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 [...]
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 [...]
No matter why a client first calls, one of the challenges or areas of opportunity for significant gain stems back to inventory management. On the other hand, it isn't too surprising as with manufacturers and distributors, a key to operational success is effective inventory management. Beyond that, it can [...]
Communication is vital to project management success. Are you looking for different methods to make certain your messages is getting across? Published in "ExecutiveBrief" website, April, 2013 So much of an organization’s success is tied to project success! Can you think of any significant organization initiative or improvement that [...]
