2 OKR examples for Inventory Department

What are Inventory Department OKRs?

The Objective and Key Results (OKR) framework is a simple goal-setting methodology that was introduced at Intel by Andy Grove in the 70s. It became popular after John Doerr introduced it to Google in the 90s, and it's now used by teams of all sizes to set and track ambitious goals at scale.

Formulating strong OKRs can be a complex endeavor, particularly for first-timers. Prioritizing outcomes over projects is crucial when developing your plans.

We've tailored a list of OKRs examples for Inventory Department to help you. You can look at any of the templates below to get some inspiration for your own goals.

If you want to learn more about the framework, you can read our OKR guide online.

Building your own Inventory Department OKRs with AI

How to create great OKRs for any scenario in seconds

While we have some examples available, it's likely that you'll have specific scenarios that aren't covered here.

You can use Tability's AI generator to create tailored OKRs based on your specific context. Tability can turn your objective description into a fully editable OKR template -- including tips to help you refine your goals.

1. Go to Tability's plan editor
2. Click on the "Generate goals using AI" button
3. Use natural language to describe your goals

Tability will then use your prompt to generate a fully editable OKR template.

How to improve existing OKRs with AI feedback

If you already have existing goals, and you want to improve them. You can use Tability's AI feedback to help you.

1. Go to Tability's plan editor
2. Add your existing OKRs (you can import them from a spreadsheet)
3. Click on "Generate analysis"

Tability's Strategy Map makes it easy to see all your org's OKRs

Tability will scan your OKRs and offer different suggestions to improve them. This can range from a small rewrite of a statement to make it clearer to a complete rewrite of the entire OKR.

You can then decide to accept the suggestions or dismiss them if you don't agree.

Using the free OKR generator to get a quick template

If you're just looking for some quick inspiration, you can also use our free OKR generator to get a template.

Unlike with Tability, you won't be able to iterate on the templates, but this is still a great way to get started.

Our Inventory Department OKRs examples

You'll find below a list of Objectives and Key Results templates for Inventory Department. We also included strategic projects for each template to make it easier to understand the difference between key results and projects.

Hope you'll find this helpful!

1. OKRs to implement comprehensive Asset Management Tool

ObjectiveImplement comprehensive Asset Management Tool
KRTrain 90% of the team on using the Asset Management Tool effectively
Monitor and assess training effectiveness
Identify team members lacking tool training
Arrange focused tool-use training sessions
KRImprove inventory tracking efficiency by 60% using the new Asset Management Tool
Implement the new tool into the current inventory system
Train staff on how to use the new Asset Management Tool
Analyze and adjust the tool's usage for optimal efficiency
KRIdentify and select an appropriate Asset Management Tool by analyzing 5 options
Analyze each tool's features, costs, and customer reviews
Research and list down five potential asset management tools
Decide and select the most suitable asset management tool

Use template

2. OKRs to decommission all identified systems by 2024

ObjectiveDecommission all identified systems by 2024
KRConduct final review to ensure all decommissioned systems are properly shut down
Document final review findings
Confirm cessation of systems via verification protocols
Identify all systems slated for decommission
KRSuccessfully decommission 50% of identified systems by end of quarter
Execute decommissioning safely and efficiently
Identify essential vs. non-essential systems for business operations
Develop a detailed decommissioning plan and schedule
KRComplete inventory of all systems slated for decommission by end of quarter
Finalize and document inventory report
Conduct thorough inventory of these systems
Identify all systems scheduled for decommissioning

decommissioning inventory-management system-administrator it-project-manager it-department project-management-team

Use template

Inventory Department OKR best practices

Generally speaking, your objectives should be ambitious yet achievable, and your key results should be measurable and time-bound (using the SMART framework can be helpful). It is also recommended to list strategic initiatives under your key results, as it'll help you avoid the common mistake of listing projects in your KRs.

Here are a couple of best practices extracted from our OKR implementation guide 👇

Tip #1: Limit the number of key results

Having too many OKRs is the #1 mistake that teams make when adopting the framework. The problem with tracking too many competing goals is that it will be hard for your team to know what really matters.

We recommend having 3-4 objectives, and 3-4 key results per objective. A platform like Tability can run audits on your data to help you identify the plans that have too many goals.

Tip #2: Commit to weekly OKR check-ins

Setting good goals can be challenging, but without regular check-ins, your team will struggle to make progress. We recommend that you track your OKRs weekly to get the full benefits from the framework.

Being able to see trends for your key results will also keep yourself honest.

Tip #3: No more than 2 yellow statuses in a row

Yes, this is another tip for goal-tracking instead of goal-setting (but you'll get plenty of OKR examples above). But, once you have your goals defined, it will be your ability to keep the right sense of urgency that will make the difference.

As a rule of thumb, it's best to avoid having more than 2 yellow/at risk statuses in a row.

Make a call on the 3rd update. You should be either back on track, or off track. This sounds harsh but it's the best way to signal risks early enough to fix things.

How to track your Inventory Department OKRs

Your quarterly OKRs should be tracked weekly in order to get all the benefits of the OKRs framework. Reviewing progress periodically has several advantages:

It brings the goals back to the top of the mind
It will highlight poorly set OKRs
It will surface execution risks
It improves transparency and accountability

We recommend using a spreadsheet for your first OKRs cycle. You'll need to get familiar with the scoring and tracking first. Then, you can scale your OKRs process by using a proper OKR-tracking tool for it.

Tability's Strategy Map makes it easy to see all your org's OKRs

If you're not yet set on a tool, you can check out the 5 best OKR tracking templates guide to find the best way to monitor progress during the quarter.

More Inventory Department OKR templates

We have more templates to help you draft your team goals and OKRs.