12 Steps to Achieving Effective Inventory Management - Part 1
Published: April 20, 2015
The goal of effective inventory management is to “meet or exceed customers’ expectations of product availability with the amount of each item that will maximize net profits.” This goal cannot be achieved by waving a magic wand or wishful thinking. The three essential elements for achieving this objective are:
• Best practice policies and procedures
• Software that provides the tools necessary to maximize the productivity and profitability of your investment in stock inventory
• The knowledge to effectively use your system
Join leading inventory management expert, Jon Schreibfeder, for a 4-part webinar series as he explores how to combine these three elements that will allow your company to achieve this goal.
This first session focused on how you can ensure inventory accuracy and determine what products to stock.
During this session Jon covered:
• An overview of the 12 step program
• Step #1 - How to ensure that all material movement is properly recorded
• Step #2 - How to develop an approved stock list that is separate from the material that you want to stock from the stock that needs to be liquidated
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