How can you keep your inventory available when needed?

To ensure the availability of inventory when needed, a robust inventory management system is essential. This involves implementing effective demand forecasting mechanisms to anticipate customer needs accurately. Regularly monitoring stock levels, reorder points, and lead times helps in maintaining optimal inventory levels. Utilizing advanced technologies, such as RFID or barcoding, facilitates real-time tracking of inventory movements. Establishing strong relationships with suppliers can also contribute to timely replenishments. Additionally, employing safety stock and buffer strategies provides a safety net against unexpected demand spikes or supply chain disruptions.

A previs?o da demanda (forecast ou carteira de vendas) é extremamente importante para que a Companhia possa planejar de forma adequeada e eficaz o abastecimento das matérias primas, insumos e seus respectivos níveis de estoques (cobertura ideal) . Desta forma o alinhamento entre as áreas Comercial , Supply e Industrial é essencial a fim de garantir os níveis ideias de abastecimento, evitando rupturas e sobreposi??o dos estoques . N?o obstante aos controles e inventários (rotativos e cíclicos), é necessário que haja uma rotina de monitoramento (vendas x opera??es) que permita corrigir imediatamente os desvios quando necessário , garantindo o giro eficiente , o que impacta significativamente na perfomance , custos e fluxo de caixa.

Cycle count your inventory repeatedly, with intense focus on your higher volume items. The higher frequency of counts keeps you informed of operational disciplines. Your in-stock position is key to customer retention which is key to sales growth!

A better inventory system would integrate automation, real-time tracking, and analytics. Utilizing technologies like RFID or advanced barcoding, coupled with software that provides real-time updates and predictive analytics, can enhance efficiency and accuracy in managing inventory.

3 concepts to achieve this: 1. Good CPFR (Collaborative Planning, Forecasting and Replenishment) between all the nods of the Supply Chain. 2. Overcommunicate with your suppliers, warehouses, inbound/outbound transportation, buyers, planners, operations... in summary, with all the stakeholders. 3. Optimize your safety stock for unforeseen peaks of demand. Optimization should include speed of processes as well.

Always has two ways to get the right number order: 1. System: brain to calculate according to avg sales, safety stock days, minimum qty, lead time, order periode etc 2. Human: heart in operation consider to factor X, that can not be calculate, for example bulk sale, rapid trend, on off availability product, market wise etc.. Thanks

In my experience, we assess the minimum reorder quantity in the system every 3 months, considering both demand and the lead time required to replenish the items. This approach ensures not only that the inventory is available when needed but also helps minimize the risk of inventory becoming obsolete.

We need to determine the type of demand, whether dependent or independent, to approach its prediction accurately. After identification, it is essential to know its classification, whether it involves a single product with low or high probabilistic certainty, or multiple products. This is necessary to select the appropriate demand prediction model, such as variants of the Economic Order Quantity (EOQ) model, exchange curves, continuous review models, or periodic review models.

El pronóstico de la demanda..... Mucho podrás leer al respecto, algoritmos, y herramientas para ello. Te diré algo que debes considerar también Si pronosticas vender 100 debes también ACTUAR para generar esa demanda, no solo es planear o pronosticar.

Maintaining inventory availability involves forecasting future demand using past sales data, market trends, customer preferences, and seasonal variations. Employ techniques like moving averages, exponential smoothing, regression analysis, or machine learning for accurate demand predictions. Forecasting aids in strategic planning for purchasing, replenishment, and allocation decisions, allowing timely adjustments to inventory levels. By aligning inventory with changing customer needs and expectations, businesses enhance responsiveness, optimize stock levels, and minimize the risk of stockouts. Robust demand forecasting is a pivotal practice for proactive inventory management, enabling businesses to stay agile in dynamic market conditions.

EOQ is one of the oldest replenishment systems that aims to reduce ordering cost and ordering cost EOQ= square root of (2 x (demand uints x order cost ) / carrying cost per unit) But EOQ to be effective in terms of inventory availability demand needs to be predictable and stable ROP is the about setting a certain point or level of inventory where inventory should be replenished. ROP = DDLT (Demand during LT)+ SS (Safety Stock) ROP doesn’t optimize the order qty that can lower ordering cost or carrying cost but it can optimize inventory availability when the point of order is a DOS. For example if the LT is 3 months so we can aim 3 months of demand plus 1 month of SS.

