?? Freelance Project: Optimizing Inventory Management with Power BI
As a freelance data analyst, I’ve had the pleasure of working on an exciting project that combines data from warehouse purchasing and inventory movements. Let me share the highlights of this project and how I transformed raw data into actionable insights using Power BI:
- Data Cleaning and Integration:I started by cleaning and integrating the two datasets provided by client: Warehouse Purchasing and Inventory Data. These columns hold critical information about PO numbers, material details, vendors, quantities, and more.
- Creating the Power BI Dashboard:My goal was to create an intuitive and informative dashboard that empowers decision-makers.Here’s what I included:1. Number of Materials:I visualized the total count of unique materials in your inventory. Knowing this helps client manage their stock variety effectively.2. Distribution of Annual Revenue:By analyzing historical sales data, I showcased revenue trends over the year. This insight guides strategic decisions related to budgeting and resource allocation.3. Sum of Sales Amount by Month:A dynamic chart displays monthly sales amounts. It’s essential for spotting seasonal patterns and planning accordingly.4. ABC Analysis:I categorized materials into A, B, and C segments based on their contribution to revenue. This classification helps prioritize inventory management efforts.5. Material Details Table:Our detailed table includes material numbers, average metrics, and key inventory parameters:Lead Time: How long it takes to restock. Re-order Point: The inventory level at which you should reorder.Safety Stock: Buffer stock to handle unexpected demand fluctuations.Annual Sale Quantity: A crucial metric for planning.
- Insights and Actionable Recommendations:Armed with this dashboard, you can: Optimize purchasing decisions by aligning them with sales trends. Identify slow-moving items and adjust shelving locations. Forecast vendor requirements for the next 12 months.
- Visualization Matters:I kept the dashboard clean, user-friendly, and visually appealing. Remember, great analysis deserves equally great visualization!
Feel free to customize and expand upon this LinkedIn post. Your project showcases the power of data-driven decision-making! ????
Note: The data and insights mentioned here are fictional for illustrative purposes
