This article describes the process of understanding the amount of stock currently available using the Inventory on Hand tab in Fourth Analytics Inventory & Requisitions dashboard.
This tab shows current calculated (theoretical) stock on hand of individual Products, as of the previous day, displayed in Inventory units. Stock Holding in days is also provided, based on stock usage in the last period. Information displayed is as of the previous day, and no date filters are available to view historic data.
Please Note: If Deliveries, Requisitions, Transfers, or the last inventory count were not correct, reports may display negative stock on hand figures.
Inventory on Hand
This table shows the current Inventory on hand measured in Inventory units, for each Product by Property and Outlet.
Please Note: If the Segment, Category or Subcategory columns displays (empty value), this is because these fields have not been completed for these Products.
Fig.1 – Inventory on Hand Table
Current Inventory on Hand Days
This table displays the Product on-hand quantity as above, the Product usage quantity for the last period, the usage per day, and the calculated ‘on hand days’ based on Inventory quantity and usage per day. No information will be displayed if there was no Product usage in the last period.
Fig.2 – Current Inventory On Hand Days
This example scenario outlines the process of identifying Products which may be over-stocked in a particular Location, and where they could be re-distributed to better utilise stock holding, using the tables outlined above.
- Set the filters based on particular area or Product Type as required
- Scroll down to the Current Inventory on Hand Days table and sort highest to lowest by on-hand days
Note the Products with, for example, more than 1 year’s stock on hand, and apply a filter on that Product name
- Please Note: Product IDs will contain different pre-fixes according to Property. If filtering on Product ID, use only the central number, not the prefix, if stock at more than one Property is to be displayed
- Scroll down to the Current Inventory on Hand Days, and see which other areas also stock this Product, and the consumption for the last period. If the stock on hand in the slow moving Location is a whole unit or more, the stock could be moved to a Location where it is moving faster