Increased margins and company growth are easier to reach when process disciplines are emphasized within an organization Who cares about process disciplines? All executives say they care but few are willing to focus the efforts on instilling process disciplines. It seems like a less important topic than creating a [...]
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 [...]
Published in Global Trade Magazine on Dec. 14th, 2015 Identifying best practices for company types and cultures is key, according to Lisa Anderson, say Lisa Anderson, President of LMA Consulting Group, Claremont, CA. "Collaboration with customers and suppliers is typically a best practice that can help reduce inventory levels," [...]
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 [...]
Inventory accuracy depends on so many moving parts. But a top-to-bottom understanding of the process combined with speedy adjustment responses would dramatically improve accuracy, thus, boosting business results. How many times have we heard this? Or, perhaps your inventory resource will keep looking until he/she finds it; however, it [...]
The quickest, most practical inventory solutions happen with teamwork. One of those frequent and frustrating problems with growth can be space. Who has heard, "I've run out of space! What should we do?". Unfortunately it is not uncommon. The problem with this situation is that there are numerous causes [...]
