by Jon Schreibfeder | Sep 30, 2019 | Analysis, Best Practices, Forecasting, Order Cycles, Purchasing, Replenishment Parameters
Managing the Frequency of Purchase Orders Over the past several months, we have been reviewing the critical components of determining when to order a product and how much to order. This month we continue our discussion with the order cycle (also known as the...
by Jon Schreibfeder | Aug 6, 2019 | Best Practices, Forecasting, Order Cycles, Purchasing, Replenishment Parameters, Replenishment Source, Stocking Decisions
Fine Tuning Safety Stock Quantities There is a simple, best practice residual inventory analysis that will help ensure that the safety stock quantity you maintain for each item is “just right”. To perform this analysis: Record for each item, the forecast...
by Jon Schreibfeder | Aug 5, 2019 | Best Practices, Consulting, Forecasting, Order Cycles, Purchasing, Replenishment Parameters, Replenishment Source, Stocking Decisions
Using Residual Inventory Analysis in Fine Tuning Your Safety Stock Quantities Over the last several months we have been discussing various ways of calculating safety stock quantities. If safety stock quantities are too low, they will not provide adequate...
by Jon Schreibfeder | Jul 10, 2019 | Analysis, Best Practices, Forecasting, Order Cycles, Purchasing, Replenishment Parameters, Stocking Decisions
Protecting Customer Service – Part 2 Last month we began a discussion of safety stock. That is, “insurance inventory” to protect against unusually high demand or delays in receiving a replenishment shipment from the supplier of an item. Though we found...
by Jon Schreibfeder | Jun 10, 2019 | Best Practices, Forecasting, Order Cycles, Replenishment Parameters, Replenishment Source, Stocking Decisions
Protecting Customer Service – Part 1 Over the last several months, we have been discussing when to order products in order to meet your customers’ expectations of product availability. We have explored various methods for calculating accurate forecasts and...
by Jon Schreibfeder | May 17, 2017 | Forecasting
Maintaining a high level of customer service is primarily dependent on when you reorder a product. For example, let’s say you sell two pieces of a product per day, and the item has a seven-day lead time. That is, it takes seven days to receive a product once it has...
