Supply chain and Logistics Consultants

Inventory Management

For some organisations, inventory management is a constant dilemma; too little and service levels can be affected, too much and profitability can be eroded. Dawson Consulting’s services in this area assist organisations match the amount of inventory they need to service the needs of their customers.

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Our range of services in this area include:

  • Establishing benchmarks and quantifying opportunities for improvement
  • Evaluation and development of policy and procedure
  • Optimising inventory holdings and replenishment
  • Aligning systems and functionality to business requirements
  • Training

Establishing benchmarks and quantifying opportunities for improvement

Modelling your inventory activity enables our team to determine appropriate benchmarks for your individual circumstances. Information gained through modelling enables potential opportunities to be identified, and more importantly quantified. Modelling can show us where inventory is not performing at its optimum. Modelling may also be used to simulate the cost and service implications of using different service levels and different levels of investment.

Evaluation and development of policy and procedure

Policies and procedures underpin effective and efficient long-term inventory management operations and typically are the areas of main neglect. Either they are not current or do not cover all aspects needed to maintain efficient and effective inventory management. When an organisation fails to set clear guidelines in respect to inventory management, the result is often, accumulations of unwanted stock and inappropriate inventory levels. Our consulting team has extensive experience across many industries and comprehensive knowledge on the evaluation and establishment of practical workable policies and procedures.

Optimising inventory holdings and replenishment

In the main, inventory management involves determining how much to hold and when to replenish. Our consulting team developed a proprietary inventory management system that may be used to optimise inventory holdings and replenishment. The values produced by the tool may be uploaded into your own inventory management system. In doing so, the benefits of the new values – improved customer service or reduced costs – are available immediately.

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Aligning functionality to business requirements

Systems constitute a key component of current inventory management activities. Dawson Consulting recognises the benefits of an inventory management system. In fact, Dawson Consulting has developed its own inventory management system. While this tool is for internal use only, the expertise gained in developing our tool is invaluable in evaluating your current system’s capabilities and determining the most appropriate functionality requirements needed to meet your requirements.

As Dawson Consulting has an extensive knowledge of inventory management functionality requirements and the techniques the major inventory management systems employ, we can provide real insight into the functionality specification and solution selection process. Please view our latest white paper on slow moving inventory, for our perspective on real solutions to issues in inventory management.

Training

In order to improve on the current inventory management approach, our clients often require training to reinforce the basic principles and improve levels of competency. Our team at Dawson Consulting can provide generic inventory management training or tailor training to the needs of your organisation. Please see our latest schedule of events in a city near you.

Contact Us now to discuss your needs.

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