Tag Archive: inventory management

What is Walmart Doing?

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I sat on a panel of experts for Mobility 21’s annual conference titled “Speed to Delivery: Good’s Movement’s High-Tech Future“. It was a fascinating meeting and panel discussion due to the amazing amount of technology being discussed to address the future of transportation. One of the panelists was the Senior Director of Sustainability for Walmart. Walmart has come up in several circles lately. One of our clients supports Walmart’s stores, and so we learned quite a lot about their fulfillment processes, demand planning practices and, of course, their new OTIF (on-time-in-full) metrics. We also discussed Walmart service with a 3PL partner, and, of…
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Which Business Best Practices Do Top Notch Trusted Advisors See?

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In my ProVisors ODAM (Ontario-hosted Distributors and Manufacturers group – don’t you love the play on words?) meeting this month, we discussed business best practices we’ve seen with our manufacturing and distribution clients. It was a fascinating discussion as our group is diverse and consists of the most respected attorneys, CPAs, commercial insurance, business financial advisers, and consultants from around Southern California. Yet, we agreed rather quickly on core best practices. Thanks to Ron Penland for making the meetings engaging and trend-worthy. Here are some of the top themes surrounding best practices: Start by understanding financial statements and cost –…
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Wisconsin Provides HUGE Tax Incentives to Lure Apple Manufacturer

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The state of Wisconsin granted $3 billion in tax incentives to Foxconn to entice them to manufacture in the midwestern state. This is not only the highest government subsidy ever offered for a foreign company to locate to the U.S., but it also specifically entices production that goes into the Apple iPhone. It certainly proves that blanket statements about innovation in government are just as inaccurate as all others! Wisconsin shows that thinking outside the box can be achieved even in government. Clearly, it also shows that manufacturing is relevant in today’s environment. Have you thought about whether you are…
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A Tour of Skechers and Jaw Dropping Savings (and Innovations)

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A Tour of Skechers & Jaw Dropping Savings Recently, I went on a tour of Skechers with my ProVisors group.  We had heard so much about the building and related innovations from the developer, Iddo Benzeevi, previously that we were really excited to see it in action.  There are truly jaw dropping savings – $25 million a year reduction in operating costs – from the total picture.  Who can argue with that?  Certainly not the environmentally-conscious people as it is also the largest LEED Gold Certified building of its kind to be awarded with this distinction by the U.S. Green…
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Walmart Raising the Supply Chain Metrics Bar

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One of my clients forwarded this Business Insider article about Walmart’s supply chain metrics. Walmart is not only requiring an increase in OTIF (on-time-in-full) delivery performance but it also will charge penalties for suppliers that don’t live up to the metric! Creating an efficient supply chain is critical for Walmart, so they are taking this proactive stance. This is prevalent throughout our manufacturing and distribution clients – regardless of industry. For example, in aerospace, there are very similar supply chain metrics and penalties. If we want to grow our businesses, we must develop excellence throughout our supply chain. Just think, there…
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Why Customer Service Trumps All

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Although we work on many topics impacting manufacturers and distributors, we have found that the most popular — and vital — is customer service. Prior to the recession, most companies called for our inventory management expertise and how to understand and manage costs (and therefore strategically price); however, since the recession, almost everyone that calls has some element of the customer in their conversation. As our passion surrounds customer service which must start with your customers (your employees), we love this development. From a financial point-of-view, the customer has a profound impact on business performance. Clients call for every one…
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Solid Inventory Management Practices Remain Timeless

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Inventory management remains a timeless and vital topic for success. Every so often, we get away from talking about it on a consistent basis because it seems somewhat humdrum. But it isn’t! Earlier this year, I was asked to speak to a group of manufacturing leaders about it because of the ongoing importance. Then, I was asked to speak to a group of quality experts on the topic as it not only is timeless but it also crosses boundaries. Next, a peer group of manufacturing leaders asked me to speak on the topic. I didn’t have to be a rocket…
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Which Inventory Management Planning Method Is Best?

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I’ve incorporated three planning method options into a presentation on inventory management best practices. I’ve been receiving more and more requests for this topic as executives experience the impact poor inventory management can have on an organization — it can stunt growth, weaken profits, tie up cash unnecessarily and negatively impact operational efficiency. I run across conflicts frequently among these options. Unfortunately, the method is often dictated. Resources are not valued. And results struggle. On the other hand, my best clients view these as complementary options to be used at the “right” time in the “right” situation for the “right”…
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Inventory Management Remains Core to Success

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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…
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Executive Summaries on Enterprise Apps© Number 5: ERP Can Improve Customer Service

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Modern Enterprise Resource Planning (ERP) systems are designed to help improve customer service. Customer service is a lot more than how you treat your customers at the point of sale. Customer service is also delivering a quality product, at a fair price and delivering it when it is promised. Those are the areas where ERP shines.
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