Inventory Engineering is the activity of completely and deeply understanding fundamental inventory management terminology, concepts, and practices to ensure that ERP system data elements and operational parameters are properly set to ensure desired business results. We stress planner accountability and performance metrics to enable visibility, targeted feedback, and quick course correction when needed.
Our experience shows that fundamental inventory management principles are not well understood across corporate America today:
What is the difference between safety stock and an order point? What are the various ways to calculate safety stock? What is ABC analysis? How is it done? What in inventory conformity? What role does MRP play in inventory management? What is the difference between planning and execution? How do you set up a Kanban replenishment system? How should a planner track performance and report on it? What in the world is “charter part accountability”? And, many more topics!
So in response to this learning need, the Inventory Engineering practice area emerged as one of our featured services.