Inventory management is a discipline primarily about specifying the shape and placement of stocked goods. It is required at different locations within a facility or within many locations of a supply network to precede the regular and planned course of production and stock of materials.
ByHBR.org
Summary. Toyota has fared better than many of its competitors in riding out the supply chain disruptions of recent years. But focusing on how Toyota had stockpiled semiconductors and the problems of other manufacturers, some observers jumped to the conclusion that the era of the vaunted Toyota Production System was over. Not the case, say Toyota…
This article courtesy of theleanmag, a content partner of the Operational Excellence Society. Ah, so before you get started your first question is “when will we be done?” Seriously, that’s how you think? If it is then my advice is don’t even start. You obviously don’t understand what the term “lean” means so all you…
Back in the middle of 2017, as Tesla was ramping up the production of the Model-3 and the company was worth only $63.5 billion (as opposed to $1 trillion today), Elon Musk famously stated that he was entering “Production Hell“. Evidently, he made it through just fine. But people reading this might think; “Isn’t Musk…
Packaging is everywhere. Almost everything that we buy comes packaged in some form. New cars are packaged in protective films for transport. The jeans on the store shelf came in a corrugated paperboard box. Even the fresh fruit at the farmer’s market arrived in a box, and you took it home in a bag. The…
Yes, I’m broaching a hot topic. This article is deliberately not exhaustive, leaving plenty of room for further discussion. My intent: to encourage constructive, informative conversation among my many LinkedIn supply-chain experts. I have done my best to ensure that I have supported all my assertions with facts, analysis and calculations. Here is my theme: Forecast-to-actual demand variation has no…
This is a big and touchy topic, I know. I intend only to begin a dialog, not present an exhaustive treatise. First, let me define what I mean by “safety stock,” or SS: Not the restrictive, MRP-specific adder to gross requirements, but the general concept of buffer inventory. SS, determined correctly and optimally, protects against random variations…
