Just-in-time in the Real World of Inventory Management

Unleashed

Just-in-time inventory (JIT) is the antithesis of just-in-case inventory and can be a valuable method of reducing waste and streamlining the supply chain. The benefits of JIT inventory are numerous, although they can only be realised with hard work to set up an intricate system involving many synchronised components. This tech giant has made giant-sized steps in the direction of lean manufacturing and JIT inventory.

Will This COVID-19 Pandemic Change Supply Chains Forever?

Talking Logistics

Guest Commentary Guest Commentary - Transplace Transportation Management business continuity C-suite COVID-19 inventory management just-in-time logistics partnerships TMS Transplace

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Success Stories of Just-in-Time Inventory

Unleashed

Just-in-time (JIT) manufacturing has been revolutionary for manufacturing and inventory management companies around the globe. Essentially, when inventory is required, it is delivered. The JIT approach differs from other inventory systems, where warehouses build up piles of inventory weeks or months in advance, waiting to be used until there is a demand for that product.

Just in Time: Predictive Lead Time to the Rescue

Demand Solutions

Remember when you didn’t care how long your lead time was, as long as it was consistent? It wouldn’t have been such a bad system, except that lead times are never consistent. So companies like yours began maintaining a safety stock, “just in case.”

ThroughPut Inc. Appoints World-Renowned Just-in-Time, Lean & Kaizen Expert Mr. Takao Sakai to Executive Advisory Board

ThroughPut

the Artificial Intelligence (AI) Supply Chain pioneer that enables companies to detect, prioritize and alleviate dynamic operational bottlenecks just-in-time today announced the appointment of global lean & Just-In-Time expert, Mr. Takao Sakai, to the Executive Advisory Board. His family is responsible for inventing the renowned “Just-In-Time” philosophy that is commonplace across all leading supply chain operations today.

Visibility, Analytics & Intelligence: Get full transparency on your supply chain, not just in times of crisis!

SupplyOn

SupplyOn Analytics links internal and external information – thus ensuring visibility and a robust, crisis-proof supply chain Planning, purchasing, logistics and transport management are traditionally separate processes, typically located in different departments. The suppliers operate in their own systems, as does the transport service provider. What, when, in what quantity and at what time is to be delivered usually remains unclear until goods receipt.

Will Trucking Challenges Transform JITS in North America?

QAD

As the trucking industry experiences rising industry change, just-in-time-sequence (JITS) supply chains are starting to feel the effects. In this article, we will take a closer look at these industry challenges and discuss the current and potential impacts on JITS.

Why JIT Isn’t to Blame for Broken Supply Chains

Unleashed

Many are quick to blame just-in-time (JIT) manufacturing for their lack of components and raw materials. We’ll take a closer look at: Pull inventory systems. The just-in-time system and its underlying principles. Pull inventory systems.

Is Your Supply Chain Customer-Centric?

DynaSys

Successful salespeople tend to sign contracts without worrying about the logistical aspects affected by the conditions of the contract, which is a thorn in the foot for logistics who must comply with the terms of the contract. You have probably had a similar experience to this in your company.

Consumer Products Supply Chain Disruptor: 3D Printing

DynaSys

This technology will help companies reduce costs in almost all areas of business, improve customer service and help gain a competitive advantage by being adaptable to market changes. In fact, I believe we don’t even know what the full impact of the technology can and will be in the future.

VMI system goes live at Fokker Aerostructures

Supply Chain Movement

VIBA Aerospace Products and Services in the Netherlands and Peerless Aerospace Fastener Corporation, a distributor of aerospace fasteners based in Farmingdale (NY), went live with their Vendor Managed Inventory (VMI) of special fasteners at Fokker Aerostructures covering several programs.

System 101

Lean Manufacturing Driven by Rapid Return on eKanban Technology Investment

synchrono

Through the use of supplier quality certifications and blanket (long-term) purchase orders, a manufacturer can accurately and effectively calculate the optimal level of inventory needed to fulfill demand requirements through the duration of replenishment lead time.

Lean 66

Creating Trust Throughout the Supply Chain Using Demand-Driven Methods

synchrono

Building trust in the supply chain is essential to driving flow; and when there are forecast errors, there is an inherent mistrust throughout the supply chain. The manufacturer contends the supplier did not acknowledge the material purchase orders, or ship on-time as promised.

Inventory Management in Service Logistics Industry

Talking Logistics

What is Inventory Management? The answer varies from function to function in the supply chain. For Sales it’s about product availability at all times. For Manufacturing it’s about carrying zero or minimum inventory. What does it mean for inventory?

Metrics that Matter: Inventory Effectiveness

QAD

The effective use of a manufacturer’s inventory investment is an important determinant of the company’s success. Excess and obsolete inventory is a drain on resources, as is excessive safety stock. Managing an Inventory Investment. Best Practices for Inventory Effectiveness.

What is Inventory Carrying Cost?

EMERGE App

After all, this is a business expense that you need to pay upfront in order to bring goods to your warehouse and stock them up. But while the newly arrived goods sit in your warehouse, did you know that there are also costs associated with keeping inventory? In-transit Stock.

Calculating Finished Goods Inventory

EMERGE App

As a manufacturer of goods, you’re likely to have finished goods inventory in your business. In addition to worrying about sales forecasts and production schedules, there’s also the issue of properly calculating finished inventory for reporting and decision-making purposes.

The Benefits of Evolved Vendor Managed Inventory Model Led by Web-Based VMI

Cerasis

So why do we feature content related to Vendor Managed Inventory? In a VMI model, part of the equation is the inbound & outbound flow of the inventory. Inventory is then put on pallets and shipped as freight. ” Vendor Managed Inventory Model: A Quick Back Story.

