VIDEO: Reveal Your Inventory Planning Policy
Do you know how your organization sets its inventory planning policies and the degree to which you actually apply them? And that they’re doing the job?
Demand planning, forecasting, and inventory planning need to be well-defined processes that are understood and accepted by everybody involved.
Why it’s important to ask these 10 questions?
- Need to understand the policy before making improvements
- Undocumented/Intuition based Policies are Reactive
- When there is a problem, it is impossible to unwind how you got there – there are too many moving parts.
- These policies drive inventory spend – millions of dollars are at stake
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Armed with this information, you’ll be able to document your Inventory Planning process more clearly and identify opportunities for financial savings and process improvement.