En mi experiencia, lo mas importante es el manejo real de la informacion, el consumo de productos, puede variar, debido a temporadas, es por esto que se debe tener informacion de primera mano junto al area de ventas. Lo mas eficiente, es tener auditoria de puntos de pedido, al menos cada dos meses, para garantizar existencia.

Set inventory levels Set min and max Run a weekly inventory reorder report Spot check your inventory and count Balance the reorder report with your sales report Make adjustments as needed Order from your report findings And repeat

Inventory holding days as per company norms+ open to buy+ lead time+ visibility on availability as there are brands and company where demand is always higher than production and you need to buy in advance to avoid non availability of products. System can forecast based on formula you are driving any application but closer look and coordination with brand always required based on external factor which can impact on your inventory. Majorly out of productions based on manufacturer schedule of production.

Setting reorder points and quantities is crucial for maintaining inventory availability. Utilize formulas like Economic Order Quantity (EOQ), Reorder Point (ROP), or Safety Stock to determine when and how much to order from suppliers. This strategic approach optimizes ordering costs, inventory carrying costs, and service levels. It also mitigates the risk of stockouts or overstocking, ensuring a balanced inventory that aligns with demand. By implementing effective reorder point strategies, businesses enhance operational efficiency, reduce carrying costs, and foster a responsive supply chain that adapts to dynamic market conditions.

Build and establish IMS, design a MIN/MAX for each part considering the consumption history, lead time and part cost. By having the abovementioned applied in a proper way; definitely you will be having an excellent inventory control.

O empenho de todos no processo n?o adianta montar tudo a estrutura e parte de gest?o n?o analisar os dados e o feedback do ch?o de fábrica mesmo sendo uma crítica dever realizar

Importante lembrar que n?o existe uma "Fórmula Perfeita" que sirva para toda e qualquer situa??o. Manter o estoque balanceado permite que as empresas possam fazer investimentos com o capital que estaria ocioso na forma de estoques. Para come?ar a montar uma base de dados estruturada para sua análise precisa conhecer as variáveis que impactam no processo. Independente da política que encaixar no cenário, é válido classificar os materiais por nível de importancia, (mais comum curva ABC: custo x demanda). Outra dica é estudar o comportamento da demanda por meio de uma medida estatística (desvio padr?o ou coeficiente de varia??o por ex). Um item com demanda constante n?o requer altos volumes de estoques, visto que os consumos s?o previsíveis.

A escolha da melhor ferramenta depende das necessidades específicas e do tipo de opera??o de negócios. A análise ABC é eficaz para priorizar itens de estoque com base na importancia financeira. O just-in-time visa receber os produtos conforme a demanda, minimizando os estoques. A contagem de ciclos envolve inventários regulares para manter a acuracidade. N?o existe apenas uma ferramenta considerada a melhor, pois a adequa??o depende da natureza do negócio. A abordagem ideal é a combina??o dos elementos dessas ferramentas, sendo eficaz para manter o estoque enxuto e disponível de maneira eficiente. A escolha deve ser alinhada aos objetivos específicos e à metodologia operacional da empresa.

Establishing and following inventory control policies and procedures is the fourth step to ensure inventory availability. Employ methods like ABC analysis, just-in-time (JIT) approach, or cycle counting to align with business goals and operations. Implementing these policies enhances inventory accuracy, efficiency, and productivity. Moreover, it ensures compliance with legal and ethical standards. ABC analysis prioritizes items based on importance, JIT minimizes holding costs through timely inventory replenishment, and cycle counting maintains ongoing accuracy. By adopting tailored inventory control strategies, businesses optimize operations, uphold compliance, and fortify their ability to meet customer demand effectively.

On-the-job training provides hands-on experience, while online courses offer structured learning. Feedback and recognition acknowledge staff contributions, boosting morale. Rewards, tangible or intangible, serve as incentives for exceptional performance. This holistic approach creates a motivated workforce, capable of performing inventory-related tasks effectively and responsibly. Investing in staff development not only improves inventory management but also cultivates a positive work environment. A culture of continuous improvement ensures that staff remains adaptable to evolving inventory needs, contributing to overall operational effectiveness and customer satisfaction.

