Inventory Accuracy & Optimization Strategies

By: JIT Solutions Group  08/21/2014
Keywords: Inventory Management Solutions

Inventory accuracy must start with a solid foundation. A foundation based on proven principles and sound business practices, processes and procedures. We offer our clients a no nonsense approach to improving inventory accuracy and optimization. We begin by evaluating your current inventory accuracy through audits and analysis of transactional data. The results of this process will help us develop a strategy for improvement that is specific to your needs. Two areas of our program that provide immediate results to our clients are: • Establishing ABC Classification Codes for inventory • Developing a Cycle Counting schedule Implementing these 2 methods will provide control of your inventory and allow you to address inventory concerns/issues faster and eliminate the need for yearly physical inventories. Secondly, we will audit your inventory to ensure you are stocking the appropriate items and maintaining sufficient stocking levels that support your current business conditions. This audit is likely to result in a balance of excess and obsolete product. At your discretion, JIT will begin the task of disposing of the excess and obsolete inventory through our network of strategic partners to provide you with the maximum dollar value for your product.

Keywords: Inventory Management Solutions

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