Business managers and entrepreneurs can increase cash flow with already-existing assets through the implementation of innovative supply chain strategies, according to Lisa Anderson, founder and President of LMA Consulting Group, Inc.
Cash is king in today's business environment. Supply chain offers vast opportunity in accelerating cash flow. Put the two together, and you can be one of the few companies to leapfrog the competition in the new normal.
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Businesses continue to cut back as the economy continues to worsen - seemingly every day. Cutting costs in a reasonable and smart manner is required; however, cost cutting alone rarely achieves success. As one of my mentors used to say, the best problem to have is a cost problem [...]
Businesses should always look for ways to increase cash flow. Here are a few ideas to pursue: It's not what you make; it's what you keep: As obvious as this sounds, it is easy to get caught up in the opposite of what will increase your cash flow - [...]
Prepare, prepare, and prepare: 80% of your success is in preparation. Organize the warehouse, clearly mark areas, label exceptions, complete and review system transactions, etc. Stop / isolate movement: When you begin your physical count, stop all physical and system movements and transactions. This is a critical foundation - [...]
A few best practices for reducing inventory levels without negatively impacting customer service include the following: Put the "right" people in the "right" jobs - it is amazing how much this one point contributes to success. Managing inventory levels requires a unique skill set - analysis, seeing the bigger [...]
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 [...]
