by Jon Schreibfeder | Nov 15, 2024 | Best Practices, General
Fifteen Steps to Achieving Effective Inventory ManagementBy Jon and Matt Schreibfeder The goal of effective inventory management is to meet or exceed your customers’ expectations of product availability with the amount of each stocked item that will maximize your...
by Jon Schreibfeder | Oct 15, 2024 | Best Practices, Forecasting, Order Cycles, Stocking Decisions
Understanding How You Rank ProductsBy Matt and Jon Schreibfeder Ranking is the process of classifying your products. We just received an email from a distributor asking what percentage of their inventory dollars should be invested in “A” ranked products? They were...
by Jon Schreibfeder | Sep 15, 2024 | Best Practices, Forecasting, Replenishment Parameters, Stocking Decisions
Effectively Investing in Safety StockBy Jon and Matt Schreibfeder In a perfect world, forecasts of future customer demand for every product would be 100% accurate. Replenishment shipments of stocked products would always arrive on-time. But the world isn’t perfect....
by Jon Schreibfeder | Aug 15, 2024 | Best Practices, General
Effectively Managing ReturnsBy Matt & Jon Schreibfeder Companies with inventory are organized to sell and distribute products. Policies and procedures are designed to aid or promote this activity. As long as material flows through the warehouse “in the right...
by Jon Schreibfeder | Jul 15, 2024 | Best Practices, Forecasting, Order Cycles, Replenishment Parameters, Stocking Decisions
Thresholds and CeilingsBy Matt and Jon Schreibfeder Most ERP and forecasting/replenishment systems calculate replenishment parameters for every stocked item in each warehouse, store or other stocking location. That is, they suggest when to reorder products and how...
by Jon Schreibfeder | Jun 15, 2024 | Best Practices, Replenishment Parameters, Stocking Decisions, Warehousing
What is a Stocked Item?By Jon and Matt Schreibfeder The goal of effective inventory management is “to meet or exceed your customers’ expectations of product availability with the amount of each item that will maximize net profits”. We refer to the assortment of...
by Jon Schreibfeder | May 15, 2024 | Best Practices, Forecasting, Order Cycles, Replenishment Parameters
How Much of a New Product Do You Buy?By Jon and Matt Schreibfeder Last month we introduced a new product questionnaire to help you effectively control the process ofadding items to your stock list. This month we will explain how to effectively decide the actual...
by Jon Schreibfeder | Mar 15, 2024 | Best Practices, Order Cycles, Physical Inventory – Cycle Counting, Replenishment Parameters, Stocking Decisions
Don’t Round Your Replenishment ParametersBy Jon and Matt Schreibfeder We were reviewing replenishment parameters for several inventory items with a client this week. We ran across an item where a buyer had established a minimum stock level of 10 pieces and a maximum...
by Jon Schreibfeder | Feb 15, 2024 | Best Practices, Physical Inventory – Cycle Counting, Purchasing, Stocking Decisions, Warehousing
Inventory Accuracy is Critical to Your SuccessBy Jon and Matt Schreibfeder We are working with a new client whose management is frustrated. The quantities of products on the shelf in their warehouse do not agree with the on-hand quantities in their computer system. As...
by Jon Schreibfeder | Jan 15, 2024 | Best Practices, Forecasting, Stocking Decisions
How Much of a New Product Do You Buy?By Jon and Matt Schreibfeder Last month we introduced a new product questionnaire to help you effectively control the process ofadding items to your stock list. This month we will explain how to effectively decide the actual...
by Jon Schreibfeder | Dec 15, 2023 | Best Practices, Forecasting, Technology
Applying “Collaborative Information” to Your Forecast By Jon & Matt Schreibfeder Most demand planning systems base their forecasts of future sales on past usage history. This is known as “time series forecasting”. The idea is that what you sold in the past is a...
by Jon Schreibfeder | Nov 15, 2023 | Analysis, Best Practices, Replenishment Parameters, Stocking Decisions
Don’t Let Your Inventory Become a “Blob” By Jon and Matt Schreibfeder Many organizations ask for our help because their inventory is out of control. Like the title character inthe 1950’s science fiction movie “The Blob”, material in their warehouse increases at...
