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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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