Inventory Value Metrics
The Inventory Value Metrics in Assisty allow you to monitor and analyze the value of your inventory, providing valuable insights into the financial aspect of your business. This guide will walk you through the reports available to track inventory value: Inventory Value by Location, Inventory by Product Variants, and Inventory Value by Product.
Log in to your Assisty account.
Navigate to the Report Library section.
Select the "Inventory Control" category.
Choose the specific report you want to access:
Inventory Value by Location: Tracks the inventory value across different store locations or warehouses.
Inventory by Product Variants: Displays the inventory quantity and value for each product variant.
Inventory Value by Product: Provides an overview of the inventory value for each product.
Inventory Value by Vendor: Shows the inventory value by vendor.
Inventory Value by Location
This report shows the inventory value for each store location or warehouse.
It helps you assess the distribution of inventory value across different locations and identify areas of higher or lower value.
The report displays the store name, inventory value, and percentage of the total inventory value for each location.
Inventory by Product Variants
This report provides insights into the inventory quantity and value for each product variant.
It allows you to track the value of individual product variants and identify high-value or low-value variants.
The report includes the product variant name, inventory quantity, inventory value, and retail value.
Inventory Value by Product
This report gives you an overview of the inventory value for each product.
It helps you identify products with high inventory value and evaluate their financial impact on your business.
The report presents the product name, inventory value, and retail value.
Please note that the inventory value for historical dates before the installation of our app is not available. In such cases, the inventory value is calculated based on the current inventory quantity and the sales history data available since the installation of the app. This estimation allows you to have a comprehensive view of the inventory value, even for periods before using Assisty.
Inventory Value by Vendor
This report shows the inventory value by vendor.
It allows you to analyze the inventory value associated with each vendor and identify the contribution of different vendors to your overall inventory value.
The report includes the vendor name, inventory value, and percentage of the total inventory value for each vendor.
Review the inventory value data provided in each report to understand the financial standing of your inventory.
Identify store locations or warehouses, product variants, products, and vendors with higher or lower inventory value to gain insights into the distribution of inventory value.
Use this information to optimize your inventory management strategies, such as prioritizing stock replenishment for locations or variants with high inventory value or evaluating the performance of different vendors based on their inventory value contribution.
Utilize the insights gained from the inventory value reports to make informed decisions regarding stock management, pricing, vendor relationships, and product selection.
Optimize inventory allocation based on the value contributed by different locations, variants, products, and vendors.
Identify opportunities to reduce inventory value by addressing slow-moving or obsolete products, optimizing vendor partnerships, and implementing effective pricing strategies.
Leverage the data from the inventory value reports to drive profitability and ensure efficient inventory control.
By utilizing the Inventory Value Metrics in Assisty, you can effectively track and analyze the financial aspect of your inventory. These reports provide valuable insights into the distribution of inventory value, help identify high-value or low-value products, locations, and vendors, and enable data-driven decision-making for optimal inventory management.
Step 1: Accessing the Inventory Value Reports
Log in to your Assisty account.
Navigate to the Report Library section.
Select the "Inventory Control" category.
Choose the specific report you want to access:
Inventory Value by Location: Tracks the inventory value across different store locations or warehouses.
Inventory by Product Variants: Displays the inventory quantity and value for each product variant.
Inventory Value by Product: Provides an overview of the inventory value for each product.
Inventory Value by Vendor: Shows the inventory value by vendor.
Step 2: Understanding the Inventory Value Metrics
Inventory Value by Location
This report shows the inventory value for each store location or warehouse.
It helps you assess the distribution of inventory value across different locations and identify areas of higher or lower value.
The report displays the store name, inventory value, and percentage of the total inventory value for each location.
Inventory by Product Variants
This report provides insights into the inventory quantity and value for each product variant.
It allows you to track the value of individual product variants and identify high-value or low-value variants.
The report includes the product variant name, inventory quantity, inventory value, and retail value.
Inventory Value by Product
This report gives you an overview of the inventory value for each product.
It helps you identify products with high inventory value and evaluate their financial impact on your business.
The report presents the product name, inventory value, and retail value.
Please note that the inventory value for historical dates before the installation of our app is not available. In such cases, the inventory value is calculated based on the current inventory quantity and the sales history data available since the installation of the app. This estimation allows you to have a comprehensive view of the inventory value, even for periods before using Assisty.
Inventory Value by Vendor
This report shows the inventory value by vendor.
It allows you to analyze the inventory value associated with each vendor and identify the contribution of different vendors to your overall inventory value.
The report includes the vendor name, inventory value, and percentage of the total inventory value for each vendor.
Step 3: Analyzing the Inventory Value Reports
Review the inventory value data provided in each report to understand the financial standing of your inventory.
Identify store locations or warehouses, product variants, products, and vendors with higher or lower inventory value to gain insights into the distribution of inventory value.
Use this information to optimize your inventory management strategies, such as prioritizing stock replenishment for locations or variants with high inventory value or evaluating the performance of different vendors based on their inventory value contribution.
Step 4: Taking Action based on Inventory Value Analysis
Utilize the insights gained from the inventory value reports to make informed decisions regarding stock management, pricing, vendor relationships, and product selection.
Optimize inventory allocation based on the value contributed by different locations, variants, products, and vendors.
Identify opportunities to reduce inventory value by addressing slow-moving or obsolete products, optimizing vendor partnerships, and implementing effective pricing strategies.
Leverage the data from the inventory value reports to drive profitability and ensure efficient inventory control.
By utilizing the Inventory Value Metrics in Assisty, you can effectively track and analyze the financial aspect of your inventory. These reports provide valuable insights into the distribution of inventory value, help identify high-value or low-value products, locations, and vendors, and enable data-driven decision-making for optimal inventory management.
Updated on: 12/07/2023
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