Bold point in the Supply Inventory

Aug 6th, 2022
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How to bold point in the Supply Inventory

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whats up everyone welcome back to lace up channel my name is mickey in this video im gonna give you everything there is to know about reorder points what is a reorder point why is it important and last but not least how to calculate your own reorder points anyways lets get right into it so guys what is a reorder point a reorder point is an inventory value associated to an item that triggers a corresponding replenishment should the inventory bdocHub below that level let me give an example lets say that i distribute bananas ive got 50 bananas sitting in my warehouse and my reorder point for bananas is 25. this means that the moment my inventory goes below 25 an alert is triggered that generates a purchase order sends it to my vendor so that they can then replenish my bananas pretty straightforward guys so why is this important well people who maintain an accurate reorder point capitalize on the maximum amount of sales that they can have and minimize the amount of wasted money on prod

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While supply chain is a very broad career field, it has 7 primary functional areas: Purchasing, Manufacturing, Inventory Management, Demand Planning, Warehousing, Transportation, and Customer Service.
A supply chain starts with the ordering of raw materials or components from a supplier and ends with the delivery of a finished product or service to the end consumer. In supply chain management, every link in that chain may offer an opportunity to add value or reduce inefficiency.
Integration, operations, purchasing and distribution are the four elements of the supply chain that work together to establish a path to competition that is both cost-effective and competitive.
Applications that allow enterprises to monitor and manage events across the supply chain to plan their activities more effectively and pre-empt problems.
The main goal of supply chain management is to manufacture products and deliver them to the end consumers. However, providing the product is not the only goal; the quality of that product also matters. You should provide consumers with a product that offers the best value possible.
A supply chain includes all the raw materials and parts that are made into a product and distributed up the chain for manufacture and sale. In contrast, a value chain encompasses all the individual steps that are taken to create a marketable product.
What is Supply Chain Management? The 5 Components of Supply Chain Management. Component 1: Planning. Component 2: Sourcing. Component 3: Inventory. Component 4: Production and Transportation. Component 5: Return of Goods. Conclusion.
Use VMI and EDI to Improve Supply Chain Visibility To reduce gaps, your business can analyze current operations and identify areas that need improvement. Optimizing communication increases visibility between your partners, while technology upgrades streamline many manual procedures.

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