Here is a list of terminology we use throughout the system, and documentation.
Metric name is the caption used in the reports and forms. Technical name is used in API, reference this in order to store or retrieve data.
Metric name | Technical name | Description |
---|---|---|
Avg inventory qty | avg_qty | Average stock over period of time. This is calculated by adding weekly ending balances and diving the total by the number of weeks. |
Avg inventory@cost | avg_cost | Average stock at cost value. |
Avg inventory@retail | avg_retail | Average sotck at retail value. |
BOP @ cost | ope_cost | Stock balance at cost value at the beginning of the period. |
BOP @ retail | ope_retail | Stock balance at retail value (VAT or tax inclusive) at the beginning of the period. |
BOP margin | ope_margin | Potential margin at the beginning of the period in stock. It indicates the maximum discount percentage which can be applied without taking a direct loss. |
BOP qty | ope_qty | Stock balance at the beginning of the period in retail units. |
Calculated sales | sales_tickets | This is a forecasted KPI used to reconcile physical footfall forecast and expected conversions with forecasted merchandise plan. |
Clearance markdown | clearance_markdown | Clearance markdown |
Clearance markdown % | clearance_markdown_rate | Clearance markdown rate |
Conversion rate | conversion_rate | Percentage of visitors who make a purchase. Higher value is better, and can be attributed to several factors such as efficient marketing or attractive product mix. |
Cost price | cost_price | Cost price of a single item. |
Current qty | current_qty | This represents most recent known balance. The system maintains historical weekly balances but this balance can be updated daily (or several times a day). |
Current@cost | current_cost | Most recent known balance at cost value. |
Current@retail | current_retail | Most recent known balance at retail value. |
Current+On order | current_order_qty | Quantity available in the future. This includes current stock and amounts in transit, and purchase orders. This value can be used to calculate the missing quantities. |
Days sales of inventory | dsi | Inventory days indicates how long an item is in stock before it is sold. Ideally this would equal to the lead time of the item. |
EOP qty | clo_qty | Stock on hand in the end of given period. Actual figures are loaded directly from source system, and forecasts are calculated. |
EOP@cost | clo_cost | Stock on hand in the end of given period at cost. Actual figures are loaded directly from source system, and forecasts are calculated. |
EOP@retail | clo_retail | Stock on hand in the end of given period at retail value. Actual figures are loaded directly from source system, and forecasts are calculated. |
Flat cover | cover_weeks | Flat cover or cover weeks is a metric that indicates for how many weeks stock would last given current sales. |
Forward cover | forward_cover | Forward cover indicates, how many weeks the stock on hand should last given the forecasted sales. In open to buy this is one of the key parameters. |
Full price | full_price | Full price is the item's inital price without discounts and markdowns. |
GMROI | gmroi | Gross Margin Return of Inventory is performance metric telling how much an item or category earns over time. Higher figure is better. |
Gross margin | gross_margin | Gross margin earned. |
Gross margin @ full price | gross_margin_full | Potential gross margin as if all products were sold at full price. |
Gross margin % | gm | Gross margin percentage. |
Gross margin % @ full price | gm_full | Potential gross margin percentage. |
Intake margin % | intake_margin | Intake margin is the percentage applied to given purchase batch in the open to buy. By default the margin from opening balance is used but here it can be overriden. |
Intake qty | intake_qty | Approximate intake units calculated based on the current (opening) average price. |
Intake@cost | intake_cost | Intake at cost price, i.e. the pruchasing budget given the margin objective. |
Intake@retail | intake_retail | Intake at retail price. This is forecastable figure, and other intake values are calculated based on this. |
Inventory turnover | inventory_turn | Inventory turnover shows how many times inventory sells during a year. |
Non-selling stock | non_selling | Non-selling stock is a calculated indicator. If it has value of 1 then the stocked item has not been sold during given time period. |
Number of receipts | ticket_count | Number of transactions in given store. |
Number of visitors | visitor_count | Number of visitors who come into the store, or ecommerce site. Also called Footfall. |
