When inventory accuracy fell to 85% and confidence in cost accounting declined, the company partnered with LMA Consulting Group to assess and optimize its ERP system. By improving data integrity, redesigning processes, and enhancing system utilization, inventory accuracy increased to 99.8%, profitability visibility improved, and leadership gained the insights needed to make better business decisions.
Disruptions have not stopped. China has been flying balloons over Taiwan. North Korea is threatening South Korea. Russia continues its war with Ukraine. Israel is at war with Hamas [...]
Inventory accuracy is foundational to success. Most clients aren't concerned about inventory, and they shouldn't be if they can count on what their system says.
Volatility has become the new normal in supply chains, making effective inventory management more critical than ever. From shifting customer demand and supplier disruptions to inflationary pressures and geopolitical uncertainty, manufacturers and distributors are being challenged to balance service, cost, and working capital simultaneously. Although many companies are investing [...]
As executives continue to navigate these volatile economic conditions, the focus on inventory management increases. It is especially tough to determine what to do if you don't know if sales opportunities will dramatically increase as the competition falters and consumers drive demand or if sales will tank as recession fears increase and business optimism falters.
“Inventory accuracy is cornerstone to success” says Lisa Anderson, The Manufacturing ConnectorSM and president of LMA Consulting Group, Inc., Claremont, CA. 51 Expert Tips on Inventory Control Methods Inventory control is a critical function for businesses spanning every industry. Without effective inventory control methods, the supply chain suffers, you’re not [...]
Lisa Anderson discusses the importance of inventory accuracy for manufacturers & distributors to optimize profit & customer satisfaction.
Increased margins and company growth are easier to reach when process disciplines are emphasized within an organization
The most common inventory accuracy pitfalls stem from minor problems but will snowball into bigger headaches if the root causes aren’t caught and resolved.
Are you keeping close tabs on your inventory management practices? Improving just one aspect of your inventory can lead to improved service, margins and cash flow.
