Article Review: Procurement's Data Problem

 

Procurement’s data problem

Majority of respondents to SpendHQ survey say they don’t trust the data they have

By  · 

Comments

Post a Comment

Popular posts from this blog

PRACTICALLY SPEAKING -How and Where to focus improvement initiatives in the Machine Shop

Image
During a career spanning nearly 40 years, I have worked in--and visited--many machine shops. These ranged from small subcontractors to valve OEM s (Original Equipment Manufacturers) and commercial aircraft manufacturers. Everyone is looking to improve their operations. Those who aren’t are either going out of business or already out of business. The real question is how and where does one start? Follow a simple 3-step process. Step 1: Focus. Trying to fix everything all at once will ensure that there will lots of effort expended with little return in either the short- or medium-term. Start by focusing on known bottlenecks. These are usually best identified via regular walks through the value stream (known as a GEMBA walk) and by simply asking employees about trouble spots. A few machines almost always have piles of work in front of them while the work at other machines ebbs and flows. Step 2: Gather data. This can be done manually in the short-term quite easily. It may invol...
Read more

BACK TO BASICS - IRA (Inventory Record Accuracy)

Image
BACK TO BASICS : I was a new hire with an organization that clearly had inventory management issues starting with poor product identification, no location control and a poor control of the manual wall-to-wall physical count compounded with the lack of an electronic system of record. That was nearly 30 years ago . Below is an excerpt from a white paper by ECI SOFTWARE from March of 2019. Hard to believe the following was identified as Pit Fall #1.  "Inventory record inaccuracies: ... Surprisingly, many Small-Medium-sized Manufacturers (SMMs) do not have inventory record-keeping policies and processes in place, including regular inventory counts, maintenance, and documentation. Results from a recent ECi Software Solutions’ customer “Warehouse Management Woes” survey shows that 53% of small to mid-sized businesses conduct manual inventory counts at least once a quarter and 50% of respondents have challenges counting or reconciling inventory." You cannot hav...
Read more