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How to reduce inventory and improve customer service?
Optimizing inventory was one of the biggest challenges in my (professional) life, from intern to SCM director ️️:
Enough stock to make my customers happy
But not too much, to leave enough cash flow for my CFO
Finding the right balance between inventory, service and costs is one of my favorite games.
Here are my 11 inventory reduction strategies:
00:00 Introduction
01:00 Having the right KPIs
01:37 20/80 Focusing
02:03 Clean SLOB (slow and outdated)
04:11 Accept shortages
05:14 Reduce the number of products
06:55 Improve (or implement) your forecast
08:00 Lower your MOQ
08:57 Mitigating uncertainty (demand & suppliers)
09:57 Shorten and stabilize lead times
10:55 Centralize inventory
12:31 Automate
Here's my action plan: Watch this tutorial, choose one of these solutions and start optimizing your inventory and service TODAY
Trust me, it's not that complicated. We have to keep it simple and take it step by step.
Let me know in the comments what the quickest and easiest solution is to optimize your inventory.
Edouard
MY BLOG: https://abcsupplychain.com
#supplychain #inventory management #inventory optimization
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