Inventory Management

Inventory is a critical element to most businesses, but different functions within a business have different perceptions of how much inventory there should be. Sales tend to want large volumes of inventory to guarantee service; finance want the inventory minimised to reduce working capital, and operations want sufficient raw material to keep equipment operating efficiently. In addition, all inventories need to be of the right quality, positioned in the right place, at the right time, and in the right quantity. The difficult task of inventory management is to balance and satisfy all of these needs.

Is Your Inventory Optimised?

All too often companies use ‘rule of thumb’ techniques for inventory management that do not stand up to scrutiny. These techniques are not scientific, or factual, and are often based on perception or intangible experience. In many companies this leads to over-inflated inventory holding, ‘squirrel’ stocks and conflicting ideas between sales, finance, operations and supply chain as to how much inventory is truly required.

A Fact-Based Inventory Policy Can Be Developed In Any Business

There are proven methodologies and formulae that can optimise the level of inventory against all of the service, working capital and equipment utilisation criteria. These policies can be developed and introduced with consensus from all functions; they can demonstrate clear rationale and logic behind the resulting inventory levels, and they can balance and satisfy all of the needs of the business. Our inventory management consulting team is highly skilled in inventory policy development. We have considerable knowledge and experience in defining policies, formulae and calculations that can ensure inventory levels are fully optimised, justified and balanced with all the functional needs. Have a look at the typical inventory management areas considered by our consultants to optimise inventory performance or contact us now to discuss your inventory management needs.

Inventory Optimisation

At SCCG, we always endeavour to undertake the widest review possible to ensure elements of your warehouse, picking and despatch processes are not ‘sub-optimised’. We are highly experienced in analysing and developing solutions for all areas of Materials Management, Procurement, Stores and Inventory Optimisation and Management including Strategy Development, Stock location, Handling and Picking processes, Demand Forecasting, Integrated Inventory Control, Vendor Management, Vendor Support Operations and Performance Measurement.

We pride ourselves on key analytical skills, detailing above and beyond ‘Warehouse Best Practice’. All our analysis and solutions are specific to your requirements, costed, tested and presented with clear and concise rationale, a full set of operator and Process SOP’s and a detailed implementation path supported by various Inventory Management Tools. Our Consultants are experienced in Multi-Temperature Warehouse operations, management and implementation across all sectors.

Our Approach To Inventory Management

Appropriate warehouse and inventory management techniques to optimise workflow and costs
Optimised target inventories (holding cost vs. ordering cost vs. service)
Optimised warehouse design/stores layout, handling practices and workflows
Tactical stock location(s) and picking strategies
Safety stock requirements to meet specified service targets
Improved demand forecasting to allow for optimised inventories
Warehouse automation and Materials Handling Systems development and implementation management
Dynamic inventory targets reflecting varying demand patterns
WMS operational requirements specification
Cost to serve and pick rate modelling to support chosen optimised solutions

“The Supply Chain Consulting Group team was professional and constructive throughout the process. They were always open minded in discussions and prepared to discuss and clarify their opinions on any point whilst considering our views as the client.”

“I would characterise the service I have received from The Supply Chain Consulting Group as being friendly, extremely professional and has delivered well to some exacting and difficult targets. I would not fail to recommend the team to my peers.”

“The SCCG consulting team has given us the tools to control our supply chain in an organised, effective and consensual manner. We are delighted with the outcome of this project."

Inventory Management