KnowledgeLeader Blog

How to Use the 5 Best Practices of Inventory Management

Posted by Protiviti KnowledgeLeader on Fri, Mar 15, 2019 @ 02:20 PM

Inventory planners and managers today find themselves engaged in a delicate balancing act. On one hand, they strive at all costs to stay competitive in a marketplace that continues to demand more customized products and faster delivery services. On the other hand, they are still obliged to keep the actual cost of maintaining such complex inventory down to a minimum. Despite the dilemma, however, companies that apply best practices know firsthand how an efficient inventory management system can transform a business. Some have even reported improvements of up to 90 percent in throughput times and defect levels.

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Topics: supply chain, vendor management, accounting/finance, performance management/measurement, KL Tools, inventory and materials management, accounts payable & purchasing

New Pricing Risks Pioneered by the Consumer Perspective

Posted by Protiviti KnowledgeLeader on Thu, Nov 29, 2018 @ 09:49 AM

Pricing is defined as the monetary value an organization assigns to a particular product or service.

When setting prices, an organization must consider a wide variety of financial market factors in order to effectively determine prices for products and services.

These factors may include the following:

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Topics: risk assessment, strategic risk, performance management/measurement, KL Tools, customer satisfaction, inventory and materials management, sales process & marketing, revenue

6 Successful Warehouse & Storage Strategies You Need to Know

Posted by Protiviti KnowledgeLeader on Thu, Oct 18, 2018 @ 02:06 PM

There are two main goals that companies with leading practices strive to achieve in the warehousing process: to provide value-added services such as product customization and to move those products through the warehouse into the hands of the consumers as quickly as possible. Companies that achieve these goals follow the leading practices discussed below.

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Topics: supply chain, change management, performance management/measurement, KL Tools, inventory and materials management, sales process & marketing

Measure Cost-of-Quality to Track Conformance and Non-Conformance Costs and Support Resource Allocation to Improve Product Quality

Posted by Protiviti KnowledgeLeader on Thu, Sep 06, 2018 @ 12:06 PM

Total quality management requires commitment and persistence. Quality will always have a cost, but many companies are demonstrating that investments in quality always provide returns. Cost-of-quality reporting essentially views costs of quality as "good" costs and "poor" costs. The "good" costs are those incurred by the company in delivering customer satisfaction. The "poor" costs arise from:

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Topics: supply chain, vendor management, performance management/measurement, KL Tools, inventory and materials management

What is Affiliations Risk?

Posted by Protiviti KnowledgeLeader on Thu, Jun 14, 2018 @ 03:55 PM

An affiliation is often referred to as a person, organization or establishment associated with another as a subordinate, subsidiary or member. An affiliation can be a social or business relationship and is essentially the act of being formally connected or joined. Examples of affiliations in the business environment include sourcing partners, vendor relationships and alliances.

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Topics: risk assessment, supply chain, purchasing & accounts payable, vendor management, performance management/measurement, KL Tools, inventory and materials management, outsourcing/co-sourcing/shared services

How to Successfully Manage Supply Chain Distribution Channels

Posted by Protiviti KnowledgeLeader on Thu, May 10, 2018 @ 02:11 PM

What Is Channel Effectiveness Risk?

Channel effectiveness risk is the risk that poorly performing or positioned supply chains or distribution channels may threaten a firm's capacity to effectively and efficiently interact with suppliers and inhibits the ability to access current and potential customers and end users.

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Topics: risk assessment, supply chain, strategic risk, vendor management, accounting/finance, performance management/measurement, KL Tools, inventory and materials management

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