The Inventory Level Indicator report holds the data you need to make inventory replenishment decisions.
The report enables you to determine if a product’s stock level is sufficient for your needs or not based on product category. The indicated level varies depending on what’s being sold. Meaning, a fast moving product will have its quantity level as Low even if it has the same stock quantity as a slow-moving product, which will be shown as High. There are three indicator levels: Low, Medium, and High.
You can customize this report to suit your needs as every product category, and products within a category, can move at different rates. The customization options are detailed in the following sections.
Understanding the Inventory Level Indicator Report
The default query used to generate the inventory level indicator column is as follows:
WHEN [Inventory Quantity] > 20 THEN ‘High’
WHEN [Inventory Quantity] < 10 THEN ‘Low’
As mentioned, you need not stick to the default query. You can always modify the values as per your store’s requirement or we can customize them from our end as per your specifications.
Common Fields Used in Inventory Level Indicator Reports
Here’s the list of the most commonly presented data fields in this report:
Product Title – Name of the product.
Variant Title – Product variant name.
SKU – Unique identifier for the product in the store.
Product Status – Determines if a product is available for your visitors to view in your online store.
Inventory Quantity – The number of items in stock for the product category.
Inventory Value – Total value of the inventory. It’s calculated by multiplying the inventory quantity with the product’s price.
Custom Collection – Collection name under which the product is categorized
Inventory Level – Inventory level indicator
As always, you can add custom data field columns to further personalize your report.
Why Your Shopify Store Needs This Report
We now know about the default data fields available in this report, and how it serves your eCommerce business. Now, let us discuss the insights this report provides, and How to best use them in daily business operations. Now you’re aware that we categorize our product data into low, medium, and high levels. In the above section, we went through the multiple filter options available for all our reports that let you filter products based on the stock you have assigned for each level.
What you’re likely to miss while making that decision, as confirmed by our customers via feedback, is the fact that different products sell at different rates. By relying on product quantity data alone, you could falsely determine.
For example, assuming that a fast-moving product has enough stock. You’ll then be left with insufficient stock of that product when you need it the most. Alternatively, you could overstock a slow-selling product by falsely determining that its quantity is insufficient by the same method.
With the inventory level indicator, you won’t have to contend with this problem by avoiding low stock, overstocking, and out-of-stock situations. You also prevent loss of sales and consequent brand reputation harm due to inventory mismanagement.
It’s alright if you have high stock quantities. What’s important is that you check your inventory regularly.
If you notice that a certain product has remained unsold or had high stock levels for an extended period of time, you should start planning to liquidate the excess stock. Just make sure that the product’s status remains active in the store, and use sales data in our reports to decide when and how much to order.
The Medium stock level can be considered as the safe zone since it means that a product’s quantity is neither too much or too little.
The most important data is the low-level stock in your inventory, which will affect your business in several ways, such as loss of sales, customer frustration, etc.
Here’s how you can best use this report to avoid the low stock quantity scenario.
Filter the report to only show products with low levels of stock. Then, schedule the report to arrive at your mailbox as per your convenience: hourly, daily, or weekly.
That’s it! Problem fixed. Now, you get updated on products with low stock levels routinely via email. Meaning, focussed store inventory insights when you need them to improve inventory management, as intended.
To add to the benefits, the scheduler in Report Pundit will not deliver blank reports. This ensures that your emails get sent only when any of your products hit a low level of stock. Also, as a precaution, stock levels are displayed after deducting pending order quantity.
Note: The displayed levels only indicate current inventory conditions based on live data.
Commonly Asked Questions Answered by This Report
How to assign stock levels for products in my inventory?
When should Which of the products in my inventory be nearing out of stock?
How can I stop losing business due to products running out of stock?
Which product is taking up too much space in my inventory?
Which of my products need to be restocked?
How can I find out which collections have the lowest stock in my warehouse?
Explore More: Similar Reports You Can’t Afford to Miss
Low Stock Product Report
Out-of-Stock Product Report
Tips & Suggestions for Hassle-free Report Generation
Report Pundit offers two options for generating reports: Pre-created and Custom reports. Users can utilize over 100 pre-created templates, or use the report designer tool to create custom reports from scratch.
The Report Designer tool provides customization options such as static and calculated columns, date range selection, filter conditions, and sort conditions. Users can export reports in various formats, including Excel, PDF, CSV, and Google Drive, and can also schedule automatic report generation.
Learn more about hassle-free report generation using Report Pundit by CLICKING HERE for a dedicated article on it.