Inventory Management

Posted: 9th May 2015 (0 comments)

So many leaders and their manager’s struggle to manager their daily operations and end to end value chains. A primary cause is due to bad data. Leaders as us, at OTTS, “What’s the cause on why their management teams struggle to manage the business?”

It’s comes down to two primary issues:

  1. Usually the company’s ERP system was not set up correctly for Supply Chain Planning Operations. This certainly hinders a leader's ability to have superior critical decision-making. (We at OTTS see this issue all the time at small, midsize and large companies. OTTS can resolve this issue easily. Call 888-410-6887.)

  2. Companies have bad inventory control programs/processes. Again, this affects a company’s entire value chain, such as:

    a . Supply Chain Planning

    b. Strategic Sourcing

    c. Tactical Sourcing

    d. Logistics (Expedited Freight)

    e. Master scheduling

    f. Plant Operations

    g. Demand Management

    h. Financials

    i. Customer Service (Delivery Performance, Order fill rate)

    j. Quality

    k. Inventory Management

What are signs a company might have poor inventory control?

  1. Your company has teams in place that look for parts or finished goods in the warehouse or Distribution Center

  2. Product taken off line unable to complete due to missing parts

  3. WIP has a lot of almost finished product staged around the Operations

  4. Expedited freight( from suppliers into Operations or Operations out to the customer base)

  5. The Master Scheduler is unable to plan effectively .

OTTS has achieved great success at setting up Inventory Management Programs at several companies across the entire globe. OTTS sets-up companies to where a company has an inventory accuracy rate above 98.5%, by sku level.

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