Sites:
Home > Technical Library

Appendix B: Data Collection Questions

By Phillip Slater
From Smart Inventory Solutions: 7 Actions for MRO and Indirect Inventory Reduction

Organization

  1. How many stores locations are there in this company/on this site?

    • Check for different businesses/divisions and different store types.

  2. How is inventory classified and organized?

    • Machine/process

    • Type: mechanical or electrical

    • Active, inactive, obsolete

    • A, B, C

  3. What are the organizational structure and responsibilities for inventory?

    • Draw out organizational chart to whom does this function report?

    • What is the relationship with purchasing/supply?

    • What are the responsibilities for both financial and customer promise outcomes?

  4. What training in stock management have the inventory personnel received?

  5. Is the staff remuneration linked to inventory performance? How?

Management and Control

  1. How are items added to inventory and how is the recommended holding determined?

    • Max-Min

    • Reorder point

    • Reorder quantity

    • Safety stock

    • History

  2. What process is used to review stock holding targets and when were the targets last reviewed?

    • Cycle count

    • Order by order

    • Usage analysis

  3. Is there a quality system for inventory management?

  4. Does your computer system only record stock movements or is it also used to control stock quantities?

  5. What approach is used to value stock

    • Average

    • Latest price

    • FIFO/LIFO

  6. How is the stock level and availability controlled?

    • Max-Min

    • Visual management

    • Cycle count

    • A,B,C classification

  7. How is obsolescence managed?

  8. How are item movements recorded?

    • Is this system followed?

  9. Who has access to the store?

  10. What KPIs are used to monitor stores performance?

    • Availability/service level

    • $ Value

    • Turnover

    • Stock turns

  11. What is the current value of these KPIs, actual vs. budget?

  12. How and to whom are these KPIs reported?

  13. How is the availability policy set?

  14. What current...

Copyright Industrial Press Inc. 2007 under license agreement with Books24x7
Products & Services
Supply Chain Management Software (SCM)
Supply chain management software (SCM) is used to track and monitor products and services.
Warehouse Management Systems (WMS)
Warehouse management systems (WMS) are used to manage the movement and storage of materials in a warehouse.
Inventory Control Software
Inventory control software is used to manage stock levels, record physical inventories, and track trends in item movement and location.
Manufacturing Support Software
Manufacturing support software is used in shop floor, process, tool and maintenance management.
Automated Storage/Retrieval Systems (AS/RS)
Automated storage/retrieval systems (AS/RS) are automated systems that store and retrieve products from an inventory location. They are used for unloading, sorting, put-away, storage, order-picking, staging, and loading.
Topics of Interest

Overview Just to show that this approach really works, consider this example. This organization had suffered the yo-yo effect of optimization. One consulting group after another came and went, each...

Overview Key performance indicators or KPIs are used to track the performance of a business process. However, organizations today are tracking too many superfluous KPIs. KPIs are only valuable if...

Overview Set the direction Identify objectives and targets Manage stock value How to value and depreciate inventory Where stock control fits into the organization Nowadays...

Action #3: Eliminate Duplication The third action relating to 'taking more out' is to eliminate duplication. By definition, duplicated items add no value and so should be a prime candidate for...

As the storeroom stock is utilized, it becomes necessary to restock items. There needs to be a process for reordering items, whether they are stock or non-stock items. This chapter will concentrate on...