by Jon Schreibfeder | Oct 15, 2023 | Best Practices, Forecasting, Purchasing, Warehousing
Planned Excess: How to Manage ItBy Jon and Matt Schreibfeder Last month, we discussed the advantages of utilizing the economic order quantity (EOQ) when determining how much of a product to buy from a vendor. Properly used, the EOQ will minimize your total cost of...
by Jon Schreibfeder | Sep 15, 2023 | Best Practices, Forecasting, Order Cycles, Purchasing, Replenishment Parameters, Stocking Decisions, Uncategorized
Optimizing Forced Inventory Reduction – Part #3By Jon and Matt Schreibfeder Over the last several months we have been discussing how to prepare for a downturn in business.Recent reports in the financial press predict a possible upcoming recession. It is imperative...
by Jon Schreibfeder | Aug 15, 2023 | Best Practices, Forecasting, Order Cycles, Purchasing, Replenishment Parameters
Minimizing the Negative Effects of Forced Inventory Reduction – Part #2By Jon and Matt Schreibfeder The time to issue a replenishment order when you have enough inventory left in stock to satisfy customer demand during the lead time. If you forecast that you will sell...
by Jon Schreibfeder | Jul 15, 2023 | Best Practices, Forecasting, Order Cycles, Purchasing, Stocking Decisions
Minimizing the Negative Effects of a Forced Inventory ReductionBy Jon and Matt Schreibfeder When there is a downturn in sales, or your organization faces unexpected expenses, managementoften dictates a reduction in inventory. The challenge for the operations and...
by Jon Schreibfeder | Jun 15, 2023 | Best Practices, Order Cycles, Physical Inventory – Cycle Counting, Replenishment Parameters, Stocking Decisions
When are You Really Out of Stock? By Matt and Jon Schreibfeder A frustrated distributor contacted us last week. Salespeople were receiving complaints from customers that a lot of products they needed were out of stock. Yet the distributor’s computer software showed...
by Jon Schreibfeder | Apr 15, 2023 | Best Practices, Order Cycles, Physical Inventory – Cycle Counting, Stocking Decisions
Properly Setting Minimum and Maximum Stock Quantities (Part 2)By Jon and Matt Schreibfeder Note for our Readers using Epicor ERP Systems – Jon and Matt will be speaking at both the Epicor Insights Convention in Las Vegas and the Prophet 21 User Group Connect...
by Jon Schreibfeder | Mar 15, 2023 | Best Practices, Order Cycles, Physical Inventory – Cycle Counting, Stocking Decisions
Set Minimum and Maximum Stock Quantities Properly (Part 1)By Matt and Jon Schreibfeder Last week a client asked a question concerning an item where a buyer had established a minimum stocklevel of 10 pieces and a maximum stock level of sixty pieces. The item is...
by Jon Schreibfeder | Dec 15, 2022 | Best Practices, Replenishment Parameters, Stocking Decisions
Why Is My Inventory Still Bloated? Part IIBy Jon and Matt Schreibfeder Occasionally, even after we set optimum replenishment parameters, a client may still find themselveswith a bloated inventory. The second common reason why this frustrating situation occurs is...
by Jon Schreibfeder | Nov 15, 2022 | Best Practices, Replenishment Parameters, Stocking Decisions
Why Is My Inventory Still Bloated? Part IBy Jon and Matt Schreibfeder We work with many clients setting the replenishment parameters for stocked items to achieve the goal of effective inventory management. That is, to meet or exceed their customers’ expectations of...
by Jon Schreibfeder | Oct 15, 2022 | Best Practices, Forecasting, Order Cycles, Physical Inventory – Cycle Counting, Purchasing
When Your Target Order Requirement Is Not Practical?By Jon and Matt Schreibfeder One of the things we look forward to is answering great questions from our readers. In the next several issues of our newsletter, we will discuss some of the more interesting subjects...
by Jon Schreibfeder | Sep 15, 2022 | Best Practices, Physical Inventory – Cycle Counting, Purchasing, Stocking Decisions
Is Your Company Making Money? – Part 2By Jon and Matt Schreibfeder For the past several months, we have been discussing profitability. Our goal is to ensure that every product you stock is either profitable or leads to other profitable sales. In the first...
