We are months into this recession and the discussion in now turning from the impending recession, to the impending recovery.
Managing a business during a slow down typically involves cutting costs. Victims of cost-cutting measures include travel, entertainment, benefits, salary increases, new hires, location closures, headcount, R&D, markets, and inventory. Each cost-cutting segment receives close scrutiny and involves managerial resources to evaluate and recommend the most effective means to survive the downturn.
Other businesses may take a different approach. These businesses see opportunity during a downturn to either gain market share through increased penetration and service, or through the acquisition of weaker competitors.
Regardless of the approach, each business must execute an effective strategy that achieves the goal set forth. Equally important, if not more so, is the effectiveness to which a business executes a strategy during an economic recovery. Entering new markets or gaining market share may require increasing headcount or opening new locations. It may also include inventory proliferation or realigning inventory levels to meet new challenges during the recovery.
The development of an effective strategy may also require an investment in business applications. Enterprise Resource Planning applications are perfectly capable of managing transactions (financial, accounting, orders, operations, etc). Where there is often a gap is being able to analyze and gain visibility of the data on an enterprise-wide, or business-segment scale. This type of functionality can be found through a business intelligence solution. Often these solutions can provide insight that was never before possible with prior resources.
Gaining intelligence about the performance of a business can help shape the strategy for either a slowdown or a recovery. The important aspect of this is that building a strategy is part art and science. The art is in the human-based knowledge that can not be quantified. The science is in the data. Being able to construct a strategy based on data is where a tool like business intelligence can play an important role.
Feel free to visit www.tclogic.com for additional information about inventory optimization and how to effectively reduce inventory while protecting critically high service levels.
Showing posts with label reduce inventory. Show all posts
Showing posts with label reduce inventory. Show all posts
Wednesday, March 25, 2009
Tuesday, February 10, 2009
Recessionary Times Require New Approaches to Inventory Management
With our economy in crisis, firms that hold large amounts of inventory are focusing efforts at squeezing as much cash as possible out of this valuable asset in order to improve the performance of working capital. While care must be taken to prevent cutting inventory with a hatchet, there are technology tools available to help use a scalpel to reduce inventory without negatively impacting service levels.
Inventory optimization is such a tool that takes in to account what drives and impacts the performance of inventory. These drivers are normally dynamic variables that can change on any given week or month. What's driving the performance of inventory is quite different among firms. One might be heavily dependent on lead times, another will be dependent on demand behavior.
Given the thousands of SKU's that are managed across a network of multiple loations, this can be a complex process. Luckily with inventory optimization, this solution can remove the levels of complexity that exist in a supply chain. At TCLogic, we like to say, "Inventory intelligence that gets results." The intelligence lies within the current business systems, or ERP. The results achieved are after the intelligence is harvested, analyzed, and optimized stocking strategies developed. Our customers often gain results such as reducing inventory by as much as 30% while achieving targeted service levels above 98%.
Feel free to visit www.tclogic.com for additional information about inventory optimization and how to effectively reduce inventory while protecting critically high service levels.
Inventory optimization is such a tool that takes in to account what drives and impacts the performance of inventory. These drivers are normally dynamic variables that can change on any given week or month. What's driving the performance of inventory is quite different among firms. One might be heavily dependent on lead times, another will be dependent on demand behavior.
Given the thousands of SKU's that are managed across a network of multiple loations, this can be a complex process. Luckily with inventory optimization, this solution can remove the levels of complexity that exist in a supply chain. At TCLogic, we like to say, "Inventory intelligence that gets results." The intelligence lies within the current business systems, or ERP. The results achieved are after the intelligence is harvested, analyzed, and optimized stocking strategies developed. Our customers often gain results such as reducing inventory by as much as 30% while achieving targeted service levels above 98%.
Feel free to visit www.tclogic.com for additional information about inventory optimization and how to effectively reduce inventory while protecting critically high service levels.
Tuesday, April 29, 2008
TCLogic Named a Top 100 Logistics IT Software Provider for 2008
Leading provider of inventory optimization solutions selected by Inbound Logistics Magazine for its annual review of software vendors.
