Supply Chain Inventory Optimization
Supply Chain Inventory Optimization is key for any organization that truly wants to have a world class supply chain. In an ideal environment inventory would appear instantly at the time to satisfy demand. This would be optimal. This is where the concept of Just In Time (JIT) inventory comes into play.
- “Why not make the work easier and more interesting so that people do not have to sweat? The Toyota style is not to create results by working hard. It is a system that says there is no limit to people’s creativity. People don’t go to Toyota to ‘work’ they go there to ‘think’.” ~ Taiichi Ohno, father of the Toyota Production System (TPS)
- “All we are doing is looking at the time line, from the moment the customer gives us an order to the point when we collect the cash. And we are reducing the time line by reducing the non-value adding wastes.” ~ Taiichi Ohno