Inventory investment plays a major role in most SME businesses as it certainly is an investment that needs to be managed efficiently as it will have massive impacts on both cashflow as well as the working capital of the company.
#SageBusinessCloudAccounting provides a very simple item management solution which most companies use for their inventory and we have seen some really good volume-based cases using #SageBusinessCloudAccounting which enabled us to build a comprehensive inventory management analysis.
Unfortunately, inventory management has not been easy as it is complicated, and it is simply impossible to manage the movement and ageing without having a very expensive system in place to do that, but SME’s generally can’t afford it. The major concerns are generally running out of inventory on high demand items which results in unhappy customers and drives customers to competitors’ products, versus having too much inventory on hand which is costly as it ties up cash that could be used more efficiently somewhere else.
Our inventory analysis add-on provides analysis natively out of #SageBusinessCloudAccounting. This analysis enables you to effectively manage your inventory on all type items, across various categories and ageing as well as forecasts your 3-month inventory excesses and shortfalls.
The objective of the analysis is to provide you with the ability to manage the inventory that provides 80% value. Instead of you having to manage various classifications on your inventory we have implemented buckets that enable you to manage the movement of your inventory across sales volumes, values and time. This ensures you control both cheap fast-moving volume-based inventory as well as more expensive and perhaps slower moving items effectively ensuring more effective management of opportunities and working capital.
Our new inventory analysis provides multiple analytical sheets on inventory:
Shows the amount of inventory you have of an item as well as how many units / value of excess / short inventory you have based on sales and broken down into inventory buckets on quantities and values.
At the bottom of our Sales by Item Ranking sheet, we have included the Item Unit Sold by Invoice / Customer analysis. It provides a great breakdown of the average quantity of inventory sold per deal / invoice and number of customers purchasing such items.
Gives you the ability to rank your items on hand by value of quantity per Fiscal Year
Select how many items you want to see with the slider and it compares the top X to the previous year in terms of value and quantity
Inventory Ageing Per Category, Value and Units. This analysis enables you to analyse your inventory ageing of on-hand inventory per 0-1, 1-2, 2-3 etc. months for a three-year period and split across physical and service inventory items.
The Item sales quantity analysis shows the inventory sold per item over a 13-month period.
The bucket analysis provides an analysis on monthly inventory availability which provides an analysis on sales, value excess / short, units excess / short, sales / units, items%, qty%, total value and units that you have in excess / short. This analysis shows you per time bucket how short or in access your inventory is.
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