Stock Analytics

To update default targets and selection targets, follow these steps:

1. Go to Stock Control > Stock Analytics in the IRP Admin left navigation menu.
   The main Stock Analytics page appears:
   
2. Use the Filter feature to locate the stock items that you want to work with. This is described in the Stock Analytics Overview help topic in this section.
3. Use the sliders (or type directly in the boxes) to adjust the following parameters:
• Target Sales Per Day: This is a target sales-per-day value based on selling the reordered quantity within the selected time frame. The initial reorder quantity is calculated from current sales velocity figures. You can change this to show what impact potential differences will have on the number of items that will need to be reordered.
• Target Days To Hold Stock: This is the number of days in which you would ideally like to sell all stock (also referred to as the 'turn rate', the number of days before having to order more).
4. (Optional) You can also show or hide the Supplier Credit Limits. This shows the credit limit usage for the suppliers of the products that would be reordered. This will change depending on the desired length of time to hold the stock for and the subsequent impact on cost price that this will have.
5. As you adjust the sliders, you can view the change in the statistics shown at the top of the page:
   
   • Estimated Costs: This is the estimated total cost of all purchase orders required to reorder all stock items based on the selected products and their associated reorder quantities.
   • Potential Sales: This is the total sales value of all products to be reordered.
   • Number To Be Reordered: This is the total number of stock items to be reordered based on the selected products.
   • Potential Profit: This is the total potential profit to be made on the selected products.
   • Number Of Models: This is the total number of products to be reordered; this will remain constant even when the quantities to reorder change.
6. Click the Update Default Target button to update the default Application Setting Default Target Days To Sell Stock with the selected value. This will apply to any models that don't have a specific target days to sell stock value.
7. Click the Update Selection Target button to update the selected models with the selected target days to sell stock. This will apply only to the selected location, brand or model selection.

To update reorder quantities and minimum stock levels, follow these steps:

1. Prerequisite: If not already enabled, enable the Update Automatic Reorder Levels task type under Common Tasks > Add New Common Task (see the Common Tasks help topic). For accurate reorder estimation values you should also enable the Update Sales Velocity Common Task type.
2. Go to Stock Control > Stock Analytics in the IRP Admin left navigation menu.
   
3. Expand the Update Reorder Quantities and Minimum Stock Levels section:
   
4. Enter these details:
   The stock reorder leeway time, in days.
   The default target days to sell stock, in days.
5. Click the Update Reorder Quantities & Minimum Stock Levels button.

To update sales velocities, follow these steps:

1. Prerequisite: If not already enabled, enable the Update Sales Velocities task type under Common Tasks > Add New Common Task (see the Common Tasks help topic). This is because sales velocities are not calculated retrospectively; they will start to be recorded only when this common task is enabled, unless you manually update them.
2. Go to Stock Control > Stock Analytics in the IRP Admin left navigation menu.
   
3. Expand the Update Sales Velocities section:
   
4. Enter the number of days over which you want the analysis to run.
5. Click the Update Sales Velocities button.