Subject Area: Consignment Inventory Many years ago I developed an approach to inventory optimization that I called The Inventory Cash Release Process (ICR). At the heart of that technique is the 7 Actions for Inventory Reduction. These ‘7 Actions’ were developed by challenging the constraints that are inherent in most thinking related to inventory optimization. […]
The Complete Guide to Asset Recovery
The identification and removal of surplus, excess, or obsolete inventory can be a major headache for most companies. So much so that it often seems easier to ignore than to do something. But that approach can’t last forever as this ‘zombie’ inventory is a drain on the balance sheet and eventually people do notice. Dealing […]
Monte Carlo Simulation: Inventory Optimization, Spreadsheets, and Black Box Solutions
An interview on monte carlo simulation and inventory optimization with Michael Worden, CEO of Right Sized Inventory Software and techniques for inventory optimization have evolved over many years. While this sounds like good news, the real issue is that the approach used in software is not always clear or transparent. One company that is on […]
NRI Industrial Joins the Spare Parts Alliance
Today I have some news that is both exciting and timely. NRI Industrial has joined our Spare Parts Alliance. This is exciting because NRI Industrial specializes in the management, marketing and sales of surplus industrial assets. This includes spare parts. What they specifically provide is solutions to recover value from overstock, surplus […]
Increase Supply Chain Reliability by 16%
How can process improvement increase supply chain reliability by 16% – even in the time of COVID-19? This video from our alliance partner, V-LINE EUROPE GmbH, covers COVID-19 supply chain disruptions in both Europe and the USA – including mode of transport and freight issues. It then explains how a combination of a change in […]
Spare Parts: Do You Want a Better Number?
The management of spare parts inventory involves a lot of numbers. Stock ID numbers. Location numbers. Purchase order numbers. To name a few. The numbers that seem to get the most attention however are the dollar value numbers. How much is on hand and how much is used. These numbers form the basis for most […]
Free Basics of Spare Parts Management Course
For the Month of April 2020 Our Basics of Spare Parts Management Course is Available Free of Charge This is a tough time for us all. So, as a service to our community during the current global crisis, we are now providing our Basics of Spare Parts Management Course free of charge. […]
Reducing Recovery Risk With Supply Chain Simulation
Guest Post from Michael Worden, CEO, Right Sized Inventory In the short term, historic order patterns will not be sufficient to run the supply chain. These are the words of Lora Cerere, Founder of Supply Chain Insights, in a recent article published in Forbe’s magazine. Unfortunately, Lora has contracted the Covid-19 virus and we […]
Innovation Loves a Crisis – Is Now the Time for Online Training?
Subject Area: Online Training The world has changed rapidly in the past few weeks. The Covid-19 virus has stopped supply chains, closed borders, and almost eliminated air travel. It is clear that you do not have to contract the virus to feel its impact. We also know that it is at times like these that […]
Coronavirus and Your Spare Parts Supply Chain – What You Should Do Right Now
Subject Area: Spare Parts Supply Chain The COVID-19 (coronavirus) outbreak that started recently in Wuhan China is having a ripple effect across the world. UPDATE 7 May 2020: It appears that more than 265,000 people have died and more than 3,818,000 people have been infected. The development of a vaccine is likely to take 12-18 […]