An "Inventory Insight" feature could provide users with valuable data and analytics related to their inventory performance. Here are some possible aspects that could be included in this feature:
1. Inventory Health Dashboard
- Current Stock Levels: A real-time view of the current stock for each product.
- Stock Movement Trends: Graphs showing stock inflow and outflow over time, helping users identify trends.
- Stock Turnover Rate: Calculation of how quickly products are being sold and replenished.
- Stock Age: Insights into how long items have been sitting in stock, which can help identify slow-moving products.
2. Alerts & Notifications
- Low Stock Alerts: Notifications when stock levels fall below a certain threshold.
- Overstock Alerts: Identify products with excessive stock levels, which may be costly to hold.
- Stock Expiry Notifications: For perishable goods reminders about products nearing their expiry dates.
3. Demand Forecasting
- Predictive Analytics: Use historical sales data to forecast future demand and suggest optimal reorder points.
- Seasonality Insights: Highlight periods of high or low demand based on previous patterns, helping with inventory planning.
4. Cost Analysis
- Inventory Holding Costs: Breakdown of costs associated with holding inventory, including storage, insurance, and handling.
- Shrinkage Insights: Report on discrepancies between recorded inventory and actual stock, helping identify areas of loss or inefficiency.
5. Performance Reports
- Best-Selling Products: A list of the most popular items based on sales volume.
- Underperforming Products: Highlight slow-moving products that may require discounts or special promotions.
- Supplier Performance: Track suppliers based on delivery times, costs, and product quality.
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