TCLogic, a leading provider of inventory optimization solutions, announced today that it has been named by Inbound Logistics Magazine as a Top 100 Logistics IT Provider for 2008. TCLogic is listed among other best-of-breed and end-to-end solution providers for the supply chain technology market.
“The editorial staff worked long and hard to select 100 technology solution leaders from the 300+ candidate pool,” stated Felecia Stratton, Editor of Inbound Logistics. This is the first year that TCLogic has received this prestigious award.
“This recognition is further testament to the value we provide for our clients,” Tom Uhrig, president of TCLogic. “Especially in a down economy, companies are eager to identify and implement cost reduction opportunities. One of the best opportunities for reducing costs is through the reduction of inventory. We help companies gain a greater return on this valuable asset by providing intelligence about the performance of their inventory. With this intelligence, companies can make smarter decisions about where to invest their inventory dollars that facilitate the reduction of inventory while maintaining critically high service levels.”
TCLogic delivers web-based software solutions for inventory optimization and planning. TCLogic addresses the unique challenge of inventory management in distribution-intensive operations that enable clients to achieve the optimal balance between service level commitments and inventory levels.
About TCLogic
Since 1997, TCLogic has helped manufacturers and distributors solve their inventory dilemmas and achieve bottom line results. TCLogic’s solution, ROI+, bridges the gap between corporate strategy and execution. It directly impacts a company’s balance sheet by reducing inventory carrying costs while meeting or exceeding a targeted customer service level. Please visit www.tclogic.com for additional information.
TCLogic, a leading provider of inventory optimization solutions, announced today that it has been named by Inbound Logistics Magazine as a Top 100 Logistics IT Provider for 2008. TCLogic is listed among other best-of-breed and end-to-end solution providers for the supply chain technology market.
“The editorial staff worked long and hard to select 100 technology solution leaders from the 300+ candidate pool,” stated Felecia Stratton, Editor of Inbound Logistics. This is the first year that TCLogic has received this prestigious award.
“This recognition is further testament to the value we provide for our clients,” Tom Uhrig, president of TCLogic. “Especially in a down economy, companies are eager to identify and implement cost reduction opportunities. One of the best opportunities for reducing costs is through the reduction of inventory. We help companies gain a greater return on this valuable asset by providing intelligence about the performance of their inventory. With this intelligence, companies can make smarter decisions about where to invest their inventory dollars that facilitate the reduction of inventory while maintaining critically high service levels.”
TCLogic delivers web-based software solutions for inventory optimization and planning. TCLogic addresses the unique challenge of inventory management in distribution-intensive operations that enable clients to achieve the optimal balance between service level commitments and inventory levels.
About TCLogic
Since 1997, TCLogic has helped manufacturers and distributors solve their inventory dilemmas and achieve bottom line results. TCLogic’s solution, ROI+, bridges the gap between corporate strategy and execution. It directly impacts a company’s balance sheet by reducing inventory carrying costs while meeting or exceeding a targeted customer service level. Please visit www.tclogic.com for additional information.
Monday, February 11, 2008
Nationwide Distributor Selects TCLogic for Improved Inventory Management and Optimization
TCLogic, a leading provider of inventory optimization solutions, announced today that a nationwide distributor has chosen to implement TCLogic’s ROI+ inventory optimization and management solution, setting the stage for reducing their inventory, while maintaining their current high service levels.
The distributor has an extensive nationwide network that distributes product through modern facilities across the country. They maintain a large inventory investment and are one of the largest distributors in the country for their sector.
When the distributor began searching for a software tool, they looked for a company that would help reduce their inventory while also helping them maintain their already critically high customer service levels. According to the distributor’s project manager, they were most impressed with TCLogic and their staffs’ ability to push through the clutter to get to the heart of their business and work within the current business processes.
As a software solution, ROI+ is designed to enhance and supplement existing ERP applications, providing a comprehensive set of tools that analyze and create strategies to improve the monitoring and reporting functions of current inventory software, helping businesses make more informed and successful decisions about their inventory and purchasing practices.
