Overview
The Inventory On-Hand report provides a current catalog of products at each location. This report helps in tracking inventory levels and assessing inventory costs.
NOTE: This report pulls current inventory on-hand. The unit cost is based on FIFO (First In, First Out, is an inventory management method used to determine the order in which products are used or sold).
Default Metrics
Metric | Definition |
Product Name | Name of product |
Location Name | Name of location |
Current Quantity | Current number of product units available |
Cost Value | Total cost of current inventory |
Price Value | Total value of current inventory |
Profit Value | Price value minus cost value |
Product Location ID | ID of product at the location |
First In, First Out (FIFO) Inventory Management Overview
Concept: The products that are added to inventory first are the ones that should be sold or used first.
How It Works
Receiving Inventory: When new products or materials arrive, they are added to the inventory.
Using/Selling Inventory: When items are sold or used, the oldest inventory (the first items that were received) is taken out of stock first.
NOTE: This was formerly a beta report.