Inventory and Warehouse Management Solutions
Ontracks uses a data driven analysis to understand the inventory and warehousing requirements of your business and compares that to your current situation. This will allow us to optimize your inventory, free up working capital and warehouse space, and increase productivity. We perform detailed anaylsis for MRO inventory, finished goods inventory, and warehouse productivity while considering the important factors to your business, such as: industry, market conditions, locations, data availability. We will work with you to assess the right analysis based on your current situation and paint points.
- Identify possible dead stock and excess inventory that maybe disposed and recoup salvage value
- Identify the products that should be stocked in each storeroom
- Usage history, including unusual activity
- The accuracy of your forecasting of future demand of products
- Establishing Minimum, Maximum, and Economic Reorder Points
- Current versus target inventory investment and turnover
- Inventory ranking (by cost, turnover, etc)
- Where should items be stocked (ABC analysis)
- Should the warehouse be closed or open
- Item picking accuracy
- Average time to issue parts
Our consultants have executed hundreds of engagements and have used this experience to develop a framework for Inventory and Warehouse Management. This framework includes a catalogue of leading processes for Asset Management, Inventory Management, Warehousing, and Purchasing. In situations of compressed timeframes or greenfield sites, our clients have purchased this catalogue to use as a starting point for future state processes and decrease the time and consulting costs.
Our catalogue of leading processes for Inventory and Warehouse Management includes:
- Identifying material requirements from planned work
- Managing item catalogues
- Managing reservations
- Executing inventory cycle counts
- Reordering stocked items
- Managing shrinkage
- Issuing materials
- Receiving materials
- Stocking items
- Preparing job kits for planned work
- Transferring stock
- Manager surplus stock