by Jon Schreibfeder | Aug 10, 2022 | Analysis, Best Practices, Consulting, General, Replenishment Parameters, Stocking Decisions
Is Your Company Making Money? By Jon and Matt Schreibfeder Last month we discussed a profitability metric known as the “adjusted margin”. It is calculated with the formula: [Annual Gross Profit $ – (Average Inventory Investment * Annual Inventory “K...
by Jon Schreibfeder | Jul 6, 2022 | Analysis, Best Practices, Forecasting, Purchasing, Replenishment Parameters, Stocking Decisions
Measuring Profitability By Matt and Jon Schreibfeder Besides customer service (i.e, having those quantities of stocked items available, when customers want them), EIM considers profitability to be the most important metric available to our clients. If your...
by Jon Schreibfeder | Jun 6, 2022 | Analysis, Best Practices, Consulting, Replenishment Parameters, Stocking Decisions, Technology
Meaningful Product Classification By Jon and Matt Schreibfeder Last month we discussed ranking products. That is, the process of classifying products so that you can identify those items that contribute most to your success. To fully evaluate inventory...
by Jon Schreibfeder | May 10, 2022 | Analysis, Best Practices, Consulting, Forecasting, General, Replenishment Parameters, Stocking Decisions
A Problem with Ranking Products by Jon and Matt Schreibfeder Most organizations want to focus their attention on the products in their inventory that contribute most to their success. One way to do this is by ranking products. Ranking is the process of classifying...
by Jon Schreibfeder | Apr 7, 2022 | Analysis, Best Practices, Consulting, Forecasting, Purchasing, Replenishment Parameters, Replenishment Source, Stocking Decisions, Warehousing
Developing Stocking Rules – Part 2 By Jon Schreibfeder Last month we began a discussion of determining what products you should keep in stock. As we said in that article, when you decide to stock a product, you are making a commitment. A commitment to maintain a...
by Jon Schreibfeder | Mar 8, 2022 | Analysis, Best Practices, Consulting, Forecasting, Order Cycles, Replenishment Parameters, Stocking Decisions, Warehousing
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...
by Jon Schreibfeder | Feb 9, 2022 | Analysis, Best Practices, Forecasting, General, Order Cycles, Replenishment Parameters, Stocking Decisions
Analyzing Stockouts to Improve Customer Service by Jon Schreibfeder A “stockout” occurs when you don’t have enough inventory to fulfill a request from a customer. This customer may be “outside” your business (i.e., you are selling them products) or within your...
by Jon Schreibfeder | Jan 5, 2022 | Analysis, Best Practices, Forecasting, Replenishment Parameters, Stocking Decisions, Warehousing
2022: New Year’s Resolutions We hope everyone had a safe and enjoyable holiday season. While you are considering New Year’s resolutions, why not add some which will lead your organization to achieve the goal of effective inventory management. That is, “to meet or...
by Jon Schreibfeder | Dec 7, 2021 | Analysis, Best Practices, Consulting, Forecasting, General, Order Cycles, Purchasing, Replenishment Parameters, Replenishment Source, Stocking Decisions, Warehousing
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...
by Jon Schreibfeder | Nov 3, 2021 | Analysis, Best Practices, Forecasting, Order Cycles, Replenishment Parameters, Replenishment Source, Stocking Decisions, Warehousing
EIM Effective Inventory Management, Inc. Dealing with a Chaotic Supply Chain – Part #3 by Jon and Matt Schreibfeder Recent articles in business publications report that supply chain disruptions and material shortages will continue for the foreseeable future. You may...
by Jon Schreibfeder | Oct 7, 2021 | Analysis, Best Practices, Forecasting, Order Cycles, Purchasing, Replenishment Parameters, Replenishment Source, Stocking Decisions, Vendor Managed Inventory
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...
by Jon Schreibfeder | Sep 18, 2021 | Analysis, Best Practices, Forecasting, Order Cycles, Purchasing, Replenishment Parameters, Stocking Decisions, Vendor Managed Inventory
Dealing with a Chaotic Supply Chain – Part #1 By Jon and Matt Schreibfeder Most organizations are currently experiencing unprecedented challenges in inventory planning: Vendors frequently cannot consistently deliver what they previously supplied in a timely...
