Lean Inventory: Using Lean Initiatives To Manage Inventory

Cerasis

What is Lean Inventory Management? More firms are implementing lean inventory management techniques to reduce costs, improve flexibility and have more time to focus on their customers. Lean supply chain and inventory management enable Small Medium Businesses (SMB) to improve efficiency and increase profits. What is Lean Inventory Management? Pull (Lean principle: Kanban) : Move inventory only when requested by customer.

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9 Steps to Establish the Lean Supply Chain: A System of Interconnected & Interdependent Partners

Cerasis

Top management knows that lean can add value , but many still haven’t moved past the initial education stage into full-scale lean supply chain implementation. One reason may be that they haven’t made the paradigm shift as to how to implement lean. The Lean Supply Chain is a system of interconnected and interdependent partners that operate in unison to accomplish supply chain objectives. This sets the supply chain pace.

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How to Sustain a Lean Culture in Manufacturing & Supply Chain

Cerasis

Today I will discuss how a company can sustain a lean culture once they have implemented lean practices in order to achieve continuous improvement. Your company has started the lean journey, but how do you sustain it? Let's first talk about first setting the stage, then give you practical practices and tactics to achieve a sustainable lean culture, and then provide core key performance indicators (KPIs) to track your progress. Lean Culture by Creating "Standard Work".

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Supply Chain Leaders Rearranging Deck Chairs? Yes, I Think So.

Supply Chain Shaman

After finishing the Supply Chains to Admire report and the Youtube series (to be released this week), this is my feeling. What Is Supply Chain Excellence? The seven years of work on the Supply Chains to Admire is part of my quest to answer Keith’s question.

When is Inventory Too “Lean”? Finding the Right Balance

ToolsGroup

I learned about “lean manufacturing” (or simply “lean”) back in the 1990s when I met James Womack and read his book “ The Machine that Changed the World ”. Based on MIT's five-year, fourteen-country study – one of the largest and most thorough ever undertaken -- the book describes the entire managerial system of lean production. In the last twenty plus years “lean thinking” has fundamentally changed the way many companies, and sometimes whole industries, operate.

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Applying Lean 6 Sigma Principles to the Supply Chain

Logility

Fifteen years ago, I worked for a company that embraced Lean 6 Sigma as a core operating fundamental. Just about every member of the management team was a Lean 6 Sigma Black Belt and many had attained a level of Master Black Belt. Shortly after joining the company I underwent an intensive Lean 6 Sigma training program and completed my Lean 6 Sigma Black Belt certification. Today, Lean is a concept, a philosophy, a practice and a set of tools all wrapped in one.

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The Value of Lean Supply Chain Management

LeanCor

Lean Supply Chain Management. Companies are beginning to understand the volatility and risk associated changes within the supply chain. Lean supply chain looks to reduce waste and inventory levels so that the volatility and risk is minimized with shorter lead time(s). The bull whip affect occurs when a change happens further up the supply chain but doesn’t immediately impact partners down stream due to the length of lead times.

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Lean Manufacturing

LeanCor

As a result, warehoused inventory increased from one to seven warehouses due to lack of a defined inventory and replenishment strategy. Recognizing a need to extend its lean manufacturing program in o rder to tackle problem areas in the warehouse, the motor company partnered with LeanCor to optimize material flow and reduce production time losses due to parts shortages. Additionally, right sizing of the inventory strategy allowed for anticipated production growth.

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Do Lean and Six Sigma have a place in tomorrow’s supply chain?

The Network Effect

Before I answer the title question, let’s have a quick refresher on what exactly Lean and Six Sigma are. Lean , on the other hand, analyzes process flow and related outputs, including waste. Core events within a lean program are Kaizens, which are focused, high energy, cross functional design sessions whose goal is to create standardized solutions which can then be implemented in a step wise fashion. The term most commonly used today is “Lean Six Sigma”.

Lean Warehousing

LeanCor

Lean Warehousing – From Paradox to Operational Excellence. A conversation and exclusive interview with Tonya Vinas, B2B writer and editor, and Robert Martichenko, CEO, LeanCor Supply Chain Group. Before we start talking about Lean Warehousing, can you tell us a little bit about LeanCor Supply Chain Group? Sure, LeanCor is a trusted supply chain partner that delivers operational improvement and measurable financial results.

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Applying Lean Principles to Supply Chain Planning

Logility

Today, Lean is a concept, a philosophy, a practice, and a set of tools all wrapped in one. For more than 50 years, organizations have invested time and money adopting the principles of Lean (while originated at Toyota Corporation for manufacturing operations, the principles of Lean have since spread to many types of businesses and functional areas). The two primary principles of Lean, Just in Time and Jidoka, are referred to as the pillars of the lean philosophy.

