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.
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 firstname.lastname@example.org 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.
Business and profits can increase in the coming year, new products can soar to unexpected heights, inventories can shrink (in a good way) and productivity can reach an all-time high. Now here’s the bad news: none of these things will be delivered into the stocking hung on the fireplace mantel by some jolly fat man in a soot-stained red suit.