You want to monitor inventory.
You need a simple dashboard.
You need five key numbers.
You need weekly tracking.
Inventory dashboard. Five numbers. Weekly monitoring. Your control.
This guide shows you how.
Dashboard design. Key metrics. Weekly tracking. Your system.
Read this. Set up dashboard. Monitor weekly.
Key Takeaways
- Number 1: Inventory turnover—use Inventory Turnover Calculator weekly to track efficiency
- Number 2: Days on hand—see how many days inventory sits before sale
- Number 3: Stockout incidents—track frequency and impact of stockouts
- Number 4: Surplus inventory—monitor excess stock levels and costs
- Number 5: Reorder status—track which items need reordering and when
Table of Contents
Why Dashboard Matters
Dashboard enables control.
What happens without dashboard:
- Problems go unnoticed
- Trends are missed
- Stockouts occur
- Surplus accumulates
What happens with dashboard:
- Problems are visible
- Trends are tracked
- Stockouts are prevented
- Surplus is minimized
The reality: Dashboard enables management.
Number 1: Inventory Turnover
Track inventory turnover weekly:
Calculate Weekly
Calculate it:
- Use our Inventory Turnover Calculator
- Enter weekly cost of goods sold and inventory
- See turnover ratio
Why it matters: Turnover shows efficiency.
Track Trends
What trends to track:
- Increasing turnover: Improving
- Decreasing turnover: Declining
- Stable turnover: Maintaining
- Volatile turnover: Unstable
Why it matters: Trends reveal direction.
Set Targets
What targets to set:
- Industry benchmark
- Historical best
- Improvement goal
- Minimum acceptable
Why it matters: Targets guide action.
Pro tip: Track turnover weekly. Calculate weekly, track trends, set targets. Use our Inventory Turnover Calculator for calculation.
Number 2: Days on Hand
Track days on hand weekly:
Calculate Weekly
What to calculate:
- Days inventory sits before sale
- Average holding period
- Cash tie-up duration
- Inventory age
Why it matters: Days show holding period.
Monitor Changes
What changes to monitor:
- Increasing days: Slowing
- Decreasing days: Speeding
- Stable days: Maintaining
- Seasonal variations
Why it matters: Changes reveal problems.
Compare to Targets
What to compare:
- Actual days vs. target
- Industry benchmarks
- Historical averages
- Optimal levels
Why it matters: Comparison shows position.
Pro tip: Track days weekly. Calculate weekly, monitor changes, compare to targets. See our inventory turnover basics guide for understanding.
Number 3: Stockout Incidents
Track stockout incidents weekly:
Count Stockouts
What to count:
- Number of stockout incidents
- Items that stock out
- Frequency of stockouts
- Impact on sales
Why it matters: Counting shows problems.
Analyze Causes
What causes to analyze:
- Demand exceeded forecast
- Supplier delays
- Reorder point too low
- Safety stock insufficient
Why it matters: Analysis enables prevention.
Take Preventive Action
What actions to take:
- Adjust reorder points
- Increase safety stock
- Improve forecasting
- Address supplier issues
Why it matters: Actions prevent recurrence.
Pro tip: Track stockouts weekly. Count incidents, analyze causes, take action. See our inventory optimization guide for strategies.
Number 4: Surplus Inventory
Track surplus inventory weekly:
Identify Surplus
What to identify:
- Items with excess stock
- Slow-moving inventory
- Obsolete items
- Overstocked SKUs
Why it matters: Identification enables action.
Calculate Surplus Cost
What costs to calculate:
- Holding costs
- Storage costs
- Opportunity costs
- Obsolescence risk
Why it matters: Cost shows impact.
Take Reduction Action
What actions to take:
- Stop ordering surplus items
- Discount to move
- Clear excess stock
- Adjust reorder points
Why it matters: Actions reduce costs.
Pro tip: Track surplus weekly. Identify surplus, calculate costs, take action. See our SKU profitability guide for analysis.
Number 5: Reorder Status
Track reorder status weekly:
Check Reorder Points
What to check:
- Items at reorder point
- Items below reorder point
- Items approaching reorder point
- Reorder urgency
Why it matters: Checking prevents stockouts.
Monitor Order Status
What to monitor:
- Pending orders
- Order delivery dates
- Supplier performance
- Order fulfillment
Why it matters: Monitoring ensures supply.
Take Reorder Actions
What actions to take:
- Place orders as needed
- Expedite urgent orders
- Adjust reorder points
- Coordinate with suppliers
Why it matters: Actions maintain stock.
Pro tip: Track reorder status weekly. Check reorder points, monitor orders, take actions. See our inventory optimization guide for reorder strategies.
Dashboard Setup
Set up your dashboard:
Weekly Calculation Routine
What routine to establish:
- Calculate turnover weekly
- Calculate days on hand weekly
- Count stockouts weekly
- Identify surplus weekly
- Check reorder status weekly
Why it matters: Routine ensures consistency.
Dashboard Format
What format to use:
- Simple spreadsheet
- One-page summary
- Visual charts
- Color-coded alerts
Why it matters: Format enables quick review.
