How to Reduce Inventory Levels to Increase Your Bottom Line
1 hour 30 minutes
Learn how to define, assess, prioritize, and implement inventory targets and policies.
Inventory and supply chain managers are often tasked with reducing inventory levels while maintaining high (or higher) levels of customer service. With these seemingly opposed and competing dynamics, inventory managers struggle to find ways to place the right inventory at the right place, at the right time at the lowest cost, while also balancing their planner’s time, effort, and focus. This topic will focus on how to define, assess, prioritize, and implement inventory targets and policies using an inventory segmentation model. It will also discuss how to both track performance to inventory targets and how to identify and implement additional improvements via an Inventory Health metric.
• You will be able to define ways to use an inventory segmentation model to drive inventory planning and performance improvement.
• You will be able to describe the financial benefits of reducing inventory.
• You will be able to explain common inventory target calculations.
• You will be able to identify inventory improvement opportunities using an inventory health metric.