Uncertainty must be managed by an inventory optimization solution . Key Factor Two: Inventory Optimization Must Match Your Organization Planning Process Your organization has a planning process. Bet it not perfect. However, it does dictate how youll go about the job of gaining support and successfully implementing your inventory optimization initiative.
Related to Inventory Optimization: Inventory Management, Operations Planning, Logility
An inventory optimization system is designed to help companies increase accuracy and overcome these issues in order to enhance customer service and lower operational costs. What is inventory optimization? The core objective of a good inventory management system is to provide the best possible customer service within the restraint of the lowest practical inventory costs.
Related to Inventory Optimization: Advanced Planning and Scheduling (APS), Channel Management, Content Management, Customer Relationship Management (CRM), Customer Service and Support, Data Management and Analysis, Demand Management, Electronic Distribution and Storage, Field Sales, Forcasting and Planning, Inventory Analysis and Planning, Sales Force Automation (SFA), Supply Chain Management (SCM), IBS, Manufacturing, Wholesale Trade
This increases the overall cost of inventory optimization and can also introduce signifi cant delays, making it diffi cult to accurately apply "inventory policy" and propagate the results across the extended supply chain. On a more technical level, the peripheral nature of separate inventory optimization solutions often requires the external duplication and manipulation of data.
Related to Inventory Optimization: Inventory Management, SYSPRO, Management of Companies and Enterprises
Find out how inventory optimization can help you reduce downtime and increase productivity.
Related to Inventory Optimization: Advanced Planning and Scheduling (APS), Capacity Requirements Planning (CRP), Enterprise Resource Planning (ERP), Forcasting and Planning, Forecasting, Inventory Management, Lean/Flow Manufacturing, Production Planning, Supply Chain Management (SCM), Mincom
How can you actually optimize inventory and gain all these key benefits and rapid returns on investment? Effective inventory optimization can be achieved by continually carrying out the following five activities. Since this is a continuous process, it is important to go over this list again to fine-tune inventory optimization and analyze performance.
Related to Inventory Optimization: Enterprise Resource Planning (ERP), Inventory Analysis and Planning, Inventory Management, IBS
name = TEC_WP; Case Study: Material Management Optimization by Lapiz Technical Services --> Email this to a friend View More Related Papers Receive White Paper Updates Case Study Description To be certain its materials management functions were up to par with industry best practices, a South African fertilizer plant obtained the services of an inventory optimization firm.
Related to Inventory Optimization: Asset Management, Business Intelligence (BI), Data Management and Analysis, Demand Management, Discrete Manufacturing, Enterprise Resource Planning (ERP), Inventory Management, Lean/Flow Manufacturing, Manufacturing Management, Operations Planning, Process Manufacturing, Product Lifecycle Management (PLM), Production and Supply Planning, Production Planning, Return on Investment (ROI), Supply Chain Management (SCM), Transportation Management System (TMS), Warehouse Management System (WMS), Lapiz Technical Services, Agriculture, Forestry, Fishing, and Hunting, Construction, Manufacturing, Mining, Miscellaneous Manufacturing, Wholesale Trade
Replenishment is an area within operations where retailers can find a competitive edge. Excelling at replenishment enables implementation of promotional, pricing, and assortment strategies. Also, profit can be gained by minimizing inventory levels and reducing lost sales. This increases time for analysis and special projects, as it?s no longer necessary to fight the fires of overstock and out of stocks.
Related to Inventory Optimization: Inventory Management, Replenishment Planning, RPE, Retail Trade
Invacare sells made-to-order (MTO) home medical equipment in 20 European countries. To shorten the product launch cycle, optimize the order process, and streamline spare part sales, Invacare chose the Cameleon Commerce Suite. Learn how integrating this e-commerce solution?with product configuration functions?with its enterprise resource planning (ERP) system helped Invacare reduce costs and increase customer satisfaction.
Related to Inventory Optimization: E-commerce, Enterprise Resource Planning (ERP), Product/Item Configurator, Access Commerce
This is why inventory optimization is a "must have" ERP feature for food manufacturers.
Related to Inventory Optimization: Document Management, Enterprise Resource Planning (ERP), Regulatory and Compliance, Plex Systems, Beverage and Tobacco Product Manufacturing, Food Manufacturing
All companies use some form of sales and operations planning (S&OP) to synchronize market data with production output. But most practice a planning process based on logistics rather than strategy. Taking a more strategic approach, however, the S&OP process can be designed to bring together a company?s marketing, finance, sales, and operations departments to continuously monitor?and meet?customer demand.
Related to Inventory Optimization: Manufacturing Management, Product Lifecycle Management (PLM), Production Planning, Supply Chain Event Management, SAP
Automotive parts manufacturers are fighting for survival in a competitive global economy. Many rely on enterprise resource planning (ERP) systems to ensure they survive. However analysts report that the majority of ERP implementations rarely come in as scheduled, frequently cost more than projected, and often don?t deliver satisfactory results. Learn what automotive parts manufacturers should look for in an ERP system.
Related to Inventory Optimization: Enterprise Resource Planning (ERP), Plex Systems, Motor vehicle and engine part and accessory manufacturing, Motor vehicle manufacture
Explore new supply chain technology advancements New technology advances are supporting multi-echelon inventory optimization, short-term forecasting accuracy, attribute-based planning, end-to-end traceabil- ity, and other supply chain improvements.
Related to Inventory Optimization: Enterprise Resource Planning (ERP), Process Manufacturing, Supply Chain Management (SCM), SAP, Beverage and Tobacco Product Manufacturing, Chemical Manufacturing, Manufacturing, Paper Manufacturing, Petroleum and Coal Products Manufacturing
For many distributors, inventory is the largest and perhaps the most important asset. Inventory ties up more money than buildings or equipment, and is often less ?liquid.? It is crucial, then, that distributors develop and use a comprehensive set of tools that allows close monitoring of the performance of inventory investments. Read more about simple measurements that can help you maximize your investment in inventory.
Related to Inventory Optimization: Asset Management, Business Intelligence (BI), Enterprise Resource Planning (ERP), Inventory Analysis and Planning, Inventory Management, Supply Chain Event Management, Tracking, Microsoft
Distributors must ensure the quantity of products shown to be available in their software system agrees with what is physically in their warehouses. If it doesn?t, valuable time and money are lost as customers seek other suppliers, salespeople physically check stock, and buyers are forced to overstock. Learn the policies and procedures that can maximize your inventory management system to maintain accurate stock balances.
Related to Inventory Optimization: Barcoding, Distribution and Warehousing, Enterprise Resource Planning (ERP), Inventory Analysis and Planning, Inventory Management, Tracking, Warehouse Management System (WMS), Microsoft
Logility Voyager Solutions TM is a comprehensive supply chain management solution that features performance monitoring capabilities in a single Internet-based framework and provides supply chain visibility; demand, inventory and replenishment planning; sales and operations planning (SOP) ; supply and inventory optimization; manufacturing planning and scheduling; transportation planning and management; and warehouse management.
Related to Inventory Optimization: Customer Service and Support, Distribution and Warehousing, Inventory Management, Operations Planning, Production and Supply Planning, Logility