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Inventory Management

Now more than ever, consumer needs are more difficult to predict, yet, there has been a rise in the expectation of same-day delivery for most products. This makes forecasting demand for your inventory increasingly difficult. As a part of supply chain management, inventory management oversees the flow of goods from manufacturers to warehouses and from these facilities to point of sale. Accurate inventory information is essential for yield and cost calculations, maintaining cost-effective inventory levels, and initiating purchases.

Our Approach

Our team of supply chain management specialists are incredibly well versed in the supply chain industry and all members are Lean Six Sigma certified. We’ve worked in supply chain networks at every different stage, and therefore have a comprehensive understanding of all complex processes and procedures involved in these extensive systems. Our clients need their products moved through their facilities as fast as possible, so we also assist with reducing inventory wait times, excess inventory, FIFO failures, and increasing OSHA compliance.

The Poirier Group will leverage key stakeholders to document and map current inventory processes across functional areas from raw material, to work-in-progress (WIP), to finished goods. We have an exclusive focus and expertise in retail demand and supply planning utilizing several of our SME’s who have been at the forefront of innovation in retail demand and supply planning for more than 20 years.

Ultimately, we want to make it easier for you to effectively manage business and inventory to better serve your customers. The Poirier Group works with you to ensure that our Inventory Management solutions reflect your distribution needs.

Inventory Management Capabilities

Flowcasting

By starting at the store and producing forecasts of consumer demand, all other demands in the supply chain can be calculated. The result is order-of-magnitude improvements in reducing out of stocks and improving inventory performance and profitability for all members of the extended retail supply chain inclusive of cross banners. 

We help retailers transform their inventory flow planning processes by identifying your current state of flowcasting; developing a process solution; and implementing and institutionalizing it into your company. Throughout the process, we provide ongoing education, learning, training and coaching to key staff to ensure the solutions are sustainable.

Inventory SOPs and Best Practices

We have extensive experience in the retail and grocery industries, helping our clients implement best practices and maintaining standard operating procedures (SOP)[link] to eliminate wasteful steps, keep their inventory flowing optimally and keep their costs down.

  • First In First Out (FIFO)
  • Setting Par Levels
  • Creating Contingency Plans
  • Product shipping
  • On-hand Inventory
  • Intended Service Levels
  • Replenishment
  • Inventory Audit best practices

Open to Buy

Open-to-buy (OTB) is an inventory management and replenishment tool that works with your retail business to determine the amount of merchandise your retail store can buy during a certain time period for a certain department or category. It will help retailers manage inventory, plan purchases and budget effectively, ultimately improving their financial performance and protecting their inventory investments. 

The Poirier Group has extensive experience working in retail environments and we help retailers implement OTB to manage and replenish their inventory according to their customer and seasonal needs.

Material Requirements Planning

We will analyze your current material resource planning capabilities including inventory management, ordering and forecasting techniques and determine the best software solution to help your manufacturing facility operate optimally. Your employees responsible for inventory management will rely on the MRP system to speed up purchasing processes, and eliminate costly inventory errors and scheduling problems that come with manual inventory management.

Inventory Audit Practices

Accurate inventory information is essential for yield and cost calculations, maintaining cost-effective inventory levels, and initiating purchases. Auditing the amount of inventory on hand must therefore be accurate and up-to-date to the minute.

Successful Project Experiences

Our focus is to continuously demonstrate our commitment by delivering results through a seamless and digitally connected and integrated retail supply chain. We believe in instilling new behaviours in supply chain and inventory planning and helping organizations become more agile and change capable. Our retail clients’ success stories demonstrate our ability to drive innovation and results.