Inventory Management Consulting Services
Low stock leads to slow delivery times and poor customer service.
Too much stock clogs up the warehouse and ties up capital.
We’re here to help you balance customer service and profitability through excellent Inventory management.
For Inventory Optimisation Consulting:
For Small to Medium Enterprises, managing inventory can be a massive headache. Whether due to a lack of resources, skills, or systems, poor inventory management has a significant impact on overall performance and service, negatively affecting customer service or tying up capital. These issues are reflected in sales and overall profitability, which are processes are designed to identify and fix.
We address a range of inventory management issues, including:
- Inaccurate inventory records
- Slow-moving and excess inventory
- Stock-outs and dissatisfied customers
- Inefficient warehouse operations
- Suboptimal purchasing processes
Our inventory management consultants work closely with you to identify areas for improvement and implement effective solutions.
Our services encompass:
- Evaluating and upgrading inventory management systems
- Optimizing supply chain management
- Implementing cycle counting and inventory tracking
- Improving order fulfillment and reducing delivery times
- Balancing stock levels with customer demand
By focusing on these key areas, we help you achieve cost savings, improve customer satisfaction, and set the stage for future growth.
We don’t just provide recommendations – we can partner with you to implement changes and track improvements. Our approach leads to:
- Reduced working capital tied up in inventory
- Improved inventory turnover
- Enhanced operational efficiency
- Increased customer satisfaction
Let our inventory management consulting services transform your inventory challenges into opportunities for improved performance and competitive advantage.
When Inventory Management function is not performing well, the typical impacts you’ll see are:
- Poor customer service performance due to stock outs.
- Too much old/obsolete stock (and warehouse getting clogged up).
- Higher than expected investment in inventory (stock).
- Low turnover of inventory (stock turns).
Our inventory management consulting services help businesses overcome common inventory challenges and improve operational efficiency.
How Our Inventory Consultants Can Help
Streamlining Your Processes
Our consultants use advanced inventory management systems to simplify your inventory processes. We create customised plans to improve inventory accuracy, stock levels and KPIs. By using latest technology and real-time visibility we help you make informed decisions, reduce waste and meet customer demand without stockouts and excess stock.
Reducing Your Costs
Inventory optimization is usually focussed on cost reduction without compromising service levels. We look at your holding costs, carrying costs and lost sales to develop inventory management strategies. By optimising inventory levels, we help you reduce waste, minimise obsolete inventory and increase profitability, with a goal to help you improve overall efficiency.
Implementing the Best WMS
With our decades of experience, we’ll help you select and implement the right Warehouse Management Software (WMS) for your business. Technology integration is key to inventory management, and our expertise means we can implement advanced inventory management systems, often including ERP solutions. We can give you ongoing support to get the most out of your new WMS and inventory operations.
Benchmarking Your Performance
Our inventory consultants will help you set and track key performance indicators (KPIs) to measure your inventory success. We use industry benchmarks, historical data and predictive analytics to measure your current performance and set realistic targets. By monitoring these metrics we’ll help you make data driven decisions, identify areas for improvement and ensure your inventory strategies are aligned to your business goals.
Network Design
We optimise your distribution network to improve product flow and reduce lead times. Our experienced consultants look at your supply chain operations, taking into account demand volatility and seasonal fluctuations. We can help you to design a network that balances inventory across locations, minimises transport costs and improves overall logistics. Plus, our solutions will tailored to your business, meaning that it’ll be entirely suited to your supply chain needs.
Supply Chain Optimisation
In truth, supply chain optimisation goes beyond inventory management, but it’s an integral part of it. We look at your entire supply chain from raw materials to end customer to find opportunities to improve. By combining demand forecasting, ABC analysis and safety stock strategies we help you optimise inventory, reduce costs and improve customer satisfaction.
Industry Inventory Benchmarks
Here are the industry standard benchmarks for finished goods stock turns:
- Pharmaceutical sector: Above 8
- Manufacturers: Above 15
- Suppliers to Retail: Above 10
- Industrial Suppliers: Above 9
- Distributors: Above 8
- Food and Beverage (Ambient): Above 20
- Food and Beverage (Chilled & Frozen): Above 18
If you’re not close to these numbers, if you’re overstocked, or your delivery times are slow, we can help you identify and solve the underlying problems.
SME Inventory Management Audit
Our SME Inventory Management Audit is designed to identify your major inventory issues, the root causes, and provide you with guidance and a roadmap to better performance.
Conducted within 2-3 weeks at a cost of under $10,000 + GST, our approach will give you the following benefits:
- Inventory ABS analysis to establish through-puts and criticality of products.
- Review of forecasting and inventory management processes and systems.
- Review of Supplier reliability impact on inventory holdings.
- Review of demand offtake and seasonality.
- A tailor made Key Performance Indicator report to manage Supplier relationships moving forward.
- A customised roadmap to improved inventory performance.
- A 2-hour workshop with selected staff to explain and impart the performance improvement roadmap.
- Membership to our 12-month online Supply Chain Education Program (valued at $800) for up to four staff.