Something insidious seems to have happened as I have got older. The world as seen through the prism of popular culture continues to be dumbed down. Stupid seems to have become mainstream. This appears to have occurred both in general and business society. Now, it may well be that I am just becoming one of the grumpy old men from The Muppet Show. I offer the following for you to judge.
How To Forecast Intermittent Demand
Do your products exhibit intermittent demand patterns? I bet that anyone who is a capital goods manufacturer or service parts inventory manager has wrestled with this common and costly inventory management problem.
The Theory of Constraints
The Theory of Contraints (TOC) essentially is a managerial philosophy that focuses on helping managers identify impediments to their goal(s) and effect the changes necessary to remove them. In his best-selling business book The Goal, Dr. Eli Goldratt, the founder of TOC, says the essence of management is determining the answers to three questions:
Strategies For Trimming Inventory Carrying Costs
Each year, Asian companies spend an estimated $400 billion on logistiocs services. While most of that money is well spent, some 40 percent of it isn’t adding value becaue it falls under the line item of inventory carrying costs. In logistics terms, inventory carrying cost is the money a manufacturer has tied up in raw materials, work in progress, and finished goods, which includes materials and products in storage, transit, and production.
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