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 Inventory management articles

Cycle Counting and Physical Inventories   Avoid the pitfalls of the annual physical inventory by designing a more effective custom cycle counting system.  Insights on why you should cycle count, tracking inventory accuracy, blind counts, count timing, and effects of adjustments.

Guide to Inventory Accuracy   Defines 11 steps to more accurate inventory operations including emphasis on process evaluation, procedure documentation, employee training, and accountability.

Optimizing Economic Order Quantity (EOQ)   Many organizations fail to take advantage of one of the most fundamental inventory management tools available.  This article details data inputs, applications, and implementation of EOQ. Specific detail on Accurate order cost and Carrying cost calculations are key to calculating EOQ.

Optimizing Safety Stock   Determining optimum safety stock levels to provide high levels of customer service while maintaining minimal inventory is possible through the use of statistical based inventory models.  This article focuses on the Standard Deviations of a Normal Distribution Model. Details include calculating Safety
Stock using Service Factor calculation, Lead Time Factor, and Order Cycle Factor.

Consignment Inventory: What is it and When Does It Make Sense to Use It  The pros, cons, and implications of consignment inventory. When does it provide a strategic advantage and when is it just moving costs.

Negative Inventory: What you don't know may make things worse What you don't know about negative inventory balances may result in your making things worse by incorrectly "fixing it".

Software Selection and Implementation Tips Nuts and bolts tips on software selection and implementation, including tips on defining functionality needs, software testing, employee training.

Enhance Inventory System Functionality Through Custom Reporting Although software packages continue to get better it is unlikely that software manufacturers in the near future will be able to deliver adequate pre-defined reports to meet the diverse needs of their customers.  Discusses database terminology and various types of reporting tools available.

Backflushing   Article defines backflushing as a means for issuing inventory in a manufacturing environment, its application, and implementation tips.

 

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