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Inventory Crash Course

Lesson 6: Exception-Based Inventory Management

At this stage in the course, we have already covered the most essential steps in Inventory Management: Classify products to focus on the most important ones first and to set appropriate inventory policy Forecast products so... Read More

Lesson 5: Ordering

It doesn’t do you any good to have a meticulously crafted inventory policy if your ordering process is haphazard. You have to place Purchase Orders in line with your stocking policy, otherwise you’re going nowhere.... Read More

Lesson 4: Setting Inventory Policy

Setting inventory policy in line with realistic targets “If you don’t know where you are going, any road will take you there.” Setting objectives and goals for your inventory is fundamental to the success of... Read More

Lesson 3: Safety Stock

Why holding the right safety stock is so important If your suppliers always delivered the products you need in full at the exact moment you needed them AND you were able to perfectly predict when... Read More

Lesson 2: Forecasting

Forecast Management – a critical component to a healthy inventory The Pain We all know that forecasting is one of the key drivers of inventory replenishment. If we over-forecast, then we end up with excess;... Read More

Lesson 1: Inventory Classification

Are you investing time and money on items that aren’t profitable? Bad Inventory Classification Could Be Costing Your Business 10% of Potential Sales It is difficult to view hundreds, or even thousands, of inventory items every... Read More