Inventory - 12Faces

Inventory levels are critical in both manufacturing and retail environments. Both under and over stocking will cost you money and Profit. Service industries also have inventory items to be aware of.

The articles here go through solutions for over stocking and under stocking. In addition, practical Inventory Management Systems are discussed with links to further resources.

Have some fun with Dice Games to Simulate your Profit. This game models the movement of product through your Production Line using dice. Learn about a balanced line model and a constrained production system. The constrained model then goes on to explain the Drum Beat.

10AprApril 10, 2023

Cost of Over and Under Stocking

In a manufacturing or retail environment, having too much inventory of products your customers don't want and/or too little inventory on hand of what products your customers do want will cost you money and, consequently, profit. Many service businesses also have inventory even if it is items like stationary incidental...

By Scott WilliamsD2.1 Inventory Management Efficiency, G3: Optimizing a Business for GrowthCost Cutting, Inventory, Inventory Management and Work in Progress, Inventory Management Tools, Optimizing, Yellow Belt1 Comment

25OctOctober 25, 2019

My Business’s Problem Symptoms: I Don’t Know What’s Wrong

I DON'T KNOW What's Wrong! Are you faced with a confusing number of reasons why your business is experiencing a particular problem/s? It can be a challenge to drill down and identify the 'real' problem and see solutions. With YOUR problem in mind, select the link below that best fits your problem. Note: Campaign,...

By Scott WilliamsSymptoms MenuInventory, Marketing, Optimizing, Sales, Staff, TOC0 Comments

08JulJuly 8, 2019

Dice Games Simulate Profit Game

READY TO PLAY A GAME? SIMULATE YOUR PROFIT GAINS. Throughout 12Faces we talk about several different Workflow and Inventory Models. The Simulation Dice Game will quickly give you an impression of HOW these models work in practice. Think that YOUR business doesn't have a Production Line? That this doesn't apply to YOUR business? Restaurant...

By Scott WilliamsD2 Productivity and Operating CostInventory, Inventory Management Tools, Products, Profit, Sample Content0 Comments

03JulJuly 3, 2017

How Dice Games Simulate Profit Generation

Throughout the 12Faces, we talk about several different workflow and inventory models and their respective merits. You can quickly gain an impression of how these models work in practice by playing a simulation game with a set of dice. This will demonstrate the relative strengths and weaknesses of the various models...

By Scott WilliamsD11 Business WorkflowBlue Belt, Inventory0 Comments

23JunJune 23, 2017

Inventory Re-order Management for Profit and Productivity

A good Inventory Management System can dramatically improve the profitability of the business by streamlining production. This applies to not only a manufacturing business but any business that has a workflow process.

By Scott WilliamsD2.1 Inventory Management EfficiencyInventory, Inventory Management and Work in Progress, Optimizing, Profit, Understanding Financial Statements: Management Accounting0 Comments

04SepSeptember 4, 2016

How Kanban Improves Work Flow

Kanbans are a tool for structuring how work flows into the work-in-progress queues so that workers do not get overloaded and can use their time most effectively. Kanbans, and variations on them, are widely used in software projects (e.g. Scrum and Agile) and manufacturing (e.g. Lean and Six Sigma). Blue...

By Scott WilliamsBusiness Planning, D11 Business Workflow, G4: Executing Business GrowthBlue Belt, HR Productivity, Inventory, Inventory Management and Work in Progress, Inventory Performance Monitoring, Productivity Improvement, Project Management System, Repetitive Work Efficiency0 Comments

04SepSeptember 4, 2016

SM4.0 Business Efficiency: Waste Reduction Introduction

Eight Types of Waste The well-known Toyota car company identified seven types of waste that had an impact on Productivity and Profit. An eighth has been added more recently. By gradually reducing these wastes, you can improve the Productivity and Profit of your business. In Japanese, this is referred to as reducing "muda" (pronounced Moo-da). This article discusses how...

By Scott WilliamsBusiness Skills Modules, D2 Productivity and Operating CostCost Cutting, DP100, Inventory, Issue Management Planning, Optimizing, Productivity Improvement, Products, Toolkit, Waste, Waste Reduction in Business (Muda), Yellow Belt0 Comments

04SepSeptember 4, 2016

Importance of Small Batches Tool

There are merits to reducing the size of the batches you manufacture and/or hold in stock at any point in time. This might sound counter-intuitive because of the oft-quoted 'economies of scale' and the time cost of pulling down tool set-ups and changing them to manufacture another project. But, in...

By Scott WilliamsD2.1 Inventory Management EfficiencyCost Cutting, Inventory, Inventory Management and Work in Progress, Placeholder, Project Management System, Repetitive Work Efficiency, Toolkit, Yellow Belt0 Comments

Tag - Inventory

Cost of Over and Under Stocking

My Business’s Problem Symptoms: I Don’t Know What’s Wrong

Dice Games Simulate Profit Game

How Dice Games Simulate Profit Generation

Inventory Re-order Management for Profit and Productivity

How Kanban Improves Work Flow

SM4.0 Business Efficiency: Waste Reduction Introduction

Importance of Small Batches Tool

How about a brainstorming partner, to save you some precious time?