What You’ll Learn…
- The Costs of Poor Inventory Accuracy and Inventory Loss
- The Impact of Poor Inventory Accuracy on Company Performance
- The Causes of Poor Inventory Accuracy
- How To Improve Inventory Accuracy
- How To Measure Inventory Accuracy
- How to Reduce Inventory Loss
What You’ll Get…
1. A self study guide - 8-10 pages explaining all about Inventory Accuracy
2. A comprehensive inventory spreadsheet - enabling you to design a Inventory Accuracy measurement system
3. A professional video - explaining "how to use" the spreadsheet
Our approach to training is entirely new. There is nothing like it on the internet.
What the Spreadsheet Will Enable You To Do…
- Enable you to enter and review your cycle count results
- Measure cycle count accuracy such as good count, bad count, net dollar accuracy, absolute dollar accuracy etc
- Measure the # of items in error by a nominated % error rate
- Calculate a weighted inventory accuracy score – the only way to consistently measure your inventory accuracy - A great KPI for your Business
- Measure your Inventory Loss
Ask ourself The Following Questions:
- Do you find yourself with more inventory errors than normal?
- Do you often find yourself coping with emergency rush orders to fill stock, or suffering stock outages?
- Are your records viewed with skepticism rather than trust?
- Do you pay more than you’d like in freight and carrying costs?
- Do you write off too much stock due to inventory loss after stocktakes?
The majority of people in business can answer “yes” to at least one of these questions, so there is a critical problem with inventory accuracy. Despite the common misconception that an accurate inventory is of diminished importance in modern business, the truth is that a full 80% of the problems experienced in manufacturing and sales on a daily basis are caused by simple inaccuracies in inventory management.
In modern companies, inventory accuracy and reducing inventory loss is one of the most important aspects of running a profitable business. When the records aren’t right, it can lead to catastrophic results: increased costs, reduced productivity, and severely diminished customer satisfaction.
Pervasive problems like these are quite easy to overcome. Why do they persist? In this module you uncover the facts and fallacies so you can redouble your intention to improve inventory accuracy and reduce inventory loss.
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