Three of the biggest myths of inventory: 1) Inventory is an appreciating asset. 2) Minimal inventory designs deliver poor customer service. 3) Inventory velocity improvements are the responsibility of supply chain management. These and many other myths keep enterprises from achieving world-class inventory performance and hinder their ability for an improved total cost of ownership and customer satisfaction and transforming the supply chain into a highly competitive tool.
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February has been a terrific month, once again jam-packed, however, lots of fun and energizing!
February has been a terrific month, once again jam-packed, however, lots of fun and energizing!
A past client re-engaged with me. We implemented ToolsGroup SO99+ last year, right before COVID hit the US. They went through customers canceling and pushing out orders and now are experiencing the full bullwhip effect of the pent-up demand within the supply chain.
I’ve also helped another client reposition their supply base and implement best practices for future supplier partnerships. Something they wished had started years ago.
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Art Koch’s Profit Chain® Series
Volume 1 | Number 2 | February 2021
I’m not telling you that any of our team members or I got COVID. My argument here is that the business got COVID.
More and more, I’m discussing the current situation with my client’s leadership and witnessing the long-term effects of having their team members working remotely.
Before the pandemic, businesses were functioning relatively well. They had daily visual management meetings where opportunities received rapid responses from highly engaged associates, and issues could be swiftly escalated when necessary.
During the last few weeks, I re-engaged with a past client. Speaking with three of their leadership team members, they voiced the same concerns and comments as my other clients, that COVID remote work is negatively impacting their productivity and teamwork.
Read article January has been a terrific month. Jam-packed, however, lots of fun and energizing! Was interviewed on Dan Gaffney Talk, WXDE Delaware 105.9, about my newsletter on COVID – The perfect Disrupter for Small and Medium Enterprises to Leverage for Growth.
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Art Koch’s Profit Chain® Series
Volume 3 | Number 12 | December 2020
With any significant event, crisis, or seismic economic shift, there will always be the opportunity for agile enterprises to fill the void the disruption creates.
The COVID pandemic drastically hastened the retreat from globalization, and depending on the survey, 67% to 84% of North American executives say they are increasing reshoring initiatives. The withdrawal from globalization creates opportunities for enterprises that can work quickly and have a depth of expertise to seize the moment.
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Unlock the Art of Change™ Series – December 2020
Don’t become a victim of complacency.
When we slow down or stop, the competition is better positioned to reach our customers.
The embodiment of excellence is always to be moving forward.
Don’t let complacency become your barrier to excellence.
Don’t become a victim of complacency.
When we slow down or stop, the competition is better positioned to reach our customers.
The embodiment of excellence is always to be moving forward.
Don’t let complacency become your barrier to excellence.
Read article Blogging The Art of Change™ – November 2020
Hi Team Art!
November has been a hectic month. My current clients have been keeping be busy COVID related supply chain opportunities and inventory velocity improvements. The reoccurring issues related to COVID is demand variability related to shutdowns and locating quality suppliers to successfully reposition manufacturing closer to customers.
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Art Koch’s Profit Chain® Series
Volume 3 | Number 11 | November 2020
During my supply chain management career, I’ve learned and understood how our roles support the Board of Directors. The Board of Directors are charged with two key elements that supply chain professionals can impact: risk mitigation and shareholder value. We reduce risk by building sustainable processes, inclusive teams, and developing supplier partners. We improve corporate valuation by lowering the total cost of ownership (TCO) and increasing inventory velocity.
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Art’s Law #3 1% = 50%
The 80/20 Rule is not sustainable for problem resolution. We need to think about 80/15/4/1. Where the last 1% of demand typically represents 50% of business complexity.
The last 1% of demand or purchases create 50% of the customers, suppliers, or product numbers.
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Stop letting the process manage you! Become the champion of your game plan and achieve sustainable profits.
Entropy is a giant sucking sound to your profits!
Follow my three-phase methodology to breaking your entropy creep!
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