J. Mᴇɴᴅᴏɴçᴀ’s Post

What happens when you overproduce or produce too early? Well, you get lots of inventory, that’s for sure. And we can break this up into types and categories. Some of it is finished good inventory. Some of it is work in process that we’ve created. Some of it is work in process that we’ve purchased from suppliers, for example. Some of this is the raw material that we need to make our materials internally. You can’t make something from nothing, right? You have to have raw materials in order to make your work in process and have to have work in process to make finished goods. And you need to finish goods to deliver on time to the customer to get paid. So how do you decide what’s work and what’s waste in an example like this? Read more https://hubs.li/Q02y1RRM0 #LeanThinking #Production #Waste #ContinuousImprovement

5 KEY WAYS TO REDUCE INVENTORY IN YOUR ORGANIZATION #InventoryManagement #SupplyChain #CostReduction #LeanManufacturing #BusinessEfficiency #InventoryOptimization #Logistics #SupplyChainManagement #WarehouseManagement #InventoryControl #InventoryReduction #OperationsManagement #BusinessStrategy #LeanOperations #Procurement #waste #ordercycle #lt #slob

Our latest #ExpertColumn looks at #ColdStorage #racking and how it can impact #ColdChainOperations. Learn more: https://brnw.ch/21wLmCV Steel King Industries, Inc. #Automation #PRW #3PL #Warehouse #FoodProcessing #FoodManufacturing #ColdChain #StorageSolutions #Efficiency #Operations #FrozenFoods #TemperatureControlled

Pallet prices are crucial for industries that depend on palletized cargo, affecting costs of logistics, warehousing, and supply chain management. Fastmarkets provides vital insights into US pallet markets, helping our customers enhance budgeting, operational efficiency, and deliver cost-savings. Learn more here: https://fmrkts.com/4eGaBcJ

What is a Pallet Shuttle System and what are the benefits? The pallet shuttle system is designed to achieve high pallet capacity and high-density storage. The function of this system effective. It either uses First-In-First-Out (FIFO) or Last-In-First-Out (LIFO) techniques of inventory management. First-In-First-Out (FIFO) is often used for general product storage such as raw material, metal workpieces, and unperishable items. However, Last-In-First-Out (LIFO) technique is used for products with low life cycles or validity like dairy products, meat, etc. When it comes to inventory management, every organization demands a quick, organized, user-friendly, and cost-efficient warehouse. The pallet shuttle system enables warehouse managers to meet their storage and retrieval goals. #palletshuttlesystem #palletracking #racking #rackingsystem #rack #rackspacetechnology #warehousemanagement #warehouseoperations #warehousesolutions #warehouseautomation #installationservices #installations #automation

How Diverse Is Your Local Pallet Racking Inventory?

How Diverse Is Your Local Pallet Racking Inventory?

INVENTORY VALUE This is a recent HOT POTATO, everyone wants their company's inventory value to be as low as possible.   But in order not to run from the ditch to the source, you have to understand the factors that affect the inventory value and perhaps the most important thing is to first understand what kind of production your own company has in relation to the inventory value.   For a company with a few customers and two or three products, it is fairly easy to calculate the appropriate inventory value for them.   But, for a company with hundreds of customers whose needs are different, as well as hundreds of products whose production times are different, it is quite challenging to calculate an inventory value that does not negatively affect production and delivery times.   Some customers want a product with a delivery time of two to three weeks or less, which practically means that an almost finished product, or at least all semi-finished products, are available. This increasing the inventory value.   For some customers, a delivery time of six or eight weeks is enough, when some parts can be manufactured from scratch, assuming that the necessary materials are in our own warehouse. The inventory value will rise again and spread over a longer period of time.   Then there are the customers whose desired product requires special materials or a lot of procured parts. Delivery times are longer than before, both for the product itself and for the materials, we can already talk about months.   Material and component suppliers operating on the " Kaupinta" principle ( The material or components is the supplier´s property until it is put into production ) reduce the inventory value of the manufacturing company, but these operators usually demand volume from the company before reaching an agreement.   Small appliance shelving ( bolts, nuts, screws, etc. )contracts are one stream that grows this puddle.   So there are a lot of variables, many things directly or indirectly bind the inventory value:   - Work in progress = monthly delivery amount + (10-30%)  - Delivery time of the manufactured product. - Delivery time of the products to be purchased. - Delivery time of subcontracted products. - Material delivery times. - Amount of semi-finished products. - Quantity of finished products. - Urgent deliveries that affect other production schedules. - Contracts operating on the " Kaupinta " principle. - Machine and equipment boxes. - Unplanned absences of staff. - Complaints, both internal, related to subcontracting and customer complaints. - and so on.   It is quite impossible to create a gapless calculation formula that would be able to utilize the real-time data of the company's production control system and calculate, for example, the monthly inventory value that does not impair production and delivery times. It would also enable moderate growth.   I think about this almost every day.  

If your warehouse has temperature-sensitive items, it's important to consider what storage system will be best for your operations. The right solution can keep warehouse workers safe, save on energy costs, and can speed up the picking process. See the best storage solutions for cold storage facilities: bit.ly/3OGss8S #industrialshelvingsystems #coldstorage #warehouse

It’s been a time of great change for the pallet market recently, with the emergence of recycled pallets, labor shortages and volatile lumber prices providing challenges for manufacturers across the US.  https://lnkd.in/gF2Gvp9B #WoodPallets #SupplyChain #RecycledPallets