Does your Supply Chain software show the health of your business? The new executive summary extends StockIQ's high-level reporting to help executives and C levels understand what is going on in their business. StockIQ's Executive Summary Dashboards provide a high-level view of the health of the business.
The weeks of supply overview provides some high-level information about the weeks of supply of inventory across the business. This can be filtered down to different sites or product group using the filters.
The Summary chart shows current weeks of supply, by inventory dollars. It is bucketed by how many weeks of supply those items have, and a summary grid shows the information in tabular format. The number in each SKUs in each bucket is displayed as well, to see if any issue is due to a few high value items, or many low-value items.
Burn down refers to how quickly it is anticipated that inventory might burn down, given the information currently in StockIQ, such as the forecasted demand and historical demand. Ideally, this chart will show a one-year burn down with many items achieving their target levels within 18-24 months, indicating that overstocks are, at least, manageable.
Last used looks closely at the stock on hand and if it has the potential to move. If many items have not been used for long periods of time and represent large quantities of inventory, then this is a sign some write-offs are required.
Revenue by Usage Pattern
Revenue by usage pattern is an indication of where revenue is coming from. If a large percentage of revenue is coming from sporadic or slow items, this can add some uncertainty to the health of the business's product line.
Opportunity vs Investment
Opportunity vs investment shows where the inventory stands in relation to the target inventory levels. Opportunity is your opportunity for inventory reduction, e.g. you have inventory ABOVE the Target Inventory level, whereas investment represents items where the inventory level is BELOW target inventory level, and therefore cash that must be injected into the business in order to reach target inventory levels, and in turn service level.
For a normal item being planned appropriately, on average you would expect that it would be above its target inventory 50% of the time, and below its target inventory 50% of the time. So, if, for any of your opportunity by A/B/C lines, you see that there is a large skew in the chart, where opportunity and investment are far different from each other, then this indicates those items are not being planned appropriately. For example, if you see your C items have $25,000,000 in Opportunity, but only $5,000,000 in Investment, this means that you are, in general, drastically overstocked on your C items.
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