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Manage inventory to keep the wheels turning

April 04, 2012

Whether you are the inventory manager of a large mining operation in the Middle East, a major construction project here at home or a dealer or manager of a retail outlet, you know that maintaining adequate stock of the products you sell or supply is vital.

But maintaining an adequate supply of inventory can be a difficult task, especially in large operations that use specialized machinery and have a large workforce that relies on multiple products to do their job. It only needs one important component to fail to bring a machine to a standstill, or one product to be out of stock to halt a job or worker.

But by putting in place a few simple strategies, inventory managers can keep projects rolling, machines running and the team at work:

Get everyone on board
Send a memo to every single worker, asking them to inform you if they see certain products are running low or components wearing out. It makes a world of difference when everyone is on the same page.

Take stock
Simple stock sheets such as this one are popular in the retail sector and are an effective tool for keeping stock of fast-moving products

 

Identify key components/products
Try to find out the key components that either break often or are difficult to replace and make sure you maintain a good stock of them. Do the same for items that are always in great demand.


PVC Plus Drilling Products are your one-stop shop for all PVC pipe, fittings and drilling-related products. PVC Plus drilling products exports worldwide, wholesaling PVC pipe, PVC fittings, PVC valves and numerous other drilling related products to North American distributors, consulting firms, industrial, commercial and residential customers. PVC Plus also resells products from industry leaders such as Baroid and IPEX. For more information, contact PVC Plus Drilling Products today.

 

http://www.managementstudyguide.com/inventory-management.htm

 

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