N items by selling them off. It will free up space and increase capital.Advantage of FSN-XYZ Combined Analysis
XYZ analysis when combined with FSN analysis helps formulate more specific s0trategiesFSN-XYZ combined analysis helps identify dead stock or dead investmentFSN-XYZ combined analysis clarifies service levels for items with volatile demandHelps reduce stock obsolescenceHelps improve accuracy of forecastingReduces stock-outs, which:
Improves production stability and efficiencyImproves customer satisfaction - Separate reporting by company
- User can filter by companies, categories and products
- Report can be downloaded in excel format
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Inventory Age & Age Breakdown Analysis Report
Inventory ageing reports tell you the number of days an item has been sitting in inventory based on the receipt date. Having access to this kind of information allows you to make informed decisions when it comes to what and how many products to purchase.
It is critical to identify the stock level and stock age in order to improve purchasing decisions and developing sales strategies. An inventory ageing report is a list of the items on hand grouped by the length of time in inventory. It is used to identify slow moving inventory and understand the additional costs to store/maintain these products until they are sold.Advantages of Age & Age Breakdown Analysis
Allows you to focus your attention on the slowest moving itemsImproves decision making on the timing and quantity of inventory purchases or productionHelps improve the costs incurred during storage to maintain the quality of the goods .Understand how long your products spend in inventory and compare performance against industry benchmarksHow the inventory control system compares to either their own company or competitorsStock age can be analyzed in graphical form (Charts)Stock age data is available in list view to give grouping and searching flexibilitySeparate report by companyCompanies wise separate reportingUser can filter by companies, categories & productsReport can be downloaded in excel format
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Inventory Out Of Stock Analysis Report
Stockouts almost always make it to the “worst nightmare” lists of retailers, and for good reason. Not only do they lead to lost sales, they also result in reduced customer satisfaction and lower loyalty levels.
To overcome Out of Stock issues, this report will help you analyze the number of products that will be out of stock and the quantities you need to have in stock.
This report also helps you identify FSN classification for out of stock products which helps you determine if keeping the stock will be in benefits to you or not.Advantages of Out Of Stock Analysis
Helps measure inventory coverage daysHelps improve the reordering processHelps identify future sales figure for which there are no stockHelps identify required cash flow to restock out of stock productsHelps identify which products are necessary to restock from the FSN classificationHelps identify which products should be restocked using FSN classificationHelps forecast your inventory properlySeparate report by WarehouseUser can filter by companies, categories, warehouses & productsReport can be downloaded in EXCEL format
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Inventory Overstock Analysis Report
Excess inventory is another nightmare for businesses; it locks cash and can lead to major losses. Excess inventories for items that are not active can ruin successful businesses.
This report helps you stop ordering too much inventory which can lead to major losses. It also helps categorize existing inventories in XYZ classification and FSN classification.Advantages of Inventory Overstock Analysis
Combined FSN-XYZ with overstock report helps identify dead investmentExcess inventory report helps determine stock forecasting accuracyIt gives you product specific inventory value and the percentage of the total inventory valueThe excess inventory report helps identify inventories which need close monitoring and tight controlIt helps improve reordering planningSeparate report by WarehouseUser can filter by companies, categories, warehouses & productsReport can be downloaded in EXCEL format
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Inventory Movement Analysis Report
It’s always painful for most of the business to track the inventory movements, especially when you have a large product catalogue or high frequent inventory transactions. This app helps you to track the inventory for specific periods or up to a certain date for all products for all warehouses. Users can filter reports by products category, products, companies and warehouses.Highlights
Opening Stock- Gives you products beginning period calculated stock
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Purchase & Purchase Return
- Gives the total purchase qty & purchase return qty of the products between specific period or up to a certain period
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Sales & Sales Return
- Gives the total sale qty & sales return of the products between specific period or up to a certain period
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Internal Transaction Tracking (In / Out)
- Gives the total internal IN qty & internal OUT qty of the products between specific period or up to a certain period
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Inventory Adjustment Tracking (In / Out)
- Gives the total stock adjustment IN qty & stock adjustment OUT qty of the products between specific period or up to a certain period
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Transit Transaction Tracking (In / Out)
- Gives the total transit IN qty & transit OUT qty of the products between specific period or up to a certain period
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Production Tracking (In / Out)
- Gives the total production qty & consumption qty of the products between specific period or up to a certain period
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Closing Stock
- Gives the ending period calculated stock (closing stock)
- Users can generate report between specific dates or up to a certain date
- Each of the transactions will be captured and give you opening and closing for a defined criteria
- Always gives you calculated real opening balance and calculated real closing
- Capture all possible inventory movements and separately visible all IN transactions and OUT transactions in report.
- Warehouse wise separate reporting
- User can filter by companies, categories, warehouses & products
- Report can be downloaded in well format excel file
Features
FREE SUPPORT
Request free supportWe will provide free support for any issues, queries, and bug fixing upto 90 days from the date of purchase of this application.
NOTE
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