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Inventory Management Diagnosis
Profiling inventory is crucial for efficient inventory management, cost control, and customer satisfaction. This will assist in keeping the right balance between having enough stock to meet demand and minimizing the costs associated with carrying excess inventory. By leveraging data and insights from inventory profiling, we can make informed decisions in optimising supply chain and inventory management processes.
Why have your inventory profile by us?
- Independent assessment on categorising and presenting your inventory information in a dashboard
- Preliminary assessment if current systems are optimised to manage your inventory
Based on preliminary data, and if we think there are opportunities for improvement, we will discuss with you on:
- Potential cost savings
- Minimise stockouts situation
- Potential identification of process improvements
Questions to assess for Inventory Profiling
Following are the questions prepared for us to assess the type of dashboard for you (please click on the link here for the full submission form)
- Estimated number of inventories by line items
- Estimated number of warehouses (stored in different countries is considered separate warehouses)?
- For inventory quantity to purchase, any ordering method used by the planning team?
- Does your inventory contain any shelf life/hazardous?
- What system is used to record your inventory?
- What is the average estimated inventory days (i.e. number of days before an inventory is sold or used) ?
- Estimated number of people who is able to update records in inventory?
- Any specific areas of concerns on your inventory management?
