A Realistic Approach to Inventory Reduction
A participant in one of our October workshops was frustrated. “Management wants me to reduce inventory by 25% and I have no idea how to do it.” I asked how they came up with this figure and he...
View ArticleLiquidating Excess Inventory, Part One
In these current economic times, most companies are trying to find new ways to liquidate unneeded inventory. In the next two newsletters we are going to explore some effective ways to achieve this...
View ArticleLiquidating Excess Inventory, Part Two
In today’s economy it is critical to remove the “fat” from your warehouse. Every dollar in inventory must be working as hard as possible for you to achieve your inventory-related goals. One critical...
View ArticleTrim Inventory…the Effective Way!
Current economic conditions have caused many distributors to experience a decrease in sales and lower profit margins. There is less money available to invest in inventory. But in order to remain...
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The Triangle of Cooperation
Most companies want to achieve the goal of effective inventory management: “Effective Inventory Management allows a company to meet or exceed customers’ expectations of product availability with the...
View ArticleCan Salespeople Be Replaced by Technology?
Last week management at JC Penny stated that within the near future RFID (radio frequency identification) bar code labels will be attached to all of their merchandise in all of their stores. These...
View ArticleAre You in Business for the Glory or the Money?
I literally grew up in a family-owned industrial distribution business. My dad (Norman) was a great guy and a fantastic salesman (in the best sense of the word). He was always in motion and wasn’t...
View ArticleIs Your Inventory System Better Than HealthCare.gov?
There has been a lot of discussion this month on the deficiencies of the ObamaCare website, HealthCare.gov. Its performance doesn’t match the promises made before the site was launched. The results:...
View ArticleContingency Planning
Your organization utilizes people, equipment, inventory and other assets to serve customers. Almost every day these three elements work in harmony to generate profits. They may work so well that your...
View ArticleContingency Planning Part II
The most important element of effective inventory management is to meet or exceed your customers’ expectations of product availability. To achieve this goal, you must depend on your vendors’ ability to...
View ArticleThe Silver Lining in Advice Articles
Some months ago, I discussed some bad advice that was being promoted by some industry experts. Your response was overwhelming. Many of you described other situations in which you did not receive...
View ArticleThe First Key to Inventory Accuracy
Over the past several weeks, I have been working with two customers to improve the accuracy of their inventory. That is, to ensure that the on-hand quantities in their computer system agree with what...
View ArticleWe’re Too Disorganized to Improve
Last week I received a phone call from the owner of a distribution company who said he was “desperate” to improve his inventory performance. In a lengthy phone conversation, we discussed his company’s...
View ArticleHow to Get Great Results From a Forecasting System
Many computer software packages today rave about their advanced forecasting and replenishment capabilities. If these systems are so good, why do so many buyers still make all of their replenishment...
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