Dealing with a Chaotic Supply Chain – Part #2

Dealing with a Chaotic Supply Chain – Part #2 By Jon Schreibfeder and Matt Schreibfeder We continue to experience disruptions in the supply chain.  Material that used to be reliably available now is often hard to come by.  Last month we began our discussion of...

Key Metrics to Measure Inventory Management Success – Part 1

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...

How Much You Should Buy – Part II

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...