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Inventory turnaround is a ratio which suggests about the total number of average inventory on hand for a specific period of time or total number of inventory turned around in a year. For example, the total number of inventory on hand is92,000 and the cost of goods sold is40,000. The inventory turnaround ratio will be92,000/40,000 which equals to2.3%. The inventory turnaround ratio suggests that the number of times inventory has been ordered and the number of times the inventory has been sold.
Turn Over is the number of Times you are able to seel your inventory Value.
if you want to be more accurate interms of calculating the Healthness of your inventory , you have to deduct Emergency and Warranty Sales from Sales to get the sales out of inventory.
Stock Mangement:
1- keep historical calls and Demand.
2-Min Max calculation based on Days of supply, buy as sold or Posssion.
3-Strong reporting system.
4- Inventory Team Knowledge.
5-Inactive stock reduction.
6-Stock Replenishment