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AtricleZine - Inventory Accuracy in 60 Days
There are two types of mercury that pollute our environment. Methyl Mercury is more hazardous to humans and other animals than elemental mercury. The sources of methyl mercury are unknown. It is believed that methyl mercury is the result of bacteria that modifies elemental mercury and escapes from landfills into the air.Elemental mercury, found in urban storm water sediment is the result of fluorescent light, electrical switches, thermometers and other mercury containing devices that are not disposed of properly.Mercury is very dangerous to humans. The vapors from Mercury affects the nervous system. The lungs, kidneys, skin and eyes are all affected by Mercury. Mercury can have disastrous effects on fetuses and affect child development.Mercury is used is a wide variety of applications. Some of the most common places where Mercury is found includes: Light switches (Mercury conducts electricity) Paints. (Mercury gives paint its color) Thermometers Remote batteries. (Mercury is used to store energy in batteries) Mercury is a dangerous element for human to breathe. The problem is that Mercury scatters very easily and the vapors are colorless and odorless. Exposure can occur without anyone being aware of the danger. Exposure can occur when thermometers or fluorescent bulbs are broken.When Mercury vapors are inhaled, Only 7 percent of the absorbed mercury is exhaled from the body. The balance of the Mercury is absorbed into the body causing irreparable damage.Mercury Spill Kits are the best defense against mercury vapors. These kits are designed to contain all of the necessary equipment to contain, clean and dispose of a mercury spill. Designed for smaller spills, this kit includes vapor suppressors, a mercury aspirator, personal protective equipment, and mercury disposal containers and an instruction booklet. The mercury spill kit is portable, durable, and requires no mixing.To quickly and effectively contain a Mercury Spill do the following:* Use personal protective equipment gear before starting a cleanup. Protective gear includes gloves made of polyethylene or nitrile rubber, splash goggles and chemically resistant aprons should be worn when working with or around mercury.* Use a Mercury monitor to determine mercury levels in the air.* Check Mercury levels before, during and after cleanup.* Mercury should be scooped together. Pick Mercury up with a syringe, pump tube or scoop.* Put Mercury into a closed container to eliminate further emissions.* Use sponges or powders to pick up any mercury that is left. and help suppress vapors.* Sweep the entire area with a special vacuum - Do Not use a regular vacuum* After cleanup test for emissions to ensure all of the mercury has been removed.* Waste containers with seala
• A Project Plan is needed, incorporating recommendations from this paper and other company-specific activities. This plan, along with a running list of accuracy related issues and actions, should be used to drive the project and focus efforts on activities needed to attain accuracy goals. Issues should be identified, put on a master issues list, assigned to appropriate personnel to solve, then dis
Marketing is conducted for the masses, but the customers come in one at a time. When you spend your money, you need to get value for your investment and you need to get an asset. That asset will be an asset or client that you can turn into a long term business value.One of the worst mistakes 99% of the businesses make is letting prospects and clients come and go with no thought as to how valuable they really are and how valuable they are to the future security of your business. Before you can get this answer you must find the value of your customer.Every customer is going to buy. How many times throughout the year? How long? If you don't figure out these numbers you really aren't in business because you don't have a valuable asset. Your business lacks value. It might have cash flow and you might have some money, but it's mostly short term.You need to continually think of what you can do for your customers. If there's any greed in you, it should be on your customer's behalf. You want to try to reverse the greed for your customers.What benefits and advantages can you pile onto your product or service to make them irresistible?Take out a piece of paper and write down the words, "I can offer my customers" and also write down, "I can offer my customers more or less of what? I can offer my customers better what? I can offer my customers stronger what? I can offer my customers lower or higher what?" Any other thing that you can think of to offer your customers.Then match your current skills and capabilities with all these extra benefits and features that you've listed and determine what cost you might have to offer these services. List the additional features and benefits, the additional cost, and describe the components of that cost. Such items like product cost, shipping cost, fulfillment cost, personnel, inventory, and storage. These are all considered when you do an exercise like this.If you're a service type business, offer the additional cost as measured in terms of the extra time it takes to provide the additional feature or benefit. The proper way to think of this extra time is similar to the way we characterize time spent working for someone else 8 hours a day, 5 days a week versus the time spent learning how to create wealth in your business.If you slow down a bit, you can work smarter rather than harder by learning to make your money work as hard for you as you work for it or making your product or service work harder for you than you work for it. You can achieve much more for less work.Similarly, you can spend less time in a service business taking on more and more clients if you simply treat existing ones differently. Treat them all as VIP's and they'll build your business for you. You'll provide that extra time and service to do what you should for public relations with your customers.Remember that marketing may b
