Frequently Asked Questions


Inventory

 

NO Image:

Some questions that perhaps should be asked in regard to your inventory management ...


If on average I sell 0.5 units per month when is an inventory level of one not the right answer?

Q: If on average I sell 0.5 units per month when is an inventory level of one not the right answer?

There are many products of course which are sold in ones.

save, slow, stock

How can I proactively manage my inventory investment as business conditions change?

Q: How can I proactively manage my inventory investment as business conditions change?

If a downturn hits and hits quickly it is often all you can do to cut and cut quickly.

How can I set the right branch or store inventory levels as business conditions change?

Q: How can I set the right branch or store inventory levels as business conditions change?

Risk needs to be avoided. Every dollar of inventory investment has to be stretched as far as possible. True for you, but also true for your customer.

How can I adjust my inventory to the service levels provided by my suppliers during downturns and upturns?

Q: How can I adjust my inventory to the service levels provided by my suppliers during downturns and upturns?

With micq-if you can quite easily adjust the profiles for the overall business climate

How can I significantly reduce emergency orders by matching items in my inventory?

Q: How can I significantly reduce emergency orders by matching items in my inventory?

How often does a similar conversation play out in one of your sales branches or retail stores? It mightn’t be a camera and a special lens.

How do I factor in forecast accuracy, supplier lead times and variability, service level targets and order cycle periods into my safety stock calculations?

Q: How do I factor in forecast accuracy, supplier lead times and variability, service level targets and order cycle periods into my safety stock calculations?

Many ERP packages employ some very simple techniques to handle what are unfortunately very complex issues.

How much effort is required to get the forecast right and how much is this worth?

Q: How much effort is required to get the forecast right and how much is this worth?

Forecast sales is not the only factor that must be adequately estimated.

How can I reduce inventory levels and workloads by undertaking purchasing reviews every day?

Q: How can I reduce inventory levels and workloads by undertaking purchasing reviews every day?

You can easily be overwhelmed by the workload involved in managing a large range of products, especially where there is a long tail of low volume products.