Inventory management
Problems
- Frequent inventory shortages;
- Low stock turnover;
- Huge warehouse and handling space;
- Complex inventory and purchasing management;
- Employees not concerned by the levels of stocks and it's management;
- Inventory data not according to reality;
- High inventory costs;
- Frequent production stalls due to stock shortages;
- High WIP between workplaces.
Our approach
A multidisciplinary team of employees reviews and analyze all the inventory, products and purchases in order to implement an ABC inventory methodology. The team will then be able to develop production and buying strategies adapted to every stock class. They will also be able to use new strategies to review the whole layout and functioning of the storeroom and warehouse usage.
The team will then develop and implement a simple and visual kanban system to limit stock shortages while optimizing the stock turnover. Used on the production floor, this system will bring the employees to be responsible in the raw material, wip and finished products inventory management.
Anticipated results
- Simplified production scheduling and supply chain processes;
- Implementation of kanban systems and ABC management strategies;
- Orientation of the planner and the buyer priorities to ensure the performance of the production activities;
- Reduction of raw material, wip and finished goods inventory shortages;
- Optimization of the inventory levels and reduction of the cashflow investments.
For the company that wants to minimize it's space usage and it's warehouse costs while keeping a high level of service.