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10/28/2022

019. Balancing Customer Service, Inventory Investment and Profitability

Instructor: Matt Schreibfeder & Jon Schreibfeder

Level of Complexity: Intermediate
8:00 AM - 11:30 AM

The goal of effective inventory management is to meet or exceed your customers’ expectations of product availability with the amount of each item that will maximize your profitability. In this workshop, you will learn more tactics to help you understand your customers’ needs, develop and maintain a realistic budget for your investment in stock inventory, understand how to buy at the lowest “total cost”, and utilize meaningful profitability measurements. Your presenters will also demonstrate how to maximize the productivity and profitability of your largest asset: stock inventory.
 
Key elements will include: accurately forecasting future demand of products, managing anticipated lead times in a time of supply chain chaos, an explanation of the key elements in a replenishment system, determining customer service level goals for various segments of your inventory, analyzing whether you should take advantage of vendor offers, and key metrics of inventory and customer service performance.

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Achieving Effective Inventory Management – 6th Edition

Jon Schreibfeder

Sixth Edition CoverAchieving Effective Inventory Management, 6th Edition, based on our most recent research and up-to-date “best practices”, provides a complete guide for managing a large and often troublesome asset: inventory.

The economic challenges facing distributors today have resulted in EIM conducting a thorough review and update of the entire 5th edition. This update, coupled with discussions regarding the impact and adjustments that the current economic challenges have produced in all areas of inventory management, has produced our new 6th edition.

This book helps you achieve the goal of effective inventory management — to meet or exceed customers’ expectations of product availability with the amount of each item that will maximize your organization’s net profits or minimize its total inventory investment.

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