Many brick-and-mortar shops, ecommerce retailers, distributors, crafters, even manufacturers have an investment in inventory.
However, many business owners struggle to effectively manage their inventory. Too little inventory runs the risk of stock-outs and lost customer sales. Too much inventory results in working capital being tied up in slow moving inventory plus loss from obsolescence, damage, or theft.
In this workshop you’ll learn simple, yet effective techniques for reviewing the anticipated demand for finished products and balancing the demand with existing and incoming supply.
We will cover a simple five-step review process…
- How to review previous month’s sales and inventory position
- Determine the coming month’s Demand (sales promotions, seasonal demand changes, etc.)
- Supply status
- Current inventory levels
- Supplier open order status
- Potential supply risks
- Preplanning Review
- Expected demand/supply imbalances
- Remediation actions
- Implement supply plans
Presented by Terry Fearn