LTD Management
Logistics & Supply Chain Management Consulting Global Solutions That Work

Integrated Inventory is the Ticket
BUSINESS SOLUTIONS

Small Business News Philadelphia
By THOMAS CRAIG
President LTD Management
www.ltdmgmt.com

Whether you are a manufacturer, wholesaler, retailer or other form of business, you must have an accurate picture of your inventory. This picture should be computerized. Inventory represents capital tied up, capital which can be used for other purposes. And inventory, along with freight, is one of those problems areas which can either be a problem or a symptom of a problem.

With the increasing emphasis and interest in supply chain management, continuous replenishment and justin-time programs, good inventory information is mandatory, not optional, for success in today's markets. Inventory control should be integrated into all company programs, customer service, sales, manufacturing, purchasing and logistics.

There are inventory control software packages available. Most use Automafic Data Collection (ADC) technology. Some form of bar code scanning is common for inputting inventory data.

To decide which package fits your needs, clearly define your requirements. Understand what you must have, not what it would be nice to have. Then look at the alternatives and your needs as to--