Manufacturing Resource Partners Blog

Beyond Software: 6 Effective Inventory Management Practices

Many distributors are lured to new software solutions based on their promises to help manage inventory. Because inventory is the largest and most important asset for many distributors, managing it efficiently is critical to remaining profitable and competitive. So, it’s no wonder that inventory management is such a driving factor in distribution software selection. However, effective inventory management goes beyond what any software solution can provide.  Because any software is only as good as the data that goes into it, you need to implement effective inventory management processes and procedures in order to get the most from your inventory management solution.

According to Jon Schreibfeder, president of Effective Inventory Management, Inc., there are six areas of inventory management where practices and standardized processes within your software solution are the keys to success:

  • Getting Control of Your Inventory –Unless you know exactly what inventory is in your warehouse, and whether that material is in a usable condition, you can’t properly determine when to reorder products. You have to control your existing inventory before you can manage your future inventory processes.
  • Keeping Accurate Stock Balances – Having accurate, reliable counts of your actual inventory on-hand empowers you to keep your customers happy and saves you costs by helping you avoid the need to over-order.
  • Improving Your Forecast Accuracy- Gain the power to do more with fewer resources by accurately forecasting demand for your stock products.
  • Managing Effective Replenishment Parameters – Blindly trusting your software solution to help you make replenishment decisions without fully understanding the parameters that are set in your software can cause serious problems.  By understanding these parameters, and how they are intended to function, you can replenish your recurring usage stock with improved efficiency.
  • Maintaining Stock in Your Branch Locations – Ensure that your branches are all appropriately stocked to keep your multi-location distribution organization performing equally well across all areas.
  • Achieving Inventory Analysis Efficiencies – With solid inventory analysis, you can ensure that you are investing in the right amount of the right products to remain competitive.  By developing and using a comprehensive set of tools to closely monitor the performance of your inventory, you can achieve more of your goals more efficiently.

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Tags: Distribution Software, Inventory management software, Microsoft Dynamics partner California, Dynamics ERP for Distribution


Dynamics GP Makes Distribution Transparent

For many people, the distribution industry is viewed as simply “buy stuff, store stuff, and sell stuff”. How much does it take to really manage a distribution business? The answer, not surprisingly, is “how successful do you want your distribution business to be”? When should I buy new items?  Is it time to off-load that stale-dated inventory? Who...

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Tags: Dynamics GP Distribution, Microsoft Dynamics GP 11, Microsoft Dynamics GP 2010, Microsoft Dynamics GP Southern California, Dynamics ERP for Distribution, ERP Software Information, Microsoft Dynamics ERP Functionality


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When you customer places an order, the last thing you want to tell them is that an item that they want to purchase is not in stock. Microsoft Dynamics GP can help you avoid backorders in the first place and – when an item sells out more quickly than planned – you can manage the process more efficiently. What if you could take some of the guesswork out purchasing? Your purchasing...

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Tags: Advanced Distribution Partners, Microsoft Dynamics GP California, Microsoft Dynamics GP for Distributors, Microsoft Dynamics GP, Dynamics ERP for Distribution


Controlling Inventory Quantities

In a recent post, Costing, & Inventory Control, we talked about costing and the interaction of base inventory control. Today let’s talk about additional controls you have per item when buying or manufacturing either a subassembly or a finished good.

When purchasing raw materials or manufacturing items, you can utilize item information to indicate controls such as: effective...

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Costing and Inventory Control

Spring is here. For most, it’s time to start evaluating your processes to ensure you are confident and in control of your costing and inventory. Are you confident your inventory is accurate? What about costing methods; are they set according to your business requirements? You might think because you have complex ways of doing things that there isn’t a software package good enough...

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Tags: MRP Consulting, Manufacturing Resource Partners, Microsoft Dynamics GP, manufacturing software, ERP software, U.S. Manufacturers, inventory management, manufacturing, operational processes, California Microsoft Dynamics GP Partner, Arizona Microsoft Dynamics GP Partner, Nevada Microsoft Dynamics GP Partner, Utah Microsoft Dynamics GP Partner, Colorado Microsoft Dynamics GP Partner, Idaho Microsoft Dynamics GP Partner, Oregon Microsoft Dynamics GP Partner, Washington Microsoft Dynamics GP Partner, Seattle Microsoft Dynamics GP Partner, Boise Microsoft Dynamics GP Partner, Portland Microsoft Dynamics GP Partner, San Francisco Microsoft Dynamics GP Partner, Oakland Microsoft Dynamics GP Partner, San Jose Microsoft Dynamics GP Partner, Los Angeles Microsoft Dynamics GP Partner, Irvine Microsoft Dynamics GP Partner, San Diego Microsoft Dynamics GP Partner, Phoenix Microsoft Dynamics GP Partner, Tucson Microsoft Dynamics GP Partner, Las Vegas Microsoft Dynamics GP Partner, Reno Microsoft Dynamics GP Partner, Salt Lake City Microsoft Dynamics GP Partner, Denver Microsoft Dynamics GP Partner, Colorado Springs Microsoft Dynamics GP Partner



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