Managing Your Inventory for Success Video Series
Presented by HSC Consulting for Passport Software Inc.
Inventory Fundamentals: (6:39 mins)
Why do we have inventory?
Who owns the inventory in your company?
Asset or liability?
Inventory Management: (12:31 mins)
2 Key Concepts:
Velocity of materials
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)
Important Concepts in the Inventory Management Process: (9:47 mins)
a. Cycle counting vs physical inventory
People Make Decisions: (5:39 mins)
Systems and Training
5 Reasons Why Companies Have Too Much Inventory
Conclusion – Herb’s Law: (4:05 mins)