Does this excite you? Do you get following questions in mind?
How true is this and how practical is this? Is it really do-able? Do I need to mobilise resources to do this? If it was so apparent then why the major research firms have not highlighted this yet? Is it just another consulting mantra, that shows you heaven and asks you to die to reach there?
I am sure to see mixed reactions at above fact and questions. Some might agree, few will have doubt and want to see an example or detailed description and others might just ignore this. Well, if you ask me - this is the most easiest of parts that are under our control to reduce our inventory carrying cost. This also brings in substantial savings in our supplier negotiations and vows the Chief Sourcing Officer of an organization.
Please wait till this Saturday when I will write the next post with the how part stating what is this exactly and how can we reduce inventory and improve savings from supplier negotiations utilizing this.......Keep thinking, till then :-)