Inventory Movement by Product
The Inventory Movement by Products report in Assisty provides valuable insights into the movement of your inventory for each product. By tracking the quantity of items sold, returned, transferred, and the current on-hand inventory, this report allows you to gain a comprehensive overview of your inventory changes. This guide will walk you through the steps to access and effectively utilize the Inventory Movement by Products report.
Step 1: Accessing the Inventory Movement by Products Report
Log in to your Assisty account.
Navigate to the Report Library section.
Select the "Inventory Control" category.
Choose the "Inventory Movement by Products" report.
Step 2: Understanding the Inventory Movement by Products Report
The Inventory Movement by Products report provides a detailed breakdown of the inventory changes for each product.
The report includes the following information for each product
Product Name: The name or identifier of the product.
Beginning Quantity: The initial quantity of items at the beginning of the specified period.
Units Sold: The total quantity of items sold within the specified period.
Units Returned: The total quantity of items returned by customers within the specified period.
Units Received & Adjusted: The total quantity of items received from suppliers or manually adjusted within the specified period. This combines both received quantities and manual adjustments, as we do not have separate information for manual adjustments from Shopify.
Ending Quantity: The current quantity of items at the end of the specified period.
Beginning Quantity + Units Sold - Units Returned + Units Received & Adjusted = Ending Quantity
Step 3: Analyzing the Inventory Movement by Products Report
Review the Inventory Movement by Products report to gain insights into how your inventory is moving for each product.
Pay attention to the units sold to identify products with high demand and fast sales.
Assess the units returned to understand customer return rates and identify any potential issues with product quality or customer satisfaction.
Evaluate the units received & adjusted to track the quantity received from suppliers or any manual adjustments made to the inventory.
Use the ending quantity data to monitor the current stock levels of each product.
Step 4: Taking Action based on Inventory Movement Analysis
Utilize the insights gained from the Inventory Movement by Products report to make informed inventory management decisions.
For products with high sales, ensure timely and sufficient inventory replenishment to meet customer demand.
Address any issues related to product returns by investigating the reasons for returns and taking appropriate actions to improve product quality or customer satisfaction.
Monitor the units received & adjusted to ensure accurate tracking of inventory changes.
Adjust inventory levels based on the ending quantity data to maintain optimal stock levels and prevent stockouts or overstock situations.
By leveraging the Inventory Movement by Products report in Assisty, you can track and analyze the movement of your inventory for each product. This information enables you to identify top-selling products, monitor return rates, track received quantities and adjustments, and maintain optimal stock levels. Ultimately, this empowers you to make data-driven decisions to improve inventory management, streamline operations, and maximize profitability.
Updated on: 12/07/2023