by Jon Schreibfeder | Aug 5, 2021 | Analysis, Best Practices, Stocking Decisions, Warehousing
Liquidating Unwanted Inventory By Jon and Matt Schreibfeder Most companies’ warehouses are filled with two things: “stock” and “stuff”. Stock is what you need to achieve the goal of effective inventory management. That is, to meet or exceed customers’ expectations...
by Jon Schreibfeder | Jul 10, 2021 | Analysis, Best Practices, Forecasting, General, Order Cycles, Purchasing, Replenishment Parameters, Stocking Decisions
Buying Before a Vendor Price Increase By Jon and Matt Schreibfeder Over the past several months, we have been discussing replenishment related challenges in these times of erratic demand of products and disruptions in the supply chain. The disruption has caused our...
by Jon Schreibfeder | Jun 10, 2021 | Best Practices, Forecasting, Order Cycles
Avoid Over Buying During Demand Bubbles By Jon Schreibfeder Events will often spur spikes in demand for certain products. To avoid stockouts and disappointing customers, there is a tendency among buyers to purchase a large quantity of these items whenever they are...
by Jon Schreibfeder | Jun 10, 2021 | Best Practices, Purchasing
Avoid Over Buying in Uncertain Times By Jon Schreibfeder Events will often spur spikes in demand for certain products. To avoid stockouts and disappointing customers, there is a tendency among buyers to purchase a large quantity of these items whenever they are...
by Jon Schreibfeder | Jun 1, 2021 | Best Practices, Forecasting, General, Order Cycles
Shortfall Replenishment By Jon Schreibfeder We are finding that many of our distributors, manufacturers, and retailers are suddenly dealing with longer and unpredictable lead times for many products. Unfortunately, the majority of computer systems are not equipped to...
by Jon Schreibfeder | Apr 5, 2021 | Best Practices, Replenishment Parameters, Stocking Decisions, Warehousing
Effective Warehouse Operations – Best Practices in Putting Away Material Last month, we discussed best practices in receiving material. This month our discussion of efficient warehousing practices moves on to putting away stock after it is properly received. ...
by Jon Schreibfeder | Mar 3, 2021 | Best Practices, Replenishment Parameters, Stocking Decisions, Vendor Managed Inventory
Effective Warehouse Operations – Best Practices in Receiving This month, we continue of discussion of warehousing operations by looking at best practices in receiving material. Here are some policies and procedures we suggest you implement to ensure that your...
by Jon Schreibfeder | Jan 29, 2021 | Best Practices, General, Warehousing
Effective Rules for Warehouse Operations Over the past 41 years I have observed operations in many warehouses. Some of these facilities were well organized and efficiently received, stored, and shipped products. Others had substantial material handling challenges. ...
by Jon Schreibfeder | Jan 9, 2021 | Best Practices, Stocking Decisions, Warehousing
Organize Your Warehouse The first step in organizing your warehouse is to assign bin locations. A bin location is a designated storage space for an item. This may be space on a shelf, a pallet location, a floor storage area, or some other place where products are...
by Jon Schreibfeder | Dec 15, 2020 | Best Practices, Forecasting, Order Cycles, Physical Inventory – Cycle Counting, Replenishment Parameters, Stocking Decisions
A Quick Test for Inventory Accuracy By Jon Schreibfeder Recently our articles have concentrated on inventory management. That is the planning process. Making sure you have the right quantity, of the right item, in the right location, at the right time. Successful...
by Jon Schreibfeder | Nov 15, 2020 | Analysis, Best Practices, Forecasting, Stocking Decisions
Managing By Exception – Part #4 Prioritize Items in your Unusual Usage Report by Jon Schreibfeder A few months back, we discussed the importance of reviewing unusual usage at the end of each month or week. That is, examining situations where your forecast of future...
by Jon Schreibfeder | Oct 1, 2020 | Analysis, Best Practices, Forecasting, Order Cycles, Replenishment Parameters, Stocking Decisions
Managing by Exception – Part #3 Monitoring Stockouts When you incur a stockout of an inventoried item, you run the risk of disappointing a customer. Unfortunately, it is inevitable that you will not be able to fulfill every request for any quantity of...
