by Jon Schreibfeder | Feb 7, 1999 | Warehousing
Most distributors realize the importance of inventory accuracy – that is, having the available quantity of an item in your computer agree with what is actually on the shelf in your warehouse. Management realizes the bad things that happen when inventory accuracy...
by Jon Schreibfeder | Feb 6, 1999 | Physical Inventory – Cycle Counting
No one who is of sound mind enjoys taking a physical inventory. In fact, many people prefer a visit to the dentist to spending a weekend counting every piece of every item in their warehouse. Even worse than a physical inventory is a physical inventory which results...
by Jon Schreibfeder | Feb 5, 1999 | Purchasing
Sometimes the cost of an item will be dependent on how much is purchased. For example, Foyt’s Racing Supplies offers the following discount schedule for the #AJ 3000 Brake Pads: Quantity Unit Cost Discount Net Unit Cost 100 10.00 5% 9.50 500 10.00 7.5%...
by Jon Schreibfeder | Feb 4, 1999 | Physical Inventory – Cycle Counting
A physical inventory is the process of manually counting all of the items in your warehouse(s). Most distributors conduct a physical inventory once a year. It is an expensive process that few employees enjoy. But, accurate balance information is necessary for both...
by Jon Schreibfeder | Feb 3, 1999 | Forecasting
A demand forecast (also referred to as a usage rate) is a prediction of the amount of each product that will be sold, transferred, used in an assembly, or otherwise consumed in the future. It’s easy to see that inaccurate forecasts can cause major problems for...
