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IQR provides a unique, powerful set of
analysis tools that provide a Best Practice for
inventory management. Its unique analysis tools are
superior to any that we have seen or worked with.
The IQR tools are widely used as a highly
cost-effective add-on to enterprise systems, providing
unique features, analyses, target setting and
productivity tools to generate a Best Practice inventory
management environment for its users.
PROACTION has used the IQR capabilities
to achieve quick improvement in the inventory
investments for a client. It is independent of any ERP
system, using connection tools during setup/installation
to extract inventory data from the base enterprise
system.
Benefits
·
Groups inventory
into management segments
·
Identifies best
actions for each segment
·
Lower inventory
without reducing service levels for production or
customers
·
Work “smarter” not
harder.
Typical Applications
- Situations where the IQR Inventory Analysis tools have
been provided benefit typically include:
·
Senior management
pressure to reduce inventory investment.
·
New managers in
operations, materials or finance
·
Cash flow problems
·
Inventory growing at
a faster rate than sales.
·
Lots of slow moving
or obsolete inventory
·
Poor morale,
discipline, and/or productivity
·
Prepare for
conversion to a new MRP/ERP system.
·
Management
objectives bonuses, or performance evaluations
·
Inventory valuation
for mergers/acquisitions, turnarounds, and sometimes,
Chapter 11s.
Typical assignments might contain these
elements:
·
Initial
qualification and operations assessments
·
Inventory reduction
seminar
·
Inventory analysis
of reduction potential
·
System
installation/setup
·
Implementation and
user training
·
Follow up monitoring
and coaching
Inventory Reduction and Management
Best Practices – Free White Papers:
Improving Inventory Performance and Bottom-Line Profits” (by Gary Gossard, PE) -- This
excellent article shows how systematic stratification
and classification of inventory, with accompanying
management actions, can dramatically improve performance
of a company’s inventory investment. Originally
published in Evolving Enterprise magazine.
A Best Practice for Inventory Reduction (by Gary
Gossard, PE) (Presented at APICS 45th International
Conference & Exposition) -- Achieving a Best Practice
starts with a clear understanding of what it is. This
article clarifies exactly what an inventory reduction
Best Practice is, summarizes the 10 most widely used
reduction practices, and summaries the Inventory Quality
Ratio Logic. The article includes 3 Case summaries where
major inventory reductions were achieved using these
methods. Essential reading for those interesting in
achieving improved inventory performance, no matter how
many turns you are getting now!
Aggregate Inventory Management
(by George Miller) -- How to manage overall
inventory levels, fit them to your business strategy,
and track them.
Inventory Reduction
(by
George Miller) -- You would think that contemporary
systems and practices would automatically reduce
inventory. Ain't necessarily so! Find out why, and what
to do about it to start reducing inventory now!
Learn More -
To learn how you can put the
Best Practice of the Inventory Quality Ratio into use at
your business, just contact us:
Phone: (818) 706-0160
Note: You
need to type the e-mail address manually as we are no longer
leaving active
e-mail hyperlinks on our website in an attempt to reduce
the amount of spam
we receive daily. Thank you for your understanding.
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