Backing into Safety Stock is the Safe Play
Safety stock is a critical component in any system of inventory management. Indeed, some inventory software treats safety stock as the key decision variable in the quest to balance inventory cost against item availability. Unfortunately, that approach is not the best way to strike the balance.
Engineering to Order at Kratos Space – Making Parts Availability a Strategic Advantage
The Kratos Space group within National Security technology innovator Kratos Defense & Security Solutions, Inc., produces COTS s software and component products for space communications – Making Parts Availability a Strategic Advantage
MAX-MIN OR ROP – ROQ
This guest blog details the differences between Min-Max and Reorder Point- Order Quantity replenishment logic and why it is important. It is authored by Phillip Slater, Founder of SparePartsKNowHow.com the leading educational resource for spare parts management. Mr. Slater is a global leader and consultant on materials management and specifically, engineering spare parts inventory management and optimization.
Handling Extreme Supply Chain Variability at Rev-A-Shelf
Does your extended supply chain suffer from extreme seasonal variability? Does this situation challenge your ability to meet service level commitments to your customers? I have grappled with this at Rev-A-Shelf, addressing unusual conditions created by Chinese New Year and other global events, and would like to share the experience and a few things I learned along the way.
Recent Posts
Want to Optimize Inventory? Follow These 4 StepsService Level Driven Planning (SLDP) is an approach to inventory planning based on exposing the tradeoffs between SKU availability and inventory cost that are at the root of all wise inventory decisions. When organizations understand these tradeoffs, they can make better decisions and have greater variability into the risk of stockouts. SLDP unfolds in four steps: Benchmark, Collaborate, Plan, and Track. […]
Webinar: Maximize Revenue and Minimize Inventory CostsPlease join our webinar featuring Greg Hartunian, CEO of Smart Software, who will explain how optimization works and how it compares to traditional approaches that pick an arbitrary service level target. . . […]