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Implementing Inventory Management Best Practices | OptiProERP

Re-evaluating inventory operations is a prime concern for manufacturing businesses. Learn how to maintain inventory while improving customer satisfaction by watching this webinar slides.

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Implementing Inventory Management Best Practices | OptiProERP

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  1. Presented By: Allan Lessing Director of Sales Praneeth Putlur Director of Professional Services

  2. AGENDA • Inventory Challenges • Best Practices • How To Do It? • Expected Results • Who We Are

  3. Inventory Management Challenges Expenses associated to last minute decisions Customer satisfaction is tanking Overstock / Understock (short) Obsolescence Reserves are increasing Manufacturing costs are going up Manufacturing schedules are constantly changing Ghost Inventory

  4. Inventory Visibility External Internal Receiving Quarantine Cross Docking Multi-warehouse WIP, Work Orders Routing Work/Assembly Centers Shipping/Drop Shipping Vendors Transit Subcontract Operations 3PL

  5. AGENDA • Inventory Challenges • BestPractices • How To Do It? • Expected Results • Who We Are

  6. Optimizing Inventory Levels Understand Your Demand Know Your Demand Flow Control/Measure your key Affectors Inventory Strategies Advance Inventory Strategies

  7. Automating Inventory Processes RFID and License Plating Barcoding Perpetual Inventory with MRP EDI • ABC Count Identification • A - Item high cost value/ long lead time • B - Average item ($/time) • C - Easy toget/lowcost

  8. Inventory Record Accuracy vs. $ Move from Physical Count to Cycle Count to improve the Frequency and Root Cause Analysis Results Fewer stock outs Lower “just in case” Inventory Accelerated and Reduced Inventory Lower Inventory Risk Reduced Inventory Shrinkage Lower Inventory with better Fill Rates Collateral Process Improvements

  9. AGENDA • Inventory Challenges • BestPractices • How To Do It? • Expected Results • Who We Are

  10. How To Do It? OptiProERP gives you the ability to have full, real-time control of your inventory… Lets see OptiProERP in action!

  11. AGENDA • Inventory Challenges • BestPractices • How To Do It? • Expected Results • Who We Are

  12. Expected Results ‘If you can’t measure it, you can’t improve it’ -Peter Drucker Determine the real level of Safety Stock Inventory / Minimum Value Inventory Inventory Record Accuracy (IRA)(98%) Inventory Turnover (Turns) (COGS/Inventory)(9+) Reduce Stock-outs Increase Fill rates Reduce Slow Moving Inventory

  13. AGENDA • Inventory Challenges • BestPractices • How To Do It? • Expected Results • Who We Are

  14. Global Company At Your Service

  15. About Us 7 x 24 hoursofsupport Global team of more than 400 people 100% focusedonManufacturing Laguna Hills, USA (Headquarters) Mexico City Indore, India

  16. Allan Lessing Contact: alessing@optiproerp.com Tel. +1 949 506 9940 W: www.optiproerp.com

  17. Resources Complement your learning experience by leveraging the FREE resources for manufacturers available on our website, or schedule a product overview to learn more about OptiProERP. • On-Demand Webinar: Inventory Management Best Practices • 5 Critical Inventory Management Best Practices • Inventory Management 101 – The Master Production Schedule (MPS) Explained • 6 Ways to Reduce Inventory Levels • 4 Lean Inventory Management Best Practices • Which Inventory Control Method Is Right For You?

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