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Best Practices for Calculating Safety Stock and Service Levels

 

Understand the power of safety stock and how to calculate it.

How do you know when there is enough inventory to meet demand? When is the right time to buy? How much should be purchased? Holding too much inventory consumes cash, space and may lead to shrinkage and obsolescence, while holding too little leads to back orders, production delays, expedited shipping and unhappy customers. In this topic we will explore inventory and purchasing concepts, how to use data to glean insight about your products and how to establish a 'systematic approach' to purchasing.

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Best Practices for Calculating Safety Stock and Service Levels

Agenda

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Best Practices for Calculating Safety Stock and Service Levels

Faculty

Ian Benoliel

Ian Benoliel

NumberCruncher.com, Inc.

  • Founder and president of NumberCruncher.com, Inc.
  • NumberCruncher is a developer of inventory and orders management software for product centric SMBs in manufacturing, wholesale and ecommerce
  • Has held positions in technology and accounting firms
  • CPA, University of Illinois; CA designation, the Institute of Chartered Accounts of Ontario; B.B.A. degree, York University’s Schulich School of Business
  • Can be contacted at [email protected] or 954-302-6811
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Best Practices for Calculating Safety Stock and Service Levels

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