Delivery Lead Time – Which inventory opportunity will deliver the greatest return?
Delivery lead time – How can you determine which inventory reduction opportunity will deliver the greatest return? Supply chain teams are under constant pressure to achieve ever-more ambitious inventory reduction goals. However, given that high inventory levels are caused by a broad range of factors, identifying the best strategy to reduce the inventory can be a real challenge.
Most supply chain managers know that excess stock exists within their business. Yet in order to identify what caused the problem in the first place and, more importantly, determine how best to fix it, this requires time, effort and resource. Consequently, all inventory reduction opportunities should be analysed and prioritised accordingly.
To help you assess where you should focus your inventory reduction efforts, we have put together 5 simple analysis techniques. Over the next few weeks, we will be releasing these top tips to help you make more objective decisions as you pursue your inventory reduction goals.
Take control of delivery lead times to achieve your inventory reduction goals
There are many different inventory reduction strategies that can help deliver impressive results. However, prioritising excess inventory issues associated with delivery lead times can offer a great starting point for inventory optimisation. In addition to highlighting where excess stock exists within your assortment, this analysis can provide invaluable insight into the effectiveness of your buying processes!
Download our guide today to adopt our 5 essential top tips to identify inventory reduction opportunities within your business.