by Jon Schreibfeder | Sep 15, 2020 | Analysis, Best Practices, Forecasting, Purchasing, Replenishment Parameters, Stocking Decisions
Managing Inventory by Exception – Part #2 Interpreting Unusual Usage In the last newsletter, we discussed the importance of evaluating possible unusual usage in accurately forecasting future demand of products. In the next several newsletters, we will look at some...
by Jon Schreibfeder | Sep 1, 2020 | Analysis, Best Practices, Forecasting, Order Cycles, Purchasing, Replenishment Parameters, Stocking Decisions
Managing by Exception – Part One By Jon Schreibfeder We’ll begin by examining unusual sales or usage. A forecast is a prediction of the quantity of a product that will be sold or used in an upcoming week or month. Accurate forecasts are critical to achieving...
by Jon Schreibfeder | Aug 18, 2020 | Analysis, Best Practices, Forecasting, Order Cycles, Purchasing, Replenishment Parameters, Stocking Decisions, Warehousing
COVID-19 Newsletter #10 Assess Viability of New Products Before They Enter Your Warehouse By Jon Schreibfeder New products are continually being introduced to the marketplace. Unfortunately, many of these new items are “D.O.A.” or dead on arrival. That is, you do...
by Jon Schreibfeder | Aug 7, 2020 | Analysis, Best Practices, Forecasting, Order Cycles, Physical Inventory – Cycle Counting, Stocking Decisions, Warehousing
Inventory Management with COVID-19, Part 9 Develop Your Approved Stock List Remember that the goal of effective inventory management is “to meet or exceed customers’ expectations of product availability with the amount of each item that will either maximize your...
by Jon Schreibfeder | Jul 15, 2020 | Analysis, Best Practices, Forecasting, Physical Inventory – Cycle Counting, Replenishment Parameters, Stocking Decisions, Vendor Managed Inventory
Inventory Management with COVID-19, Part 8 Component and Raw Materials Needs Many organizations assemble or manufacture finished good products. Historically, it has been common practice to record the quantity of the component parts and raw materials used in creating...
by Jon Schreibfeder | Jul 10, 2020 | Best Practices, Forecasting, Order Cycles, Physical Inventory – Cycle Counting, Replenishment Parameters, Replenishment Source, Stocking Decisions
Inventory Management with COVID-19 Part 7 The Economic Order Quantity (EOQ) In the last two newsletters we have examined your costs of carrying inventory and replenishing inventory. You must know both of these costs to help determine the “best buy quantity” of an...
by Jon Schreibfeder | Jun 16, 2020 | Analysis, Best Practices, Order Cycles, Purchasing, Replenishment Parameters, Replenishment Source, Stocking Decisions
Inventory Management with the COVID-19 Part 6 In the last issue, we looked at balancing the savings you receive by buying a larger quantity of a product at a lower cost per piece with the cost of carrying that extra inventory in your warehouse for a longer period of...
by Jon Schreibfeder | Jun 1, 2020 | Analysis, Best Practices, Forecasting, Order Cycles, Purchasing, Replenishment Parameters, Stocking Decisions
Inventory Management with the COVID-19 Part 5 In this issue, we begin to explore how to best manage large vendor purchase requirements. Vendor requirements may refer to an individual item (e.g., the supplier sells an item in cases of 48 pieces) or an entire order...
by Jon Schreibfeder | May 15, 2020 | Best Practices, Consulting, Forecasting, Order Cycles, Replenishment Parameters, Replenishment Source, Stocking Decisions
Inventory Management with the COVID-19 Part 4 Lead Times In the last several newsletters, we have been discussing ways to best manage your inventory while dealing with the effects of the COVID-19 virus. Topics have included adjusting forecasts and modifying safety...
by Jon Schreibfeder | Apr 30, 2020 | Analysis, Best Practices, Forecasting, Order Cycles, Uncategorized
Inventory Management with COVID-19 – Part 3 What we have learned so far Over the past six weeks, we have been working with many distributors, manufacturers and retailers to adjust the future demand of products because of the effects of the COVID-19 virus. It is not...
