NETSTOCK | Overview of the menus | Dashboard
Use Dashboard to:
- Track your stock value, level of excess, and where you are buying too much
- Track your fill rate, current out of stocks, and potential future out of stocks
- Investigate and action key inventory exceptions
- Focus on new items with stock and/or orders for which there is no demand
- Improve the accuracy of your ERP data
The title bar options
If you usually want to see the dashboard for a particular location, set the location as your default location as follows:
- Navigate to the required location's dashboard
- Click on the icon in the title bar (on the right hand side)
- Your default location is set, and the icon turns red
Now when you click on the word Dashboard in the menu, this location’s dashboard will display by default.
Use the period selector to view the KPI in either days, weeks or months.
Use the dashboard group to filter the dashboard by, for example:
- Buyer or planner
- Product group
Please note: the dashboard group needs to be configured for your environment before it is available for selection.
For all KPIs and exception lists
- The gold bar on the left is the start point or benchmark
- The blue bars show the previous 12 periods in days, weeks or months
- The red bar on the right is the value today
- The top value is today’s value and is clickable
- The second value is a target or a count of items that contribute to today’s value
- Each exception list displays the top 5 items in this location with that status, ranked in descending order of impact on your business
- The blue bar shows the size of the issue relative to the other 4 items
- The value of the top 5 items is summed, for comparison to the total shown on the KPI above
- The full list of items in that status can be generated by clicking on either the total value in the KPI or the top 5 total value
Your goal: to remove these items from the list either by taking action or, if no further action can be taken, by clicking on the "mute items" icon.
Stock holding KPIs
Your Actual stock value versus the Model stock value. Typically the model is less than the actual because:
- The actual stock value is computed as the current level of stock on hand, valued at cost
- The model stock value is the optimal stock holding and assumes that there is no excess stock and that every single item in every location is in perfect balance
Your goal: to bring the actual stock value as close to the model stock value as possible while increasing or maintaining the fill rate
Your Actual stock value is normally too high because of these items that are in Excess.
- Excess is defined as stock-on-hand above the maximum level for any stocked item
- Excess on non-stocked items is defined as the value of stock over-and-above any outstanding customer orders
Your goal: to continually reduce the excess stock value in the warehouse
Not only do you have Excess inventory, but you’re making the problem worse with these Surplus Orders.
- When these outstanding supplier orders are receipted into your warehouse, they will push the stock level into Excess
Your goal: to cancel, delay or reduce the order quantity on as many of these orders as possible
Stock holding exceptions
Lists those items where sales are lagging the forecast – you have forecast more than you are selling so far this month.
- If you purchased inventory based on an inflated forecast, you may well have over-bought
- By selling less than you thought, there is a bigger risk of generating excess inventory
Your goal: remove items from the list by reviewing and, where appropriate, reducing the forecast.
Lists those items where current on hand inventory + on order is above the optimal maximum level.
- Select items (eg. top 10) for excess stock reduction
- Agree excess inventory reduction targets and timeframes
- Allocate responsibility for item's to individuals
- Manage those items manually
Note: when reducing excess inventory, be wary of unintended consequences. Please watch the tutorial on this topic for more information.
List those items where you may now have too much on order, which will result in excess when the order arrives.
- You may have ordered more than you need due to a cost reduction from your supplier
- Demand may have fallen since the order was placed
Your goal: remove items from the list by taking action - either cancelling or de-expediting (delaying) these orders to minimise the creation of excess stock.
Service level KPIs
When your customers come to purchase from you, you can only supply them with inventory 88.08% of the time. You’re targeting 95.93%.
- Fill rates for a location are computed by weighting each item’s actual/target fill rate by it’s future forecast value
- Target fill rate is a system input denoting the desired level of stock availability
Your goal: to bring the Achieved value as close to the Target value as possible while maintaining or reducing the stock holding value
The reason your Fill Rate is low is because of the items that are out of stock right now.
- The lost sales value, at cost, is accumulated until either the next order arrives or an order placed today can be received (whichever comes first)
Your goal: to get these items in stock as soon as possible, minimising the stock-out period
Not only is your Fill Rate low because you’re out of stock of items but it’s getting worse.
- These items are predicted to run out of stock before either the next order arrives or an order placed today can be received
Your goal: to bring orders forward or to place emergency orders now to get these items back in shape as soon as possible
Fill rate: On any given day, an individual item is either in stock or out of stock – you are considered to be out of stock if your nett available stock (i.e. physical on hand stock less backorders) is zero or negative. If an item was out of stock for 3 days in a 30 day period, the fill rate on that item would be 90%.
Service level exceptions
Lists those items selling more than you thought (or forecast) so far this month.
- If you continue to sell more and you don't increase the forecast, you are at risk of running out of stock
Your goal: remove items from the list by reviewing and, where appropriate, increasing the forecast.
Lists those items that have nett available stock <= 0.
- You may have zero stock on hand or any on hand quantity is already committed to existing customer orders
Your goal: remove items from the list by taking action - either by placing an emergency order or by expediting (bringing forward) an existing purchase order to minimise the length of the time the item will be stocked out.
Potential stock outs
List those items that are not stocked out now but are predicted to stock-out before you can get more stock in.
- Even if you place an order today, you are likely to run out before the order arrives
- Any purchase order in the pipeline is not arriving soon enough to avoid stocking out
Your goal: remove items from the list by taking action - either by placing an emergency order and/or by expediting an existing purchase order to prevent the potential stock out.
Items show as new when there is no way to accurately determine the status to be assigned.
New items need attention - possible actions that you might take:
- Check that the stocking indicator has been set correctly
- Enter a manual forecast (for stocked items)
- Add the item as a component in a bill of materials
- Add the item in a supersession chain if it replaces another item
- Configure central warehouse supply
Your goal: action them to get them off the new items “to do” list.
Item status breakdown
A summary of the respective values from the KPI above, plus:
- OK items; the stock value, at cost, of each item where the physical stock on hand lies between the ideal minimum and maximum stock levels
- New items; the value of stock on hand + stock on order, at cost, for items that have no forecasted demand
Your goal: to increase the value of the OK status and decrease the value of the rest
Highlights issues with the data supplied from your ERP system.
- Keeping your ERP data maintained is difficult
- Planning replenishment requires accurate data for optimal order recommendations
- Data purity highlights data issues, giving you lists of items to review and correct
- With over 50 checks, NETSTOCK will help you keep your inventory-related data accurate
Clicking on the overall score, in this case 95.05%, opens up the purity dashboard, which contains more detail of specific data issues.
Your goal: to increase the data purity overall score
Detailed analysis for each file
For each file, using the “Stock data” pane as an example:
- See the aspects of the file that has issues
- Drill-through to see the actual items for each issue
- Easily download the list of items to excel, for data maintenance tracking
Note: NETSTOCK is like any system that depends on data to generate an output – the quality of the data input will determine the quality of the output. A regular review and maintenance of your ERP data will ensure your data is in good shape, and will improve the quality of the order recommendations.