Medicine's Inventory Nightmare

Elementum

In a recent survey, 40 percent of surgeons admitted to having cancelled a case due to a lack of available supplies. What inefficiencies need to be addressed in the healthcare supply chain to make sure this kind of thing doesn’t happen? In the pharmaceutical industry, supply chain disruptions can mean the difference between life and death for patients whose survival depends on consistent, timely access to the right medications and medical supplies.

Medicine's Inventory Nightmare

Elementum

In a recent survey, 40 percent of surgeons admitted to having cancelled a case due to a lack of available supplies. What inefficiencies need to be addressed in the healthcare supply chain to make sure this kind of thing doesn’t happen? In the pharmaceutical industry, supply chain disruptions can mean the difference between life and death for patients whose survival depends on consistent, timely access to the right medications and medical supplies.

Don’t Take a Holiday from Inventory Management

Talking Logistics

The Importance of Inventory Management. When it comes to inventory management, new trends are demonstrating that less is more. Having less inventory on-hand increases liquidation, allowing for a more agile response to shifting consumer trends. Companies that have too much inventory on-hand right now are struggling to clear out space ahead of the season, slashing prices and concerning stakeholders as profit margins creep downward.

5 ways ERP improves inventory visibility in your supply chain

OptiProERP

Inventory visibility is one of the critical aspects of any manufacturing business. It helps organizations understand how much inventory is available, at what location , and at any given point of time. What Improved Inventory Visibility does. Inventory ties up money.

Inventory Management Techniques That You Need to Know About

EMERGE App

Not Another List of Inventory Management Techniques. I want to start by saying that this is not an exhaustive list of all the possible inventory management techniques available for all industries. So you won’t find a customary listing of the Last-In, First-Out method.

What are the 3 Decision Rules for Inventory Control?

Unleashed

Effective inventory control is a process. It involves many areas of an organisation and is a delicate balance between the three categories of inventory costs. As one of a business’ greatest assets, inventory is also the cause one of the hardest decisions manufacturers, retailers and eCommerce businesses have to make. Therefore, it is important to establish a set of guidelines to improve inventory decisions and optimise inventory control.

5 Reasons You Need Modern Inventory Solutions for Optimum Inventory Control

Unleashed

When deciding where to prioritise budget spend for greatest return on investment, companies have difficult decisions to make and while inventory control continues to be fundamentally impacted by innovation, it is often overlooked when the time comes to allocate funds. When inventory control is approached as a cashflow measure, the financial impact of excess stock, slow-moving SKUs, stock-outs and obsolete or dead stock, provides a new perspective. Real time inventory.

The 3 Guiding Factors For Decision Rules To Greater Inventory Control

Unleashed

Implementing an effective inventory control and planning solution or system is only the first step in optimising your inventory management. Another vital component of this process is the set of rules you establish to speed up inventory control and make it more effective.

Can Your Inventory Control System Support Seasonal Demand?

LeanCor

Halloween/All Saints Day/Dia de los Muertos is just around the corner! Just like around Christmas and Easter, there are seasonal products in consumer markets that require a specific time to arrive at our doors – not earlier, not later. Just in time.

System 203

Real-Time Inventory Management: 5 Ways Advanced Computer Analytics Will Transform Traditional Inventory Management

Cerasis

Manufacturers have always struggled to obtain the most accurate inventory levels possible. While an out-of-stock issue may seem minor, it could result in the loss of multiple-item orders, especially among e-commerce shoppers. In fact, up to 52 percent of e-commerce shoppers abandon their carts when they learn one product they want is out-of-stock. Meanwhile, failure to notify consumers about out-of-stock items during purchase could result in the permanent loss of a customer.

5 Ways to Reduce Your Inventory the Right Way

EMERGE App

It is this time between purchasing stock and re-selling them that is critical for these businesses. Conversely, hold too little stock and your customers will see long lead times on their purchases. Here, we’ll start by covering what reducing your inventory means.

Vendor Managed Inventory (VMI) – Visibility is the Key

TPSynergy

VMI (Vendor Managed Inventory) is the one of the best Inventory Management tools that will reduce the inventory carrying cost. By making your suppliers carry the inventory on behalf of you, you are reducing the risks and costs of inventory obsolescence. In VMI process, the supplier is expected to carry the inventory and make it available as and when it is needed. Customer pays only the for the inventory they have pulled or consumed.

What is Inventory Management?

EMERGE App

What is Inventory Management? Inventory management, in a nutshell, describes your efforts to manage, assess and report on the flow of your stock of goods. You might be using pencil-and-paper, spreadsheets or sophisticated inventory management software to do this.

How Artificial Intelligence and Global Economic Factors Affect Inventory Optimization

ThroughPut

Through the targeted use of Artificial Intelligence (AI), Machine Learning and other technologies, leading global innovators are constantly trying to enhance the effectiveness of their inventory management. Slowing Economic Growth: A slow economy inevitably leads to slumps in sales.

High Inventory Levels: Overcoming the Challenge

EazyStock

High Inventory Levels: A Problem for Everyone. Small- and mid-sized businesses (SMBs) often ignore high inventory levels. Either they don’t have enough time or human resources to address the challenge or they don’t have the right tools for the job.

Six Sigma Tools and Inventory Management

EMERGE App

Growing up in the 1990s, you might have heard the term “Six Sigma” at the dinner table or in the news. In reality, Six Sigma aims to keep product variation and thus defects to a minimum. In 2005 Motorola credited over US$17 billion in savings to Six Sigma alone.

Inventory Management Uncertainty? You’re Not The Only One

Unleashed

If you’re trying to get on top of your inventory management, but struggle with the many unknowns involved with inventory control, you’re not alone. Not only can this take up time, but it becomes harder to let employees manage aspects of inventory control.