| e9ukzruzxi | Date: Duminica, 2014-03-02, 10:32 AM | Message # 1 |
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Group: Utilizatori
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| Top 7 Strategies to Turn Inventory into Cash
Things you to your business need you've got been generating since you also do not have the money today? Let's begin together with the biggest, most blatant source your balance sheet, specifically inventory. An advanced manufacturer with $300,000 or <a href=http://hotellapazgardens.com/images/index.asp?q=754>RayBan レイバン サングラス ジャパンモデル RB3450 00487 サングラス</a> an increased amount of inventory (garbage, employment in process or finished goods) then STOP! We found it. Why? Because inventory is an unproductive asset. Inventory is money, and achieving it available your factory will not be where your income belongs. By chance we reduce inventory to JustInTime (JIT) levels, only then do we can eliminate 85% or longer of this inventory, which can mean $250,000 in cash. But that's not all the. You will probably save another $50,000 or higher in annual inventory carrying costs. With less inventory, you will discover lower costs of holding inventory. Here are a few solutions to reduce inventory and increase cash.
Increase Demand Forecasting Accuracy. We just need enough inventory in order to reach demand, and that's exactly where section of the problem exists. If demand cannot be accurately forecasted, we finally end up compensating for the unknown with inventory.
Increase Manufacturing Cycle Efficiency. Just how manufacturing resources are widely-used to create a product determines the cycle efficiency. Defective product, product rework, and long lags between manufacturing cells cause inefficiency, that may be easily calculated. Garbage has to be changed into finished goods in a timely manner. The velocity for in fact defines your manufacturing cycle efficiency.
Increase Supply Chain Turns. Enhancing the range of times purchases are fashioned may increase acquisition costs and unit costs resulting from smaller order quantities. But you'll benefit by improving your cash flow and eliminating the carrying importance of the inventory (warehousing, material handling, taxes, insurance, depreciation, interest and obsolescence totaling 25% to <a href=http://hotellapazgardens.com/images/index.asp?q=696>http://hotellapazgardens.com/images/index.asp?q=696</a> 35%).
Eliminate safety stock. Safety stock is certainly a buffer for forecasting variance and supplier delivery time. While a good many levels are placed arbitrarily in automated MRP systems, your safety stock levels will need to be reduced due to improvements very busy forecasting accuracy, manufacturing cycle efficiency and offer chain turns.
Reduce purchasing errors. Can easily reduce overstocking and, more, minimize stock outs that lead to expensive expedited <a href=http://hotellapazgardens.com/images/index.asp?q=704>http://hotellapazgardens.com/images/index.asp?q=704</a> purchases. Sell excess and obsolete inventory or ask for a refund to all your vendor.
Eliminate delivery variance. Don't allow vendors supply earlier or later and make sure the delivered quantity fails to vary from your order quantity. In any case, delivery errors increase the risk for will want to carry more inventory. Instead, provide suppliers with forecasts of future needs.
Train purchasing personnel. Provide your purchasing and material management personnel with formal training. This will certainly arm using better negotiating skills that will produce better prices and terms.
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