Inventory comes in many forms and flavors; it is the critical element of supply chains that enable a firm to respond quickly and take advantage of scale. However, managing inventory is one of the most...
Inventory management (IM) is a critical component of any successful organization where the mechanics of measuring and monitoring inventory involve KPIs, dashboards, and data science...
This blog will provide some basic information on CPIM to balance the SAIM focus of these webinars and most importantly position the two so that the oversight of inventory is coordinated.
I mean who suffers directly when finished product inventory runs amuck by level, mix, or availability? Well, we all do, don’t we? After all, if we made it and can’t sell it, what have we done? Or, what if we promised it to customers but haven’t made it? Until we give finished goods velocity, no profits roll into the business meaning, no revenue (assuming when it sells, it gains velocity). Just think of the other side of the coin when it goes to the scrap heap for a write off (terminal velocity).