Understand the Inventory Key Performance Indicators
The Key Performance Indicators (KPIs) give you a quick, at-a-glance, view of your Inventory.
- Navigate to Inventory.
- Click the Show KPI icon.
Going across the top of the screen, the following statistics are:
KPI | Description |
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Needed / On Order |
For Work This KPI identifies parts required for ongoing work orders. It focuses on parts that are needed for current maintenance activities and their availability status. Needed Definition Parts that are required for work orders but currently have zero available quantity in inventory. Criteria
On Order Definition Parts that are required for work orders and have a purchase order created, but still have zero available quantity in inventory. Criteria
Out of Stock This KPI tracks parts that are completely out of stock and assesses whether they meet minimum stock requirements. Needed Definition Parts that are out of stock, have zero available quantity, and no purchase order has been created for them. Criteria
On Order Definition Parts that are out of stock, have zero available quantity, and have a purchase order created. Criteria
For parts with zero available quantity and a purchase order quantity less than the minimum stock levels, these parts should be listed under the "Needed" filter as well, since they do not meet the minimum stock requirement even though a purchase order is in place. Low Stock Description: This KPI identifies parts with inventory levels below the set minimum stock levels and assesses whether purchase orders have been created to address the shortage. Needed Definition Parts that have available quantities less than the minimum stock levels and for which no purchase order has been created. Criteria
On Order Definition Parts that have available quantities below the minimum stock levels but have a purchase order created. Criteria
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Warehouse Utilization |
Warehouse Utilization measures the percentage of bin locations in a warehouse that are actively used for storing parts. This KPI helps assess how effectively the available space is being utilized, indicating whether the warehouse is operating at its optimal capacity. Formula Warehouse Utilization(%) = (Number of Bin Locations with Parts / Total Number of Bin Locations ) × 100 Example Calculation
Using the formula: Warehouse Utilization(%)=(8/10)×100=80% In this example, the Warehouse Utilization is 80%, indicating that 80% of the available bin locations are currently in use. |
Inventory Totals |
On Hand Total This KPI measures the total count of all parts currently available in a specific warehouse.
Unique Parts Total This KPI counts the total number of distinct parts created across the entire organization, regardless of the warehouse or site. Value This KPI calculates the total valuation of all parts within a specific warehouse. Definition The aggregate monetary value of inventory based on the on-hand quantity and cost of each part in a given warehouse. Formula Total Value = Sum of (On-Hand Quantity of Each Part * Cost per Unit of Each Part) From Last Month This KPI measures the percentage change in the on-hand quantity of parts compared to the previous month. Definition The percentage difference in the total on-hand quantity of parts from the previous month to the current month. This metric indicates how inventory levels have changed over time, providing insight into trends and inventory management effectiveness. Formula Percentage Change = [(Current Month On Hand Total - Last Month On Hand Total) / Last Month On Hand Total] * 100 For example, if the on-hand total last month was 500 units and this month it is 600 units, the calculation would be: Percentage Change = [(600 - 500) / 500] * 100 = 20% |
You can click on the Needed / On Order columns to filter the list.
If you want to reset the grid view, then click the More Actions icon, and then Reset Grid.