If you supervise a warehouse, you understand that effective oversight is more complicated than one might guess. However, successful integrated inventory management can be broken down into two simple building blocks: a thorough understanding of basic inventory management procedures and a disciplined application of quality practices.
The Basic Elements
The following is a list of the standard elements of an effective integrated inventory management model:
- Usage and inventory data
- Inventory prioritization
- Excess inventory
- Inventory and turnover goals
- Bill of materials for equipment
- Stocking parameters
- Obsolete material
- Baseline data profile
- Cycle counting
- Action plans
- Monthly review of results
From this overview, you should be able to get a good sense of the process and the efforts involved. If your business has reasonable control over your MRO inventory, this method can be highly effective in your warehouse.
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