Inflation is rising faster than at any time in recent memory. Businesses must deal with rapid cost increases by managing cash flow efficiently and communicating effectively with customers and suppliers. The benefits of inventory reduction must be balanced against the need to maintain critical stock for top customers.
"Proactively managing cash flow is critical right now," says Lisa Anderson, president of LMA Consulting Group, Claremont, Calif. This can be done by running periodic forecasts.
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.
After months of shortages and supply chain disruptions, many retailers suddenly found themselves with excess inventory. Lisa Anderson discusses how shifting demand and the bullwhip effect contributed to the dramatic swing from empty shelves to overflowing warehouses.
Innovation is more than solving problems—it is about creating new levels of performance. In this interview, Lisa Anderson discusses how manufacturers can leverage innovation, collaboration, and continuous improvement to drive growth and strengthen competitive advantage.
Accurate systems transactions improve inventory accuracy, customer service, and operational efficiency in business
Warehousing is often overlooked for its simplicity, but it’s one of the strongest links in your supply chain.
When connecting people and process, think about using customer collaborative programs to link strategy with execution.
