Buyers spend their days determining the optimal levels of inventory that should be bought at any given time, but it’s not always a straightforward process. Without the right tools at their disposal, it can be incredibly tedious and time-consuming, often leaving buyers to rely on guesswork to guide their inventory actions. Beyond the ABC analysis, which helps categorize items depending on their value and importance, there is another process that is critical in maintaining optimal inventory levels—the XYZ analysis. The XYZ analysis provides an additional layer of statistical analysis that is essential to optimizing inventory levels to prevent as many shortages as possible while also minimizing the amount of inventory being carried.
At LeanDNA, highlighting our Leaniacs’ successes is one of our great honors. It is with great pleasure that we announce that Astrid Hussonois, Senior Customer Success Manager, has been named a 2021 Women in Supply Chain Award Winner. Anyone who has worked with Astrid can speak to how deserving she is of this award and we are so proud that she has received this industry honor.
Successfully managing inventory can be difficult. There are many moving parts, from determining the level of inventory that should be kept to maintaining the inventory levels necessary to avoid shortages and excess inventory. While there are many ways to count inventory, cycle counting is one of the most efficient methods to prevent inventory shortages and target discrepancies between reported versus actual inventory.
At LeanDNA, we strive for collaboration and teamwork to create a safe space for innovation. We live and breathe our four core values, because our vision—to disrupt manufacturing by transforming every factory into a strategic force—wouldn’t be possible without our extraordinary Leaniacs. Beyond accomplishing business goals, LeanDNA continues to work towards being One Team and fostering collaborative and rewarding work environment.
Every month, we recognize the accomplishments of some of our teammates who embody LeanDNA’s core values every day in their work. Below are this summer’s value winners who not only embody these traits, but take them to a whole new level.
Increased sustainability can be extremely beneficial for manufacturers. A focus on sustainability can not only reduce costs, but can also create a more positive brand reputation. Manufacturers are using advanced technology more and more to reduce wasteful activities, build new efficiencies in their operations, and track sustainability goals across their organization. When it comes to optimizing inventory and building sustainable procurement processes, LeanDNA is a valuable resource in a supply chain team’s toolkit.
In today’s manufacturing landscape, understanding where your materials are coming from, and improving collaboration with those sources, is crucial for preventing shortages and navigating supply chain disruptions. In this blog, we break down vendor vs. supplier vs. distributor—and even talk about wholesalers as well—how they compare, and how manufacturers can improve collaboration.
Dealing with a shortage is no small task. While there is no “quick fix” for such a large problem, there are many ways manufacturers can prevent them from happening. Here are a few ways to prevent and reduce the risk of the most disruptive out-of-stock situations.
Oftentimes, the terms “shortage” and “stockout” are used interchangeably. But they are actually two different—yet extremely similar—things. To understand the difference, we must look at the two terms separately.
Shortages can mean trouble for many manufacturers, especially when the customer is waiting on a purchase. Some companies see this as “unavoidable.” Backorders might be common in a modern, complex supply chain; however, they don’t have to be.
At LeanDNA, we strive for collaboration and teamwork to create a safe space for everyone to innovate. We live and breathe our four core values, because our vision—to disrupt manufacturing by transforming every factory into a strategic force—wouldn’t be possible without our extraordinary Leaniacs.