Being part of a long supply chain can be fraught with difficulties – often thanks to product demand. As a cog in such a system, you may have experienced large peaks and troughs in manufacturing loads and inventories. This issue is known as the Forrester Effect. In 1961, Jay Forrester wrote an article about the Read More...on
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There is a corollary to Parkinson’s Law… It is, ‘the stock expands to fill the space available’. There is a danger if you have access to funds and plenty of space to fill with stock. This is fine if there is no other suitable investment for your cash and you are sure it will not Read More...on
Take time to take stock. There are many symptoms of a stock management process which is operating below par. Common ones include: Wasted labour searching for parts not located where they should be Inventory which has been gathering dust for several years and is consuming valuable space Accounting headaches as computerised records bear no resemblance to reality A backlog of unprocessed goods-in receipts Read More...on
… a tale of demand and capacity. I have a hole in my bucket. This is quite deliberate. I use it to provide a steady stream of water into my water feature at home. I established this system as my water supply delivered too much water. A simple regulator valve, similar to that used in Read More...on