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...
