Inventory Metrics: Receiving KPI
Posted: Wed Jan 22, 2025 4:31 am
Inventory receiving KPIs help you evaluate how effectively you manage the process of bringing in new stock . They provide insight into how you manage incoming inventory, which can significantly impact your overall operational performance.
Reception time
Receiving time measures the time it takes for your team to prepare incoming stock for sales . It assesses the efficiency of your stock receiving process. Shorter receiving time means faster stock availability, lower storage costs and increased operational efficiency.
Receiving time = Total time from arrival of inventory until it is ready for sale (stock validation time + stock registration time + stock preparation time for the sales team)
Example: Suppose inventory arrives at 9:00 AM. Unloading begins at 9:05 AM, and stock finance directors email list verification and quality control are completed by 11:00 AM. The inventory is then labeled and ready for sale by 11:30 AM. Total time = 9:00 AM to 11:30 AM = 1.5 hours.
Storage time
Putaway time measures the time it takes to move stock from the receiving area and store it in its final warehouse space . When products are stored quickly and correctly, the chances of misplacing items are reduced and more receiving space is available for new stock.
Storage time = Total time spent from receipt of inventory to its transfer to the storage location
Example: If you receive inventory at 10:00 AM and move it to storage at 11:30 AM, your storage time will be 1.5 hours.
Try ClickUp Time Tracking to easily track and analyze time spent on inventory activities like putaway, quality control, and stock keeping, and improve operational efficiency.
ClickUp Time Tracking
Control inventory time and improve operational efficiency with ClickUp Time Tracking_
Inventory Metrics: Operational KPIs
Operational KPIs tell you how well your inventory processes are working . They help you measure your efficiency and improve as needed.
Reception time
Receiving time measures the time it takes for your team to prepare incoming stock for sales . It assesses the efficiency of your stock receiving process. Shorter receiving time means faster stock availability, lower storage costs and increased operational efficiency.
Receiving time = Total time from arrival of inventory until it is ready for sale (stock validation time + stock registration time + stock preparation time for the sales team)
Example: Suppose inventory arrives at 9:00 AM. Unloading begins at 9:05 AM, and stock finance directors email list verification and quality control are completed by 11:00 AM. The inventory is then labeled and ready for sale by 11:30 AM. Total time = 9:00 AM to 11:30 AM = 1.5 hours.
Storage time
Putaway time measures the time it takes to move stock from the receiving area and store it in its final warehouse space . When products are stored quickly and correctly, the chances of misplacing items are reduced and more receiving space is available for new stock.
Storage time = Total time spent from receipt of inventory to its transfer to the storage location
Example: If you receive inventory at 10:00 AM and move it to storage at 11:30 AM, your storage time will be 1.5 hours.
Try ClickUp Time Tracking to easily track and analyze time spent on inventory activities like putaway, quality control, and stock keeping, and improve operational efficiency.
ClickUp Time Tracking
Control inventory time and improve operational efficiency with ClickUp Time Tracking_
Inventory Metrics: Operational KPIs
Operational KPIs tell you how well your inventory processes are working . They help you measure your efficiency and improve as needed.