Inventory Management

Make sure you have the right stock at the right place at the right time.

Inventory management provides systems and processes that define stock requirements, including inventory location, restocking and reordering, transportation and reporting of projected inventory levels versus actual inventory levels. With proper inventory management, you will be able to determine adequate levels and handling inventory with respect to your stock requirements.

Proper inventory management will allow you to keep the correct amount of stock on hand and reduce the minimum amount of stock required to maintain optimal service levels for your customers.

enVista’s inventory optimization process involves accurately allocating your inventory across your supply chain channels, evaluating your supply and demand volatility to determine optimal safety stock levels to reduce overall inventory levels, reduce capital holding costs and maintain or improve service levels to your customer.

With inventory management, you will see optimized inventory levels to match the needs of your business. This allows you to leverage inventory performance increases and changing product flows which can reduce stock levels to address issues of overcrowded warehouses, poor cash flow and obsolete inventory. You will be able to utilize our in-house modeling tools that determine optimal inventory positioning down to the SKU-level based on push and pull boundaries, supply and demand variability, velocity class (ABC) and other factors.

Inventory management will help you determine optimal product position in the network in order to maintain service level but reduce overall holding cost of inventory. Importantly, this allows you to understand the cost of inventory held relative to the sales of product.

Inventory precision and positioning involves accurate allocation across shelves and channels, safety stock evaluation, improved velocity, reduction of supply and demand variability and inventory positioning based upon push and pull boundaries.

When a retailer has its inventory house in order, out of stocks are reduced, carrying costs are minimized, fulfillment speed increases and gross profit margins (GMROI) are preserved.

Meet Our Industry Expert

Davison Schopmeyer

Meet Our Industry Expert

Davison Schopmeyer is a Senior Managing Partner of enVista’s Consulting practice and COO of the company. Davison brings more than 25 years of experience in leading strategy, consulting and software implementations that drive value to the bottom line. At enVista, he is responsible for the consulting practices across all practices across all areas in Supply Chain, ERP, and CRM. He strives to gain the most value for clients from strategies and software in implementations.

Meet Davison Schopmeyer

Ask An Expert

Meet Davison Schopmeyer

Ask An Expert

Our approach to inventory management begins with understanding customer demand and working upstream in the supply chain, holistically capturing relevant factors from all areas of the company – including sales, transportation, warehousing, purchasing and manufacturing.

The first step to this optimization process is our Inventory Assessment. During this quick and inexpensive step, enVista team members will spend one to two days at the client site deploying enVista’s Three Actuals process, observing the company’s actual place, actual processes, and actual people. The team will look at the forward purchase order and inventory files, as well as inventory snapshots year-over-year.

At the end of the engagement, the client will be given: (1) the CV by SKU, (2) recommended cycle stock and safety stock levels by SKU, and (3) presentation quantities and minimums and maximums for the warehouse and store shelf. The enVista team will recommend how to change inventory days on hand, resulting in cuts to the inventory on hand and real dollar savings.

We will determine accurate allocation across store shelves and sales channels, safety stock evaluation, correct ordering policies, improved velocity, managing supply and demand variability and inventory positioning based on push and pull boundaries.

Why enVista?

By taking a holistic global optimization philosophy, we have achieved large reductions in inventory and huge improves optimizing inventory flow for our clients.

Our approach uses Lean tools and ongoing Lean Process Improvement Teams as well as analytics from traditional spaghetti diagrams or quick-hit Kaizen events. These tools help quantify and map the value stream. They help create data driven solutions that build on consensus, understanding and true value-added factors. We provide education, training and tools so you can continue to eliminate waste wisely and optimize inventory, while strengthening your best practices, unique cultures and positive customer experience.