Color coding for each item represent its status of inventory.
Based on its rate of consumption (sales average) and reorder cycle lead time every item in inventory will have its own triggers Reorder Points. They are used to indicate when replenishment order must be placed to avoid stock outs.
DataQlick provides real time color-coding of all inventory according to its urgency status and take into account quantity on hand + quantity on order (open Purchase Orders) + rate of consumption + changes in reorder cycle time (lead time).
Inventory Status Zones are measured in days until Reorder Point is reached.
There are 4 COLORS = 4 BUTTONS of Inventory Statuses:
|Red = Crucial||– signals that Product is at or below its Reorder Point. Must act!|
|Yellow = Attention||– signals that Product is getting close or near term to its Reorder Point. Start thinking.|
|Green = Good||– signals that inventory is in good shape. Nothing to worry.|
|Blue = Overstock||– signals that inventory is in overdone position. Watch out!|
To conclude, each product will have his own easily recognizable status. And here how user can see it on DataQlick UI:
How helpful was this article?