Trunk stock is a necessity among service, sales and repair professionals, but many fail to understand its significance to a company’s profit margins. Trunk stock refers to the inventory professionals must keep on hand when making calls in the field, and that is why effective spare parts inventory… Read entire entry »
Successful parts inventory management goes back to knowing the difference between good deals and great deals on spare parts available. Unfortunately, the modern era is also the era in greatest need of added vigilance by suppliers and purchasers. More unauthorized retailers are trying to s… Read entire entry »
In Part I of this series, we discussed the risks inherent in purchasing counterfeit parts in the supply chain and how it can lead to higher costs and problems with spare parts inventory management. While that information can be somewhat worrisome, the other side of the coin, the benefits of working… Read entire entry »
The world has become focused on scouring the internet for trails of cheaper products, including obtaining and maintaining parts inventory management. Unfortunately, the old adage of “buyer beware” seems to have been lost amid the chaos. But, it continues to ring true in both the storyboards of… Read entire entry »
In order to compete in today’s global business arena, especially if you’re an OEM with global SLA requirements, many elements of your business have to be tuned and optimized. From finance and sales to warehousing and operations, business leaders are faced with dozens if not hundreds of key… Read entire entry »
Savvy inventory control within a supply chain reduces total inventory costs. In our series from Monday we covered consumer demand and service, including their impact upon product life cycles and the uncertainties of demand upon inventory control. This post will complete the series by addressing… Read entire entry »
In this part 1 of our 2 part series on better inventory control in the supply chain, we give guidance on successful inventory management. Today, we explore how firms handle inventories, tomorrow, we conclude the series with best practices and tips to control inventory costs.
Changing… Read entire entry »