QlikView: Advanced Data Visualization

Inventory stock levels

The business defines each product's minimum, reorder, and maximum stock levels so as to maintain an adequate quantity in inventory. We often calculate these numbers and insert them into an ERP system that automatically generates purchase orders or work orders every time an item reaches the reorder stock limit In QlikView, we can use sales and purchase cycle data to easily calculate each limit and compare it to historical inventory behavior. We use the following formulas to calculate each stock level:

Reorder Stock Level = Max Lead Time * Max Daily Sales

Minimum Stock Level = Reorder Stock Level – (Avg Lead Time * Avg Daily Sales)

Maximum Stock Level = Reorder Stock Level – (Min Lead Time * Min Daily Sales) + Reorder Quantity ...