Do you have inventory accuracy problems? Typical symptoms:
• Lots of inventory errors
• Surprise backorders, unplanned shortages, "lost material"
• Nobody believes the records-- numerous calls to "check" on availability
• Air freight bill exceeds the national debt
• Nasty financial reporting "surprises"
• Lack of consensus on importance of accuracy
• Lack of consensus on how to measure it
• Inability to reconcile inventories, cycle counts
• Error causes largely unknown
• Weak/no company tradition of data accuracy
• New systems/software implementation causing more confusion
Solution recommendations are presented as follows…
ORGANIZE PROJECT
Results are usually best when there is a bit of a crisis atmosphere established. Business as usual won't usually serve to get serious inventory accuracy problems fixed within two months. Sometimes a humbling blow, such as losing millions in an inventory "write-down", or an unfavorable "write-up" by a customer, is helpful to shatter the status quo and energize an organization to begin work in earnest on a solution. Top level executive action works best to motivate and mobilize people. At a minimum, perception of a costly problem is needed, with some realization of a need to correct it.
This article is also available on our website: PROACTION - Generating Best Practices. It is an excerpt of a paper originally written by George Miller, Founder of PROACTION. It has been modified and updated by Paul Deis, PROACTION CEO.
Try to tie company goals and objectives to project objectives, to help ensure that people “buy-in” to the project and will be measured and rewarded on the results.
Once the initial goals are attained, don't just declare victory and go home. Set up a lower key ongoing maintenance effort to ensure that the problem stays fixed and that further improvements are made.
• An Executive Sponsor is needed, someone with the clout to keep resources and attention focused on the problem until completion. Results are usually directly proportional to the strength and commitment of the executive sponsor. Sometimes it's not possible to get a sponsor until a case is made that there's a problem.
• A Project Leader and Multi-Disciplinary Team is required, preferably from Operations, Materials, Finance, Distribution and possibly, Process and Design Engineering (depending upon the problems identified). In a large organization, a full time project leader may be needed. People will be needed for inventory verification, cycle counting and reconciliation. The amount of manpower needed is dependent upon organization size, complexity and magnitude of the problem. For example, one 500,000 sq. ft. process plant with about 4000 items and 30+% inventory accuracy needed a full time coordinator, four full time cycle counters and two part timers for six months, tapering off after that. Often, consultants and corporate auditors participate to make projects more successful.
• A Project Plan is needed, incorporating recommendations from this paper and other company-specific activities. This plan, along with a running list of accuracy related issues and actions, should be used to drive the project and focus efforts on activities needed to attain accuracy goals. Issues should be identified, put on a master issues list, assigned to appropriate personnel to solve, then disc
At one time or another, we’ve all fantasized about creating our own business and being so successful that we can tell the boss or manager to “take a hike” and loose the compass! It’s exciting to consider the possibilities. But then the fears creep in. We’ve all heard stories about people who have joined a home based opportunity full of hope and faith, only to unwind shortly thereafter and fail miserably…and lose some good hard earned cash in the meantime. And some of us have lived those stories! Ouch! I have been on both sides of this continuum, succeeding more often than not, but with enough range of experience for both myself and others I’ve worked with to offer some perspective.Let’s take a look at some of the underlying causes that are not always discussed. You might be surprised to hear that the lack of money is not the main reason for failure…hummmh.There are several reasons why people fail in business:LACK OF DISCIPLINE AND CONSISTENCY This is a big one. Most people get the idea that they can make millions by simply signing up. The money will just roll in…the streets are lined with gold and all you have to do is bend down and pick it up. Wouldn’t it be wonderful if this were true? Or would it? Developing the discipline and consistency necessary to be successful in any endeavor is part of what makes success so sweet. There aren’t many accidental success stories. It takes tremendous discipline to be successful in anything including a home business. It’s like getting in shape or going to college. You will not make it through college if you only study one day in each semester. Similarly, you will not get in shape with one “power walk” on just one day. Once you know what is required daily, learn to discipline yourself and be consistent. Amazingly, consistency and discipline not only elevate you to higher levels of success, they also make your work so much easier!LACK OF PERSONAL GROWTH Most people have it backwards. They think that one becomes a millionaire and then starts thinking like one. But it’s the other way around. Before you can be successful, you have to think like a successful person. Your thoughts, words, and your imagination will affect whether you succeed or fail. Personal development of your attitude and communication skills are a must. It’s hard work and it takes discipline. You will have a hard time succeeding without protecting and working on your attitude. This is especially true after some failures. This is a learned skill.LACK OF DIRECTION (A PLAN) Most people that start a business have little or no idea how to succeed. Therefore it is extremely important to find a sponsor who has the time and experience to you by the hand and guide you through the maze, step by step. Be sure this person will actually have (or make) the time for you. Ask specific questions about what kind of support you can expect
