Inventory carrying cost describes the cost incurred by a business for holding inventory over a particular period of time. Similarly, inventory carry cost is the sum total of expenses which a company acquires as a result of storage. The costs include taxes, insurance, cost of obsolesce, shrinkage, warehouse, damage and relocation. As long there is… Continue reading
On Linkedin, some followers have asked me if I can do some research and recommend Top 30 Supply Chain Management Degree Programmes in the USA. Given I have recommended Top 6 Masters in Supply Chain Management in UK and also Top 23 European Masters in Supply Chain Management. Historically I have seen people used to… Continue reading
We all know the importance of demand forecasting in the supply chain, but the question people mostly ask which of the many forecasting methods is best suited for us? In my experience, Made-to-stock business has to forecast because that’s how they decide what to build. If there is no forecast and you are buying from… Continue reading
Do you know the importance of inventory management? I am sure most of you will say yes! But do you know the full range of benefits. Inventory management enhances business operations with the effective flow of goods and services. Inventory Management and control implies the controlling of business stock or controlling the movement of products… Continue reading
First and Foremost, Happy New Year to you all from SCMDOJO! “The Pessimist Sees Difficulty In Every Opportunity. The Optimist Sees Opportunity In Every Difficulty.” – Winston Churchill This was the key message for me in 2018. During 2018, I made the biggest change by rebranding from Muddassir to SCMDOJO to move from a single… Continue reading
From the early assembly lines to cutting-edge robotic systems, the continually evolving supply chain technologies is Shaping the present and the future. Most recent trends in supply chain technologies focus on a smart, tech-driven solution to decrease operating costs and improve efficiency. These changes are based on leading supply chain establishments having immediate adoption and… Continue reading
Amongst the big issues killing any business valuation is the volume of inventory at hand that is placed as excess and obsolete. Excess and obsolete inventory is the outcome from several problems that ensue due to “a series of unplanned proceedings”, and often extends to many functions. For a typical business, the excess and obsolete… Continue reading
If the businesses want the functions of their supply chain to be optimized or achieve supply chain optimization, it is not sufficient to simply select a correct strategy. They rather need to analyze their weaknesses and strengths, for improving the demand chains in terms of measuring their overall performances. Hence, the potential failures can be… Continue reading
Definition: Inventory Rationalization The article, “Controlling Just Noticeable Differences in Quality”, by Joseph M. Kamen, published in the November- December 1977 issue of Harvard Business Review has influenced me over my career. In the article, Mr. Kamen talks about changes to products, process or operations that are almost so small as to not be noticed, but when… Continue reading
Companies are increasingly trying to achieve sustainability in supply chain management (SCM). The goal is to achieve sustainable flows of products, services, information and capital to provide maximum value to all corporate stakeholders. The practices and structures of a globalized, capitalist world order gave rise to several challenges for corporations. Sustainable development is undoubtedly among… Continue reading
is a Manufacturing Operations, Procurement and Supply Chain leader from international multi-site manufacturing experience in Electrical, Hydraulics and Internet industries
Latest comments from readers