Achieving World Class Inventory turnover performance is an aspiration, a requirement and a challenge for many companies. We’ve written several blogs on this subject to share our experiences in achieving truly game changing results in inventory management.
Attacking just a single element of inventory has, in our experience and observation, proven to be an insufficient approach to making significant, sustainable changes. The entire ecosystem of processes, variables, and stakeholders requires taking a holistic approach enlisting a variety of tools and techniques (eg. lean inventory management) to drive game changing inventory performance.
Given the breadth, depth and complexity of the Inventory Turnover management ecosystem it is not surprising that there is much to be addressed in this area. We’ve captured much of this in our article Featuring our Top 10 Inventory Management articles.
In this blog article we’ve captured much of this content in a single Infographic
Many of the principles, processes and approaches described here to improve Inventory management performance can be used in any other aspect of your business. World Class Inventory Turnover management is critically important in the area of Supply Chain because of its dramatic implications for customer delivery, profitability, cash management, and return on investment.
Whatever your problem, whether it be in Supply Chain, Finance, Operations, Manufacturing, Marketing or Planning the fundamentals for driving transformational change are the same. Focus on Process and Culture. Take a Holistic approach. Break through barriers. Be bold and be brave.