ORGANIZE PROJECT
Results are usually best when there is a bit of a crisis atmosphere established. Business as usual won't usually serve to get serious inventory accuracy problems fixed within two months. Sometimes a humbling blow, such as losing millions in an inventory "write-down", or an unfavorable "write-up" by a customer, is helpful to shatter the status quo and energize an organization to begin work in earnest on a solution. Top level executive action works best to motivate and mobilize people. At a minimum, perception of a costly problem is needed, with some realization of a need to correct it.
This article is also available on our website: PROACTION - Generating Best Practices. It is an excerpt of a paper originally written by George Miller, Founder of PROACTION. It has been modified and updated by Paul Deis, PROACTION CEO.
Try to tie company goals and objectives to project objectives, to help ensure that people “buy-in” to the project and will be measured and rewarded on the results.
Once the initial goals are attained, don't just declare victory and go home. Set up a lower key ongoing maintenance effort to ensure that the problem stays fixed and that further improvements are made.
• An Executive Sponsor is needed, someone with the clout to keep resources and attention focused on the problem until completion. Results are usually directly proportional to the strength and commitment of the executive sponsor. Sometimes it's not possible to get a sponsor until a case is made that there's a problem.
• A Project Leader and Multi-Disciplinary Team is required, preferably from Operations, Materials, Finance, Distribution and possibly, Process and Design Engineering (depending upon the problems identified). In a large organization, a full time project leader may be needed. People will be needed for inventory verification, cycle counting and reconciliation. The amount of manpower needed is dependent upon organization size, complexity and magnitude of the problem. For example, one 500,000 sq. ft. process plant with about 4000 items and 30+% inventory accuracy needed a full time coordinator, four full time cycle counters and two part timers for six months, tapering off after that. Often, consultants and corporate auditors participate to make projects more successful.
• A Project Plan is needed, incorporating recommendations from this paper and other company-specific activities. This plan, along with a running list of accuracy related issues and actions, should be used to drive the project and focus efforts on activities needed to attain accuracy goals. Issues should be identified, put on a master issues list, assigned to appropriate personnel to solve, then dis
The retention of highly skilled knowledge workers is one of the major challenges today for all organizatons. Knowledge workers are those whose work primarily requires the use of “mental power rather than muscle power."For example, they are the developers and caretakers of the computer networks that keep your business running. They are also the producers of the dazzling graphics presentations that help your sales force land new customers. And they are even the account reps who look into data bases to decide whether to grant a bank loan request or explain investment options to potential customers.Knowledge workers are therefore extremely valuable because they keep the factories churning, the customers satisfied, the new products coming out the door---they are the backbone of your company. So how do you keep these highly skilled and valuable workers from jumping ship---from going to a competitor? Here are four ways to motivate this unique group of workers.Support training and development. What highly skilled, quality workers realize that in a fast changing world, those who snooze will soon lose their marketable skills. The latest technology, or software package, or self-development program not only can lure knowledge workers, but can also induce them to stay on board.Provide special assignments. Knowledge workers will more likely remain if they know they are learning new things, gaining exposure to ‘hot areas’ or increasing their visibility inside the company. Some examples of short-term developmental projects include leading a task force on a pressing business problem, handling negotiations with a customer,, integrating systems across units, supervising product or equipment purchase or presenting a proposal report to top management.Rotate jobs and responsibilities. The movement of workers to different tasks at specified intervals enables them to develop and practice new skills and determine areas in which they can best use their talents. Also, a staff that is prepared to function in a variety of capacities and to perform a variety of duties, will bring breadth and depth to your team or department As a side benefit, rotation of people to different areas can result in better communication and work relations.Show genuine interest. Ask your valued workers how they are doing, what’s going well and what’s not. Don’t wait for yearly performance review time to recognize good work. Do it on a regular basis. As with most people who take pride in their work, knowledge workers value recognition, nearly as much as good pay.The organization that is able to recruit, motivate, and retain the best workers is going to have a huge strategic advantage. Therefore, companies that offer comprehensive training with planned, on-the job experience, complemented by enlightened supervision and opportunit
Try to tie company goals and objectives to project objectives, to help ensure that people “buy-in” to the project and will be measured and rewarded on the results.
