Tag Archive: inventory accuracy

Inventory Accuracy Pitfalls

By
Why do so many companies run into issues with inventory accuracy?  After working on hundreds of projects with companies spanning many industries such as aerospace, building products and food, I’ve found these pitfalls are the most common: Transaction timing issues – although they might perform system transactions, they are not completed on a timely basis. Thus, the system gets all mixed up – with the best case scenario. Transaction quantity issues – who hasn’t had fat fingers and keyed in 10000 instead of 1000? I’d be hard pressed to think of a client who hasn’t experienced that issue. In addition,…
View Article




I Can’t Find What I Need in My Warehouse!

By
How many times have we heard this? Or, perhaps your inventory resource will keep looking until he/she finds it; however, it took them 3 times as long to pick product to ship or materials to supply the line? Perhaps the line shuts down…..not good! Unfortunately, in my experience with manufacturing and distribution companies over the last 25+ years, it happens every day. Logistics managers are constantly struggling to keep their inventory intact. The problem is that inventory accuracy is dependent on several factors spread across multiple functions: Transaction timing – it is not good enough to eventually (perhaps the end…
View Article




Why We Should Pay Attention to Inventory

By
I presented on “Inventory Accuracy Remains Core to Success” at ASQ (American Society of Quality) Palomar last night, and we had great questions and discussions on why inventory is important for success. In essence, it boils down to 3 C’s — cost, cash and customer service. What could be more important for a business? Unfortunately, inventory can often be overlooked in its importance because it is such a bedrock topic — and left to the people who focus on it. However, any executive who wants to grow the business, provide exceptional service to customers and accelerate cash flow better pay attention. I’m often-times…
View Article




Inventory Management Remains Core to Success

By
No matter how many engaging conversations I have with clients, contacts and trade groups about emerging supply chain trends, the less exciting topic of inventory management oftentimes can deliver a higher value than the latest and greatest most-talked about trend. As the Programs chair of APICS Ventura chapter said when requesting this topic for a recent speech, inventory management is core to success and remains a timeless topic.   This prompted me to think about what I see across all types of clients: Whether a $5 million fast-growing manufacturer in the building products industry, an $80 million dollar food processing…
View Article