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Calculating Inventory Turns

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Debbie McCullen
Basic Member
Posts: 7
Basic Member
12/6/2016 1:15 PM

    Hello,

    My health system is using V10 of Lawson and cannot find a report that would show us Inventory Turns. Would anyone be willing to share your formula for this important calculation? From what I have been told, we never could calculate Inventory Turns from Lawson. Coming from the manufacturing world I find it a little difficult to believe a procurement software does not have this capability.

    Any help you an give me would be greatly appreciated.

     

    Thank you for your time.

    Sheri
    Veteran Member
    Posts: 163
    Veteran Member
    12/6/2016 1:21 PM
      Hi, I have looked for this as well, and have never been able to find a good method of calculating the inventory turns (using Lawson reporting). It would be helpful to have this as a Lawson report/screen.

      Mike Bernhard
      Veteran Member
      Posts: 101
      Veteran Member
      12/6/2016 1:34 PM
        There is a report. Try ic135
        Mike Bernhard
        Veteran Member
        Posts: 101
        Veteran Member
        12/6/2016 1:42 PM
          The formula:

          "Total dollar value of issues for a full year" divided by "total inventory value at a given point in time"

          This formula can be used on a single item or on a group of items (typically a full storeroom)
          David Williams
          Veteran Member
          Posts: 1127
          Veteran Member
          12/6/2016 1:49 PM
            'In order to calculate accurate turnover rates, you must run this program immediately after you close an inventory period.'
            David Williams
            Debbie McCullen
            Basic Member
            Posts: 7
            Basic Member
            12/6/2016 1:52 PM

              Thanks for your valid input! I will try this next month, as our period has closed last Thursday.

              Just to clarify, I would need to run IC135 after the period closes, correct?

              What does IC234 actually calculate?

              David Williams
              Veteran Member
              Posts: 1127
              Veteran Member
              12/6/2016 2:01 PM
                IC234 will calculate what your inventory balance was for a prior period. It takes the current valuation and backs into the previous valuation based upon the transactions that occurred since the previous period.
                David Williams
                David Williams
                Veteran Member
                Posts: 1127
                Veteran Member
                12/6/2016 2:03 PM
                  Fairly useful descriptions can be found under Help - Form Help for reports as well as data entry forms.
                  David Williams
                  The Alchemist
                  Advanced Member
                  Posts: 34
                  Advanced Member
                  12/6/2016 2:47 PM
                    I dont know if its the correct way but I would take my IC234 and divide it by my IC231 for the month and then (x) it by 12. It wont itemize but at least get you your overall turns.
                    No one ever seemed too keen on the IC135 but at least it will itemize it for you.
                    Debbie McCullen
                    Basic Member
                    Posts: 7
                    Basic Member
                    12/6/2016 4:19 PM
                      Thanks everyone for your great suggestions and help.
                      nataliem
                      New Member
                      Posts: 1
                      New Member
                      4/2/2019 8:43 PM
                        Does anyone have a SQL formula they can share to calculate Inventory Turns?? Please and Thanks!
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