Executive Briefings

Managing People and Systems Is Key to Proper Inventory Management

Managing inventory requires skillfully balancing a variety of complicated and competing objectives. Supply management professionals responsible for inventory have to control inventory holding costs, such as warehousing and financial opportunity costs, while pursuing cost savings that may be obtained with larger purchases. They also simultaneously support ambitious customer service levels for a constantly expanding product portfolio. Of course, supply managers who focus on inventory know these pressures well.

Managing People and Systems Is Key to Proper Inventory Management

To help manage inventories effectively, supply management organizations invest in people, processes and technology. Investing in people includes determining overall staffing levels and balancing experienced and new hires. It also involves investing in ongoing training and education. Process and technology investments often take the shape of implementing new software systems or modules as well as re-engineering business processes, and establishing and measuring KPIs.

These investments can improve performance, but truly outstanding performance will elude supply management organizations if they do not understand and manage the interaction between people and systems.

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Keywords: warehouse management, WMS, inventory management, logistics management, logistics services, warehousing employees, warehouse control systems

To help manage inventories effectively, supply management organizations invest in people, processes and technology. Investing in people includes determining overall staffing levels and balancing experienced and new hires. It also involves investing in ongoing training and education. Process and technology investments often take the shape of implementing new software systems or modules as well as re-engineering business processes, and establishing and measuring KPIs.

These investments can improve performance, but truly outstanding performance will elude supply management organizations if they do not understand and manage the interaction between people and systems.

Read Full Article


Keywords: warehouse management, WMS, inventory management, logistics management, logistics services, warehousing employees, warehouse control systems

Managing People and Systems Is Key to Proper Inventory Management