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 [...]
Inventory management relies on fundamentals like cycle counting to catch discrepancies. But it has to be coupled with a focus on process disciplines or you’ll end up reliving the same problems every day. I've started working with one of my clients on a cycle count program, and so I'm [...]
Completing a physical inventory is a necessary part of inventory management because accuracy doesn’t just happen, it needs to be achieved. Inventory accuracy is cornerstone to success. It is a bedrock topic to improving service levels, reducing lead times, increasing margins, improving efficiencies, reducing inventory levels….and the list goes [...]
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. "In today's new normal business environment, cash is king, yet traditional methods to increase cash flow are not [...]
Published in "The ACA Group" website, March, 2011 As we are emerging from the recession, we are by no means returning to the high growth days of the past. Instead, the new normal is here to stay - slow growth for those who stay ahead of the curve, tight [...]
