Download “Four Strategies for Smarter Inventory Control” Ebook
See what other Canadian manufacturers are doing to free up capital and
reduce expenses by implementing these 4 smart inventory control
Inventory is a major investment for many businesses and reducing
inventory costs is critical in today’s leaner manufacturing environment.
Lowering inventory levels without a plan, however, is a recipe for disaster.
It’s likely to increase the incidence of shortages, reduce customer
satisfaction, increase order expediting, and negatively impact operating
Here are four inventory strategies that are used by companies who are
experts at managing inventory in a cost-effective manner.
Review these 4 strategies against your current inventory management
issues to determine which underlying strategy will help you the most.
Focus on applying that strategy to your inventory management processes
until most of your relevant inventory issues are resolved, and then repeat
with the next most applicable strategy.
These strategies can be used in your business to:
#1. Avoid stock-outs (and resulting revenue loss) by maintaining accurate
transaction records. This improves stock level accuracy and increases
customer satisfaction and sales revenues.
#2: Optimize inventory levels by implementing a continuous improvement
plan which will also decrease variability and reduce warehouse overhead
#3: Increase inventory turns by reducing lead times and lot sizes.
#4: Increase demand forecasting accuracy by implementing proactive
inventory replenishment planning, reducing costs by purchasing only
what is needed to meet demand.
Aqurus Solutions believes inventory management is so critical to your business that our founder, Murray Quibell, has produced an online webinar where he discusses and demonstrates the strategies in the Ebook “Four Strategies for Smarter Inventory Control” and provides real-world examples of how they can be applied to your business. This webinar is a free bonus with the Ebook download.
Access Webinar at: