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Inventory Management

Keeping an Eye Out for Opportunities

All supply chain events, trends, and issues – good or bad – can lead to new opportunities if you’re vigilant. One of the most successful strategies for success for executives follows the Occam’s Razor concept of simplicity – keep an eye out for opportunities. It is amazing how often [...]

Succeed During These Turbulent Times – Manage for Cash Part 2

In today's economic and business environment, cash is king. The critical importance of cash in businesses continues to rise. One just has to read the news to see cash highlighted on a daily basis in relation to several high profile companies - GM, Chrysler, MGM Mirage, GE Capital etc. [...]

Succeed During These Turbulent Times – Manage for Cash Part 1: Manage Inventories

Businesses continue to cut back as the economy continues to worsen - seemingly every day. Cutting costs in a reasonable and smart manner is required; however, cost cutting alone rarely achieves success. As one of my mentors used to say, the best problem to have is a cost problem [...]

4 Keys to VMI Success

The keys to vendor managed inventory (VMI) success. Before talking about the keys to achieving VMI (vendor managed inventory) success, the question is: what is VMI? VMI is a process where the supplier places purchase orders for their customers to agreed-upon metrics. Why VMI? I'm a supply chain and [...]

Why Start with Inventory Accuracy?

As companies set priorities for 2010 or next year's budget, it is important to understand where to start. So, why should inventory accuracy be a top priority? It's required from an accounting standpoint. Typically speaking, inventory can be a substantial number on your financial statements. What could be more [...]

2022-09-08T09:02:30+00:00April 25, 2013|Categories: Inventory Management|

Is Your Inventory System Working?

In my experience in working with clients across multiple industries, geographies and sizes, I have no doubt that effective inventory management is far from a no-brainer, yet implementing a few secrets to success can yield dramatic bottom line results. In today's new normal business environment, characterized by sluggish growth, [...]

Top 3 Causes of Poor Inventory Management

No matter why a client first calls, one of the challenges or areas of opportunity for significant gain stems back to inventory management. On the other hand, it isn't too surprising as with manufacturers and distributors, a key to operational success is effective inventory management. Beyond that, it can [...]

2022-09-06T08:15:37+00:00April 25, 2013|Categories: Inventory Management|Tags: , |

Bedrock Topic: Inventory Accuracy

Inventory accuracy is often overlooked, but it is vital to to bottom line business results. Although a bedrock topic, inventory accuracy is often overlooked in operations strategy discussions as it becomes an assumption or something that just should occur. However, I am constantly reminded of its vital importance and [...]

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