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Managing Your Inventory for Success Video Series

Presented by HSC Consulting for Passport Software Inc.
 

Introduction: (1:41 mins)

 

Inventory Fundamentals: (6:39 mins)

3 Questions: 

  1. Why do we have inventory?

  2. Who owns the inventory in your company?

  3. Asset or liability?

 

Inventory Management: (12:31 mins)

2 Key Concepts: 

  1. Velocity of materials

  2. See all the inventory in your system from beginning to end

         a. How does a company manage inventory?

i.   Information from Sales/Marketing

ii. Goals/Objectives from Management

iii. Inputs from Operations

 

Inventory Management Process: (4:15 mins)

  1. Inventory Plans

  2. Inventory Schedules

 

Important Concepts in the Inventory Management Process: (9:47 mins)

  1. Systems

  2. Accuracy 
        a. Cycle counting vs physical inventory

 

People Make Decisions: (5:39 mins)

  1. Systems and Training

  2. 5 Reasons Why Companies Have Too Much Inventory

 

Conclusion – Herb’s Law: (4:05 mins)