Develop confidence and build trust among team members! Always compliment their minor achievements and offer incentives to enhance their energy level at the ground!

Training is huge and a lot of companies train you only "in a perfect world" scenario. I make sure to show and train with all the different scenarios, overage, shortage etc. I usually set up few scenarios in sandbox based on live data and plant some errors to see if they paying attention. Double checker is a must. People that do not deal with inventory tend to not care about numbers in the computer because they are just numbers and they don't better so a good lesson on this is our money is always good. I trained people with SOP's and manuals, recorder videos but nothing is as effective as live training and getting it done, making mistakes and learning from them.

"A effective strategy to ensure inventory availability is to implement a robust inventory management system. This entails accurate demand forecasting, proactive replenishment, and continuous monitoring of stock levels. Furthermore, optimizing logistical processes and establishing strong partnerships with suppliers can significantly contribute to maintaining available inventory and efficiently meeting operational needs."

Training and motivation is very essential to any successful business. First thing you need right people with positive attitude towards employees. These individuals have to have strong sense of confidence and knowledge of your business. Secondly, it extremely important knowing history of the company and all the stakeholders. Now all your lead hands need to be people person. All the Instructions are given in simple language plus posted in the appropriate areas and format. Over the years I have learned that grass root people will make or break your business. Therefore, you need to standardize everything. This is from hiring people, purchasing, storing, recruiting, receiving, marketing, and knowledge of customers. Remember, courtesy and respect

Inventory Turnover Ratio: This assesses how many times a company's inventory is sold & replaced over a specific period. A higher turnover ratio generally indicates more efficient inventory management. Formula: Cost of Goods Sold (COGS)/Average Inventory. Fill Rate: Measures the percentage of customer demand that is met from stock on hand without backordering. It reflects the efficiency of your supply chain in meeting customer orders promptly. A higher fill rate indicates better customer service. Formula: (Orders Filled/Total Orders)*10 Supplier Performance: Evaluate the performance of suppliers in terms of delivery times, order accuracy, and overall reliability. Strong supplier relationships contribute to smoother inventory management.

Keeping inventory levels optimal reminds me of my days as a supply chain analyst at Maruti Suzuki. It's like a finely-tuned engine in a car – every part needs to be in sync. We used real-time tracking to keep just the right amount of auto parts in stock. By predicting the ebb and flow of demand, much like anticipating road traffic, we maintained smooth production runs. Setting reorder points was key, ensuring we had the parts before we hit the "red zone" of stock levels – a strategy that kept the assembly line moving without a hitch.

. Além disso, você pode implementar melhores práticas, como a gest?o de estoque just-in-time, para otimizar a eficiência e reduzir o excesso de estoque. Outras práticas incluem a implementa??o de um sistema de previs?o de demanda preciso, a ado??o de tecnologias de gest?o de estoque avan?adas e a colabora??o com fornecedores para reduzir lead times e custos de transporte. Ao medir e melhorar seu desempenho e implementar melhores práticas, você pode garantir que seu estoque permane?a disponível para atender à demanda e que sua opera??o de estoque seja eficiente e lucrativa.

Have great communication with your supply chain. Plan for a worst case scenario Have a plan B for suppliers Communicate with your employees. Tech can help but human interaction and comments can never be replaced by computers.

Adopt effective inventory management practices. Utilise forecasting to anticipate demand, maintain safety stock, implement a just-in-time system, and regularly update inventory levels to avoid stockouts. Additionally, employ tech like inventory management software for real-time tracking and optimisation.

Check Historical database , backlog commitment and business forecast inputs. Check high value items who calls for financial exposure if not used in committed time.

Organization. A neat, clean and organized backroom/warehouse. Product should be easily visible and accessible by all team members.

Estoque parado é custo. Ent?o o ideal é que tenhamos uma análise prévia, para direcionar o estoque já produzido e fa?amos métricas considerando as produ??es anteriores, para a nova produ??o, contando com margem em torno de 10% acima do estipulado para eventuais solicita??es fora dos padr?es. Trabalhei em um órg?o público onde visamos esta forma e conseguimos trabalhar sem perdas e reduzindo o custo de estoque parado.