On order qty | order_qty | On order is essentially the same as intake but forecasted either at cost or units. |
On order qty | current_order | Units currently on order. |
On order@cost | order_cost | On order cost can be forecasted or is calculated from quantity based on the price as defined by opening balance. |
On order@retail | order_retail | Retail value is calculated using Intake Margin. |
Optimal qty | opt_qty | Optimal quantity in hand. This value is calculated from optimal retail value. |
Optimal@cost | opt_cost | Optimal stock in hand at cost value. This is calculated from retail value based on the gross margin. |
Optimal@retail | opt_retail | Optimal stock in hand. Optimal stock is the forecasted sales for the number of weeks defined by forward cover. |
OTB qty | otb_qty | Open to buy represented in units. This is approximate figure based on average price within given category. |
OTB@cost | otb_cost | Open to buy represented at cost. |
OTB@retail | otb_retail | Open to buy represented at retail value. |
Overbought qty | ob_qty | Overstocked amount at any given time based on the future demand. |
Overbought@cost | ob_cost | Overstocked amount at cost value. |
Overbought@retail | ob_retail | Overstocked amount at retail value. |
Permanent markdown | permanent_markdown | Permanent markdown is used to report the purpose of the discount. By definition, permanent markdown is applied to goods whose end of life is reached such as previous season fashion and electronics. Once applied the price is not going up again as opposed to POS or promo markdown. It is mosty used in open to buy scenarios when you may want to access purchasing budget while old goods are still in the inventory. |
POS (promo) markdown | promo_markdown | POS or promotional markdown is any discounted price which is temporary, or is applied given specific rules such as loyalty program. |
POS (promo) markdown % | promo_markdown_rate | Discount percentage. This figure is forecastable. |
Realized markdown | realized_markdown | Realized markdown is portion of the permanent markdown which was sold during given period of time. For example, if you apply permanent markdown of 20% to your entire collection of original 100k value then permanent markdown amnount is 20k, and if you sell 50% of your stock during given period then realized markdown for this period would be 10k. |
Sales @ full price | sales_full | Sales at full price, i.e. the item(s) original shelf price. It is calculated by adding all discounts back to the retail sales. |
Sales @ retail price | sales_retail | Actual reported sales, or forecasted sales at retail value, tax inclusive. |
Sales cost | sales_cost | Cost of goods sold. For actual figures it is taken directly from the inventory management system. |
Sales excl. VAT | sales_ex_vat | Sales excluding VAT, this is the figure the company finance operates with. |
Sales LY | sales_retail_ly | Actual reported sales from last year's corresponding week. The value is used for comparison purposes and is available only if the source data has been loaded to the system. |
Sales quantity | sales_qty | Retail units sold. |
Sales YOY | sales_retail_yoy | Yea-over-year change in sales. |
Sales YOY % | sales_retail_yoyp | Yea-over-year change percentage in sales. |
Sell-through | sell_thru | Sell through indicates how much of the opening stock is was sold during given period. |
Selling price | retail_price | Selling price of an item. |
Shrinkage % | shrink_rate | Shrinkage as percentage of sales. |
Shrinkage qty | shrink_qty | Shrinkage is the amount of spoiled, or lost goods that can not be sold or returned to the supplier. |
Shrinkage@cost | shrink_cost | Shrinkage at cost value is typically what is reported on the P&L statement. |
Shrinkage@retail | shrink_retail | Shrinkage at retail value. |
Stock sales | stock_sales | Sales at retail with temporary discounts added back (but excluding any permanent markdowns). |
Total markdown | total_markdown | Total markdown sums up all different discounts. |
Underbought qty | ub_qty | Amount that is needed to fulfill the future demand, the Open To Buy in sales units. This is an approximate figure given the average cost within category. |
Underbought@cost | ub_cost | Amount that is needed to fulfill the future demand at cost, this is essentially the purchasing budget. |
Underbought@retail | ub_retail | The Open To Buy in retail value (i.e. the selling price). |
VAT rate | vat_rate | VAT or sales tax rate. For actual figures it is taken directly from the data source. For forecasting purposes it must be entered to the system. |