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 [...]
With all the competing demands within a supply chain organization, a $1 Million Dollar Planner is the person that can see the bigger picture and communicate just how the company’s objectives can be achieved.
The key to effective cycle counting is to not get bogged down in resolving every dollar, but rather focus on the significant discrepancies. The main goal of cycle counting is to cycle through your inventory to ensure inventory accuracy on a consistent basis. (In contrast, a physical inventory is [...]
Manufacturers can no longer count on customer loyalty, but they can expect customers continued demands for quality products and service. Quality has seemingly fallen out of favor in terms of the number of articles and attention in industry circles; however, it remains a bedrock principle for customer service and [...]
In my experience in working with clients across multiple industries, geographies and sizes, I have no doubt that effective inventory management is far from a no-brainer, yet implementing a few secrets to success can yield dramatic bottom line results.
Inventory accuracy is often overlooked, but it is vital to to bottom line business results. Although a bedrock topic, inventory accuracy is often overlooked in operations strategy discussions as it becomes an assumption or something that just should occur. However, I am constantly reminded of its vital importance and [...]
You wouldn’t think so from the way companies are hoarding cash; however, in general, they have a stockpile of cash and remain leery to spend it. Last year, there was a 2% decrease in days working capital (DWC), according to CFO Magazine.
Published in Industry Week on May 11, 2007 It seems very common that people get on the bandwagon of some of these philosophies like JIT, and they give up as opposed to understanding that it's not something trendy to do," says Lisa Anderson, president and founder of business processes [...]
