Inventory metrics are indicators that help you monitor, measure, and assess your performance. ๐Ÿ“Š They give you insights to improve and optimize your processes and enable you to spot trends and identify weaknesses. ๐Ÿค

Here are our main rules to drive your #inventoryhealth using inventory metrics:

๐Ÿ’ก ๐‘๐”๐‹๐„ ๐Ÿ: ๐ƒ๐ž๐Ÿ๐ข๐ง๐ž ๐š ๐ฐ๐ž๐ฅ๐ฅ-๐›๐š๐ฅ๐š๐ง๐œ๐ž๐, ๐ฅ๐ข๐ฆ๐ข๐ญ๐ž๐ ๐ฌ๐ž๐ญ ๐จ๐Ÿ (๐Š)๐๐ˆ๐ฌ 
Restrict to a small set of metrics only and ensure that they have a top-down explanatory structure, i.e. misperformance of one metric (e.g. high stock value) can be explained by misperformance of (one of) the underlying metrics (e.g. high forecast bias).

Donโ€™t measure the whole world, ignore metrics with little value add for the organization. 

๐Ÿ’ก ๐‘๐”๐‹๐„ ๐Ÿ: ๐Š๐๐ˆ ๐๐ž๐Ÿ๐ข๐ง๐ข๐ญ๐ข๐จ๐ง ๐ข๐ฌ ๐ข๐ฆ๐ฉ๐จ๐ซ๐ญ๐š๐ง๐ญ, ๐›๐ฎ๐ญ ๐ฌ๐ญ๐š๐ซ๐ญ๐ข๐ง๐  ๐š๐ง๐ ๐œ๐จ๐ง๐ฌ๐ข๐ฌ๐ญ๐ž๐ง๐ญ๐ฅ๐ฒ ๐ฆ๐ž๐š๐ฌ๐ฎ๐ซ๐ข๐ง๐  ๐ข๐ฌ ๐ฆ๐จ๐ซ๐ž ๐ข๐ฆ๐ฉ๐จ๐ซ๐ญ๐š๐ง๐ญ
Donโ€™t overcomplicate the measurements. Accept that many metrics are hard to correctly measure and that required data is unavailable or of poor quality.

Organizations get lost in defining the right definitions and fail to guide the โ€œchangeโ€. ๐Ÿ˜ฐ Make sure that the metric owners recognize and accept the trends in the numbers. As long as the trend is explaining weโ€™re moving in the right direction or helps us to identify improvements, the metrics have done their job. ๐Ÿ“ˆ

Want to learn more about defining the key inventory metrics and how to build the dashboards to monitor them? Discuss your challenges with Maarten Driessen or visit our website to learn how we can help: ๐Ÿ”—