The cost of doing business continues to increase; having the right stock, at the right time, in the right place and quantity is key to the success of a company’s business and their customers business. “The right combination can free up available cash, reduce expenses and help businesses be more successful,” indicated Tom Uhrig, president, TCLogic. “ROI+ is an ideal solution for companies that have unique and varied distribution networks. Many companies we work with see reductions of inventory by 10-30%, and increase or maintain their service levels to 98.5%+; all with a return of investment in 6-12 months.”
With four distribution centers currently utilizing ROI+, the distributor has plans to broaden implementation to their remaining distribution centers in the Midwest, California, Mexico and Puerto Rico. One of the main concerns for the distributor in implementing an inventory optimization solution was if they didn’t get it right the first time, their staff wouldn’t use the new system. But those concerns were completely put to rest as they worked with TCLogic and their staff during the implementation.
The distributor’s primary goal in implementing ROI+ inventory optimization was increasing inventory turns, but they soon discovered a secondary benefit after implementation. They found that with ROI+, their sales teams and material managers became more in sync with their company inventory needs, providing their sales team with less administrative work and more time to focus on sales.
TCLogic’s customer-centric approach worked well with the distributor, helping to customize the solution to fit the distributors individual needs and requirements. In addition, TCLogic’s staff has been on hand to quickly respond to questions and or issues relating to the software, and how it works with the distributor’s current business practices and rules.
About TCLogic
TCLogic, headquartered in Indianapolis, is a leading provider of solutions for inventory optimization and planning. TCLogic enables distribution intensive clients to achieve an optimal balance between customer service commitments and inventory levels. Since 1997, TCLogic has helped manufacturers and distributors throughout the country solve their inventory dilemmas and achieve bottom line results. For more information, visit www.tclogic.com or call 800.945.4877.
The distributor has an extensive nationwide network that distributes product through modern facilities across the country. They maintain a large inventory investment and are one of the largest distributors in the country for their sector.
When the distributor began searching for a software tool, they looked for a company that would help reduce their inventory while also helping them maintain their already critically high customer service levels. According to the distributor’s project manager, they were most impressed with TCLogic and their staffs’ ability to push through the clutter to get to the heart of their business and work within the current business processes.
As a software solution, ROI+ is designed to enhance and supplement existing ERP applications, providing a comprehensive set of tools that analyze and create strategies to improve the monitoring and reporting functions of current inventory software, helping businesses make more informed and successful decisions about their inventory and purchasing practices.
The cost of doing business continues to increase; having the right stock, at the right time, in the right place and quantity is key to the success of a company’s business and their customers business. “The right combination can free up available cash, reduce expenses and help businesses be more successful,” indicated Tom Uhrig, president, TCLogic. “ROI+ is an ideal solution for companies that have unique and varied distribution networks. Many companies we work with see reductions of inventory by 10-30%, and increase or maintain their service levels to 98.5%+; all with a return of investment in 6-12 months.”
With four distribution centers currently utilizing ROI+, the distributor has plans to broaden implementation to their remaining distribution centers in the Midwest, California, Mexico and Puerto Rico. One of the main concerns for the distributor in implementing an inventory optimization solution was if they didn’t get it right the first time, their staff wouldn’t use the new system. But those concerns were completely put to rest as they worked with TCLogic and their staff during the implementation.
The distributor’s primary goal in implementing ROI+ inventory optimization was increasing inventory turns, but they soon discovered a secondary benefit after implementation. They found that with ROI+, their sales teams and material managers became more in sync with their company inventory needs, providing their sales team with less administrative work and more time to focus on sales.
TCLogic’s customer-centric approach worked well with the distributor, helping to customize the solution to fit the distributors individual needs and requirements. In addition, TCLogic’s staff has been on hand to quickly respond to questions and or issues relating to the software, and how it works with the distributor’s current business practices and rules.
About TCLogic
TCLogic, headquartered in Indianapolis, is a leading provider of solutions for inventory optimization and planning. TCLogic enables distribution intensive clients to achieve an optimal balance between customer service commitments and inventory levels. Since 1997, TCLogic has helped manufacturers and distributors throughout the country solve their inventory dilemmas and achieve bottom line results. For more information, visit www.tclogic.com or call 800.945.4877.
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