Many factors involved with an inventory affect the bottom line of a business including the purchase price, selling price, bank interest rate, warehouse space cost, utility cost, cost of the item being damaged, stolen and becoming obsolete, etc. It is a consensus among planners that balancing these factors and setting safety stock levels to improve the overall profitability is by no means an easy task.
In the webinar, Dr.Jay Zhou will introduce a much-need guiding principle that pinpoints the optimal safety stock level to maximize the profitability. It is a powerful and quantitative principle yet a straightforward one that can be easily understood by everybody. The benefits of the approach are many-faceted: fully measurable financial outcomes, improved planning productivity, etc.
Dr. Zhou will show how it actually works by using PeakProfit, a software tool from Friesian Analytics that implements the principle, and finding the optimal safety stocks for stock items convincingly and elegantly in a live demo.
The webinar is designed for all inventory professionals and managers regardless of if they have 2 months or 20 years of working experience. Please register for the webinar scheduled on Thursday, January 13th 2022 - 11:00 AM (EST) here
Thursday, December 30, 2021
Upcoming Webinar: Optimize Inventory Safety Stock - A Fundamental Principle and Tool
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