If you are running a business, you must be aware of the importance of stock ageing analysis. It plays a crucial role in generating an optimum Return on Investment i.e. ROI. However, in many cases, you might have had trouble in maintaining a proper stock ageing analysis that further results in high operational cost and a loss of the overall productivity.
As the name depicts, a stock ageing analysis not only monitors the overall stock but also categorises various inventories according to their expiry/best before date. With a business intelligence tool like EasyReports, it is very much possible to manage the entire stock ageing and generate reports in a proper way without much of manual intervention.
Ageing analysis of Easy Reports lists out items batch wise, those have already expired or may expire in near future. This information will help you keep track of the age of stock and quick moving inventory, as the older stock may depreciate in value or become obsolete, and result in a loss. To maintain FIFO (First in First Out) ageing, it is important to maintain a proper stock ageing analysis.
Let us see how it works with EasyReports –
- To run the stock ageing analysis you need to select the Display -> Inventory Books -> Ageing Analysis option.
- Select a group or the primary group in case you would like to see the report for all items.
- Once the report is generated, the inventory position is shown to you.
- The report provides a quick and easy understanding of the position of your inventory with details sorted by the age buckets.
- You may use the ageing period options to generate the report with ageing buckets as per your requirement.
- The report can also show ‘expired’ batches based on the options button shown in the right toolbar. This option may be useful for organizations, which track the date of expiry.
You may also use the Ageing Style option to generate the report for other logic such as ageing by date of purchase, ageing by expiry date, ageing by the ‘manufacturing date’ and ‘to be expired’ stock.
One of the common requirements of a business is to evaluate notional interest on the amount blocked in non-moving inventory or to show the last purchase and/or the last sales date against each item to look at the movement position in details. These options and any other logic required can easily be configured in reporting and business intelligence tools for Tally ERP9. By using a business intelligence tool like EasyReports, it is also possible to set up auto e-mail schedules for reports so that users do not miss seeing these critical reports and thus prevent losses in their business.