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              Home | Global Practice Lines | Inventory Management

              Inventory Management
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              Supply Chain, Strategic Sourcing, Initiatives, Globalization
               
              Supply Chain, Strategic Sourcing, Lean Manufacturing

              Transportation rationalization offers great potential for cost savings. Movement of goods may account for 25% of a company's budget.

              Manufacturers are addressing these inventory challenges and pressures to lower inventory investments by changing their inventory management methods and integrating systems

              Inventory Management Methods

              • Inventory targets based on customer requirements
              • Stocking strategic
                • Managing products differently by classification
                • DC’s near major transportation hubs
                • Use air freight for “quick” response
              • Product and parts stratification
              • Networks and deployment based on service strategies

              Systems Integration

              • Integrating stand alone systems
                • Ordering
                • Inventory
                • Management
              • Visibility of product inventories at all echleons
              • Automatic inventory updates
              • Visibility to product customization and product on hand
              • Production and distributor coordination

              Supply Chain, Strategic Sourcing, Inventory Dynamics, Operations, Distribution

              Demand Forecasting
              A single method for forecasting demand rarely works well for all products, especially if the company has experienced product proliferation

              Product SegmentRelevant MethodMethod Description
              New
              • Life Cycle
              • Opinion
              Predefined profile consulting with
              customers
              Mature, non-promoted
              • Time Series
              Historical Pattern/Projection
              Mature, promoted
              • Time Series
              • Cause/Effect
              Historical Pattern/Project
              Action: Promotions or pricing, etc.
              Seasonal or Unique
              • Life Cycle
              • Time Series
              Predefined profile
              Historical pattern/projection
              Dependent
              • Cause/Effect
              Action: Promotions or pricing, etc.
              Cyclical
              • Cause/Effect
              Action: Promotions or pricing, etc.

              Supply Chain, Strategic Sourcing, Operational Forecasting, Supply and Demand

              Challenges

              Companies are also facing many inventory management challenges

              • Distributor and production coordination
              • Inventory ownership (centralization versus decentralization)
              • Profile life cycles management
              • Inventory deployment and allocation
              • Changing product characteristics and customization
              • Shift from in-house manufacturing to outsourcing
              • Product returns and repairs
              • Increased customer service requirements
              These challenges are typically met by large investment inventory

              Supply Chain, Strategic Sourcing, Customer Service



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