Improve Inventory Management

Are You Struggling to Keep Your Inventory Under Control?

Inventory has a major impact on Profit and Cash Flow. Learn how to Improve Inventory Management for your business by clicking on the links to articles below.

Do You Think Inventory Doesn't Apply To You?

Are you a service industry? Then inventory still applies. Look at stationery as one example. Explore the articles below and improve inventory management

Selecting Next Diagnostic Step

Learn to use the 12Faces Diagnostic Process to best advantage, click More Info.

 

Choices to Improve Inventory Management

Improve Inventory Management and WIP

WIP = Work in Progress. Improve inventory management and increase Profits. This can be done by reducing inventory costs; managing Work in Progress; balancing stock to customer demand. Learn about the dangers of over and under stocking. 

Best Products to Stock

Have you been in business for a while? Then some of your products will have become obsolete. Use Merchandise Planning to work out which products to keep. Therefore, reducing your costs and increasing Profits.

Improve Inventory Management With Tools

Improvement to inventory management systems is extremely important. Learn about management accounting; 80/20 and inventory management; TOC Drum, Buffer, Rope Optimisation. Then have some fun with a dice game to simulate Profit. 

Monitor Inventory Performance

Learn about the tools available to monitor and improve inventory management systems. Click on the heading above. This covers performance ratios; measuring work flow; inventory pricing; under and over stock and more. Go to the article “Critical Financials for Business Explained” for Inventory Turns and Days Inventory. These are key monitoring tools. To monitor waste in your inventory go to the articles listed under “Waste Reduction in Business (Muda)” 

How to use our Diagnostics

Click on relevant links above to drill down and find possible solutions to your current issue.

Know of other Diagnoses and Solutions?

Please let us know of other possibilities by emailing us with an outline.  We will update our resources so you will be helping those who follow you.

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