Effective inventory management is a critical success requirement for every company regardless of company size, market place, or supply chain. Weakness in inventory management can profoundly and adversely impact the overall financial performance of a company. Being understocked on items that are in high demand and overstocked on items that don’t sell can lead to lost sales opportunities and poor return on assets.
MWPVL International provides purchasing and inventory optimization consulting services to companies seeking “another set of eyes” on their firm’s procurement operations. These studies can involve the evaluation purchasing operations and processes, the evaluation of systems and technologies, and the use of buyer measurement systems designed to improve customer order fulfillment levels and inventory turns.
Purchasing and inventory optimization consulting studies address the following types of questions:
- Are there opportunities available to improve our firm’s order fulfillment levels? Similarly, are there opportunities available to improve inventory turns?
- How can our firm improve the use of our existing purchasing / forecasting software? Is our company making the fullest using of our existing systems or does our firm require a new technology solution?
- What software solutions exist to improve our purchasing operations? Are these solutions adaptable to the specific industry requirements for our business?
- Does our firm optimally source products? Are there opportunities to reduce the net landed cost of goods by sourcing differently or by bypassing existing distribution channels?
- Does it make sense to self-distribute certain product lines or vendors rather than moving goods directly to the retail store?
- Is our company staffed appropriately for our purchasing operations? How can we operate more efficiently with our purchasing department?
- Does our firm carry too much inventory on certain product lines? Does our firm make money when we buy forward on deal opportunities? How do other companies compare in our industry?
- How can our firm improve the gross margin return on investment for inventory?
- How can our firm minimize forecast error by reviewing supplier lead time variability, inventory balance discrepancies, supplier reliability and quality issues, etc.?
MWPVL International provides experienced resources for studies that involve procurement processes and systems. Our approach is to study all aspects of your company’s existing purchasing processes as a first step. Upon completion, MWPVL International documents all opportunities for improvement to enable your company to assess the short term and long term projects that should be considered. MWPVL International can then work alongside your company to evaluate applicable technology solutions or to deploy new processes and / or measurement systems to improve purchasing operations.