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Lean Supply Chain: The Culture That Must Be Fully Embraced

LeanCor

By: David Sherman – Lean Logistics Specialist. By maintaining lean practices and instilling lean cultures into their employees and work environment firms are able to realize this success. These lean practices and cultures lead to firms transforming their habits based on customer demand rather than by supplier constraints. What is the lean supply chain? How does the lean supply chain function?

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Lean Transportation: Are you Using Lean Thinking for Transportation Management? If not, Why?

Cerasis

Lean is a new way of doing business. For shippers, culture and behavior have to change to apply Lean Transportation thinking. Lean thinking focuses on the elimination of all waste (where waste is defined as any non-value added process) and bringing value to the customer , beyond the customer’s expectations. The “Them (company leadership) versus Us (shop floor associates)” mentality also needs to change for Lean Transportation to " WE.

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Lean Culture

LeanCor

Building a Lean Culture: A Food and Beverage Case Study. These are companies that embrace lean and recognize that the organization is only as good as its people. Including everyone in a cultural transformation will enable the success of a lean deployment. Cultural improvements will occur when lean is embraced from the team members working on the floor to the highest level in the organization. Lean Culture Future State: Analysis, Tools, Solutions.

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Understanding Lean and the 8 Wastes

The Logistics of Logistics

Understanding lean and the 8 wastes is important for all operations people including logistics and supply chain folks. The concept of lean (and the 8 wastes) originated in the manufacturing sector where it was first recognized that eliminating waste in the system led to much bigger profits. Henry Ford and his team at Ford Motor Company discovered lean along with the assembly line, even though they didn’t necessarily use the term lean.

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Vendor Managed Inventory Model for Supply Chain Cost Reductions

Cerasis

As a supply chain director, manager, or boss of a multinational corporation, where the supply chain is an integral part of your business, supply chain cost reductions are always at the forefront of your team’s mind. You can employ countless number of supply chain service providers who will help realized these cost reductions throughout the entire supply chain. The distributor maintains the inventory plan.

The State of Supply Chain Trends Part II: AI, Procurement, & the New Lean

Cerasis

Understanding how different factors affect the supply chain remains a top priority for research firms around the globe. From artificial intelligence to refocusing on procurement, the state of supply chain continued to explode throughout 2016, and you need to understand why. The State of Supply Chain 2016 Trends. Additionally, the push toward creating a self-sufficient AI is growing stronger among supply chain professionals. Supply Chain

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Supply Chain Shifts From Lean Model

AB&R

The last few months have put the supply chain to the test. With the supply chain’s lean model, many retailers were not able to respond to the sudden changes in demand. ” As new warehouses are developed and supply is increased, having visibility into what inventory and assets companies have, and where they are located will become even more vital. The post Supply Chain Shifts From Lean Model appeared first on AB&R.

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What are the best Supply Chain Strategies for 2021

ivalua

Supply Chain Strategies: What the Pandemic Has Taught Us So Far? Many nations are now facing the prospect of new lockdowns which will undoubtedly further impact global supply chains. . Supply Chain Risk Management on the World Stage – Lessons Learned.

Lean Manufacturing: Is it Really Worth It? 16 Big Benefits Say, “Yes.”

Cerasis

Lean systems have provided a formidable operating strategy for leaders determined to achieve and maintain optimal operational systems and customer satisfaction levels. There are multiple good models for lean manufacturing operations. Who Needs Lean Manufacturing? A company in need of lean manufacturing practices tends to be easy to identify, typically displaying multiple of the following symptoms of operational deficiency: Inventory amasses in buffer stocks.

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Using Lean to Manage Inventory!

Supply Chain Game Changer

Check out A “Don’t Touch” Strategy will Dramatically Lean out your Supply Chain! What is Lean Inventory Management? More firms are implementing lean inventory management techniques to reduce costs, improve flexibility and have more time to focus on their customers. Lean supply chain and inventory management enable Small Medium Businesses (SMB) to improve efficiency and increase profits.

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The Power of Collaboration within the Lean Supply Chain

LeanCor

By: David Sherman – Manager, Lean Supply Chain Operations. The lean supply chain consists of many moving parts, multiple processes, and countless people. To ensure that each part of the supply chain is functioning properly, each party must utilize high levels of collaboration across all aspects of the organizations. Supply chain collaboration can be effective for all parties involved if approached properly.

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Supply Chain 2030: Forge a New Path

Supply Chain Shaman

The Supply Chain Insights Global Summit is over, but we hope the energy to define Supply Chain 2030 is just beginning. Today only 12% of supply chain teams are driving improvement, performing better than their competitors and driving value (as determined by Price to Tangible Book Value). As companies prepare for Supply Chain 2030, we think that it is time to rethink the basics. Seven Predictions for Supply Chain 2030.

