by Jon Schreibfeder | Oct 1, 2011 | Replenishment Parameters
For many organizations, 50% or more of their stocked inventory items have sporadic usage – that is, they are not sold or used on a regular basis. In previous articles, we have discussed how typical demand forecast techniques that predict the quantity of the product...
by Jon Schreibfeder | Jan 10, 2011 | Replenishment Parameters
A few months ago, in an article entitled “The Mysterious Cost of Carrying Inventory,” we published a questionnaire that you can fill out, return to us, and have us calculate your specific company’s inventory carrying cost percentage – that is, what...
by Jon Schreibfeder | Jan 10, 2011 | Replenishment Parameters
The carrying cost of inventory is the cost of maintaining your average inventory investment of inventory in your warehouse, storeroom, stockroom, or other location where you stock raw materials or finished goods. What costs do you incur in carrying inventory? Cost of...
by Jon Schreibfeder | Jul 1, 2002 | Replenishment Parameters
When the stock level of an item falls below the minimum quantity, it is time to reorder the product, right? But we’ve found some instances where it is difficult to maintain accurate stock levels because it is impractical to record each individual material...
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 | 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...
