"Pitfalls of Inventory Management"  

 Recorded June 18, 2008  

King Harrison, King III Solutions

Link to recorded session

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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