H O M E

A well-executed inventory management plan will enable your staff to either provide material and parts for your customers or for maintaining your own plant and equipment. Inventory is an asset to your organization when the material is available when needed and in the required quantity. Establishing the following approaches will help you manage your inventory assets and reduce your costs. Velocity has the experience and knowledge to "get you up to speed" and leave you with a process that is simple, understandable and furthermore; it will withstand the test of time.

• Often companies manage their inventories (especially large inventories) by using the same replenishment approach for the majority of stock. An unlikely example might be that nuts and bolts are reprovisioned using i.e. min/max as well as expensive computer switches. The uniform approach in the latter example is a uniform approach. If you take a uniform approach your costs are likely higher than were you to adopt a segmented approach. Velocity can help you take a fresh look at your at all segments of your inventory and devise a comprehensive set of management methods that will reduce time, effort and costs.
• Whether you have a large or small inventory, with the right plan, negotiation strategy and goals you can operate with less inventory. By taking a Supply Chain Management approach that takes into account i.e. logistics, buying and other disciplines you can reduce your inventory without damaging customer service. Velocity has the experience and unbiased viewpoint that can look into your practices and assist in establishing and executing a new or revised Inventory Management plan that considers all aspects of the Supply Chain.
• Are you operating with a min/max inventory levels? Often time's min/max levels are set arbitrarily and then are not measured for effectiveness. Velocity can quickly determine if your levels are providing the right balance between inventory turnovers and customer fill rates. We will establish a management reporting process that when viewed will quickly determine whether the actual inventory is supporting your financial goals and customer service requirements.