July Virtual PDM: Thursday, July 21 @ 5:30pm AZ Time
Topic: Inventory Optimization Using ABC-XYZ Analysis
Guest Speaker: Steve Greene, CSCP, CLTD, CPIM
About the Presenter:
Steve Greene, CSCP, CLTD, CPIM
Steve Greene is a program manager and computer support specialist at Greenville Technical College.
A year before earning his CPIM in March 2021, Steve started to write many articles and posts on supply chains that were published in various LinkedIn groups, in the ASCM online blogs, and later in ISE Magazine. Steve’s other supply chain topics include procurement strategies using the Kraljic’s model, integrated business planning using CPFR, advanced manufacturing using APS systems, ERP selection, and product development.
You may contact Steve through his LinkedIn profile:
About the Presentation:
Classifying inventory items by their value using ABC analysis has long been associated with “always better control”. However, classifying items based on one or two value factors can be too simplistic and limiting in today’s dynamic supply chain. To resolve the shortfalls, inventory can be optimized by pairing ABC analysis with XYZ analysis which classifies inventory items based upon their amount of demand variation.
With the combination of ABC analysis and XYZ analysis, inventory managers can effectively collaborate with other key functional managers in production, sales, logistics, accounting, and procurement. These functional departments can better work together to increase inventory optimization.