Once the initial goals are attained, don't just declare victory and go home. Set up a lower key ongoing maintenance effort to ensure that the problem stays fixed and that further improvements are made.
• An Executive Sponsor is needed, someone with the clout to keep resources and attention focused on the problem until completion. Results are usually directly proportional to the strength and commitment of the executive sponsor. Sometimes it's not possible to get a sponsor until a case is made that there's a problem.
• A Project Leader and Multi-Disciplinary Team is required, preferably from Operations, Materials, Finance, Distribution and possibly, Process and Design Engineering (depending upon the problems identified). In a large organization, a full time project leader may be needed. People will be needed for inventory verification, cycle counting and reconciliation. The amount of manpower needed is dependent upon organization size, complexity and magnitude of the problem. For example, one 500,000 sq. ft. process plant with about 4000 items and 30+% inventory accuracy needed a full time coordinator, four full time cycle counters and two part timers for six months, tapering off after that. Often, consultants and corporate auditors participate to make projects more successful.
• A Project Plan is needed, incorporating recommendations from this paper and other company-specific activities. This plan, along with a running list of accuracy related issues and actions, should be used to drive the project and focus efforts on activities needed to attain accuracy goals. Issues should be identified, put on a master issues list, assigned to appropriate personnel to solve, then dis
When is the Chamber ideal for your business?Joining a Chamber of Commerce is likely the best thing any business or individual can do. Chambers provide many benefits to members. They host networking events, normally called business after business. They also hold local trade shows that draw businesses from other communities, increasing the possibilities of making deals. Chambers are also known for promoting locally through events, websites and tourist bureaus. The cost of membership is not usually large, especially for smaller to medium size companies. Membership also includes the opportunity to become involved with various committees, sponsoring events and even becoming a keynote speaker for luncheons or dinners. The Chamber is an excellent way to keep up to date with business issues both locally and on a county and state basis. There are no restrictions as to the number of members in any category.They also help you promote your business through newsletters and flyers that are distributed to the business community. You may also have the opportunity to put on a special event for Chamber members, offering them a discount to a program you are hosting. Chambers give you a voice and provide you with a vehicle to promote business ethics within the community.Chambers are an excellent vehicle for start-ups and small businesses, but they are also a voice for medium size businesses as well. Chambers do not have requirements for membership other than keeping your dues current and living up to standard business ethics. Chambers do not have loyalty requirements and you can join as many Chambers as you wish. This is often advantageous when you do business in several cities. Other groups have strict loyalty requirements.One last thing to note: your competition may also belong to the Chamber! It is very important to know all you can about your competitor and this is easy through Chamber membership.
• A Project Leader and Multi-Disciplinary Team is required, preferably from Operations, Materials, Finance, Distribution and possibly, Process and Design Engineering (depending upon the problems identified). In a large organization, a full time project leader may be needed. People will be needed for inventory verification, cycle counting and reconciliation. The amount of manpower needed is dependent upon organization size, complexity and magnitude of the problem. For example, one 500,000 sq. ft. process plant with about 4000 items and 30+% inventory accuracy needed a full time coordinator, four full time cycle counters and two part timers for six months, tapering off after that. Often, consultants and corporate auditors participate to make projects more successful.
