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hi Brian Kane here with work Excellence we hope you're having a great day and if you're in manufacturing or distribution we're going to guess that you're experiencing major issues with your inventory we're hearing this from all of our customers and others that we connect with and we've narrowed down the top four themes that we've heard and we'd love to share those with you today and then provide you with a few solutions that maybe you can go Implement immediately and we'll give you a couple of stories of how we've helped others as well the number one thing that we're hearing it's an issue is too much inventory over stocks too much of the wrong product or product in the wrong location second thing that we're hearing are these lingering supply chain issues that have been going on since the pandemic the inability to get Freight in and out the cost of freight the cost of warehousing the third thing that we're hearing is the ineffective or or inefficient Inventory management systems they simply didn't keep up with the changes in demand and Supply as we're going through the initial the pandemic itself and then out of the pandemic what's happened to the change in demand and the third thing that we're hearing is cash flow issues if you're experiencing any of these issues rest assured you're not alone and if you want to talk about a few solutions that we can do if you have too much inventory many of those tried and true things that we've done in the past to reduce inventory will work again today but a couple of things that we're helping others do is to Simply look back look at the root cause of why it was overstocked and not only try to reduce it but make sure that we don't get it back into our our system again so the number one thing we're talking about is work with your sales teams to help them sell the product that's available and If you're going to Discount those overstocked items discount them early discount them quick and bundle them with a few other items that will really help you sell the other Overstock items that will get it out the door if you're experiencing these supply chain issues again the number one thing is to be the squeaky wheel with any supplier whether that's your Logistics supplier your Warehouse supplier anybody that you're buying product from or raw materials from be the squeaky wheel be the one that you continue to be part of their Network be part of their day-to-day activities so that you're getting the service that you can need the third piece when we talk about these inefficient Inventory management systems is we really need to get to the root cause of the data and understand how we can forecast better but more than anything a lot of our algorithms were set in these Inventory management systems based on historical ordering patterns and if you have not gone in and reset those historical ordering patterns and the algorithms that are coming from that you're probably going to be experiencing the same issue for a while and then it's going to flip on you and you're going to have this bull whip effect of you're not going to have enough of the right inventory in the future and some people are already experiencing that and the fourth thing the cash flow issues the number one thing that you can do is to make sure you ship everything that you can ship as quickly as you can to get that cash conversion cycle moving so that we can get a shorter shorter cash conversion and if that means that you need to ship products not complete you know a lot of orders come in and they want to be ship complete well we sometimes we have to just stop and we have one client that we worked with that immediately said we need to get more cash flow and we just said break the orders up ship what you can as long as it works for your solution this will be satisfactory to most customers as well if you need to if you'd love to talk to us or you want to hear more about these these inventory issues we'd love to have conversations with you maybe you could sign up for a private workshop with some coaching and we can help you with your inventory issues as well contact us at 844-448-0488 or reach out to us at workaxcellence.com hope you have a great day bye bye