Influencing inventory management
29 August 2012
Q: I have recently joined a manufacturing company as purchasing manager and currently have no involvement in inventory management. Levels are set by the production director and we have a stock turn of 2.3 times a year on production raw materials and bough
A: Stephen Ashcroft, business consultant at Brian Farrington, writes: You obviously recognise that the current rate of stock turn (the cycle of use from receipt to exhaustion of the stock) is unacceptable, so the following general advice is relevant whatever your inventory make-up or process.
It is a fact that, sometimes,...