• A Project Plan is needed, incorporating recommendations from this paper and other company-specific activities. This plan, along with a running list of accuracy related issues and actions, should be used to drive the project and focus efforts on activities needed to attain accuracy goals. Issues should be identified, put on a master issues list, assigned to appropriate personnel to solve, then dis
A business strategy is formulated by selecting the target audience of the product and assembling the marketing mix. A firm can assemble marketing mix elements in many different ways so that the relative weightage of the different elements will be different in the different combinations. Because of this reality, business firms are employing an abundance of strategies and strategy stances. It is a relentless race to stay ahead of competition.Basically, however, there are only two broad routes available for forging business strategies. They are the price route and the differentiation route. In other words, any strategy has to be ultimately either a price-based strategy or a differentiation-based strategy.Companies taking the price route compete on the strength of their pricing and the price cushions they enjoy. Normally, those who resort to the price route and compete on price will enjoy substantial cost advantages, giving them flexibility in pricing and marketing. The differentiation route, on the other hand, revolves around elements other than price. The product with its innumerable features is one major source of differentiation. In fact, any of the ever-so-many activities performed by the business unit can constitute the nucleus for differentiation.In other words, differentiation allows the company the freedom and flexibility to fight on the non-price front. Differentiation, therefore, is a crucial option for a firm in its search for a rewarding strategy. A good majority of business battles are in fact fought with a differentiation-based strategy rather than a price-based strategy.As already mentioned, a business unit that opts for the price route in its competitive battle will enjoy certain flexibilities in the matter of pricing of its products, and use price as the main competitive lever. It will price its products to suit varying competitive demands. It will enjoy certain inherent cost advantages, which permit it to resort to a price-based fight.
• A Project Plan is needed, incorporating recommendations from this paper and other company-specific activities. This plan, along with a running list of accuracy related issues and actions, should be used to drive the project and focus efforts on activities needed to attain accuracy goals. Issues should be identified, put on a master issues list, assigned to appropriate personnel to solve, then discussed and tracked at every weekly meeting for the duration of the initial improvement project.
The plan should contain specific activities, responsibilities and dates. It needs to be followed and managed competently. Unless carefully managed, a substantial amount of project time will be spent trying to figure out what the problems are, and getting resources assigned to them.
Choose Your Battles
Realize that there are limited resources available, and that these cost money, so prioritize by tackling issues offering the best payback and those that can be won.
Actual examples:
• For one company, it was very hard to keep track of color concentrates, since they were ladled out of barrels, were kept out on the floor, and didn't cost all that much anyway. So, these and other similar items were placed on "two bin" order control and expensed, eliminating a whole class of inventory record problems with little more than a stroke of a pen.
• Another firm had three storerooms. The first one contained fabrics for airline seats and was very well organized and well run, so minimal effort was expended to improve it. The second one was a poorly controlled raw material storeroom with a short-timer supervisor about to retire. Material lead times were only a few days, so the effect of errors was less serious. We elected to wait out his retirement, which was only a couple of months away. The third storeroom contained purchased parts and specialty fabrications. Lead times were long, costs were high and the consequences of errors were serious, so we elected to initially focus on this area. To narrow scope even further, we initially concentrated only on items needed within the lead time horizon and ignored obsolete and excess materials.
• The VP, Finance in still another manufacturing company agreed to waive physical inventories for areas demonstrating that accuracy goals were being met, freeing up resources for more productive purposes.
• In general, controlled storerooms are the easiest to improve, since they are often physically restricted areas, have supervision more oriented to accuracy concepts, transactions less subject to process-related errors and they can be more easily counted. Then attack work-in-process areas, which are generally more challenging.
• One team uncovered dozens of accuracy issues. These were prioritized so that problem-solving resources could be focused on the best payback items with the greatest chances of resolution.
• A few companies we worked with have gotten almost immediate payback by conducting location audits. Simply check each location and compare it to your records. Physical locations not in the records may be exciting windfalls. The opposite case is cause for a corrective cycle count adjustment. This approach requires far less resources
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