How Effective Are Your Inventory Management Practices?

Last July, we asked our Indago members -- who are all supply chain and logistics executives from manufacturing, retail, and distribution companies -- "What adjustments do you need to make in the second half of 2023 to finish the year strong?" Our members ranked "Adjust our inventory management policies" as the top action they planned to take.

Now that we are in the second quarter of 2024, how would you rate the effectiveness of your inventory management practices? What are the biggest challenges you face in managing your inventory? What technologies are you using to improve your inventory management performance?

Those are the questions Indago members are answering this week.

It's not too late to take the survey. If you're a supply chain or logistics practitioner from a manufacturing, retail, or distribution company -- and you're interested in learning from your peers and taking this week's survey -- I encourage you to learn more about Indago and join our research community. It is confidential, there is no cost to join and the time commitment is minimal (2-4 minutes per week) — plus your participation will help support charitable causes like JDRF, American Logistics Aid Network, American Cancer Society, Feeding America, and Make-A-Wish.

Indago members will receive the survey results next week.?

In the meantime, what are the biggest challenges you face in managing your inventory? What steps are you taking to improve your inventory management performance? Post a comment and share your perspective!

Have You Experienced Freight Fraud?

That was the question we explored in our last survey, which is now available for download. Here is a quote by one of our supply chain executive members:

"Fictitious pick-ups need to be combated better, as well as opportunistic employee theft rings. On a couple occasions, trucks have been stolen during delivery, but these have been very quickly recovered and perpetrators identified thanks to the telematics system."