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’...
