Tompkins helps companies develop an effective approach to inventory management. 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. Our solutions consider:
- 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
- Operation changes driven by promotions, 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, RONA/GMROI or A/P increase
Tompkins looks at every area impacting your inventory to create a comprehensive inventory management strategy that will enhance financial performance and client satisfaction. We support the execution of a world-class inventory management by improving inventory performance, sku rationalization and profitability to help create solutions that:
- 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
- Focus on cross-dock, cycle count and transferring and discontinuing SKUs effectively
- Reduce purchase transaction and manufacturing set-up/changeover costs
- Continuously improve inventory performance