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Inventory Management Program

INVENTORY RECORDS/ACCURACY

  • RECORDS - QUANTITIES/LOCATION, BILLS-OF-MATERIAL, ROUTINGS
  • MEASUREMENTS - SET TARGETS
  • ACCURACY - THE ENABLER
    • SYSTEMS
    • PLANNING & SCHEDULING
    • CUSTOMER SERVICE
  • TRAIN AND EXPLAIN
PLANNING/SCHEDULING
  • START WITH A PLAN - KEEP IT SIMPLE
    • MAKE TO STOCK/ORDER
    • CAPACITY
    • MANPOWER
  • SCHEDULING - DECISIONS OR DEFAULT
    • RAW MATERIAL/W-I-P/FINISHED GOODS
    • INTERNAL LEADTIME
    • SUPPLIERS LEADTIME
  • OBJECTIVES/MEASUREMENTS
    • INVENTORY TURNS
    • CUSTOMER SERVICE
EXCESS AND OBSOLETE INVENTORY
  • LOOK AT CAUSES
  • SUBSTITUTE
  • REWORK
  • RETURN
  • USE THE 80/20 RULE
  • HERB'S LAW: INVENTORY WILL FILL THE AVAILABLE SPACE