by Jon Schreibfeder | Apr 15, 2020 | Analysis, Best Practices, Consulting, Forecasting
Inventory Management with the COVID-19 Pandemic – Part 2 Managing your Safety Stock Many of our clients are reporting that their overall revenues are far lower than they were before the pandemic while their expenses remain the same or have increased. They need to...
by Jon Schreibfeder | Apr 1, 2020 | Analysis, Best Practices, Forecasting
Inventory Management during the COVID-19 Pandemic, Part I Adjusting Future Forecasts of Products The world has changed since we sent out our last newsletter in early March. We have been answering many questions concerning how to best manage your inventory under...
by Jon Schreibfeder | Mar 5, 2020 | Analysis, Best Practices, Consulting, Forecasting, General, Order Cycles, Purchasing
Key Metrics to Measure Inventory Management Success Turn Earn Index and GMROI If a company enjoys high gross margins, it can be successful with lower inventory turns. Many companies that sell goods being liquidated justify keeping items in their warehouse for years,...
by Jon Schreibfeder | Feb 1, 2020 | Analysis, Best Practices, Forecasting, Order Cycles, Purchasing, Replenishment Parameters, Stocking Decisions, Vendor Managed Inventory, Warehousing
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...
by Jon Schreibfeder | Jan 1, 2020 | Best Practices, Forecasting, Order Cycles, Purchasing, Replenishment Parameters, Replenishment Source, Stocking Decisions, Uncategorized, Vendor Managed Inventory, Warehousing
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...
by Jon Schreibfeder | Dec 1, 2019 | Analysis, Best Practices, Forecasting, Order Cycles, Physical Inventory – Cycle Counting, Purchasing, Replenishment Parameters, Replenishment Source, Stocking Decisions, Warehousing
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...
by Jon Schreibfeder | Nov 1, 2019 | Analysis, Best Practices, Forecasting, Order Cycles, Purchasing, Replenishment Parameters, Replenishment Source, Stocking Decisions, Warehousing
How Much Should You Buy? Part 1 By Jon Schreibfeder Over the past several months we have been reviewing the basics of setting replenishment parameters to ensure that you achieve the goal of effective inventory management: meeting or exceeding your customers’...
by Jon Schreibfeder | Oct 8, 2019 | Analysis, Best Practices, Forecasting, Order Cycles, Purchasing, Replenishment Parameters, Stocking Decisions
Unrealistically Short Order Cycles Lead to Anarchy By Jon Schreibfeder The order cycle (also commonly known as a review cycle) is the length of time (usually expressed in days) between when you can issue target replenishment orders with the primary supplier of a...
by Jon Schreibfeder | Sep 30, 2019 | Analysis, Best Practices, Forecasting, Order Cycles, Purchasing, Replenishment Parameters
Managing the Frequency of Purchase Orders Over the past several months, we have been reviewing the critical components of determining when to order a product and how much to order. This month we continue our discussion with the order cycle (also known as the...
by Jon Schreibfeder | Aug 6, 2019 | Best Practices, Forecasting, Order Cycles, Purchasing, Replenishment Parameters, Replenishment Source, Stocking Decisions
Fine Tuning Safety Stock Quantities There is a simple, best practice residual inventory analysis that will help ensure that the safety stock quantity you maintain for each item is “just right”. To perform this analysis: Record for each item, the forecast...
by Jon Schreibfeder | Aug 5, 2019 | Best Practices, Consulting, Forecasting, Order Cycles, Purchasing, Replenishment Parameters, Replenishment Source, Stocking Decisions
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...
by Jon Schreibfeder | Jul 10, 2019 | Analysis, Best Practices, Forecasting, Order Cycles, Purchasing, Replenishment Parameters, Stocking Decisions
Protecting Customer Service – Part 2 Last month we began a discussion of safety stock. That is, “insurance inventory” to protect against unusually high demand or delays in receiving a replenishment shipment from the supplier of an item. Though we found...
by Jon Schreibfeder | Jun 10, 2019 | Best Practices, Forecasting, Order Cycles, Replenishment Parameters, Replenishment Source, Stocking Decisions
Protecting Customer Service – Part 1 Over the last several months, we have been discussing when to order products in order to meet your customers’ expectations of product availability. We have explored various methods for calculating accurate forecasts and...
