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Find The Monthly Cost Of Your Inventory Management
Complete the following questions to estimate the monthly cost of managing your inventory.
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1
What is the average hourly employee rate for your company?
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This is the average hourly rate across all staff including sick leave, holiday pay etc.
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2
Hourly Labour Cost
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3
What would be the average total number of consumables purchase orders you make per month?
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The number of purchase orders over all consumables suppliers.
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4
How much time would it generally take to work out what consumables need to be ordered, from what supplier, what else needs to be ordered from that supplier etc?
*
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Average minutes
5 minutes
10 minutes
15 minutes
20 minutes
30 minutes
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5
How long does it take to place an order? (type out email, make a call, order online, visit the shop)
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Average minutes
5 minutes
10 minutes
15 minutes
20 minutes
30 minutes
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6
Once the order is delivered, how long does it take to collect the box from the courier and check the packing slip with purchase order?
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Average minutes
5 minutes
10 minutes
15 minutes
20 minutes
30 minutes
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7
How long does it usually take to pack away the items/put them on the shelf?
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Average minutes
5 minutes
10 minutes
15 minutes
20 minutes
30 minutes
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8
What would be the approximate time taken to process each invoice for payment?
*
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Average minutes
5 minutes
10 minutes
15 minutes
20 minutes
30 minutes
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9
Cost of POs
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10
What would be your average inwards goods freight cost?
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11
Cost of freight
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12
If an order needs following up (hasn't arrived on time, short shipment, backorders) what would be the average time taken to follow up each order?
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Average minutes
N/A
5 minutes
10 minutes
15 minutes
20 minutes
30 minutes
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13
How often do you need to follow up on orders?
*
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Average per month
0
1-3
4-6
7-9
10+
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14
If incorrect product arrives, what would be the average time taken to organise the return?
*
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Average minutes
N/A
5 minutes
10 minutes
15 minutes
20 minutes
30 minutes
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15
How often do you need to return incorrect product?
*
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Average per month
0
1-3
4-6
7-9
10+
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16
Cost of discrepancies
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17
Total Purchase Order Costs
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18
How much time does it take to tidy the storeroom?
*
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Each time
N/A
5 minutes
10 minutes
15 minutes
20 minutes
30 minutes +
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19
How often does the storeroom get tidied each month?
*
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Average per month
0
1-3 times
4-6 times
7-9 times
10+ times
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20
How much time would be lost each time staff are unable to find the product they need?
*
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Each time
N/A
2 minutes
5 minutes
10 minutes
15 minutes
20 minutes
30 minutes +
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21
How often are staff delayed due to disorganised/messy stock, and being unable to find what they need?
*
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Average per month
0
1-3 times
4-6 times
7-9 times
10+ times
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22
How long does each stock count take?
*
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Each time
N/A
5 minutes
10 minutes
15 minutes
20 minutes
30 minutes +
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23
How often do you do regular stock counts prior to placing an order?
*
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Average per month
0
1-3 times
4-6 times
7-9 times
10+ times
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24
When ordering a product, how often do you need to decide and choose between suppliers?
*
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Average per month
0
1-3 times
4-6 times
7-9 times
10+ times
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25
How long does it take to choose between suppliers?
*
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Each time
N/A
5 minutes
10 minutes
15 minutes
20 minutes
30 minutes +
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26
Total Stock Management Costs
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27
If product were to run out, what would be the time impact for things like: staff having to change the job they're working on, change tools, shift materials, interrupt managers and work mates, delays on job completion, advising customers of delays etc?
*
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Average minutes
0
1-10 minutes
11-20 minutes
21-30 minutes
31-40 minutes
41-50 minutes
60+ minutes
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28
On average, how often would you experience stock outs each month?
*
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Average per month
0
1-3
4-6
7-9
10+
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29
How much impact would using an alternative consumable have in time due to things like the job taking longer, problems with H&S etc?
*
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Average minutes
0
1-10 minutes
11-20 minutes
21-30 minutes
31-40 minutes
41-50 minutes
60+ minutes
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30
How often are staff having to use an alternative consumable product during an average month?
*
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Average frequency per month
0
1-3
4-6
7-9
10+
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31
Considering time taken to travel to the shop, talk & chat, stop for smoko on the way, find where an alternative is because the first shop didn't have it, wait in line at the shop, research best alternative if your normal product not immediately available etc, what would be the average time cost in visiting the local shop?
*
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Average minutes
0
1-10 minutes
11-20 minutes
21-30 minutes
31-40 minutes
41-50 minutes
60+ minutes
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32
How many times per month would staff need to travel to the local shop to buy consumables due to stock outs?
*
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Average frequency per month
0
1-3
4-6
7-9
10+
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33
Total Stockouts Cost
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34
Your estimated
monthly
overhead consumable inventory management costs are...
Any personnel as a direct fixed cost overhead (eg. stores-person, purchasing, inwards goods) associated to stock management, would have an additional expense amount to add to this figure.
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35
Name
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36
Email
example@example.com
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Should be Empty:
Estimated Costs Of Consumable Inventory Management
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