by Jon Schreibfeder | Jul 10, 2019 | Analysis, Best Practices, Forecasting, Order Cycles, Purchasing, Replenishment Parameters, Stocking Decisions
Protecting Customer Service – Part 2 Last month we began a discussion of safety stock. That is, “insurance inventory” to protect against unusually high demand or delays in receiving a replenishment shipment from the supplier of an item. Though we found...
by Jon Schreibfeder | Jun 10, 2019 | Best Practices, Forecasting, Order Cycles, Replenishment Parameters, Replenishment Source, Stocking Decisions
Protecting Customer Service – Part 1 Over the last several months, we have been discussing when to order products in order to meet your customers’ expectations of product availability. We have explored various methods for calculating accurate forecasts and...
by Jon Schreibfeder | Feb 15, 2019 | Stocking Decisions, Warehousing
Organizations with multiple stores or warehouses must assign an authorized replenishment path or “ARP” to every product stocked in each location. The ARP specifies the primary source of replenishment for each item on that branch’s approved stock list: Is it purchased...
by Jon Schreibfeder | Jan 15, 2019 | Best Practices, Stocking Decisions, Warehousing
In deciding what products to stock, remember the goal of effective inventory management: “Effective inventory management enables an organization to meet or exceed customers’ expectations of product availability with the amount of each item that will maximize net...
by Jon Schreibfeder | Mar 15, 2018 | Stocking Decisions
Last month we began a discussion of ranking your inventory using three different criteria: Frequency of sale or use (i.e. the number of times the product is requested regardless of the actual quantity requested) Profitability (i.e., annual gross profit dollars)...
by Jon Schreibfeder | Feb 15, 2018 | Stocking Decisions
When I talk to a client, they often refer to their “A” items. That is, those items that are most important to have available for immediate delivery or use. When I ask them how they identify “A” items, the most common response is total cost of goods sold recorded over...
