Category: Inventory Management
ABC Classification in Inventory Management: Everything You Need To Know
In the dynamic landscape of supply chain and inventory control, understanding the value and significance of each item in your stockpile is paramount. ABC classification
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7 Reasons Why You Should Reduce Inventory
Are you tired of dealing with excessive inventory levels that eat up your storage space, tie up your capital, and hinder your company’s growth? If
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Top 10 Supply Chain YouTube Channels to Subscribe
YouTube is a fantastic platform offering a unique feel to social media exploration and learning the latest trends in Supply Chain from professionals. YouTube provides a
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What is Economic Order Quantity & its Advantages
Economic order quantity is one of the “most commonly used inventory-control techniques”. The objectives and advantages of Economic Order Qty (EOQ) are to minimize inventory
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16 Reasons Why it is a Good Idea to Increase Inventory!
When I wrote the article 18 Targeted Inventory Reduction Strategies for Supply Chain Professionals, I got some criticism from some of my readers that I
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Optimizing Inventory and Lead Time Management
The impact of lead time on inventory is well known, but in the real world the relationship can be much harder to define when multiple
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What is Plan for Every Part (PFEP)- 4 Levels of Benefits
What is Plan for Every Part (PFEP)? PFEP – an acronym is originating from the Lean Community. The PFEP is used to define a plan
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7 Rock-Solid Inventory Management KPIs Proven to Control Your Inventory
Every business person understands that the essence of inventory in the running of a business is huge and should not be overlooked. The reason for
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12 Useful Websites to Help You Liquidate Inventory and Make Money
Liquidating excess and obsolete inventory is a common issue in supply chain management. Fortunately, it doesn’t have to be a liability. Instead of letting excess
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INVENTORY CARRYING COST – 9 PAINFUL CONTRIBUTORS YOU SHOULD TRACK
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
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