Attaining Inventory Record Accuracy

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FastTrack to Results Webinars —

Attaining Inventory Record Accuracy

Improving your inventory record accuracy has financial benefits.

For most companies, inventory is their greatest short-term asset. Having inaccurate records ties up cash and may reduce profits. Roger Brooks will discuss critical steps to take to improve your inventory record accuracy in 30 to 45 days and make a direct impact on your bottom line. This webinar focuses directly on quick payback methods to improve your inventory record accuracy.

You will learn to prioritize actions to get quicker results including:

  • How to measure inventory record accuracy and what the minimum accuracy requirement is to support an effective and productive planning and control system.
  • The effects of tolerances in the measurement process.
  • The three-step process for creating and maintaining inventory record accuracy.
  • How to target the quick-hit, biggest payback corrections.

The benefits of accurate inventory records include these cash and cost fixes:

  • Reduction of the just-in-case inventory
  • Elimination of the annual physical
  • The end to costly, time-wasting material chasing
  • Elimination of surprise stock-outs halting production and then leading to overtime
  • Reduction of premium freight and supplier surcharges to recover from the errors
  • Avoidance of crippling errors in the now, more prevalent make-to-demand environments
  • Putting confidence back in to your planning and control system.
  • Satisfaction of a SOX requirement.

With a small time investment, you can:

  • See what other successful companies have done to create and maintain accurate inventory records.
  • Gain a better understanding of why inventory record accuracy programs have not been successful.
  • Establish a FastTrack project plan to quickly establish and maintain accuracy.

Presenter:

Roger Brook

Moderator:

Susan Hansen