Monday, November 3, 2008
Inventory Reduction Opportunities Abound
In these tight economic times, surely everyone wants to reduced excess inventory and increase inventory turns for cash-to-cash improvements. However, Gary Goddard of IQS is showing a way to optimize inventory - eliminate excess with an inventory quality ratio. With tools to set targets and play what if, can change safety stock and cycle replenishment times - might improve 50% or more from today's average of 30-45% excess inventory cost on average. Carrier's conservative approach to gaining this visibility and their ability to write custom reports on this type of inventory issue have lead to doubling sales with the same inventory - and increasing inventory turns. Shortages are down by up to 75%.
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