Managing inventory is a crucial aspect of running a successful Shopify store. With the Inventory on Hand report, you can easily track and analyze the current state of your inventory.
The report provides you with valuable insights about Inventory, such as the quantity of products available, their cost, sale value, and location.
By leveraging this information, you can make rewarding decisions about stock management, prevent stockouts, improve fulfillment efficiency, and plan for future inventory needs.
Whether you’re looking to maintain accuracy, prevent overselling, or streamline fulfillment, the Inventory on Hand report is the right tool to carry for the job.
Understanding the Inventory on Hand Report
Inventory on Hand is a complete overview of your available inventory. It shows the exact number of items you have in stock, their cost, Sale Value, and Location if there are multiple warehouses. This helps you understand how much inventory you have and manage your stock levels easily.
Common Fields Used in the Inventory on Hand Report
Below are the data fields that simplify Shopify reporting. They can enhance your Inventory-related decision-making by enabling you to connect different data points.
Product Title – Name of the product
Variant Title – The product variant’s title
Inventory Quantity – The number of items in stock for the product category
Published At – The date and time when the product was published
SKU – The unique identifier for the product in the shop
Product Price – The listing price of the product
Product Cost – The purchase cost of the product
Location – The name of the inventory’s location
Vendor – The supplier of the specific product
Visible – Indicates if a product is visible to the customer or not.
Product Status – Determines if a product is available for your visitors to view in your store
Why Your Shopify Store Needs This Report
The Inventory quantity data is displayed in zero negative and positive values which allows you to identify if the product is in stock, oversold, or nearing end of stock. You also gain vendor details of the specific product available in the table. Now, you’ll know who to contact for restocking inventory, and the respective inventory location.
Note – You can avoid running out of stock if you have inventory tracking enabled for your store..
The difference in the product’s price and its cost will be the profit made. The product cost will allow you to calculate the acquisition cost for the product in demand.
Also, the report lets you have an eye on product status and visibility fields. It helps you tell if the product is available to view or not. The location names of the inventory provided are an added benefit.
Here’s the reason the Inventory on Hand report is vital for your Shopify store management:
- To maintain accuracy in inventory management
The report will help you note each product’s stock levels in your store’s inventory . The relevant data is segregated by product name, variant, and SKU for clarity and shown according to any specific time frame you need.
- To prevent overselling or stockouts
There is no situation worse than staying empty-handed at a time of huge demand for your product. You will not only miss the sales opportunity but also lose customer trust.
The Inventory on Hand report helps identify items that are out of stock or low in stock. You can order more stock of those items in time to prevent the no- or low-stock scenario.
- To improve fulfillment efficiency
Fulfillment is all about quickly and efficiently delivering a product to the customer. And efficient fulfillment is simply not possible without knowing about the product’s inventory you have on hand. It prevents you from listing products that have no stock, or are not at a convenient location for easy fulfillment.
- Inventory forecasting and planning
By analyzing the data provided by this report, you can make informed decisions on forecasting the inventory requirements and related operational procedures. This preparation avoids, or at least minimizes, disruptions to your sales from known and unknown events in the future.
Commonly Asked Questions Answered by this Report
How many products are remaining in my inventory?Which products do I currently have available for sale in my store?
Are there any products that have completely run out in my inventory?
How can I find suppliers for products that are out of stock?
What are the acquisition costs and selling prices of my products?
Similar Reports You Can’t Afford to Miss
Inventory Sale Value
Inventory by Product Type
Low Stock Product
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.