Balancing Act: Advanced Inventory Optimization Techniques

Описание: Balancing Act: Advanced Inventory Optimization Techniques

Join Jeffrey Porter and Jeff Woodmansee from StockIQ Technologies as they present an insightful learning session on advanced inventory optimization techniques. In this session, they delve into:

Safety Stock Strategies: Learn how to define and manage safety stock to protect against demand and supply fluctuations.
Lead Time Analysis: Understand the importance of lead time and how to analyze it effectively.
Replenishment Methods: Discover various replenishment methods and how to apply them.
By the end of the session, you'll have a comprehensive understanding of how to balance these elements to optimize your inventory effectively.

Safety Stock Definition: A quantity of stock planned to be in inventory to protect against fluctuations in demand or supply. Synonyms: buffer stock, reserve stock.

Key Take-Aways
1. All products and SKUs are not created equal – segment your inventory by:
ABC Stratification (volume)
Forecastability (variability)
Service Level (importance)
2. Inventory policies are not generic based on a base-lead time or product category.
3. Use available tools/technology to determine inventory levels and stocking goals.