Lean Manufacturing

LeanCor

A Systems Approach to Inventory Management. Inventory Management. Lean principles focus on eliminating waste from business processes. Inventory is not isolated to raw materials and finished goods. Companies will carry inventory masquerading as service parts, repair items, administrative suppliers, automobile fleets, and a host of other types of assets that are managed by setting and maintaining certain levels. Inventory Management Processes.

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Lean versus EOQ? What’s best for your organization?

Kinaxis

In no time at all we were debating between lean versus EOQ. EOQ attempts to optimize lot size by balancing manufacturing cost ( Fixed + variable costs) with things like inventory holding costs and capacity utilization. Lean relies on minimization of, among other things, lot sizes, inventory and waiting. Master schedulers can manipulate the planning parameters to create lean or EOQ optimized schedules, but how do you decide which way is right for your organization?

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Lean Six Sigma

LeanCor

What is Lean Six Sigma Logistics? Lean Six Sigma is the combination of two methodologies that complement one another when applied to logistics and supply chain management. Lean Six Sigma Logistics: Lean and the Logistician. The impact of Lean on the logistician is significant. A common misconception of Lean philosophy is that it only finds application in manufacturing settings. Lean Six Sigma Logistics: Six Sigma and the Logistician.

5 Reasons Why You Need to Stick with Lean Manufacturing Principles

USC Consulting Group

One of the most successful and widely utilized in the manufacturing sector is just-in-time inventory. Since manufacturers kept their own supply levels low and couldn’t ramp up production due to social distancing measures, stockers could barely keep up with the pace of demand.

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Lean Thinking Revisited

Operations and Supply Chain Management

The supply chains for consumer goods in the U.S. The sputtering supply chains are putting a new spotlight on the just-in-time strategy born in the hyperefficient Japanese automotive industry that became a religion for many American executives.

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Lean Principles and Sales & Operations Planning (S&OP)

Logility

Many companies have high hopes when they set out to establish a Lean operating environment. A growing body of knowledge and experience indicates that advanced Sales & Operations Planning (S&OP) may be the key ingredient for Lean success. Lean applied to supply chain operations is all about creating capabilities that efficiently move materials from raw through finished product, and then to the customer.

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Marketing Supply Chain Solutions Post-COVID: Q&A with ToolsGroup CMO Caroline Proctor

ToolsGroup

There’s still a strong demand for supply chain planning solutions, particularly ones with machine learning capabilities that can help clients rapidly adapt to the changing supplier situations and consumer demand that goes along with major disruptions like this. .

Warehouse Cost Reductions: 3 Understandings Driven By Inventory Management & Lean Principles

Cerasis

Today, I will now address how a focus on inventory will allow for warehouse cost reductions as well. A Focus on Inventory Control Begets Warehouse Cost Reductions. First, look at inventory as MONEY/CASH. Inventory cost is defined as the cost of holding goods in stock. If you are looking for warehouse cost reductions, chances are you are stocking too much inventory. Understand Data Integrity to Reduce Inventory Costs. Lean is a new way of doing business.

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Seven Misconceptions on Managing Inventory in a Market-Driven World

Supply Chain Shaman

When it comes to the management of inventory in value chains, frustration abounds. Executive, after executive, lament, “They have purchased many technologies and sponsored many projects to reduce inventories, but they are not seeing results.” ” I have been studying the evolution of inventory technologies as an industry analyst since 2002. The supply chain is a complex system with increasing complexity. The Inventory Management Journey.

4 Supply Chain Areas to Examine in the Face of Disruption

QAD

Global supply chain leaders have broad and continuous experience in expecting the unexpected. How do Disruptive Events Impact the Supply Chain? The supply chain impact resulting from coronavirus varies heavily depending on the industry. These are just a few examples of how a crisis may increase or decrease demand for particular products resulting in supply chains being impacted. . Boost Global Supply Chain Visibility.

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26 Best Practices in Lean Warehousing

LeanCor

Many people may think the term “lean warehousing” is an oxymoron. Let’s face it, most lean purists believe that all transportation and warehousing functions are pure waste. The fact is, particularly with the growth of the global supply chain and extended lead times, lean warehousing is necessary and plays a critical role and must be integrated into the entire supply chain. 2, or tactical lean warehousing. Are you practicing lean warehousing?

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Leaning Towards S&OP/ IBP

Logility

Many companies have high hopes when they set out to implement a Lean improvement program. A growing body of knowledge and experience indicates that Integrated Business Planning (IBP) may be the key ingredient for lean success. Lean is all about creating a physical environment that enables material to flow efficiently from raw through finished product to the customer. The perfect enabler for Lean success is called Integrated Business Planning.

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