Inventory Statistics

AcctVantage tracks a few common statistics which can be used to assist in managing inventory-related activity.

See below for definitions.

To see these statistics:

  1. Navigate to Warehouse Management ➤ Products.
  2. Find & open a Product record.
  3. Click on the Inventory tab.
Inventory Statistics

There are two settings on each Product record that control how Inventory Statistics are calculated. These settings are unique for each Warehouse that the Product is stocked in, as well as the company wide All Warehouses column.

  • MRP Ignore WH Transfers: Enter True if you do not want Warehouse Transfers to be included in the calculations.
  • MRP Time Period (Months): This is the number of months you want to be considered in the calculations.
    • The system only considers complete months so if you enter '12', the system will use the 12 months that ended with the most recent complete fiscal period.

---------------------

  • Turns: Measures how many times inventory was sold and replenished over the time period.
    • First, the total usage for the time period is calculated (i.e. total qualifying draws).
    • Next, the average daily quantity on hand is calculated.
    • Finally, turns are calculated as Total Usage divided by Average Qty On Hand.
  • Months On Hand: Measures how many month's worth of inventory is on-hand based on usage within the time period.
    • This calculation is Qty Real-Time On Hand divided by Average Monthly Usage.
    • If Average Monthly Usage = 0, the system is designed to set Months on Hand = 1,000.
  • Average Monthly Usage: Measures the average amount of inventory that is used per month within the time period.
    • This calculation is Total Usage divided by the number of months in the time period.