"Pitfalls of Inventory Management"

King Harrison, King III Solutions

Effectively managing your single largest asset - inventory - can be a series of ongoing challenges. In this webcast, inventory management and replenishment expert King Harrison shared his thoughts about inventory management pitfalls by discussing different scenarios and how to address them.

Does your replenishment system forecast based upon sales or customer demand? Does it matter?
Does your replenishment system over react to one spike in demand? Can it be filtered out? Should it be?
Are lead times based upon the supplier's quote or calculated from actual receipts?
Are you carrying too much safety stock for your best selling products? How about your worst selling products?
Do your buyers have tools to help determine the optimum order frequency? Or do they spend time reviewing all lines daily, or setting up fixed intervals for review?
Can they easily replenish seasonal products coming into a season, and understand how to "slow down" before the season ends?
Do they spend minutes a day or hours a day developing purchase orders?
Are your buyers taking advantage of deals offered from your suppliers? Or is that a manual process and you hope it is being looked at?

About the speaker With over 30 years of inventory management experience, King Harrison has developed the state-of-art inventory replenishment application K3S-Replenish®-Purchasing and K3S-Replenish®-Store Level to provide solutions for retail and distribution companies across North America. For more information about King and K3S Solutions, visit www.k3s.com or call 770-971-3969.

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