by Jon Schreibfeder | Jul 10, 2020 | Best Practices, Forecasting, Order Cycles, Physical Inventory – Cycle Counting, Replenishment Parameters, Replenishment Source, Stocking Decisions
Inventory Management with COVID-19 Part 7 The Economic Order Quantity (EOQ) In the last two newsletters we have examined your costs of carrying inventory and replenishing inventory. You must know both of these costs to help determine the “best buy quantity” of an...
by Jon Schreibfeder | Jun 16, 2020 | Analysis, Best Practices, Order Cycles, Purchasing, Replenishment Parameters, Replenishment Source, Stocking Decisions
Inventory Management with the COVID-19 Part 6 In the last issue, we looked at balancing the savings you receive by buying a larger quantity of a product at a lower cost per piece with the cost of carrying that extra inventory in your warehouse for a longer period of...
by Jon Schreibfeder | May 15, 2020 | Best Practices, Consulting, Forecasting, Order Cycles, Replenishment Parameters, Replenishment Source, Stocking Decisions
Inventory Management with the COVID-19 Part 4 Lead Times In the last several newsletters, we have been discussing ways to best manage your inventory while dealing with the effects of the COVID-19 virus. Topics have included adjusting forecasts and modifying safety...
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’...
