Inventory Management Consulting Services.
In a nutshell.
I evaluate processes, systems, calculations, and inputs related to determining when to order/produce, how much to order/produce, and where the materials are needed. Though not absolutely necessary, I do recommend prospective clients first check out my book on Inventory Management.. It will give you a very clear understanding of my approach and also provide the foundation for the services I provide related to Inventory Management.
- Safety stock calculations.
- Forecast methods and forecast consumption rules.
- Lot sizing decisions including quantity discount calculations.
- Analysis of bills-of-materials, routings, and order policies for MRP systems.
- Facility relationships and order policies for DRP systems.
- Outside operations.
- Vendor managed inventory.
- Transactional methods including backflushing.
- Scrap reporting.
- Non-stock materials.
- Excess and obsolete inventory.
Managing inventory isn't simple, yet so many businesses hinder themselves by using overly simplistic methods in attempting to manage theirs. Calculations for safety stock are the best example of this (and one of my most requested services). Safety stock is an incredibly important part of managing inventory, and there are effective ways of calculating it. While the calculations can get complicated, they are very workable once you get started in the right direction. That's where I come in .
I analyze the characteristics of your specific business; including demand patterns, variability, lead times, order cycles, costs, and any special requirements you may have, to determine practical methods for managing your inventory. Methods and calculations used for managing inventory need to be adaptable to changing business needs. So while a key part of my services is putting together calculations customized to the client’s needs, the more important part of this process is educating the client on the logic behind these calculations so they can continue to refine and adapt them over time. In most cases, I present the calculations in excel worksheets using your data so you can clearly see how they work.
The calculations for forecasts, safety stock, and order quantities are only part of the picture though. Everything needs to work together in this thing we call an “Inventory System”. This is where my knowledge of functionality such as MRP, DRP, planned orders, forecast consumption rules, allocations, lead times, safety lead times, period order quantities, etc. can help in making sure you understand how to utilize the functionality of your “system” to meet your objectives.
My focus on practical solutions means my recommendations will be something you can actually understand and implement.
This service works well through E-consulting.