by Jon Schreibfeder | Mar 1, 2020 | Analysis, Best Practices, Forecasting, Order Cycles, Purchasing, Replenishment Parameters, Replenishment Source, Stocking Decisions, Warehousing
Key Metrics to Measure Inventory Turnover Last month we began our discussion of key inventory metrics with the customer service level. While the customer service level is probably the most important inventory measurement, inventory turnover is often the most...
by Jon Schreibfeder | Jan 1, 2020 | Best Practices, Forecasting, Order Cycles, Purchasing, Replenishment Parameters, Replenishment Source, Stocking Decisions, Uncategorized, Vendor Managed Inventory, Warehousing
Key Metrics to Measure Inventory Management Success The goal of effective inventory management is to meet or exceed customer’s expectations of product availability with the amount of each item that will maximize your net profits. As they go through the daily process...
by Jon Schreibfeder | Dec 1, 2019 | Analysis, Best Practices, Forecasting, Order Cycles, Physical Inventory – Cycle Counting, Purchasing, Replenishment Parameters, Replenishment Source, Stocking Decisions, Warehousing
How Much You Should Buy – Part II Last month we began a discussion of the economic order quantity (EOQ) formula. The economic order quantity is a mathematical equation. It will always provide the replenishment quantity that provides the lowest total cost. That is, the...
by Jon Schreibfeder | Nov 1, 2019 | Analysis, Best Practices, Forecasting, Order Cycles, Purchasing, Replenishment Parameters, Replenishment Source, Stocking Decisions, Warehousing
How Much Should You Buy? Part 1 By Jon Schreibfeder Over the past several months we have been reviewing the basics of setting replenishment parameters to ensure that you achieve the goal of effective inventory management: meeting or exceeding your customers’...
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...
