Can you Provide a recommendation based on your analysis thechallenge to store ma

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x.j5omendations could be as below. These are general guidelines applicable to any business. Increased efficiency – Applying proven information management methods and experience, you can re-engineer processes for maximum efficiency to your supply chain Reduced cost – Computerization will manage your Ink & Paper needs more effectively, reducing wastage and warehousing costs and using innovative e-procurement system leverage to drive down costs. Environmental sustainability – It will also reduce the environmental impact of Ink & paper by reducing wastage. Benchmarking A program to set up internal benchmarks will reduce your cost per order or hold the cost in line as volumes increase. Translate these down to department and individual work standards. Reduce handling and touches The fewer touches of product, the less cost of shipping an order. Streamline the operation and apply industry best practices to reduce handling and cost of fulfilling an order. SlottingEffective slotting practices can lower your costs for picking, replenishment, and putaway warehouse labor. Use what you have more productively This is a mantra in fulfillment today. Always aim to get more productivity from your layout, space/product storage utilization and staff. By not caring for the basics of fulfillment, you are adding costs to the warehouse operation. Increasing current capacity and utilizing that capacity more effectively are key objectives. Try to get as much productivity as possible out of the existing layout, processes and systems first. Freight management Controlling inbound and outbound freight can make the difference between a profit or loss for your business. Use proper levels of qa Are you “over inspecting” activities to the point of diminishing returns and spending money that does not result in a return on the investment? Receiving practices and cross dockingCross docking is an effective practice to reduce handling and costs while improving customer service and shipping costs. Process returns more efficientlyReturns cost more than orders to process. Untimely processing of customer credits, refunds and exchanges can damage customer service. Explore use of computers for use of staff, people ti optimize space and systems to improve productivity. Workforce softwareMany companies are still using Excel for their staffing software. Excel cannot save you as much money year over year as a good workforce program. Team up with Contact Center to share a scheduling system. It will pay for itself quickly. If you have one, understand how to use it to its maximum. Finding the right level of automation and systems ROI analysis could put automation into your planning for cost improvement. The wrong material handling equipment can be creating hidden lost time and inefficient product flow, impacting cost and customer service. Warehouse management/bar code systems This should include reviewing how bar coding throughout the warehouse, conveyance, material handling and warehouse management systems can improve productivity, increase service levels and reduce costs. Inventory management in the warehouseEffective inventory management is the single most important tool to improve customer service and reduce cost of operation. Replenishment practicesEffective replenishment is the basis of successful order fulfillment. Inefficient replenishment will cost huge dollars and negatively impact customer service. Streamline processAssess the processes of seasonal planning, weekly forecasting, end-of-season analysis for your multichannel business. Streamline how the Inventory Control buyers perform their work and manage inventory. Process improvement should improve planning and forecasting accuracy, and lead to improvement in customer initial order fill rate and turnover. Know your vendorsWhat are their pain points (space, cash, capacity)? What are their strengths? Understand these thoroughly to gain maximum leverage. Should you reduce the number of vendors you purchase from to get more leverage? Establish a vendor scorecardInvolve Merchandising, Inventory Control, Fulfillment and Accounting and set up a vendor scorecard to evaluate vendors. This should include sales, margin, on-time delivery, significant problems, etc. Review it several times a year with the vendors. You may even want to take it a step further and set up a vendor recognition program for the top vendors. Visit your top 20 vendors nowStrengthens relationships. Include at least the Merchant and Inventory Control Buyer. Involve vendor’s senior management as well as yours. Have an agenda about your company’s direction, needs and expectations. Manage your vendorsInsist on costs, terms, and conditions with vendors that make sense for your company. It is your responsibility to look out for your interests, theirs to look out for theirs! Develop vendor compliance and charge back policies to enforce compliance. Negotiate termsArrange and pay 2%10Net60 with all domestic vendors. Provide limitless access to information systemsInventory Control Buyers must have laptops and VPN access to all tools. Pays for itself quickly and frequently. Invest in systemsProvide Inventory Control Buyers easy, efficient, accurate, and timely access to data. Ongoing training, report requests, modification requests should be a management priority. This group spends more money than any other. Support them! Invest in inventory control staffThe Inventory Control Department manages the largest balance sheet asset in the company. Hire and retain strong people, provide them tools, have high expectations of them, then reward their solid performance well. Should you have a different organizational structure? Consistent forecasting philosophyBe sure all categories and SKUs are forecast using consistent methodology that fits your organization. Challenge it often. Review, recite, retain key dataIC Buyers MUST know their category and vendor inventory levels, turns, SKU count, and GM $ and %. More importantly, understand the impact of their actions to these metrics and to the business. Clear a day’s-work-in-a-dayEnsure timely and accurate data across the organization by demanding all receipts, put away, invoices, PO acknowledgments, orders, (all business transactions) are posted daily. Renegotiate (always)New PO’s for in-season replenishment of items selling over forecast are due better costs. Ask early and assertively for RTV and/or mark down money for poor performers. LiquidationIs your company aggressive enough in identifying potential overstocks and putting them into different buckets? Reduce slow selling stock as close to in-season as possible to gain a higher cost recovery. Inbound freight Have a qualified consultant perform a freight audit to see what additional savings can be gained. Join a freight consortium to maximize savings. ImportingImported products now represent 50% to 70% of all products in many companies and they give a considerably higher initial mark up and maintained margin. Is your staff managing this inve

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