Having too much inventory can be just as bad as having too little inventory. PM2 will help you set appropriate min/max and reorder points and design an effective inventory optimization plan. PM2 can identify what you have, what you need, and how much of it you need to drive optimal use of your inventory dollars and increased operational efficiency.
Inventory optimization is having the right amount of inventory where you need it and when you need it, but how do you really know what that amount is, what that location is, or what that timing is?
PM2 can help you determine how much inventory you need, where it should be located, and when you need to order more (or dispose of more), so you can optimize your inventory levels.
Enterprise Inventory Sharing
When you are managing inventory across the enterprise, you have the opportunity to
share that inventory across multiple locations, but if you don’t really know what you have or where it is, you may be tying up more money in inventory or inventory processes than you need to.
PM2 can help you identify where your inventory is located (physically and in your data system), when it makes sense to restock locally or ship internally, and increase look-up accuracy and speed.
Excess/Obsolete Management
We find that most clients own twice the inventory that they think they have and four times as much as they need. How do you know what is excess and what to do with it once it is identified?
PM2 can help you identify and manage your excess and obsolete inventory.
Critical Spares Management
Cutting inventory is good… usually, but cutting the wrong items, or those that are critical to keeping your business running, is a mistake no one wants to experience. Downtime is costly. Not being able to find a critical item during a breakdown is more than just embarrassing. It could be a career killer.
PM2 can help you identify critical spares, tag them appropriately, and properly represent them in your database so you can find them when the chips are down.
Inventory Optimization
