Excess inventory is the bane of the supply chain manager’s existence…until it’s suddenly needed for an emergency order. Balancing inventory levels with order fulfillment quality is one of the most difficult challenges supply chain planners face. There are plenty of sophisticated methods and algorithms out there to help calculate safety stock levels. However without good supply chain data, it’s almost impossible to implement any kind of rigorous inventory management process. High quality supply chain data can be instrumental in helping you optimize your inventory levels. Here are five actions you can take to start reducing all that buffer stock.
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About the Author
John Berry has spent the last 30 years building software and data solutions for some of the world's most well-known supply chains. He believes supply chain and logistics are great career paths for those looking to establish technology careers. He is currently the IT Director for JUSDA Supply Chain Management, a member of the Foxconn Technology Group. In this role he leads a team that develops technology solutions for the global manufacturing supply chain. John is a contributor to the upcoming book The Digital Transformation of Logistics: Demystifying Impacts of the Fourth Industrial Revolution published by IEEE Press.
Want to learn how to use data integration techniques to optimize business results and supercharge your career? Enroll in John's Data Integration Fundamentals course on Udemy.