Gazi Sanaul Hasan

How to Reduce Safety Stock Using the 80/20 Rule The 80/20 rule is often used in parts inventory management to identify the 20% of inventory that produces 80% of the profits.A variant of this rule, called ABC analysis, is commonly used to split inventory into three parts according to their profitability. This allows the organization to focus efforts and money on the inventory items that count the most. While this is a good way to put the 80/20 rule to use, there are other equally useful applications of this powerful principle. Suppose the organization already used the 80/20 rule to identify the most profitable inventory items and have eliminated or reduced the least profitable ones. While this is a significant improvement in cutting down inventory costs, company can go further by applying the 80/20 rule to your safety stock. So how can we use the 80/20 rule to minimize uncertainties?  Let’s look at supplier unreliability. Unreliable suppliers are the suppliers who can’t be re

3 Models of Supply Chain There are three models of supply chain -Traditional -Lean -Agile  The traditional supply chain is known for  -Protection of market aims for leadership  -Being forecast driven  -Higher emphasis on customer service than cost  -Inventory held to buffer fluctuations in demand and lead times  Lean supply chain characteristics are -Integration upstream with suppliers  -Integration downstream with customers  -High emphasis on efficiency  -Aiming for minimum stock holding  -Suitable for high volume, low variety products  Agile  characteristics are noted for flexibility and speed coping with innovative products and unpredictable demand  -Suitable for low volume, high variety products  -Rapid response to market demand   With additional challenges of globalization and competitiveness global organization are now more focused on lean and agile supply chain principals. 

Material Planner The material planner is an essential part of the manufacturing team and ensures the flow of materials necessary for all manufacturing operations. These planners ensure that their company never runs out of necessary manufacturing materials. They work both as part of a team and independently in a variety of settings. Depending on the industry and type of manufacturing, material planners may be required to perform physically intensive work, such as surveying inventory and inspecting the production line. They also may be required to work in spaces that are not temperature controlled. They typically work regular business hours but may be required to come in on evenings or weekends when working on large orders or to address production issues. Material Planner Duties and Responsibilities Specific job duties for material planners vary based on their employer. However, there are several core tasks common across the field, such as: Manage Production Flow M