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The prime objective for all supply chains is to provide clients with what they want, when they want it. Inventory management plays a central role in every supply chain’s need to satisfy its clients.
Inventory Solutions
Tompkins Associates helps companies develop an effective approach to inventory. We analyze the impact of internal and external factors to integrate inventory with purchasing, manufacturing, distribution, marketing and sales to create inventory policies that make sense. Tompkins solutions take into account:
- Client
needs and their influence on in-stock/fill rates,
lead time and accuracy
- Costs incurred from purchase transaction expenses, manufacturing set-up/changeover expenses, and more
- Operations
changes driven by promotions or recalls and SKU
proliferation
- Technology
and its ability to provide trend, profiling and seasonality-based
forecasting, trading partner visibility and planning collaboration
- Corporate goals whether revenue, unit sales, or RONA/GMROI or A/P increase
We look
at every area impacting your inventory to create a comprehensive
inventory management strategy that will enhance financial
performance and client satisfaction.
Understanding
Inventory
Despite
its importance to the supply chain, inventory is not universally
well understood. It is variously characterized, both positively
and negatively, as an economic asset to a non-income-producing
use of capital funds. Only when considered in light of all
quality, client service and economic factors—from the viewpoints
of purchasing, manufacturing, sales and finance—does the whole
picture of inventory become clear. No matter the viewpoint,
effective inventory management is essential to supply chain
competitiveness.
Lowering Inventory
Costs
Recent industry reports show that inventory costs as a percent of total logistics costs are increasing. Despite this rise, many organizations have not taken full advantage of ways for lowering inventory costs. There are a number of proven strategies that will provide payoff in the inventory area, both in client service and in financial terms.
Some of these strategies for lowering inventory costs involve having less inventory while others involve owning less of the inventory you have. Regardless of which techniques you employ, proactive inventory management practices will make a measurable difference in your operations.
Read 25
Ways to Lower Inventory Costs for some of the most common
and not so common techniques for lowering inventory costs.
Learn More About Tompkins
Associates
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simply complete our Information
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Strategic Alliance
Optiant Offers PowerChain Inventory Optimization Software.
www.optiant.com
Managing
Inventory
For over
30 years, Tompkins Associates has helped companies and supply
chains:
- Assess
inventory management practices
- Improve
forecasting
accuracy
- Create
more logical stocking (and non-stock!)
policies
- Manage
cycle stock
to reduce costs
- Establish dynamic safety stock levels based on client service
- Cross-dock, cycle count, transfer, and discontinue SKUs effectively
- Reduce purchase transaction and manufacturing set-up/changeover costs
- Continuously improve inventory performance
Tompkins Associates Pays Off for its Clients
Read how senior supply chain executive William Day of SYSCO benefits from an ongoing relationship with Tompkins Associates.
Resources
DC slotting reduces labor, operating costs
Seven Tips for Managing Inventory Turnover
A Guide to Implementing a World-Class Cycle Counting Program
Inventory:
The Unwanted Asset
Client
Successes
See
how we've helped our clients better manage their inventory
(web presentation)
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