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...
by Jon Schreibfeder | Aug 1, 2001 | Replenishment Parameters
Do the buyers in your company face a mountain of replenishment decisions every day? In the past several weeks I have worked with several firms that stocked more than 16,000 unique products in each of several warehouses. Their buyers seemed overwhelmed with the task of...
by Jon Schreibfeder | Jun 1, 2001 | Replenishment Parameters
It is important to know your cost of carrying inventory. It is a critical factor in deciding what products to stock and when to reorder them, as well as the best quantity to order. Too often companies and organizations use an imprecise “rule of thumb” to...
by Jon Schreibfeder | Jul 1, 1999 | Replenishment Parameters
Theoretically, it should be easy to determine when to reorder a stocked item from a supplier. If you know that customers will order ten pieces of the product each day, and you know that it will take seven days to get the shipment from the vendor, you should reorder...
