Polaris MEP Project Manager Ted Kennedy’s advice on inventory control is helping manufacturers beyond Rhode Island, thanks to a by-lined article in IndustryWeek.
On July 5th, IndustryWeek, the leading trade magazine for the sector, published Kennedy’s thoughts on how a “plan for every part will help attain both low inventory dollars and high customer on-time delivery.”
Kennedy’s recommendations included several steps.
- Gather Data on Every Part You Purchase
- Classify Your Inventory By the ABC System
- Develop an Approach for Creating Buffer Stock for Inventory
- Establish Minimum Inventory Quantities for Each Part
- Track the Quality of the Parts and Supplier Reliability
- Connect With Your Local MEP Center For Help Controlling Inventory Levels
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