Systems transactions are often treated as an afterthought but are critical to building a stable foundation for your business. As mundane as system transactions seem, I continually find that whether or not they are deemed a priority can make the difference between a successful operation or not. The bottom [...]
Though reducing inventory is generally advisable special situations arise when stocking inventory makes good business sense. Certainly reducing inventory on hand is typically preferred as you can accelerate your cash flow. It is one of the key focus areas of my consulting practice. I have found that reducing inventory [...]
Inventory accuracy depends on so many moving parts. But a top-to-bottom understanding of the process combined with speedy adjustment responses would dramatically improve accuracy, thus, boosting business results. How many times have we heard this? Or, perhaps your inventory resource will keep looking until he/she finds it; however, it [...]
Inventory management relies on fundamentals like cycle counting to catch discrepancies. But it has to be coupled with a focus on process disciplines or you’ll end up reliving the same problems every day. I've started working with one of my clients on a cycle count program, and so I'm [...]
Completing a physical inventory is a necessary part of inventory management because accuracy doesn’t just happen, it needs to be achieved. Inventory accuracy is cornerstone to success. It is a bedrock topic to improving service levels, reducing lead times, increasing margins, improving efficiencies, reducing inventory levels….and the list goes [...]
Published in "The ACA Group" website, March, 2011 As we are emerging from the recession, we are by no means returning to the high growth days of the past. Instead, the new normal is here to stay - slow growth for those who stay ahead of the curve, tight [...]
In today's economic and business environment, cash is king. The critical importance of cash in businesses continues to rise. One just has to read the news to see cash highlighted on a daily basis in relation to several high profile companies - GM, Chrysler, MGM Mirage, GE Capital etc. [...]
Businesses continue to cut back as the economy continues to worsen - seemingly every day. Cutting costs in a reasonable and smart manner is required; however, cost cutting alone rarely achieves success. As one of my mentors used to say, the best problem to have is a cost problem [...]
