Inventory Management Archives - Page 5 of 5 - Supply Chain Game Changer™

The Go-To List of Ways to Improve Inventory Management!

Featuring Our 10 Best Inventory Management Articles!

Today’s warehouse managers need to improve inventory management strategies. Shareholders want to increase profitability. Customers wish for better customer service. Amazon wants to take over the world.

This is nothing new, but as the world has evolved, the ability to improve inventory management has evolved in stride.

Supply chain leaders should follow these key strategies for ways to improve inventory planning services and inventory management.

The New Car Bait and Switch! A True Story!

Customers Do Not Care About Your Problems!

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The “Check Engine” light appeared on my vehicle recently. As the vehicle was over 11 years old and showing increasingly serious signs of breaking down, a trip to the mechanic confirmed that it would cost more to fix the vehicle then it was worth. So my wife and I decided we needed to get a new car.

We quickly researched vehicles and narrowed down the model and brand that we were interested in. After a visit to the local dealership, a test drive and some negotiating we bought a new car.

Within 24 hours of getting our new car our happiness turned to bitterness. The car they gave us was not the vehicle we had bought.

It seemed like we were the victims of a car dealership bait and switch!

Featuring Our 10 Best Inventory Management Articles!

A Formula For Achieving Game Changing Results!

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Inventory is often the single largest asset in most companies across any industry. It consumes a lot of cash, impacts return on investment and profitability, enables or impedes growth and customer satisfaction, and requires a tremendous amount of resource to manage it. Inventory Management is critical.

Yet a lot of companies big and small, well known and startups, struggle to manage Inventory effectively.

In this “Featuring” series article we are putting the spotlight on Inventory Management. We are presenting our Top 10 Inventory Management articles with techniques and approaches which will have something for everyone to learn from and apply in their own situation.

Double Inventory Turnover In 9 months!

World Class Inventory Turnover Infographic!

“We are a Supply Chain Services Company,” I was told.

“If we are truly a Supply Chain Services Company, then why is our Inventory Turnover only at 7?”, I asked.

I had just joined the company and in studying their financial performance it stood out to me that if we were truly a Supply Chain Services company then having only 7 Inventory turns was extremely uninspiring.

We needed to be dramatically better at managing Inventory to convince ourselves, and our customers, that we were a trusted and leading Supply Chain Services partner. Could we double inventory turnover?

What Exactly Is Supply Chain Management? 10 Different Definitions!

What Exactly Is Procurement? And What is Purchasing?

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When I began my career there was no such thing as “Supply Chain Management“. Supply Chain was not a title to be found anywhere on any organization chart.

Yet all of the functions that we now associate with Supply Chain have been around for a very long time: Planning, Inventory Management, Logistics, Procurement and Purchasing, Warehousing and many more.

So what exactly is the definition of “Supply Chain Management”? Interestingly there are many views on how to define Supply Chain.

Effective Inventory Management Keeps Your Business Thriving!

Featuring Our 10 Best Inventory Management Articles!

Effective inventory management is one of the most important aspects of running a successful business. It can be the difference between having the right products in stock when your customers need them and being caught short.

Good inventory management means having visibility into your inventory levels at all times, so you can make sure you have enough products on hand to meet customer demand. It also means having efficient systems and processes in place to track inventory levels, so you can quickly and easily reorder products when necessary.

The Exciting Use of Drones for Inventory Control!

Love at First Flight! Flying and Crashing My First Drone! (Video)

In my experience companies always had a need for Inventory Control and an annual inventory count during which all operations were shut down for at least 2-3 days. Even then there would a period during which records were being reconciled before operations could resume normal function.

On top of the annual inventory count there were ongoing manual cycle counts throughout the entire year. Dozens of people and departments were involved in this necessary, but extremely expensive, inventory controls requirement.

With the introduction of commercial drones for inventory management the potential for revolutionary improvements is very exciting.

A Basic Guide to ECommerce Inventory Management!

Featuring Our 10 Best Inventory Management Articles!

In this digital age, one of the best ways to earn money is to sell unique products online with the help of an eCommerce platform, such as Amazon, Alibaba, etc. However, to have a profitable online selling business, it’s crucial to understand the importance of inventory management in eCommerce.

An effective inventory management system is one of the most crucial elements of running a sustainable eCommerce business. It helps businesses arrange their products systematically and ensure all products are released on time to increase fulfillment rate and promote positive customer satisfaction.