Five Things You Can Do This Week to Reduce Inventory: Part III

Where were we? I’ve already shared the first two steps you can take to reduce inventory: set a goal, and develop a safety stock strategy.

My third tip will relate to forecast accuracy—always a hot topic of discussion.

You’re not going to make any lasting headway on inventory reduction unless you can get your sales forecasts under control. Most companies expect the forecast to run…

Five Things You Can Do This Week to Reduce Inventory: Part II

In my last blog post, I mentioned that I’d be sharing five steps you can take to start reducing your inventory as soon as this week. As promised, today’s post will continue the series.

If you read my first post and took my advice, you’ve already set a goal for inventory reduction. That wasn’t so hard, was it?

So, what comes next?

Well, now that you've committed to reducing…

Five Things You Can Do This Week to Reduce Inventory: Part I

Want to reduce your inventory? Well, you’ve got customer service levels to think about first. And the best inventory reductions are done in a targeted, highly strategic fashion—not blindly and across-the-board.

But all things being equal, your answer to my question is surely “yes.” In fact, practically any supply chain professional—not to mention, CFO—would jump at the chance to reduce their…

A Real-Life Supply Chain Planning Lesson Unfolds at Restoration Hardware

When you buy a new piece of furniture online, how long do you normally wait for delivery? I am not talking about one with custom fabric or a special order.

I’m guessing you’d be pretty thrilled to see your furniture arrive in less than one week. But you probably wouldn’t complain too much if it took somewhere between one and two weeks.

OK, what if your furniture provider’s website…

Revenues Sagging? Here's How to Thrive in 2016

I have the opportunity to travel the world with my job, and this has provided me with firsthand experience of the challenges facing many or our customers and prospects. I don’t know about you, but I’m not feeling great about the global economy right now.

For starters, plummeting oil prices may be a good thing for you and me at the pump, but they’re terrible for the many nations…