What You’ll Learn…
- An overview of the importance of inventory measure
- Selecting the right inventory measures for your needs
- Definitions of inventory measures such as:
- Inventory Turns
- Days Inventory Outstanding (DIO)
- Slow Moving/Obsolete Stock
What You’ll Get…
1. A self study guide - 8-10 pages explaining all about Inventory Measures
2. A comprehensive inventory spreadsheet - enabling you to build a Inventory Measurement system
3. A professional video- explaining "how to use" the spreadsheet
Our approach to training is entirely new. There is nothing like it on the internet.
What the Spreadsheet Will Enable You To Do…
- Enable you to trial and test your data
- Calculate 3 key inventory measures (inventory turns, GMROI, DIO)
- Generate a slow moving report $ valuation
- Generate a slow moving graph
Inventory measures are a powerful tool for any organization wanting to improve performance across a number of important categories. Whether part of the retail sector, the manufacturing sector, or any other sector of the economy, every organization must carefully consider how and when to create and apply appropriate inventory measures.
In particular interest in Retail are the inventory measures GMROI and inventory turns.
Every organization conducts a variety of measurements, but what separates successful from less successful approaches is the level of thought and deliberation that goes into designing and implementing the right measurements so they focus on the right parameters.
Most performance measurements center on operational activities because these are the activities that are easiest to quantify and potentially have the greatest impact on overall business performance.
Performance measurements should be a key part of every organization’s regular processes and systems. Without proper and effective performance measurements no organization can expect to maximize results over the long run.
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