Alan shows you how identify new, data driven, re-order points for your stock items that take into account historical usage, lead times and service levels. These new re-order points can help you to reduce the risk of stock-outs and ensure that you are not keeping excess inventory when it is unnecessary.
Alan now looks more closely at the quality of information you hold on your inventory. What data is missing? Which transactions were anomalous? And which stock items exhibit the most variability and seasonality?
Alan takes you through the Smart Inventory Management interactive dashboard, showcasing an overview of your inventory and putting the spotlight on your potentially obsolete stock.
In June 2018, I was invited to speak at the UK Manufacturing and Supply Chain Conference in Coventry on the Subject of MRO Inventory Management. Based on the standing room only, it was obvious from the start that this is a growing pain for organisations, large and small.