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Inventory Management Challenges: How Do You Overcome Yours?

If You’re Asking that Question, We’re Here to Help

Inventory management—it’s an unsung supply chain discipline that has unparalleled impact on supply chain performance.

How well does your company fare when it comes to planning and controlling its inventory? While many supply chain leaders believe they are totally on top of inventory management, a thorough review often throws up process weaknesses and other issues that negatively impact performance.

That’s problematic because seemingly insignificant hitches in inventory management can contribute to supply chain cost excesses, sometimes substantially so.

With that in mind, wouldn’t you sleep easier if you knew for sure that your IM performance is impeccable, or that any hidden issues were exposed and remedied? We can help you achieve that peace of mind via our comprehensive IM diagnostic and consulting services.

Inventory Anxiety: A Common Malady for Supply Chain Managers

Many of our consultants come from operational backgrounds in supply chain and logistics, and they know how common it is to feel anxious about inventory control. In the midst of day-to-day logistics management, small IM problems can arise unnoticed, leading to symptoms that also might not be immediately apparent, such as:

  • Increasing levels of working capital tied up in inventory
  • Slow-moving inventory becoming obsolete before remedial action can be taken
  • Rising volumes of back orders
  • Customer service issues
  • Frequent transfers of inventory between internal network nodes

It’s incredibly easy for issues like these to escalate slowly but surely, and escape detection until their cost and service impacts are substantial enough to alert executives in your enterprise. Not only is that a sign that the problems have gone too far, but at that point it can also be tough to separate the symptoms from the causes.

Fix Your IM Issues Before They Go Too Far

The good news is that improved inventory management is achievable without high levels of capital investment, but only if the issues are identified early and rectified promptly.

It’s rare for hidden inventory management problems to be limited to one or two, so it’s not just a matter of identification—it’s all about prioritisation too.

Your efforts might begin by commissioning an audit and report of inventory management performance, perhaps to be executed by an external consulting company—for the sake of objectivity and impartiality.

Of course, inventory management performance is dependent on the quality and effectiveness of planning, so after you identify the primary IM problems in your warehouse(s), you’ll need to review planning performance and look for weaknesses.

How is your forecasting? That’s another supply chain activity that drives IM performance, and you’ll need to look at warehouse processes too, such as receiving, picking, and dispatch.

That’s a lot to look at and analyse, all in all, but nonetheless, it’s a worthwhile investment of time and resources… And it’s a whole lot easier with help from our inventory management consulting team.

Companies that Trust Us

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Save Time and Money with our Inventory Management Diagnostics

We’ve recently refocused many of our consulting services, including those relating to inventory management, with a greater emphasis on remote aid for our clients.

As a result, we now offer a set of fully remote IM diagnostics solutions, all designed to help you neutralize inventory management problems in your warehouses and distribution centres.

These services are available to your company, no matter where in the world you are located, and as you might imagine, offer significant cost benefits, since there are no costly travel and accommodation expenses involved. Yet we still attach our no-quibble, money-back guarantee to give you 100% confidence of ROI in our fees.

The solutions and services include:

  • Half-day inventory management excellence workshops
  • Inventory diagnostic audit and report
  • Supply chain planning audit and assessment
  • Forecasting quality assessment and benchmarking
  • Material and product flow mapping
  • Inbound delivery performance assessment
  • Customer dispatch performance analysis and report
  • Safety inventory optimisation

In addition to our remote diagnostics and consulting solutions, we continue to offer conventional on-site services if you prefer to have consultants on the ground working directly with your team.

We’ll be very happy to help you with any inventory management improvement or problem-solving project, and will tailor our service to meet your needs precisely.

Your Confidence Assured by Our IM Credentials

With a proven history of customer satisfaction spanning several decades, our inventory management consulting credentials are solid, as evidenced by our high volume of repeat engagements with regular clients.

Here are some key statistics and facts about our consultants, services, and reputation as an outstanding force in IM consulting, not just in Australia, where we are headquartered, but globally:

  • We have been established for more than 25 years
  • We have successfully completed 2,000+ projects in over 25 countries
  • Typical payback time from projects we work on is three months or even less
  • Several of the 500 largest global enterprises count among our portfolio of satisfied clients
  • Total savings across our client base, arising from our consulting services, is circa $7 billion.

Ready for Some Hard Talk about Inventory Management?

There’s only so much we can tell you about inventory management and how to improve it without knowing your business.

So if you’re ready for some objective, honest, hard talk about your company’s IM performance, we’ll be pleased to offer you an initial consultation, lasting around 15 minutes, totally FREE of charge, and without any obligation.

During that call, scheduled at a time that suits you, we will:

  1. Review one of your most pressing IM concerns.
  2. Identify the most likely cause of the problem.
  3. Develop a simple, achievable, plan of action.
  4. Outline how we can actively help you with other elements of your inventory management.

Where You’ve Seen Us

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Let’s Take Stock, and Start Improving Your IM

Whether you want help with a major inventory management project in your distribution network, or feel your operation could benefit from some remotely executed diagnostics and practical advice, we’re ready and willing to assist—after all, it’s what we do best here at Logistics Bureau.

Start with a FREE advisory call to get a feel for what we do and learn how we can help. It’s easy to schedule using the form below. Alternatively, you can get in touch with us right away at +61 (2) 8212 9775, or send an email to [email protected].

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