Inventory Turnover Ratio Yang Baik

Otomatisasi Manajemen Inventaris

Dengan mengadopsi sistem manajemen inventaris yang terotomatisasi, perusahaan dapat meningkatkan akurasi dan efisiensi dalam pengelolaan persediaan.

Beberapa manfaat otomatisasi manajemen aset dan inventaris adalah:

What is a good inventory turnover ratio?

The higher your inventory turnover ratio, the better — within reason. Small-business owners should consider their product type and which inventory turnover ratio range is considered normal for their industry.

For example, grocery stores, bakeries and other businesses that sell food and perishable goods typically need to have the highest inventory turnover, because their products will expire and lose their value much faster than, say, a designer shoe store's inventory.

However, for non-perishable goods like shoes, there can be such a thing as an inventory turnover that's too high. While high inventory turnover can mean high sales volumes, it can also mean that you're not keeping enough inventory in stock to meet demand.

If your inventory turnover is low, your stock might be spending too much time sitting on your shelves, not being sold. That translates into money being wasted on inefficiently used storage space, plus the possibility that the longer the inventory sits around, the more likely it’ll get damaged or depreciate in value.

Perencanaan Permintaan yang Akurat

Analisis permintaan pasar yang baik dapat membantu perusahaan memprediksi dan merencanakan kebutuhan persediaan dengan lebih baik.

Ini memungkinkan perusahaan memiliki persediaan yang sesuai dengan permintaan aktual, menghindari kelebihan, atau kekurangan persediaan.

What is inventory turnover ratio?

Inventory turnover ratio (ITR), also known as stock turnover ratio, is the number of times inventory is sold and replaced during a given accounting period. It’s calculated by dividing the cost of goods sold (COGS) by average inventory. ITR shows the number of days it takes to sell inventory on hand.

Perbaiki Strategi Harga Produk

Perusahaan dapat memperbaiki strategi dalam menentukan harga produk untuk meningkatkan volume penjualan.

Dengan melakukan evaluasi dan analisis yang cermat, perusahaan dapat mengimplementasikan strategi penetapan harga yang efektif.5

Average inventory (AI)

To figure your average inventory value, or AI, add your starting inventory during a given period of time with your ending inventory during that same period of time, then divide that by two.

Once you’ve plugged in your numbers and worked the formula, here are some additional areas into which your ratio gives you more insight:

Sales performance: Are products moving off the shelf at a decent rate? Do you need to run special sales or pay attention to specific items and figure out how much holding them for longer is costing you? Are there any poorly performing products you should replace or remove altogether to improve your inventory balances? Your inventory turnover ratio can help lead you through important inventory control questions like these.

Holes in your marketing strategy: Is your product marketing strategy not doing the best job at product positioning? Is the ROI on your advertising efforts not panning out due to holding costs eating into your margins and diminishing your inventory value?

Improper pricing: A high inventory turnover ratio might mean you’re undercharging for your products—which will be reflected in your financial statements. This could mean you can charge more per unit or that you can prioritize a specific product’s inventory to sell more.

Inventory turnover calculation

Knowing how to calculate inventory turnover ratio starts with knowing your COGS, or cost of goods sold, as well as your average inventory.

How to use inventory turnover ratio

Now that you’ve figured out your ITR, let’s look at how to use it in your retail or ecommerce store.

When demand forecasting, you making predictions about future sales based on past sales data that are both qualitative and quantitative. Knowing how well you did in historical sales through each quarter makes it easier to plan for the next one and not get stuck with unsold goods.

Demand forecasting also helps with figuring out tasks like weighing the pros and cons of opening another store, inventory control, or planning for holiday sales, where you’ll need to order ahead for additional inventory.

Say you sell car parts and your historical inventory turnover ratio points to sales picking up the second quarter of the year. That gives you foresight into the amount of inventory you need to order months ahead of time to be ready for strong sales.

What is meant by turnover of inventory?

Turnover of inventory is a measure of how quickly a business sells its inventory during a given period of time. It’s calculated by dividing the cost of goods sold (COGS) by the average inventory for the period. A high turnover ratio indicates that the business is selling its inventory quickly, while a low ratio indicates that the business is not selling its inventory quickly enough.

What is a good inventory turnover ratio for retail?

A good inventory turnover ratio in retail depends on what you sell, how you sell it, and who you sell to. Research shows that the inventory turnover ratio benchmark for retailers is 10.86.

This means retailers restock their entire inventory over 10 times per year.

Consumer discretionary brands, which refer to nonessential but desirable goods like luxury clothing, replenish their inventory nearly seven times per year.

Grocery stores and other businesses that sell perishable goods often have a higher inventory turnover ratio because their products expire.

As of Q1 2023, CSIMarket reports the average inventory turnover ratios per economic sector are: