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10/28/2022

026. Balancing Customer Service, Inventory Investment and Profitability (afternoon)

Instructor: Matt Schreibfeder

Level of Complexity: Intermediate
1:30 PM - 4:30 PM

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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Strategic Pricing For Distributors: Tools and Rules for Building Higher Margins

Brent Grover

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Experience shows that most distributors are leaving at least two percentage points of gross trading margin on the table. This translates into 2% of total sales. Many companies can ultimately achieve more. The improvement is attainable fairly quickly and has proven to be sustainable. Two percent is the difference between mediocre profit results and stellar performance!

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