Theoretical Days On-Hand Report
Overview:
The purpose of the Theoretical Days On-Hand Report is to help you determine how close you are to running out of an item, or how soon before you need to order or prepare more. It does this by reporting how many more days an item is projected to last before it runs out of stock.
Things to know!
- This report will only be accessible and visible to users who are given access to this report.
- This report first calculates the amount of each item that is theoretically on hand.
- The report next calculates the average daily theoretical usage projection for each item.
- The report then divides the theoretical on hand by the daily theoretical usage to determine the theoretical days on hand for each item.
- This report will include Inventory, Recipe, Combined, and Production Items that are counted.
- This report defaults to print item values by Pack Size. Items can be configured, however, to report by Count Unit for this report. For more information on changing the "Reporting Unit", please see this link: Report Units - FAQs.
Report Parameters
To Run a Theoretical Days On-Hand Report, navigate to Inventory>Reports>Extensions>Theoretical Days On-Hand Report. Upon selection, a Report Parameters screen like the one below will display:
Site: Use the drop-down search to select a Site (unless you are logged into a site).
Report Date: From the drop-down calendar, select the desired date for the report. You will normally select today's date.
Use Open Transfer Requests: If you are using transfers, and if you want to include requests for this Site that have not yet been fulfilled in the theoretical on-hand calculation, then check this box.
Use Open Orders: If you are using ordering, and if you want to include orders for this Site that have not yet been received in the theoretical on-hand calculation, then check this box.
Number of Weeks to Use in Projection: The usage projection can look back for as many weeks as you have history to calculate the usage projection. 6 weeks is normally enough time.
Number of Weeks to Skip: Oftentimes you may be selecting a report date that is in the middle of the week and you will not have a full week of sales to be utilized in the projection. The typical configuration is, therefore, to skip the current week by entering 1 so the projection will not include the current week.
Exclude High and Low Quantities: If you think that within the weeks selected for the projection, you have days with higher and lower than normal theoretical usage, then check this box to leave the highest and lowest day out of the projection calculation.
Project Usage for All Sites: This prompt only displays if you have multiple sites. If your selected site is a commissary or warehouse then you might want to project usage for all of the sites so their projected usage is factored into the calculation.
Inventory Department: If you want to run the report for a specific Inventory Department (an example might be the Food Department), you can use the drop-down to select your desired Department.
Inventory Category: If you want to run the report for a specific Inventory Category (an example might be White Wines), you can use the drop-down to select your desired Category.
Inventory Item Group: If you want to run the report for a specific Inventory Group (an example might be Dairy), you can use the drop-down to select your desired Group.
Run Report: Once you have selected your report parameters, click the Run Report button to list the report.
Theoretical Days On-Hand Report (Example):
Selecting to Run the Report will display a report similar to the one below:
The report sorts the items listed by Inventory Category. The Pack Size and Cost are included. You can also see the date the item was last counted.
The report next shows what the actual last inventory count quantity was. It then subtracts the theoretical usage since the last count date to determine the theoretical on-hand quantity.
The daily usage projection quantity is then divided by the theoretical on-hand quantity, to determine the theoretical days on hand. The days on hand represent the number of days before the item will be out of stock.
Report Options: For a description of the toolbar provided at the top of the report, please see "Report Options" for help. Report Options link.