What Are Lagerkennzahlen?
What Are Lagerkennzahlen?
Lagerkennzahlen, also known as inventory performance metrics, are a set of measures used to monitor, evaluate and assess the performance of a company's inventory and stock. They provide insights into the efficiency of the company's inventory management, forecasting and replenishment systems. By looking at the Lagerkennzahlen, companies are able to identify areas in which they can improve their inventory performance.
The Five Most Important Lagerkennzahlen
When looking at Lagerkennzahlen, there are five key measures that every company should consider. These include: inventory turnover ratio, days on hand, cost of goods sold, inventory accuracy, and inventory holding cost.
Inventory Turnover Ratio
The inventory turnover ratio is the number of times per year that a company's inventory is sold and replaced. This ratio is calculated by dividing the cost of goods sold by the average inventory. A higher inventory turnover ratio means that the company is selling more inventory and is more efficient at managing its inventory.
Days on Hand
Days on hand is the average number of days that an item is in stock before it is sold. It is calculated by dividing the average inventory by the cost of goods sold. A lower days on hand means that the company is selling more inventory faster, which is an indication of efficient inventory management.
Cost of Goods Sold
The cost of goods sold is the total cost of the inventory that is sold in a given period. It includes the cost of the inventory items, the cost of the labour used to produce the items, and any other related costs. A higher cost of goods sold indicates that the company is not managing its inventory efficiently.
Inventory Accuracy
Inventory accuracy is the percentage of inventory items that are accurately accounted for in the company's records. It is calculated by dividing the number of inventory items that are correctly accounted for by the total number of inventory items. A higher inventory accuracy indicates that the company is managing its inventory correctly.
Inventory Holding Cost
Inventory holding cost is the cost of storing and maintaining inventory for a given period. This cost includes the cost of the storage, labour, and any other related costs. A higher inventory holding cost indicates that the company is not managing its inventory efficiently.
By monitoring Lagerkennzahlen, companies can identify areas in which they can improve their inventory management and forecasting systems. By doing so, they can increase their efficiency, reduce their costs, and improve their profitability.
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