Use the various inventory reports within Stitchex to see how your business is doing.
Stitchex reports allow you to see your customers' need for product based on your unfilled orders, your delivery capability (e.g. what is in your inventory) and excess products that are in your inventory but you do not currently have on order. You can also see what products are remaining to ship to your customers.
In addition, Stitchex provides inventory reports by product SKU so that you can see what is required inventory to fulfill sales orders, reports to show you what you have in production and what you have available to sell.
Running these reports will help you make business decisions such as:
- whether to have a promotional discount or marketing campaign for a particular product in excess.
- discontinue production of a product that is not selling.
- whether adjustments need to be made to ordering volumes for a particular SKU (size or color)
- whether you need to increase production on a particular item that is popular but you have a backlog of orders unfilled.
To access the Inventory reports, perform the following:
- Select Reports from your main left vertical menu
- From the Reporting menu, select the report you want to run. (Figure 1)
- Use the "Filters" at the top to narrow your reporting criteria. (Figure 2)
- Click the "Run" button. (Figure 2)
- Use the two "toggle buttons" (located to the left of the "Run" button) to switch between a summary report or a detailed report. (Figure 2)
- After clicking "Run", use the "filter table search box" to narrow your selection further (e.g. by product identifier, size, color, order #, manufacturer, etc). The search field capability will be different depending on which report you select and whether you are in summary or detailed report mode described in #5 above. (See Figure 3 for an example of a detailed report searching for manufacturer "Factory A").
Available Inventory Reports
Stitchex provides these 9 Inventory Reports. Most of these reports have common fields on them including Product identifier, Product Name, Color, Season, Manufacturer, Size and Warehouse. Seeing a consolidated report with these fields and being able to further refine your criteria with these fields, allows you to generate reports that give you visibility into how you are doing in each of those areas. As an example, you may want to compare Sizes across seasons for a particular product. Or, you may want to see products for a particular Manufacturer by size and color.
The Reports that are available each have a unique field other than the fields previously mentioned. Below we will call out any fields that are different or unique to those reports.
- Current Inventory Levels - Current stock level including unshipped pick & pack. The In Stock field is unique to this report.
- Required Inventory by SKU - Inventory required to cover *confirmed* but unshipped (and not cancelled) sales, accounting for all production orders (including tentative/unconfirmed). The Required amount quantity is unique to this report.
- Available by SKU - Anticipated remaining stock after fulfillment of customer orders and receipt of confirmed production. The field Available to sell field is unique to this report. Available takes the Stock, adds in the Awaiting and subtracts the Committed. (Available= Stock + Awaiting - Committed).
- Available from Stock by SKU - This report shows Stock at hand available to sell (after fulfillment of customer orders). The field unique to this report is ATS from Stock. The Available from Stock field is also a calculated value. Available from Stock takes the Stock and subtracts the Committed. (Available from Stock = Stock - Committed).
- Combined Inventory by SKU - This report is not available in detailed view as the summary view already provides much detail. The fields unique to this report is the are the In Stock, Required quantity, To Receive, To Ship and Available to sell. You can filter and narrow your search on any one of these fields.
- Inventory Value - Total wholesale value of your current inventory converted to home currency. Unit Price, In stock and Wholesale Value are the fields unique to this report.
- Remaining to Receive - The Remaining to receive report demonstrates what products are remaining to be received from your manufacturer. The report includes the Manufacturer, Season, Order #, Order date, Material name, Product identifier, Color, Size, Price, Remaining Qty, Remaining Value and Warehouse.
- Remaining to Ship - The Remaining to Ship report does not have the same fields as all of the other reports. This report shows you what is remaining to ship to your customers. Please note this one report has an additional "filter" option on the top right so that you can filter by customer. It is not available on a detailed view. The summary view already has all of the information you will need including quantities of what was ordered, what is remaining to ship, what has shipped, customer name, order date, order numbers, product sizes, colors and product identifiers.
- Material Inventory Value - The Material Inventory Value report is similar to the inventory value report for product. It provides Material Name, Color, Size, Warehouse, Material Inventory Cost and WIP Inventory Cost. Material inventory value = stock x total cost. WIP inventory value = WIP stock x total cost. All costs is displayed in a home currency in case some materials are in different prices.
- Cost of Goods Sold - Filter by month to see Product inventory beginning value and Product inventory ending value as well as WIP inventory. There are two tables. One includes Beginning value, Ending value, Change Rows (values): Product inventory, Material inventory, WIP materials, WIP Services. The second table includes Values, Amount. Values of Materials Received, Cost of Materials Used, Cost of Services Used, Cost of Goods Produced, Cost of Goods Sold, Sales = value of all shipped shipments without taxes and shipping cost, Gross Profit = Sales - Cost of Goods Sold, Gross Profit Margin = Gross Profit * 100/Sales.
Current inventory levels
The Current Inventory Levels report shows current inventory levels including quantities added to pick tickets but not yet shipped.
Required inventory by SKU
The Required Inventory by SKU report shows what additional inventory is needed to cover confirmed customer orders. When you are ready to enter your production phase, it's this data that is used by Stitchex to suggest quantities for your production orders.
Available by SKU
The Available by SKU report shows you excess stock and work in progress (pending receipt of production) that you can sell to customers.