Inventory management has always been challenging. How much should we hold? How much is too much? How much is too little? The supply chain shocks of 2020 brought this challenge into focus. Too often, inventory is viewed from an aggregate position, likely driven by finance, who are concerned about working capital implications. This aggregate view, however, can hide a multitude of sins when it comes to the health of our inventory mix – do I have the right quantities of each item at each stock holding location? Inventory should act as a buffer to adsorb variability and decouple the demand from the supply side of our supply chains.
We have developed a new assessment to understand how organizations are approaching inventory optimization, what techniques are being used, and what factors are being included. It also provides an assessment of your current approach to inventory optimization.
How does your inventory optimization process score? Take this quiz by @AIMMS to find out! – Tweet this
The 15-question assessment takes only 5 minutes to complete. Take it today to see how your inventory optimization process scores and benchmark it against peers. You can also opt-in to receive a detailed report with our findings. Responses are aggregated and kept anonymous.
We hope it serves as a though-provoking exercise to improve your approach!