Achieving Inventory Nirvana

Do you know the current inventory turns measurement for your company? Do you have a goal for improving that performance? These are important questions for any company that has inventory.

Why is OEE a popular manufacturing operations KPI

Overall equipment effectiveness (OEE) is a measurement of manufacturing operations that is generic enough to be applied to manufacturing in many different industries, allowing simple comparisons across dissimilar processes.

Following the Bread Crumbs

No company wants to have its products recalled. However, if a recall is necessary, the priority is to minimize the ramifications and complete it as quickly and efficiently as possible. Certain industries—such as consumer packaged goods, pharmaceutical, and automotive, among others—are well acquainted with the need to properly accomplish recalls. However, many other industries also are at risk, and they might not even know it.

What makes inventory turns a popular measurement?

All companies keep track of the value of inventory that they have in stock because it is an important part of the company’s financial status — usually one of the larger assets on the balance sheet. Total inventory value is not a useful measurement for operations, however. It needs context, and that’s what is provided by inventory turns.

How will augmented reality technology benefit manufacturing?

Manufacturing stands to gain tremendous benefits from augmented reality technology, and savvy leaders will learn about the possibilities now. The technology will experience a virtual explosion in use as designers create ecosystems to speed the development of applications.

Digital Manufacturing in the Experience Economy

We are entering the Experience Economy where customers are most interested in building memories, rather than in owning products or receiving a service. Economists and pundits alike are noting this major change in the business world to be as significant as the changes from an agricultural economy to the industrial age and from the industrial age to the service economy, which the developed world has traveled over the last two centuries.

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