Analytics
Click the analytics button to show the inventory details and history chart.
History Chart
The history chart shows the inventory stock level for a part plotted using time as the x-axis. You may mouse over the plotted points to see more details about the inventory event. If the event is associated with a Work Order, the work order and work entry will be shown.
Click a data point to open the associated Work Order in a new browser tab.
Interpreting the History Chart
Interpreting your inventory history charts can help you minimize inventory, or predict when you may need to reorder.
- A descending line shows that parts are being consumed. 2. A spike upwards represents a restocking point where quantity has been added to the inventory.
- A wide spacing between data points indicates that there is a long time between usages. Consider not keeping the part in inventory, because it is rarely used.
- A narrow spacing between data points indicates that the part is frequently used.
- Places where the blue stock line falls below the grey reorder point are reorder points.
- Places where the blue stock line reaches zero are out of stock events.
Reorder Points
Reorder points are identified where the blue stock line falls below the grey reorder point line.
Out of Stock Events
Out of Stock events can be costly to your organization because they cause mechanics to stop working on an aircraft in order to wait for parts. Switching costs/time increase as mechanics move from one job to another, and the aircraft is moved in/out of the shop. It also increases the time the customer's aircraft must be held at your shop, taking up space that could be used for other active projects.
Inventory Optimization
There are many factors to consider when determining the quantity of a part that you wish to keep in inventory.
| factor | decision |
|---|---|
| usage rate | Keep parts in inventory that are commonly used. e.g. hardware, oil, oil filters |
| lead time | You may wish to keep parts in inventory that are commonly used, but have a long lead time to purchase. |
| cost / lead time ratio | Do not keep parts in inventory if the lead time is low and the cost is high. e.g. alternators |
Review your inventory status and history charts occasionally to fine tune your inventory.