Inventory value trend
This Widget gives you a timeline of the average inventory/stock value at the end of each month for the current and previous year. With this Widget, you can forecast and compare your monthly inventory on hand values based on last year.
Why do I need it?
The identification of negative trends from this widget can indicate the need for adjustment in the inventory control processes. Advisors would be able to determine key patterns in sales and help to implement future order strategies based on these patterns. Obsolete inventory can also be identified and the overall health of the company balance sheet can be improved.
How do I get the right information?
The widget is dependent on the stock on hand value being entered accurately and updated regularly.
Ensure stock on hand (cost and quantity) for each product set up properly.
How to make the most out of your widget?
By identifying sales patterns, future orders can be adjusted so that there is no excess of inventory increasing carrying costs and obsolete product, or shortage of inventory losing sales and customers. By tracking the monthly cost and value of the stock the widget identifies patterns in sales which can be used to maintain optimum inventory levels and forecast for future orders.