FSN stands for fast-moving, slow-moving and non-moving items. It looks at quantity, consumption rate and how often the item is issued and used. It helps in arrangement of stocks in stores and their distribution and handling methods. The main aim of this analysis is to control obsolescence of the inventories. If there is a rapid change in technology then this classification will have to be updated more often.

FSN analysis is stock turnover ratio based analysis. Stock turnover ratio is defined as the ratio of annual consumption of a material divided by its average inventory. The items can be classified into three categories:

XYZ Analysis is always done for the current Stock in Inventory and aims at classifying the items into three classes based on their Inventory values. The current value of the items / variants in the Inventory alone is taken into consideration for the Analysis and it is not possible to do this analysis for any other dates.

In any industry, not all items are required with the same frequency. Some materials are needed regularly, other items are needed occasionally and some other items may have become obsolete and might not have been demanded for years.

The XYZ analysis when combined with FSN analysis helps formulate more specific strategies. It provides more focused direction on the disposal of specific stock and therefore improve the company’s capital position.

A closing stock theory applied to a combination of XYZ with FSN indicates: if a non-moving (N) item is found in X category (i.e. NX category), the decision is to dispose of the N items by selling them off. It will free up space and increase capital.

Inventory ageing reports tell you the number of days an item has been sitting in inventory based on the receipt date. Having access to this kind of information allows you to make informed decisions when it comes to what and how many products to purchase.

It is critical to identify the stock level and stock age in order to improve purchasing decisions and developing sales strategies. An inventory ageing report is a list of the items on hand grouped by the length of time in inventory. It is used to identify slow moving inventory and understand the additional costs to store/maintain these products until they are sold.

Stockouts almost always make it to the “worst nightmare” lists of retailers, and for good reason. Not only do they lead to lost sales, they also result in reduced customer satisfaction and lower loyalty levels.

To overcome Out of Stock issues, this report will help you analyze the number of products that will be out of stock and the quantities you need to have in stock.

This report also helps you identify FSN classification for out of stock products which helps you determine if keeping the stock will be in benefits to you or not.

Excess inventory is another nightmare for businesses; it locks cash and can lead to major losses. Excess inventories for items that are not active can ruin successful businesses.

This report helps you stop ordering too much inventory which can lead to major losses. It also helps categorize existing inventories in XYZ classification and FSN classification.

It’s always painful for most of the business to track the inventory movements, especially when you have a large product catalogue or high frequent inventory transactions. This app helps you to track the inventory for specific periods or up to a certain date for all products for all warehouses. Users can filter reports by products category, products, companies and warehouses.