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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