Inventory management requires using a specific system to track the endless records of the stock data, purchase order data, supplier data and expiry data, and several other details associated with them. While utilising a system or approach improves the quality of management, having a tracking tool drives this quality. This is where a dashboard helps.
A dashboard provides improved visibility of your overall inventory through multiple views or sets of information necessary to run the inventory. This information is decisive and is helpful in solving the high-level problems that you usually face.
What problems does a dashboard solve?
Having a dashboard helps you understand what happened in your inventory and what will happen wrt to expiry, near expiry, low stock, pending orders, payments, and other meaningful insights. This enables an inventory manager to set up an agenda to plan well on further steps and act on them. Better and precise visibility on every end of your inventory helps you with decision-making. All you need is relevant information to decide what needs to be done to make informed decisions for a smooth-running inventory.
Advantages of using an Inventory Dashboard
Inventory dashboard is like a manual to the entire inventory that points to the status of your current stock, expiry, orders, and wastages to help you make better decisions without any delay. That’s not just it, the other advantages of having a comprehensive dashboard for your laboratory’s inventory are as follows -
- Provides actionable insights to help you foresee the financial status of your inventory.
- Enables you to utilize the about-to-expire stock in a more proactive way
- Gives you a comparative outlook to plan better.
- Helps you have a close analysis of data - for example, department-wise & store-wise data.
- Helps you understand, track and map pending payments to suppliers and incomplete orders.
- Enables you to have better visibility of your entire store information by value and details.
- Provides you with enough information to help you manage your lab functions better so as to reduce the value of wastage and disposables.
Feature Update: Inventory Dashboard
CrelioHealth Inventory offers you a dashboard that helps you view, track and monitor your end-to-end inventory data all from one place. We build it to provide you the right information at the right time, right place with a multi-layer view. The crucial feature gives you enough data to take urgent action and helps you derive answers for situations like how can you manage expiry?!
For example, if you are able to get real-time data on the near-expiry stock, how does an inventory dashboard help -
- You can get a list of those items and share it with your team to prioritise where they have to act first. Since on a usual note, the inventory team lack information, a dashboard at such times helps.
- The dashboard can help you know every order detail over a click. This would help your team backtrack information to prevent expiry or wastage in the long run.
- With a multi-layer view, comparison of near expiry to past consumption becomes absolutely easy. This way teams can verify how to target consumption of near-expiry stock wrt to past consumption data and take better decisions. This will keep the ongoing operations actively functional without any discrepancy.
CrelioHealth inventory makes all things possible through their inventory dashboard
The dashboard allows you to do the following -
- Take urgent action - Know your stock below alert level and near expiry to take urgent action for consumption or better utilisation of your inventory
- Analyse current stock - Get a real-time view of your current stock in detail for each department and study the top consumptions by value
- Track and manage orders - The order management view allows you to plan timely payments to suppliers which are important to keep a good relationship with suppliers. One view with department wise order for stock transfer can help you act decisively
- Know your inventory wastage - Closely study expired and disposable stock against date and value to set a better inventory management strategy to prevent it. Department and store-level wastage gives you direction on where to put checks and balances
If you are interested in knowing more about this feature please connect with our team or drop in your queries about this product.
At CrelioHealth, we are planning to enhance our Inventory with new features and upgrades to help you utilise your lab’s inventory better and efficiently. Know more about CrelioHealth Inventory here.