Inventory cost analysis report gives insights regarding inventory items with respect to different metrics, such as ideal cost and cost variance.
How To Generate The Report
- Click on the “Reports” button on the sidebar of the console.
- Click on Analysis.
- Click on Inventory Cost Analysis.
- Select the date.
How To Get The Most Out of The Report
- You can select the type of data showing on a report by using a filter and select the needed criteria such as Levels, Branches, Categories, and Items > apply.
- From “Group By button”, you can select the branch.
- You can export the report by clicking on the “Export” button.
For instance, to view details regarding the item “tomato” in branch “A”: filter by both branch “A” and item “tomato”.
How To Understand The Report
Ideal Cost: Cost of consumption – Cost of return.
Waste From Order: Cost of the wasted quantities from the cashier (return or void).
Quantity Adjustment: Cost of deducted quantities from quantity adjustment transaction.
Count Variance: Cost of inventory count variance.
Actual Cost: Ideal Cost + Waste + Quantity Adjustment + Variance Cost.
Ideal Percentage: Ideal Cost / Net Sales * 100
Actual Percentage: Actual Cost / Net Sales * 100
Variance Cost: Actual Cost – Ideal Cost
Variance Percentage: Actual % – Ideal % = Variance Cost / Net Sales * 100
Diversion: Variance Cost / Ideal Cost * 100