Inventory Management - Too Much vs Not Enough
Join UWEBC member companies to discuss factors that contribute to identifying - and achieving - the optimal inventory position for your supply chain.
- 11:00 AM
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Description
Just like when Goldilocks visits the Three Bears, companies are looking for an inventory position that is neither "too much", nor "too little", but instead is just right. But how much inventory is "just right" and how do you know when you've achieved the optimal inventory position?
Many companies experienced both inventory extremes - and the results of the "bullwhip effect" - during the pandemic. As demand spiked, inventories ran lean ("too little"), and product was unavailable. In the 12 months that followed, safety stock grew past customer demand, resulting in bloated inventories and offsite storage needs ("too much"). As the excess inventory of 2023 continues to receed, companies are struggling to quantify their optimal inventory position somewhere in between these extremes to get to "just right".
Join fellow UWEBC member companies in discussing how to quantify your company's optimal inventory position, as well as how to achieve those results.
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Additional Information
Location: ZoomContact: Events Team, events@uwebc.wisc.edu