Inventory Accuracy (Dollars)
This PDF report includes benchmarking data (in a visual, chart-based format), an comprehensive KPI definition, characteristics of high performers and technical details on measuring Inventory Accuracy (Dollars). Purchase and download this easy-to-understand, presentation-ready report immediately to compare performance levels, set attainable performance targets, and push towards best-in-class performance for this KPI.
What is Inventory Accuracy (Dollars)?
The absolute difference between reported and physical inventory levels (measured in dollars), as a percentage, subtracted from 100%.
Why should Inventory Accuracy (Dollars) be measured?
Inventory Accuracy measures the precision of the controls set in place to maintain correct inventory counts. Low values for this KPI may suggest that the company has issues with theft, poor inventory tracking, insufficient training for warehouse employees, supplier documentation errors, too many people responsible for inventory control or inadequate systems in place for defining units of inventory (units vs. cases vs. pallets, etc.). Low performers in Inventory Accuracy will not only have to spend time and money resolving inventory accuracy issues, but they also risk not knowing the true amount of inventory on hand, which increases the risk of stock-outs and backorders for customers.
Download a Sample Inventory Accuracy (Dollars)
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