Despite the focus on inventory (check out Dave’s article “Inventory errors cause revenue losses”), we as operations managers, do not actually manage inventory. We manage production, resources, sales, etc. Inventory is a visible measurement of the success of our efforts.
It is generally accepted that inventory records should be at least 95-to-98 percent accurate in order to enable successful enterprise resources planning and provide good customer service. But your information system and the plans, recommendations, and alerts it gives you are only as good as your data. While many companies are able to achieve and maintain inventory accuracy, many more continue to struggle.
The Granite State Chapter of APICS will be offering the upcoming 3D printing presentation at the Pease Tradeport in Portsmouth, NH on April 21, 2015. This session is open to everyone. Please contact Ann Yenchick at email@example.com to reserve your … Continued
Lead time is arguably the most important factor in manufacturing and distribution. To a great extent, it determines how you set up your business, what inventory you carry and where/why, what you can offer to your customers, and how agile and responsive you can be to changing conditions and changing demand.