Inventory Management - All Posts - Ze'ev Ronen - Business Excellence

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How to work with the Pareto principle these days

Assuming the company sells 20 products, the items are listed from the products generating the highest profit at the top of the list to the products generating the lowest profit at the bottom of the list. According to the Pareto principle, there is a good chance that the first four products on the list produce around 80% of the company’s revenues. If we focus on improving the profitability of these four products, we will achieve substantial improvement of the company’s profitability in an effective way.

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Important KPIs to run a business – part III: Supply Chain

The current series of articles focuses on the important KPIs every business must monitor. I have already written many articles regarding this very important issue. However, this article focuses on shortly presented Supply Chain KPIs.

1244 Views

Toyota's Second Principle: Create a Flow to Raise Problems to the Surface

Aviv was the owner and CEO of a company, and led marketing and business development. Most sales and growth were in overseas markets, and Aviv personally managed activity in key countries. He spent a lot of time on marketing trips and knew all the overseas clients and distributors.

5332 Views

Subtraction – A Tool of Systematic Inventive Thinking (SIT) Method

The subtraction used by Itamar isn’t only of a key or other accessory whose role in opening the door is eliminated. The essence is simple and smart management of the right to open the lock and enter a home, club, center, pool, etc. Instead of the subtracted key, the system utilizes an accessory most of us already have: a smartphone. I believe anyone managing a community center or using one often appreciates Nemlock's use.

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4 Important Performance Indicators to Know

Recommended frequency for discussion of indicators: I recommend all indicators' results be discussed by management once a month. At least once a week, they should be discussed in dedicated improvement teams with the relevant manager (operations, sales, finance, marketing, etc.) or their representative. Some indicators should be shortly analyzed daily, as needed.

1458 Views

How Often Should Teams Meet to Discuss Analysis and Improvement Schemes

When the team deals with sales development or debt collection, there is almost no new information on a daily basis, and so there's no need to meet daily. But work on the production floor is continuous and at the very least daily. So there are new developments every day. Should results be analyzed daily? Weekly? Monthly?

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How to Manage Dead Inventory and What You Can Get Out of a Yearly Inventory-Check

Dead inventory is accumulated by many companies. Most often it will consist of mistakenly-ordered raw materials, or excess materials which "were on sale", or that have become redundant due to product changes. Doesn’t It Make More Sense to Get Rid of Dead Stock?

1793 Views

Inventory Management and Using the Inventory Adequacy Indicator

When Nestle delved into daily performance in Osem (at the time I managed a large profit center), they showed us, for the first time, the need to measure how many unites were counted in inventory checks in the field, compared to data in the company's digital records.

3510 Views

How to move from concern to influence, or how to take responsibility for results

Ron works in a senior position at a major company and was in charge of arranging a very important tour with the Minister of Commerce at one of the projects managed by the company. The visit was important to the company, but to Ron it was even more significant. He viewed the success of the visit as a personal test and an opportunity to position himself better in the eyes of the company CEO.

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What is the Kanban system and how can it help us both in our businesses and at home?

Just keep one spare tube in the drawer. When the current one is finished, take out the new one, take it out of its box, but don't throw the box away. Place the empty box in the same place as your shopping list, as a reminder of what you need to buy. By the time you use up the present tube of toothpaste, you will have bought a new tube on a routine shopping trip at the drug store or supermarket.

1711 Views

Just in Time Inventory Management – is there such a thing?

 The CEO of that company led the business and marketing development and wanted to ensure that they would never lack product to supply orders, and therefore their warehouses were full of product that turned out to be defective.

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