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Inventory Days on Hand (DOH) is an ecommerce metric used to determine how quickly a business utilises its inventory levels on average. The DOH value represents inventory liquidity, i.e. the number of days the inventory remains in stock.
It can be calculated by the illustrated formula:
Note: A low DOH indicates you are efficient with how you purchase, store and sell your stock. In contrast, a high DOH shows that you are struggling to clear your stock.
There are many reasons for businesses to calculate inventory days on hand, such as:
1. Lower costs
When you store your inventory, storage costs depend on the duration of time. That means the fewer inventory days on hand you have, the more money you can save on warehousing and upfront inventory investment.
2. Fresher products in front of your customers
When products sit on the shelves for too long, they literally go stale, especially those with expiration dates. Even seasonal clothing gets hard to sell. If you bring your customers new products and refreshed stock more often, you can create a positive and creditable brand image.
3. Faster profits
By reducing your inventory days on hand, you increase the rate at which you deplete inventory. That means you’re moving inventory quicker and thus generating revenue faster.
There are various strategies to reduce inventory days on hand, such as:
It's crucial to manage inventory wisely as it takes up one of the largest portions of operational capital. By calculating inventory days on hand and applying it, you can determine the average duration of cash tied up in inventory and take revenue-oriented decisions.