by Jon Schreibfeder | May 2, 2002 | Forecasting
A customer requests a product and it’s not in stock. They can’t wait for you to obtain the item so they purchase it elsewhere. You’ve lost a sale. That means you have lost the opportunity to earn a profit, disappointed the customer, and probably put...
by Jon Schreibfeder | Mar 1, 2002 | Physical Inventory – Cycle Counting
In previous articles we’ve described cycle counting, the process of counting some stock items or warehouse locations every day, as a valuable tool in ensuring the accuracy of your perpetual inventory. We’ve seen numerous cases in which organizations, after...
by Jon Schreibfeder | Jan 2, 2002 | Replenishment Parameters
It is no secret that an accurate forecast of the future demand of a product is crucial in achieving the four “rights” of effective inventory management: that is, getting the right quantity of the right item to the right location at the right time. As...
by Jon Schreibfeder | Nov 1, 2001 | Forecasting
I received a call from one of my customers this afternoon. “Jon, something is wrong with my demand forecast. We usually have a sharp drop in usage in January because several customers have shutdowns. But the forecast is recommending we stock almost twice as much...
by Jon Schreibfeder | Aug 10, 2001 | Replenishment Parameters
I visited a large manufacturer last week to review their inventory management polices and procedures. I was impressed with their knowledge and the systems they had in place. As I spoke with various department managers, one question was continually asked: “How...
