Inventory management may be a less exciting supply chain topic but it is the linchpin in a manufacturing or distribution business. No matter how many engaging conversations I have with clients, contacts and trade groups about emerging supply chain trends, the less exciting topic of inventory management often-times can [...]
You can’t expect manufacturing or distribution success without securing base fundamentals such as inventory management. I received a note recently from one of my newsletter subscribers asking if inventory management is dead. He stated that he didn’t think there was a single session on inventory management at APICS 2015 [...]
Though reducing inventory is generally advisable special situations arise when stocking inventory makes good business sense. Certainly reducing inventory on hand is typically preferred as you can accelerate your cash flow. It is one of the key focus areas of my consulting practice. I have found that reducing inventory [...]
A few best practices for reducing inventory levels without negatively impacting customer service include the following: Put the "right" people in the "right" jobs - it is amazing how much this one point contributes to success. Managing inventory levels requires a unique skill set - analysis, seeing the bigger [...]
Do these hypothetical situations sound familiar? Acme Company has a large, priority customer called Wylie Company. Acme must service Wylie flawlessly to maintain the contract, so to ensure stock is always available when Wylie needs it, Acme agrees to a guaranteed safety stock level for Wylie. And, Acme ends [...]
