Is Inventory Management Dead?
You can’t expect manufacturing or distribution success without securing base fundamentals such as inventory management.
You can’t expect manufacturing or distribution success without securing base fundamentals such as inventory management.
As customers continue to demand shorter lead times, it becomes imperative for manufacturers and distributors to become more responsive and improve order fulfillment cycle time
Though reducing inventory is generally advisable special situations arise when stocking inventory makes good business sense.
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.
The quickest, most practical inventory solutions happen with teamwork.
Inventory accuracy is fundamental to manufacturing and distribution. A 3-tiered cycle counting system can simplify inventory management while improving accuracy.
Focus on operational cost reduction strategies to continue growing efficiently while also giving yourself pricing wiggle room.
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.
Completing a physical inventory is a necessary part of inventory management because accuracy doesn’t just happen, it needs to be achieved.
The fun of production scheduling is also the most important aspect, managing competing priorities and variables to find the best overall solution. Production scheduling has been a part of my expertise since my post-college days at Coca-Cola Enterprises. It has been a part of every job I've held (whether directly or indirectly) and a part of almost every project I've consulted on since. Thus, I have a passion for this topic.