Dustin Offersen

The Power of Inventory Dustin Offersen

Inventory Management is more than a passive reporting capability. It is arguably one of the most underutilized and overlooked strategic advantages in a supply chain. Best of all it is a competitive advantage that nearly any company can attain. When company leaders dig deep into their inventory management it is not uncommon for them to find that their inventory team often consists of a siloed and powerless reporting entity that focuses on financial reporting. As a result they find that an inventory paradigm shift is necessary although difficult to prioritize due to the vast uncertainty of how to accomplish such a task. What should the inventory strategy be to make such a paradigm shift? As outlined in over two dozen concepts to follow, it is a process of continuous improvement across all inventory that influences and drives true best in class advantages. The best suggestion is to match these strategies (and others) with the biggest gaps found in the company and then build on the maturity of the area. Often these areas that are the least mature will be easiest to address and return the greatest benefit. The success of the company relies on the development and growth of its people and processes. Diversity is more than race or religion diversity also comes in age, passion, and work experience don't overlook talent in any form or fashion or title. Take a leap and enable, empower, and enrich by providing mentorship and opportunity through these outlined concepts and ideas. Remember with a little invested time, risk, and strategy great rewards can result. The greatest of leaders are remembered for what they enabled more so than for what they did.