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Corporate assets are purchased and maintained based on a sound business case. However, because analysis was so difficult in the past, the inventory, often the largest asset of all, is left to look after itself.
Your Supply System Checklist
Similarly, while the production system is closely managed, many supply systems are left to chance. Deficiencies in the supply process are often hidden by inflated inventories
Your Supply System Checklist:
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You can track and trace orders from initial placement through despatch, transport, receipt, warehousing and issue |
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You know how much it costs to raise a purchase order and your purchasing is set at levels that provide the most economical order quantities. |
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You know the cost of holding an item in the warehouse and the cost of stocking out and your levels of safety stock reflect the relativity of these costs. |
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You are not keeping goods in your warehouse that have low criticality, are infrequently used and are readily available. |
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You automatically adjust the warehouse stock levels as the usage and price of items changes with time. |
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You know where all items in the warehouse are used. |
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Vendor performance is monitored for such things as first fills, invoice mismatches, late deliveries etc with reports and ranking available for feedback to vendors. |
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You know the actual lead-time of items from each supplier compared to what the vendor states that it will be. |
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Inventory items are actively classified into management groups such as High Critical fast moving, Insurance spares, Slow Moving High Value, etc and an appropriate management strategy is in place for each class of item. |
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The site or vendor location of key spares shared across multiple sites is known and managed effectively |
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You are not carrying excess repairable stock. Sites can find that they have 10 years (or more) of various repaired items (like pumps and motors) in the warehouse. |
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You never have empty shelves |
The importance of having a tick in all the above boxes is obvious but until recently the achievement of these targets involved expensive, mind numbing repetitive work.
With a combination of sound analytical processes and a variety of excellent software, the cost of setting up and automating these supply activities is negligible in relation to the returns achievable through best practice supply management.
Head Office 7 Abbey Street Wavell Heights Brisbane 4012 Australia Phone +61 7 3266 2047 |
| Queensland |
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