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...
