Question

explain the process reducing in different type of inventory an organization​

Answer 1

Hlw mate

Question:

explain the process reducing in different type of inventory an organization

Answer:

How to reduce inventory

Most executives agree that top-heavy inventories are a giant cash vacuum and need to be reduced in order to free up cash for investment in revenue-growth activities. How can this be accomplished?

Most executives agree that top-heavy inventories are a giant cash vacuum and need to be reduced in order to free up cash for investment in revenue-growth activities. How can this be accomplished?One of the major impediments to inventory reduction is the mistaken notion that just improved inventory management is all that is required to get the job done. The real culprits are the inefficient business processes that cause excessive inventories to exist in the first place.

Don’t always blame inventory control. Certainly, lack of control contributes to excessive inventory, but often behavior in inventory-controlling functions is driven by management's highly negative reaction to material shortages compared to rare and less severe response to high inventory levels. Send the correct signals to those functions that control inventory so that they are properly motivated towards reduction.

Re-engineer. Major reductions (20 to 50 percent or more) in all forms of inventory, without harming customer service, usually require the re-engineering of the order-to-delivery cycle to find ways to do it faster, better, cheaper. Dramatic rethinking of business processes often results in significant reductions in lead times and increases in control that eliminate the need for inventory buffers. As a bonus, this kind of change usually pays benefits in increased quality and improved customer service.

Improve supply chain management. By streamlining the entire supply chain, a company can reduce inventory, improve time to market, compress cycle times, free up more cash, decrease costs and improve profitability.

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Answer 2

Answer:

The following are a dozen ways to reduce inventory, suggested by supply chain consulting firm Cornerstone Solutions:

• The following are a dozen ways to reduce inventory, suggested by supply chain consulting firm Cornerstone Solutions:Reduce demand variability.
• The following are a dozen ways to reduce inventory, suggested by supply chain consulting firm Cornerstone Solutions:Reduce demand variability.Improve forecast accuracy.
• The following are a dozen ways to reduce inventory, suggested by supply chain consulting firm Cornerstone Solutions:Reduce demand variability.Improve forecast accuracy.Re-examine service levels.
• The following are a dozen ways to reduce inventory, suggested by supply chain consulting firm Cornerstone Solutions:Reduce demand variability.Improve forecast accuracy.Re-examine service levels.Address capacity issues.
• The following are a dozen ways to reduce inventory, suggested by supply chain consulting firm Cornerstone Solutions:Reduce demand variability.Improve forecast accuracy.Re-examine service levels.Address capacity issues.Reduce order sizes.
• The following are a dozen ways to reduce inventory, suggested by supply chain consulting firm Cornerstone Solutions:Reduce demand variability.Improve forecast accuracy.Re-examine service levels.Address capacity issues.Reduce order sizes.Reduce manufacturing lot sizes.
• The following are a dozen ways to reduce inventory, suggested by supply chain consulting firm Cornerstone Solutions:Reduce demand variability.Improve forecast accuracy.Re-examine service levels.Address capacity issues.Reduce order sizes.Reduce manufacturing lot sizes.Reduce supplier lead time

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