Having a full understanding of your key vendors and their ability to fulfill commitments is a key element to inventory management. While the physical layout of the warehouse is important along with scanning, RFID and other advanced technology, it is all for naught if the inventory does not arrive on-time and in excellent condition and at the anticipated price. Our experience has been this question is the one that is most frequently passed over.
For you to meet your customer service commitments, your supplier’s on-time delivery performance is critical. Analysis should obviously include required delivery dates, but also purchase order acknowledgement, backorders, errors, communication, and product quality. Appropriate lead-times must be in place for measurement to be taken. These lead-times must take into consideration “customary” size and time of orders.
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