Inventory Accuracy
Measures the accuracy of your inventory by taking a headcount of items in stock and comparing it to what's recorded in your database.
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Formula
# of Items counted / # of Items books count
Services
Role
Analyst, ManagerOverview
The Inventory Accuracy KPI compares the accuracy of your inventory by taking a headcount of items in stock and comparing it to what's recorded in your database. This KPI requires you to perform a headcount of inventory to ensure that your bookkeeping and data management practices are in order. Inaccurate inventory tracking can result in higher costs, poor order accuracy rates, and decreased customer satisfaction.
Monitoring Supply Chain KPIs on a Dashboard
Once you have established benchmarks and targets for Inventory Accuracy, you’ll want to establish processes for monitoring this and other supply chain KPIs. Dashboards can be critical in this regard. Read more
