How to create reports for Inventory Turnover Ratio?

FloorvdP
Visitor
2 0 1

Is there a Shopify app that can make reports of inventory turnover ratio for products? Or another way to get reports for this? (the way to calculate this for a certain period is the COGS/[average inventory value])


I did look at the "Percent of inventory sold" report that Shopify has in it's standard reports, but that does not do what I want: there only the starting quantity for the inventory is taken into account, and not the average quantity in a period. Also, that report looks at the variant level, whereas I'd like to look at the aggregated number for all variants of a product.

 

What probably is problematic, is that Shopify (as far as I know) does not track historic inventory data...And you need this for the Average Inventory Value. So I reckon I can not ask for instance Better Reports to make a report for this. 

Does anyone know anything that could help?

Replies 4 (4)

marleyandmoose
Tourist
8 0 2

I know this may be a more niche skillset, but the way I was able to figure this out was using the Shopify API.  We export everything daily and take a snapshot.  We store in SQL and use Tableau for reporting.  If you're not good at SQL you can also write to like a CSV.  If you don't have time to learn the API, the other alternative is just exporting the inventory levels manually.  Not a great solution, but we went through the same thing for a while before deciding the tech nerd route was the best course of action.

FloorvdP
Visitor
2 0 1

An update: I have heard in the meantime that probably the apps Glew, Polar Analytics and Inventory Planner could do this

thefourthplace
Explorer
53 0 48

@Shopify Support Folks:

Once again, I search for basic retail functionality, and find only post with no reply. At least this time the official Shopify response wasn't to push us to buy a paid app.

It looks like Shopify has a policy of not building basic retail functionality into Shopify, because you prefer to make a cut of app sales to providing functionality. "Turns" or "Turnover" is such a basic piece of retail analysis that you even have a blog article that shows how to calculate it manually. Why am I paying for "POS Pro" if you don't have Retail for Dummies level features built in?

Ian Struckhoff
The Fourth Place
https://thefourthplaceforgeeks.com
TheLearnary
Tourist
3 0 2

Ugh. I was really hoping there would be an easy reporting function :-(. Really does seem like basic stuff.