When you utilize Global Docks as your e-commerce warehouse, our warehouse management system (WMS) provides daily reports so you can observe, measure, and analyze the status of your products.
These daily reports provide you with every piece of information you need to view and manage your inventory. With this information, you can more easily make intelligent decisions about the products you stock and how much of each product you hold. Here are a few daily reports that the Global Docks WMS can help you observe.
Inventory On Hand Report
If your store runs out of stock frequently, your customers will soon go elsewhere. If you want to ensure that the items listed on your website are in stock in your warehouse, you need to know which items are running low ahead of time. You can make more informed decisions when you can search by SKU to see which items are in stock and which have been returned.
Open/Shipped Orders Report
A popular fulfillment report is this one which allows you to sort all orders. You can navigate by shipping location, shipping time, and carrier. You can see detailed information about fulfilled orders, including when the order was created and shipped. This can, in turn, help you provide more informed customer service.
Open/Closed Receipts Report
This report helps you understand the inventory you are shipping to the warehouse. You can see when your inventory arrived and how long it took to be added to your inventory count, so you can judge how much time you need when restocking items and how long it is until products are available to ship to customers.
Inventory Aging Report
It is crucial that you know which items are sitting on the shelves for long periods. Aging reports let you understand how many days you have been holding onto inventory and its quantity. This can help you determine the following:
- Non-moving products
- Slow-moving products
- How long products sit in inventory
- The cost of maintaining this inventory over time
This report is essential for helping you understand what your customers are buying and what they are not.
Turnover Inventory Report
Researching high and low inventory turnover ratios can help you see which products are understocked (with a high turnover rate) and which are overstocked (with a low turnover rate). Turnover data can help you fine-tune your prices, ordering quantities, and inventory levels.
Low Inventory Report
A low-stock report will show all products below your chosen minimum stock level threshold. Daily access to low-stock reports allows you to spot trends on which products are consistently running low.
Product Performance Reports
Product performance daily reports can help you determine which items are best sellers and, therefore, most profitable to your business.
Inventory Location Reports
Knowing where your product is located can give you crucial information to know that your inventory is well-maintained. With these reports, you can track inventory in real-time across warehouses and distribution centers to have complete access to your assets even when you are in a different physical location.
Inventory Movement Analysis Reports
These reports can illustrate how your stock moves along the supply chain. With detailed information on inflows and outflows of products and their quantities, you can identify which products move quickly and which do not. Fast-moving goods can lead to quicker profits, which benefits your business.
How Daily Reports Benefit Your Business
When you can receive daily reports from your warehouse, you are provided the data you need to make the best business decisions. These reports help you analyze your inventory, the speed of order fulfillment and determine which items you need to focus on restocking. Access to this critical information allows you to scale your business faster and build a better inventory management strategy. Reach out to Global Docks today to learn more about our WMS.