The Inventory Summary report shows your inventory position at a certain point in time.
What is it telling you?
The report presents information about the inventory you have.
- Closing Inventory. Your closing inventory at the end of your selected date range.
- Average Cost. The average unit cost of each item.
- Inventory Cost. This is an indicator of how much cash you have tied up in Inventory. (Average Cost x Closing Inventory = Inventory Cost).
- Retail Value. This tells you how much potential revenue your inventory could make. Use it to help plan upcoming promotions, insurance claims and merchandising. (Full Retail Price of Products x Closing inventory = Retail Value).
Check out how you can customise your Inventory reports.
Tips on using the Summary Report
Understand your inventory position in the past
It can be useful to understand your inventory position in the past, for example to compare how much stock you’re carrying into a promotional period vs. last season. By changing the date range you can see your closing inventory at any point in time. Add the optional measure ‘Current Inventory’ (click + on the right side of the report table to see what’s available) to compare where you were in the past with your current inventory position.