Inventory Management

Scientific Business Management can provide a wide array of Inventory Management services for your organization. SBM can help to implement, in your organization, a replenishment inventory management system that will help you optimize your inventory investment while improving your customer service. We can support your efforts at any level from implementation and training so that your employees will run the system, to providing a monthly service that will evaluate and update the purchasing parameters, to a fully outsourced management option where SCM manages your inventory.

Our services include:

• Evaluating your forecasting systems and determining their effectiveness
• Analyzing your inventory levels by SKU to determine the proper level for each
• Calculating your ability to service customers and setting inventory levels to optimize
• Suggesting operational process improvements that can allow for inventory reductions
• Monthly system evaluation and update;Warehousing and material handling procedures.

SBM has a qualified team of inventory management professionals ready to assist in optimizing your inventory management systems. This team consists of former forecast managers, supply chain directors, buyers, and distribution center managers. This team averages more than ten years experience dealing with inventory management and supply chain issues.

Understand

Scientific Business Management will do a situation analysis to analyze and understand your inventory management issues. We will analyze your customer service levels, forecast accuracy, target inventory levels relative to actual on-hand inventory, replenishment lead-times, and inventory handling processes. SBM can then provide an expected improvement based on implementing a replenishment inventory management system.

Control

Scientific Business Management will help your company implement a robust control plan for your inventory handling procedures. The controls may include, but are not limited to, receiving, picking, shipping, and cycle count processes. Additionally, we will help implement an inventory management system that will proceduralize forecasting and product purchasing to control inventory investment.

Manage

Scientific Business Management will design and help you implement the following reports to help you manage your business and to provide the information needed to target and implement improvements to your business: Inventory target levels versus actual (with improvement tracking); forecast accuracy, inventory accuracy, lead-time and on-time ship from vendors. SBM can, also, help you implement a monthly Sales & Operations Planning (S&OP) process that will facilitate discussion between the Sales / Marketing functions and Operations. This process helps coordinate efforts across the company.

Improve

Scientific Business Management can manage operational improvement projects that can dramatically improve your operational capabilities and competitiveness. The types of projects that we can manage include, but are not limited to, the following operations improvement projects:

• Lead-time reduction with vendors and transportation
• Moving product completion until later in the supply process
• Reducing order quantities through manufacturing improvements
• Reducing the impact of long leadtime items.

All of these efforts can reduce inventory while maintaining or improving customer service.