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. Inventory management remains a timeless and vital topic for success. Every so often, we get away from talking about it on a consistent [...]
May 12, 2016 I presented on "Inventory Accuracy Remains Core to Success" at ASQ (American Society of Quality) Palomar tonight, and we had great questions and discussions on why inventory is important for success. In essence, it boils down to 3 C's - cost, cash and customer service. What [...]
Use a combination approach to inventory management planning to promote growth, increase profits, free up cash flow and improve operational efficiency. I've incorporated three planning method options into a presentation on inventory management best practices. I've been receiving more and more requests for this topic as executives experience the [...]
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 [...]
It’s time to plan the rest of the year to ensure a smooth ending to 2015 and interrupted service to customers.The years seem to fly by faster and faster, don’t they? As we head into Q4, it is important to think about whether you are ready for calendar year-end [...]
The ongoing planning and adjustments integral to the SIOP is like a conveyor belt carrying along current data and processes until they become history. SIOP (Sales, inventory, & operations planning) is a methodology of sorts that aligns demand with supply – and, more importantly, the various functions of the [...]
Systems transactions are often treated as an afterthought but are critical to building a stable foundation for your business. As mundane as system transactions seem, I continually find that whether or not they are deemed a priority can make the difference between a successful operation or not. The bottom [...]
Manufacturing and distributing product to meet customer demand can be like a puzzle unless you start using SIOP as a core process to run your business. SIOP (sales, inventory, & operations planning) taken to the best practice degree is often associated with integrated business planning. In some circles, they [...]
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 [...]
