Inventory Accuracy Pitfalls
The most common inventory accuracy pitfalls stem from minor problems but will snowball into bigger headaches if the root causes aren’t caught and resolved.
The most common inventory accuracy pitfalls stem from minor problems but will snowball into bigger headaches if the root causes aren’t caught and resolved.
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.
Most likely you are doing a task because you want to serve a customer as almost everything we do at work can be traced back to serving customers; no matter the task.
Empowering people to make the right decisions in your organization can be the key to getting the right results in a variety of business cases including inventory management.
Inventory can often be overlooked in its importance because it is such a bedrock topic
Changes in supply chain strategy and operations cannot be overlooked and we need to stay aware and forward-looking to remain competitive.
"Amazon is changing the business landscape" explains Lisa Anderson, president of LMA Consulting Group, Inc., which consults large corporations on supply chain management. "Unlimited variety is assumed, same-day service is the norm, and 24/7 accessibility with easy returns and exchanges is expected".
Since supply chain has broad appeal, we should be touting the critical importance of the supply chain in our daily conversations.
I cannot tell you how many disagreements I've seen over the years on the optimal planning method.
The supply chain has a dramatic impact on several areas of the company – the ability to grow and “keep customers promises”, profitability, cash flow, and customer service.