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The Inventory Mentor

Page 5

Choosing the best Inventory Management system

An all too common scenario:  Your company carries inventory to satisfy customer requirements yet no matter how much time you spend trying to calculate the perfect quantity to order: You continue to experience the frustrations... Read More

Why do I always have Excess stock?

Identifying some excess stock items may be as easy as walking around the warehouse and identifying the products that have not moved for ages. Those dusty old piles are most likely the worst form of... Read More

I have applied the 9 steps to optimal ordering. Why is my inventory still out of balance?

Will the diligent application of the 9 steps to optimal replenishment orders we discussed in a previous blog post result in perfect inventory balance, high customer service levels and minimum inventory investment levels? The quick... Read More

9 steps to optimal replenishment orders

An honest, objective analysis of stock-outs and items in excess will generally lead to the conclusion that the orders placed were not correct. Whilst there are indeed many other factors that also contribute to these... Read More

Inventory classification as easy as A-B-C

In inventory discussions we often hear the word “Classification” and that it is an essential part of the fundamentals of inventory. What is meant by “Classification” and why is it so important?  Is it simply... Read More

The major causes of stock-outs

What causes stock-outs? One common reaction to a stock-out is “the Buyer did not buy enough”. Stock-outs really hurt a business and it is important to understand the cause and not merely deal with the... Read More

Is Inventory Management as important as Inventory Control?

As a business owner, you require an inventory management system that insures the next order you place is the right quantity both for your customers and for your business. Frankly, without an inventory management system... Read More

Lagging indicators are death to sales

Most ERP systems can give you a lagging indicator of something that went wrong: You are out of stock of an item, and you cannot fulfil your sales obligations You just received a purchase order,... Read More

Do you have any idea what your fill rate is?

Most companies have some kind of anecdotal information about their fill rate. They will say something like “at least 80% of the time my customers come to buy, we can fulfil their order.” They often... Read More

Inventory risks affecting your business

As the manager or owner of a business focused on providing customers with a high level of service while targeting a specific inventory value or stock turn, you will most likely have experienced the frustrations... Read More