Optimizing the Potential of Inventory Management

Optimizing the Potential of Inventory ManagementMany organizations, regardless of industry sector or geographical location, find themselves in a comfort zone when it comes to managing their inventory. A high percentage continue to use Material Requirements Planning (MRP), and some even use spreadsheets for their planning, despite having expensive systems in place. The problem is that MRP was developed at a time when businesses could use static demand forecasts over an extended time period to allow for long production runs. In the modern world, long runs are rare and demand can be highly variable.

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No Business is Too Small for Inventory Control

A few months back, I wrote a blog entry comparing the uncanny similarities between building your own furniture and ERP selection.  Reflecting back on that post, I decided to brainstorm additional daily/real-life scenarios that can also be compared to daily struggles that manufacturers and distributors face within their own businesses.  What was the next issue I decided to address? Inventory management and, well…baking a pumpkin pie.

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