KPI Benchmarks : Honeycomb Percentage
- Benchmark Range
- Benchmark Average
- Benchmark Sample Size (n) 45
* Is High or Low Best: Higher is Better
Honeycomb Percentage measures the efficiency with which the warehouse uses its cubicle storage space. Low values for this KPI may suggest that the warehouse is too large, inventory is being stored in improper places, demand forecasting is not accurate or that inventory replenishment processes are slow. Low Honeycomb Percentage is going to be costly to the company due to facilities, overhead and utilities costs that are not being used to generate revenue. Companies that do not make the most of their cubicle storage space also risk having stock-outs for customer orders.
The total amount of warehouse cube space (i.e., a single storage area or container) being used divided by the total warehouse cube space available for use at the same point in time, as a percentage.
KPI Best Practices
- Perform audits of warehouse design to identify opportunities to increase storage utilization
- Use proper equipment to maneuver through small spaces and reach high storage areas
- Store inventory in cubicles that most closely fit the size of the pallet, package, etc.
KPI Calculation Instructions Honeycomb Percentage?
Two values are used to calculate this KPI: (1) the amount of warehouse cubicle space being used at the time of measurement, and (2) the total amount of potential warehouse or facility cubicle space. Warehouse space is in use if it is storing goods/materials for future shipment at the time of measurement. Only include cubicle space in this calculation. Do not include floor space in this calculation. This KPI is measured in terms of number of cubicle storage spaces as opposed to square or cubic feet.
KPI Formula :
(Amount of Warehouse Cubicle Space Used / Total Warehouse Cubicle Space) * 100