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Determine Economic Order Quantity to Minimize Inventory Costs

As a manufacturer or distributor, you always want to keep your inventory as low as possible but at the same time be able to supply the current demand. In order to do that, you want to make sure you don't run out of stock, but you do not want to hold unnecessary inventory that eats up your cash flow and takes up space inside your warehouse. The question most companies are asking themselves is: How much should I order to minimize my cost of carrying the inventory and minimizing the cost to order the inventory. In order to make this determination, Economic Order Quantity (EOQ) comes into place.


Carsten Howitz 11-02-2014 Read more

Be Lean or Agile?

Managing the supply chain is more than inventory control. You need to have what is called "end-to-end" visibility of the entire supply chain. When you run into issues, you also want to be made aware of the situation so you can take the necessary actions right away. The solution is to get these features from a software package.


Carsten Howitz 06-18-2014 Read more

Applying Demand Forecasting and Planning in Supply Chain Management

I wrote the other day about the need to be lean and agile to optimize operation and to be able to react to potential problems ahead of time. In order to be lean and agile you have to be able to plan and forecast your demand.


Carsten Howitz 04-18-2014 Read more

How to Manage Your Warehouse Wisely?

Running a warehouse can be quite overwhelming. A lot of the time smaller warehouses are run completely manually, where everyone just knows where everything is. But when a warehouse reaches a certain size you need technology to help you getting complete visibility into every corner of the warehouse. The technology is called Warehouse Management Systems.


Carsten Howitz 01-28-2014 Read more

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