As any manufacturing manager knows, supply chain management can be challenging at times. The amount of tracking involved in the movement of inventory and stock can cause headaches and if the stock levels are not accurate, then forecasting can be just as tough. Many manufacturing managers are struggling to cope with the vast amounts of information […]
Commonwealth Industrial Services (CIS) provides major services in Hopewell, Virginia, which include competitive services such as rail reloading for CSXT and Norfolk Southern Rail lines. CIS is a major distribution point for Honeywell, which includes mainly Caprolactam pallets.
Ever wonder how retail giants like Wal-Mart can keep track of so much merchandise, not to mention keep their promise of maintaining low prices? The biggest secret behind this and other major retailers’ success stories is that they use an inventory management system. This way, the managers know which items are selling and which ones aren’t, so they can spread the word to their warehouses and prevent them from supplying either too much or too little. When your store boasts a tremendous selection of goods, maintaining inventory must be done as efficiently as possible.
Companies who want to survive in the ever competitive business landscape really need to focus on the long term horizon. Cutting back on investments for innovation and research and development in order to prop up short term profits no longer can be the status-quo. The lack of innovation in creating new products and services and improving existing ones will surely commoditize your product line and will cause you and your competitors to compete by racing to the bottom line on price alone. Seth Godin, author and entrepreneur said it best, "we sell what they sell, but cheaper. A commodity business always lives on the knife edge of cheaper."
There are advantages to replacing older inventory control systems with better warehouse inventory management systems. The warehouse operator can have greater control over inventory levels –virtually eliminating wastage while ensuring correct receipt and dispatch times. A good inventory management system can result in significant reduction in operating expenses and improved customer service.