Developing Effective Policies for Stocking Products

                                      Developing Effective Policies for Stocking Products by Jon and Matt Schreibfeder The goal of effective inventory management is to “meet or exceed customers’ expectations of product availability while maximizing net profits.” This...

Dealing with a Chaotic Supply Chain – Part #4

EIM Effective Inventory Management, Inc. Dealing with a Chaotic Supply Chain – Part #4 Controlling Inventory Explosions Due to Extended Lead Times By Jon and Matt Schreibfeder Due to supply chain disruptions, a lot of organizations are experiencing drastically...

Dealing with a Chaotic Supply Chain – Part #2

Dealing with a Chaotic Supply Chain – Part #2 By Jon Schreibfeder and Matt Schreibfeder We continue to experience disruptions in the supply chain.  Material that used to be reliably available now is often hard to come by.  Last month we began our discussion of...

Key Metrics to Measure Inventory Management Success Inventory Turnover – Part 2

Key Metrics to Measure Inventory Management Success Inventory Turnover  Last month we began our discussion of key inventory metrics with the customer service level. While the customer service level is probably the most important inventory measurement, inventory...

Key Metrics to Measure Inventory Management Success – Part 1

Key Metrics to Measure Inventory Management Success  The goal of effective inventory management is to meet or exceed customer’s expectations of product availability with the amount of each item that will maximize your net profits. As they go through the daily process...

How Much You Should Buy – Part II

How Much You Should Buy – Part II Last month we began a discussion of the economic order quantity (EOQ) formula. The economic order quantity is a mathematical equation. It will always provide the replenishment quantity that provides the lowest total cost. That is, the...

Using Residual Inventory Analysis in Fine Tuning Your Safety Stock Quantities

Using Residual Inventory Analysis in Fine Tuning Your Safety Stock Quantities Over the last several months we have been discussing various ways of calculating safety stock quantities.  If safety stock quantities are too low, they will not provide adequate...