ION Report - Inventory Turnover
The turnovers per report period is calculated by the following formula:
([Avg. Daily COGS]/[Avg. Daily Inventory])*[Sell days per month]
So for example, if the Average Daily COGS is $40,000 and the Average Daily Inventory is $1,000,000 for a 21 sell day month, the turnovers per report period would be .84.
In order for employees to access this screen, the "May Access Inventory Turnover Report" checkbox on the Plugins Panel must be checked.
How-To Create an Inventory Turnover Report
- Select Inventory Turnover off the Reports panel.
- Select the warehouses on the Warehouses panel.
- Select a Cutoff date and the number of months off the Date Selection panel.
- On the Figures panel, select the information to be shown.
- In the Fields to Display panel, select the columns wanted in the report.
- Using the drop down arrow, bring up the Product Include or Exclude screen to select the products for the report. If the report is filtered to show only certain products, then the ranking will be based on only the selected records, not on all items.
- Shows all available warehouses
- Select each for viewing in the report window. Multiple selections will added to a warehouse column
- Warehouses can be collapsed into 1 location by unchecking the Show warehouse column checkbox
- Shows the dates available for report
- Current year - Based on the current year chosen with cutoff date
- Prior year start - Base the report the prior sales year, based on the cutoff date selected
- Current month start - Based on the current month chosen with cutoff date
- Prior month start - Base the report the prior sales month, based on the cutoff date selected
- Current week start - Based on the current week chosen with cutoff date
- Prior week start - Base the report the prior sales week, based on the cutoff date selected
- Sticky dates: a date range that can be carried from layout to layout
- Days to adjust
- Show both vending and non vending sales
- Don't show vending sales
- Show only vending sales
Figure Panel Explanation
- Cases - This is the number of cases shipped minus the number of cases returned.
- Cost - This is the cost for the product.
- Case Equivalency - This is the equivalent cases amount.
- Gallons - The gallons are based on the amounts entered in the Product Records Beverage Panel. This would display the total gallons sold within the selected time frame.
Formulas for Fields
- Average Daily COGS = COGS/Sell days per month
- Average Daily inventory = Inventory Cost/ Sell days per month
- Average Daily turnover % = Avg Daily COGS/Avg Daily Inventory
- Turnovers per report period = ([Avg. Daily COGS]/[Avg. Daily Inventory])*[Sell days per month]
- Out of stock to sales ratio % = daily out of stock % vs daily sales %
See Item information