Tag: inventory management

  • Reducing inventory to improve costs

    Reducing inventory to improve costs

    The economic crisis is showing signs of falling behind, but that does not mean money is piling up, let alone that it is time to loosen control and the urge to cut back unnecessary expenses. Inventory management is one area where it is always possible to improve. Depending on the type of product your company […]

  • Key Performance Indicators (KPIs) for Inventory Planning and Control

    Key Performance Indicators (KPIs) for Inventory Planning and Control

    Keeping inventories at the exact desired level is not an easy task. It requires coordination between purchasing, sales, forecasting and demand planning. Very high inventories guarantee demand satisfaction but incur high costs. Low inventories ensure low maintenance costs but involves the risk of losing sales, which represent a very high intangible cost. Let’s look at […]

  • What is inventory management?

    What is inventory management?

    Inventory management, in the context of an industry, usually refers to the material resources management that can help the company generate revenue in the future. The person responsible for this part of the management is the Operations Manager. For example, a retail store that sells various items, such as a grocery store or department store […]

  • What is inventory control? Doing more with less

    What is inventory control? Doing more with less

    Logistics is often visible through inventory and trucks doing transportation. Today we will talk about the importance of a good inventory control and its management, the different types of inventories and the costs that are associated with them. What is inventory? Inventories are products or goods held for future use. These products that make up […]

  • Demand management and forecasting

    Demand management and forecasting

    All major problems in inventory management arise from failures in demand management and forecasting. One of the most serious problems in inventory management is the bullwhip effect: a small variation in customer demand causes a huge trouble in the upper echelons of the supply chain (distributors, wholesalers, producers). Therefore, good demand management and forecasting is […]