Your success revolves around maintaining the right stock levels

Inventory Management

If your inventory is more business burden than business backbone, it is time to review.


Your success revolves around maintaining the right stock levels. Too little stock, and you can’t meet customer expectations, and too much stock you can't afford it.

Inventory Management Consultants Australia
Inventory Management Consultants Sydney

If products are your business

 

Success is a balancing act.

 

Given the inextricable interdependencies of sales and operations planning, ongoing success for a growing or large business is only feasible if you’re able to predicatably forecast demand and integrate forecasts into your sales and marketing plans.

 

There are many ways to look at forecasting.  Using past history, your sales budget for the year, and input from the sales and finance teams you have a forecast.  We can help you turn that into an inventory purchasing plan to meet your needs.

Inventory cost ~ 30% to hold


What cost in the holding of inventory:


  • purchase order / placement cost
  • stock take cost
  • carrying costs (storage)
  • cost of capital (payment before revenue)
  • insurance costs (to cover loss)
  • cost of staff to manage the inventory
  • inventory handling in the warehouse
  • inventory deterioration
  • damage, expiry, obsolescence, theft

Management Review


The first task is to consider the current methods of inventory management used, Identify the current processes, locations, quantities, current stock investment, and associated costs of holding stock.


  • how much could you add to the bottom line with good inventory management
  • how do you reduce your exposure to obsolete and excess inventory
  • what impact are back orders causing in lost sales and poor customer perception
  • what are the current customer service levels – can you afford good customer service
  • what safety stock do you need to keep


Next we analyse and compare the stockholding strategies against the business plan.


We then discuss the line fill targets and if the budget for inventory is achievable and discuss the trade-off between inventory costs and customer service levels.


Inventory Systems


Supply Today can assist you with:


  • inventory Management Software
  • compare leading inventory control systems
  • review current setup and configurations to optimise your procurement processes
  • review current standard operating procedures; and
  • implement sales and operations planning.


With more than 30 years’ experience in inventory control and management we can transform your inventory issues from business burden into business backbone.