Action Triggers
What triggers to set:
- Turnover below target
- Days above target
- Stockout incidents
- Surplus identified
- Reorder needed
Why it matters: Triggers enable action.
Pro tip: Set up dashboard. Weekly routine, simple format, action triggers. Use our calculators for accurate data.
Your Next Steps
Set up dashboard. Track five numbers. Monitor weekly.
This Week:
- Review this guide
- Set up dashboard format
- Calculate all five numbers
- Establish weekly routine
This Month:
- Track numbers weekly
- Identify trends
- Take actions as needed
- Refine dashboard
Going Forward:
- Monitor weekly continuously
- Track trends over time
- Adjust targets as needed
- Maintain dashboard system
Need help? Check out our Inventory Turnover Calculator for turnover tracking, our inventory turnover basics guide for understanding, and our inventory optimization guide for strategies.
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FAQs - Frequently Asked Questions About Lean Inventory Dashboard: The 5 Numbers to Watch Weekly to Avoid Stockouts and S
What are the five key numbers I should track weekly on my inventory dashboard?
Inventory turnover, days on hand, stockout incidents, surplus inventory levels, and reorder status.
Learn More...
Inventory turnover measures how efficiently you're selling through stock—higher is generally better.
Days on hand shows how long inventory sits before being sold, revealing cash tied up in unsold goods.
Stockout incidents track how often you run out of products, which directly impacts lost sales and customer satisfaction.
Surplus inventory identifies excess stock that's costing you money in holding, storage, and obsolescence.
Reorder status monitors which items are at, below, or approaching their reorder point so you can act before stockouts happen.
How do I calculate and track inventory turnover on a weekly basis?
Divide your weekly cost of goods sold by your average inventory value to get your turnover ratio, then track trends over time.
Learn More...
Use an inventory turnover calculator to input your weekly COGS and current inventory value.
Track the ratio week over week to identify trends: increasing turnover means improving efficiency, decreasing turnover signals slowing sales or overstocking.
Set targets based on your industry benchmark, your historical best, and a minimum acceptable level.
Volatile turnover that swings widely week to week may indicate demand instability or inconsistent purchasing—investigate the root cause.
What causes stockouts, and how can I prevent them with weekly tracking?
Stockouts are caused by demand exceeding forecasts, supplier delays, reorder points set too low, or insufficient safety stock. Weekly tracking catches these problems early.
Learn More...
Count stockout incidents each week and log which specific items ran out. This reveals patterns—certain SKUs may be chronically understocked.
Analyze root causes: did demand spike unexpectedly? Did a supplier miss a delivery? Was the reorder point calculated too low?
Take preventive action by adjusting reorder points upward for frequently stocked-out items, increasing safety stock levels, improving demand forecasting, and addressing supplier reliability issues.
Weekly tracking lets you catch and fix stockout patterns before they become chronic revenue killers.
How do I identify and reduce surplus inventory that's tying up cash?
Flag items with excess stock, slow-moving inventory, and obsolete SKUs weekly, then calculate the holding costs and take reduction action.
Learn More...
Each week, identify items with stock levels significantly above their reorder point or target—these are your surplus candidates.
Look for slow-moving inventory that hasn't sold in weeks and obsolete items that likely won't sell at all.
Calculate the true cost of surplus: holding costs (warehouse space), storage costs, opportunity costs (cash tied up), and obsolescence risk.
Take action by stopping reorders on surplus items, discounting to move excess stock, clearing obsolete inventory, and adjusting future reorder points downward.
How should I set up my weekly inventory dashboard format for quick, actionable reviews?
Use a simple one-page spreadsheet with color-coded alerts for each of the five metrics, plus action triggers that tell you exactly when to intervene.
Learn More...
Create a weekly calculation routine: calculate all five numbers on the same day each week for consistency.
Use a simple spreadsheet or one-page summary with visual charts—don't overcomplicate it. The goal is a quick review, not an exhaustive analysis.
Add color-coded alerts: green when metrics are within target, yellow when approaching thresholds, red when action is needed.
Set specific action triggers: turnover below your target, days on hand above your target, any stockout incidents, surplus identified, or items needing reorder.
A well-designed dashboard should take less than 30 minutes to review each week while giving you full visibility into inventory health.
What is 'days on hand' and why does it matter for cash flow management?
Days on hand measures how many days your inventory sits before being sold—higher numbers mean more cash tied up in unsold goods.
Learn More...
Days on hand is calculated by dividing your current inventory value by your average daily cost of goods sold.
If your days on hand is high, you're holding too much inventory relative to your sales rate, which ties up cash that could be used elsewhere.
Monitor this metric for changes: increasing days signal slowing demand or overpurchasing, while decreasing days may indicate improving sales efficiency.
Compare your days on hand to industry benchmarks and your own historical averages to set realistic targets for improvement.
Sources & Additional Information
This guide provides general information about inventory dashboards. Your specific situation may require different considerations.
For inventory turnover calculation, see our Inventory Turnover Calculator.
For inventory turnover basics, see our Inventory Turnover Basics Guide.
For inventory optimization, see our Inventory Optimization Guide.
Consult with professionals for advice specific to your situation.
