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Inventory Management

  • Review existing stock against historical data.
  • Identify slow-moving and fast-moving items.
  • Document quantities on hand for each part.
  • Evaluate stock against demand forecasts.
  • Schedule regular audits for accuracy.
  • Cross-check physical counts with inventory records.
  • Investigate any discrepancies found.
  • Update records to reflect accurate counts.
  • Classify parts as high, medium, or low usage.
  • Identify critical parts essential for operations.
  • Create a matrix to visualize categorization.
  • Prioritize stocking critical and high-usage items.
  • Choose an inventory management software or tool.
  • Set up barcoding or RFID systems for tracking.
  • Train staff on the new system functionalities.
  • Regularly update the system with new stock information.

Supplier Management

Demand Forecasting

Procurement Strategy

Distribution and Logistics

Customer Support and Service

Continuous Improvement

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