Inventory Projection Report

Inventory Projection Report

Inventory Projection Report Overview

Inventory Projection is also known as Inventory Forecasting or Demand Planning. It’s all about guesswork or estimation of past inventory data/trends in order to make inventory management effective for the future. This particular report type will display a list of past inventory data and trends. It helps you do the inventory projection for the future with accuracy, depending on your past observations.

Many different types of filters and sorting functionalities can be configured according to your requirements. The system will display records of past inventory data and trends only according to the selected filter options. The system will also display the product name, UPC, QOH, Average Sales Per Day, and Quantity Sold to date.

Reaching the Inventory Projection Report  

To reach the Inventory Projection Report, follow the below steps:
  1. Step 1: Log into Control Center
  2. Step 2: Choose Point of Sale
  3. Step 3: Choose Reports
  4. Step 4: Choose Inventory Reports
  5. Step 5: Choose Inventory Projection  
See Figure A. You will see many types of inventory reports that will be useful to your retail business. By clicking the "Choose Report" drop-down selection, you will see the different types of inventory reports.


                                                                                     Figure A
By clicking "Inventory Projection Report," you will be redirected to the "Inventory Projection Report," where you can see relevant filtering and sorting options.


                                                                                Figure B

1. Generating the Inventory Projection Report

To generate the "Inventory Projection Report," follow the steps below. (See Figure B above)
  1. From the "Inventory Projection Report" page, you will see the "Choose Report" drop-down selection.
  2. By clicking the drop-down selection, you will see different types of inventory reports in alphabetical order.
  3. Search for "Inventory Report" from the list and click on it.
The following data gets fetched in tabular format when you click on the "Generate Report" button in the top right corner; the "Inventory Projection Report" will be displayed as highlighted in Figure C.

                                                                                            Figure C
Fields:
  1. Item Name: This column displays the list of item names with their present QOH and Quantity Sold so that the inventory can be projected for the future.
  2. UPC: It is a Universal Product Code (UPC) that helps in keeping track of items at the store. 
  3. Quantity on Hand: This column shows the current Quantity on Hand (QOH) of the item mentioned in the item's column.
  4. Quantity Sold: This record column holds the numeric value for the item's Quantity Sold.
  5. Average Sales Per Day: This report column gives the average sales of the listed adjacent items in the item's name column.
  6. # of Days Left: This column will display the number of days for which the listed items in the inventory will survive.

2. Filter Options:

Let's understand the custom filter options to generate the "Inventory Movement" report by setting up specific criteria.

2.1 "Save Filter and Custom Filters for "Inventory Projection Report"

You can generate the "Inventory Projection" report for all store locations with the "Show All" option or a customized report with "Custom Filter.


                                                                                                   Figure D

You will see the different tabs to filter the items for the item "Inventory Projection Report." You can choose the required filter category.
  1. You can select the saved custom filter from the drop-down selection.
  2. The "Manage Filters" button will open the list of the saved custom filters. See Figure F.

                                                                               Figure E

                       Figure F
Select Filter: You can select any filter from the list to generate the desired "Inventory Projection Report." Select the filter from the list, and then click on the "Select Filter" button.

2.1.1: Filter Items by Different Categories

Select "Manage Filter Category," say "Department," and you will see many options listed below. See Figure G below.


                                                                                      Figure G

See Figure G. Now, let's see how to check the "Inventory Projection Report" with different filters. The data in the "Inventory Projection Report" can be filtered into different categories as well. The filter options are:

Select the "Manage Filter Category," say "UPC," and you will see many options listed. See Figure G above.
  1. UPC: If you select "UPC," you will see a report of items with their UPCs. 
  2. Department: If you select "Department," you will see a report of items that are transferred department-wise.
  3. Category: If you select "Category," you will see the product's category-wise inventory data in the report. You can check the inventory data in the report at the category level. You need to select the level from the "Category" drop-down selection. 
  4. Vendor: If you select "Vendor," you will get the vendor-wise inventory data for the group that is entered in the product details. 
  5. Manufacturer: If you select "Manufacturer," you will see the manufacturer-specific inventory data in the report of the items that are transferred. 

                                                                           Figure H

Selected List: You will have one flag to decide whether you want to "Include" or "Exclude" the selected records when Figure H is generated.
  1. Include: If the flag is selected as "Include," it means the "Inventory Projection Report" will be generated by applying the selected records. See Figure H above.
  2. Exclude: If the flag is selected to "Exclude," it means the "Inventory Projection Report" will be generated without including the selected records. See Figure H above.
2. Clear Selection: You can remove any record from the list by clicking the "Remove" (x) icon. If you want to remove the whole selection, click the "Clear Selection" button.
2.2.1 Save Filters
You can also save the configured custom filters for future use. By clicking the "Save Filters" button, a pop-up will appear to allow you to enter the name of the custom filter.


                                                                                                        Figure I
2.2.2 Date Range
  1. You can filter your sales data in the report between the dates and select a specific time from the Start Date and End Date drop-down calendars.
  1. By clicking the edit box, you will get the drop-down calendar to select the specific date range. You can also manually enter the date in mm/dd/yyyy format.
  1. You can also generate a report with a specific time duration (till morning/evening), and you can select the particular time (hour and minutes) from the date selection. See Figure J and Figure K.

                                                                                                            Figure J


                                                                                                            Figure K

2.3 Presets

Presets label is provided to select the specific duration/interval to generate the "Inventory Projection Report" according to the selected time period.


                                                                                                            Figure L

2.3.1 Selected Stores/No Filter Selected

You can generate the "Inventory Project Report" for selected store locations with "Selected Store." See Figure M.


                                                                                                  Figure M
  1. Click on "No Filter Selected" to select the location of the store to get the location-specific backorders in the report.

                                                                                       Figure N

3. Checkbox Filters

  1. Show Only Days Greater Than: This is a filter that will allow you to enter the number of days to display the report showing the records that have "# of Days Left" greater than the entered number.

                                                                                                  Figure O

See Figure P. Below, if the checkbox filter "Show Only Days Greater Than" is filled with the input value of, say, "5000,the report will display the data where "# of Days Left" is greater than "5000."


                                                                                                   Figure P
  1. Rollup Links: This filter will combine the related parent and child items to give you the total quantity on hand value of the product in decimal format.

                                                                                        Figure Q

The rest of the location and location group filters and other filter categories (UPC, Vendor, Department, Category, Manufacturer) will also narrow your results in the filter-specific report.


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