Rightsizing Inventory

Understanding inventory—its costs, its place in the supply chain, and what is considered its optimal level—is important to an organization’s profitability. Demonstrating how each link in the supply chain plays an integral role in the success of the whole, Rightsizing Inventory examines inventory throughout the entire internal and external supply chain. The book covers every aspect of inventory. Each chapter defines roles and responsibilities, identifies methods to improve collaboration, and presents the tools, techniques, and methodologies for each link.The book includes150 TIPS on "How to Rightsize Inventory,” and examines the areas of finance, accounting, sales, marketing, planning, purchasing, manufacturing, warehousing, transportation, distribution, facilities management, human resources, information technology, product engineering, process engineering, field service, quality, and the external customer. Providing a complete overview on inventory and its place in the supply chain, Rightsizing Inventory is an important resource for those involved in making that supply chain run smoothly and profitably.

Use demand driven optimized inventory and replenishment to overcome your supply chain weaknesses, and deliver business-maximizing results Reviewing the fundamentals of inventory optimization so that you can attain a demand-driven supply, Demand-Driven Inventory Optimization and Replenishment provides a business look at why present inventory systems sub-optimize the supply chain and faulty replenishment processes lead to wasted time and effort. Straightforward and clearly written, this book allows readers to come away with a good understanding of why optimized inventory and replenishment helps overcome in-system weaknesses and deliver results. Discusses how multi-echelon inventory optimization and replenishment enables installed systems to go from a sequential, "islands of efficiency" approach to a systematic distribution system working as a complete network Provides case studies throughout Reveals how optimized inventory and replenishment delivers results across industry verticals With a historical view of the three major supply chain efforts of the last thirty years, this book discusses mathematical shortcuts set up in the transitional and supply chain management systems that make it very difficult for companies to attain supply chain excellence.

Looking beyond the complexity and theory of inventory management, authors Geoff Relph and Catherine Milner examine managing inventory and achieving targets. Whilst the first edition mainly focused on planning, this new edition of The Inventory Toolkit includes three new chapters that go beyond planning to implementation. Amongst other topics, the new chapters cover holding and moving inventory, working with suppliers and using stack and flow to identify pinch points and facilitate lean and agile operations. This comprehensive second edition of The Inventory Toolkit includes case studies from diverse industries such as retail and aerospace, and worked examples and regular exercises which illustrate how the inventory tools can be used in an operational setting. It is an invaluable reference guide for students and practitioners focusing on inventory management and operations management in manufacturing and retail, as well as operational staff involved in the implementation of the MRP and inventory management modules of ERP systems.

Better inventory management translates directly into better cash flow for businesses. However, in order to successfully manage inventory, businesses must strike a balance between customer demand and the amount of inventory they keep. Hands-On Inventory Management demonstrates principles key to developing an inventory management process, which will meet customer needs while keeping inventory costs at a level reasonable enough to produce a profit. The text explains basic inventory principles, calculations, and techniques using real-world examples. Different operational situations require different inventory planning and replenishment approaches; hence, this book emphasizes the prerequisites needed for success in a number of different industries. These prerequisites include top management support, a clear definition of responsibilities and alignment of goals throughout the company, as well as uncomplicated item identification. The author stresses the importance of accurate recordkeeping and delineates the most common causes of inaccurate records. He provides solutions to mitigate these causes and demonstrates how businesses can develop and administer a cycle counting program that will lead to a more well-managed physical inventory. Using a building-block approach, Hands-On Inventory Management gives a clear view of what steps must be taken to strike a profitable balance between customer demand and inventory.

The Practical, Easy-to-Use Guide to Lean Sigma Problem-Solving Lean Sigma delivers results–if you use the right tools and techniques. In Lean Sigma: A Practitioner’s Guide, Dr. Ian Wedgwood captures best-practice Lean Sigma experience from multiple projects and industries, helping any professional identify the solution that will work best–and implement it. Wedgwood’s exclusive "project roadmaps" present the fastest, most effective route to solving a wide range of problems–and explain why those solutions make sense. His "discovery roadmaps" help you identify potential Lean Sigma projects, even in processes where there are no obvious targets. Whether you’re a Green Belt, Black Belt, Master, Project Champion, Sponsor, Deployment Leader, or consultant, this book will help you use Lean Sigma to solve far more problems, far more rapidly, and far more effectively.

Historically, the integration of manufacturing methodologies into the office environment has proven to be problematic. Part of the difficulty lies in the fact that process workflows tend to be globally dispersed and thus rely heavily on information technology. But in complex service systems that contain a mix of employees, consultants, and technology, standardized protocols have been shown to reduce cycle time and transactional cost as well as improve quality. The successful application of Lean methodologies to improve process workflows is an efficient way to simplify operations and prevent mistakes. In Lean Six Sigma for the Office, Six Sigma guru James Martin presents proven modifications that can be deployed in offices, particularly those offices involved with global operations. Making use of Kaizen and Six Sigma concepts, along with Lean manufacturing principles, this book instructs managers on how they can improve operational efficiency and increase customer satisfaction. The author brings experience gleaned from his application of these methodologies in a myriad of industries to create a practical and hands-on reference for the office environment. Using a detailed sequence of activities, including over 140 figures and tables as well as checklists and evaluation tools, he demonstrates how to realize the rapid improvement of office operations, and how to eliminate unnecessary tasks through value stream mapping (VSM). The book also emphasizes the importance of strategic alignment of Kaizen events and the impact of organizational culture on process improvement activities. Latter chapters in the book discuss key elements of a change model in the context of transitional improvements as they relate to the process owner and local work team. By applying the proven principles found in this book, effective and sustainable organizational change can be accomplished, efficiency can be improved, and mistakes can be eliminated.

In 2000, Schragenheim and Dettmer published the ground-breaking Manufacturing at Warp Speed. At the time, the cutting-edge ideas expressed were the original work of the authors and not well-known beyond the book’s audience. In the years that followed, Dr. Eliyahu Goldratt, father of the Theory of Constraints (TOC), adopted their ideas, added his own valuable insights, and popularized them worldwide. Supply Chain Management at Warp Speed serves as the sequel that refines and updates the former approach to production management with new ideas that complement earlier tactics. The authors’ prime motivation for writing this book was to integrate the TOC method for managing the distribution of finished goods with the acquisition of raw materials and the manufacturing process. The result is the first book to describe, in detail, the application of the TOC approach to assured availability in distribution, for both original equipment manufacturers and retailers. "State-Of-The-Art" in Applying Theory of Constraints This cutting-edge reference broadens the scope of its predecessor by integrating manufacturing, distribution, and raw material management into a single end-to-end supply chain. It addresses the new demands taken on when a firm offers to handle rush orders. It also reviews the issues surrounding availability and the management of inventory moving through distribution systems. Fully illustrated, with numerous examples, case studies, and manufacturing scenarios, Supply Chain Management at Warp Speed provides TOC practitioners with the tools needed to address the performance issues of the entire supply chain and develop solutions that represent a win for the end-user as well as stakeholders along the entire supply chain.

Offering guidance on how to develop a lean and agile value chain, this unique volume provides a comprehensive framework for driving out costs, reducing lead-times, making flexibility improvements, eliminating non-value added activities, and growing market share and profitability.