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Technology Strategies for Inventory Management – Convert Inventory from a Cost to a Competitive Advantage
Inventory has been and continues to be the lifeblood of supply chains. Properly managed, it drives revenue and efficiency for companies. But as the nature of supply chains changes, so must the policies used to manage inventory.
Source: Aberdeen Group.
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The Challenge of Multi-Site Warehouse and Order Management – Meeting Customer Requirements while Lowering Logistics Cos
As supply chains become increasingly more global in nature the ability to effectively manage a network of distribution centers is becoming a required core competency. Unfortunately, a surprisingly high number of companies that currently practice multi-site distribution are experiencing real challenges in this area impacting profitability.
Source: Aberdeen Group.
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Effective Replenishment Parameters
Many distributors rely on their computer software to help them decide when to replenish the inventory of stock products and how much of each product to reorder. They are relying on the system to alleviate customer service problems and improve profitability. Unfortunately we’ve found that often management and even buyers do not understand what the actual definition and purpose of each of the application’s parameters. As a result, the system is often setup incorrectly or misused and the distributor does not receive all of the possible value from this very expensive tool.
Source: Microsoft
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The First Steps to Achieving Inventory Control
We’ve worked with hundreds of distributors throughout the world. These firms have distributed nearly every type of product imaginable. Despite the variety of locations and industries, we’ve found when we start to work with these distributors, they typically have very similar inventory-related problems.
Source: Microsoft
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Improving the Accuracy of Your Forecasts
Distributors have to provide better material availability and more services with fewer profit dollars. They have to do more with less. In order to accomplish this goal the estimates of future usage of stocked items must be as accurate as possible. In this document we will explore some ideas we have found to be effective in developing accurate demand forecasts for your stock products.
Source: Microsoft
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Conducting Effective Inventory Analysis
Inventory is the largest and probably the most important asset of many distributors. More money is probably tied up in inventory than in buildings or equipment. And inventory is usually less "liquid" than accounts receivable. That is, it is harder to turn inventory back into cash to pay employees and expenses. If distributors do not have this money invested in the right amount of the right products, they cannot provide the service to customers necessary to be successful. It is crucial that every distributor develops and uses a comprehensive set of tools that allows them to closely monitor the performance of their investment in inventory.
Source: Microsoft
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Keeping Stock Balances Accurate
Many distributors spend thousands (and hundreds of thousands) of dollars implementing new computer software systems. Often these systems are purchased to help these companies gain control of what is probably their largest investment: their inventory. But sometimes these distributors find that they are no better off after the new software is implemented than they were with their old system.
Source: Microsoft
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Maintaining Stock In Branch Locations
Branch locations are expensive to operate. And to be successful, the service they provide must be equal to that provided by their organization’s home office. In this document, we will discuss policies and procedures for successfully maintaining stock inventory in branch locations.
Source: Microsoft
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