In this lesson of Thrive University, we'll discuss how to use metrics to help you determine what to order less or more of, when to order, and how much to order based on sales goals and inventory turns.
Reporting Insights: Using Metrics to Determine Buys
Use metrics to determine inventory buys
Inventory is the lifeline for small businesses
It’s important to not only look at individual products, but also at category and vendor level metrics
Reports and metrics that can help you determine what to buy LESS of:
Reports and metrics that can help you determine what to buy MORE of:
Reports and metrics that can help you determine WHEN to order and HOW MUCH:
Tells you when you will run out of a product - in 2 days, 2 weeks, 5 weeks, etc.
Use this report to help you decide on PAR or alert levels and create an automatic ordering flow, and/or know how much to order at a time.
If you’re ordering frequently, this report will show you inventory that’s already on its way