Video Podcast: Starting the Inventory Optimization Journey
One of our resident inventory optimization experts, Chris Russell, recently spoke with Greg Novitsky, global supply chain analyst at Celanese about the journey to optimize inventory. In this video podcast, Greg provides a veteran perspective on the multi-echelon inventory optimization (MEIO) journey and how Celanese has been able to reach the top of the MEIO maturity curve and achieve significant benefits.
This video podcast will be particularly interesting to supply chain organizations just starting down the highly worthwhile path to inventory excellence. Newcomers to MEIO often can’t appreciate how “big” an opportunity exists to boost service while reducing inventory. As Chris and Greg have seen, it’s a rewarding investment that can be measured in hard dollar ROI and expanded expertise for savvy supply chain professionals. Inventory Optimization can improve the quality of your S&OP process while boosting the efficiency of manufacturing operations.
Greg breaks down the right steps to take when initiating an inventory optimization program in terms of people, process, and technology. Crucial factors include recognizing how inventory cost accrues across the entire supply chain, finding the right people and tools, and understanding the details of your inventory. If you are considering an MEIO initiative or consider yourself an inventory optimization expert, this informative video podcast will help set you on the right path and inspire you to take the next step in your inventory optimization journey.
Recently, a colleague recounted a new consulting job he had undertaken a few years back. The client was struggling to make a large enough profit, whic
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