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...
