A Step-By-Step Process for Inventory Reduction
The Inventory Cash Release® Process (ICR®) is a step-by-step approach for inventory optimization that helps companies to safely, selectively, and efficiently reduce their expenditure on materials and spare parts. The process acts as a decision making filter utilizing the 7 Actions for Inventory Reduction.
When there is a large number of inventory items to analyze the Inventory Cash Release Process uses a simple device to reduce the number of items to analyze through considered selection of which items to review.
A Different Way to Look at Inventory Optimization
The ICR® process then applies 7 Actions for Inventory Reduction to force your team to look at inventory optimization from many different angles rather than jumping to the first solution that springs to mind. This radically improves your chances of identifying and implementing a viable and lasting solution.
The fundamentals of the Inventory Cash Release Process and the 7 Actions for Inventory Reduction are key elements of our inventory optimization services.
Reduce Inventory Without Disrupting Operations or Maintenance
The objective of all spare parts inventory optimization is to reduce inventory without disrupting operations and maintenance. This is achievable with the Inventory Cash Release Process and the 7 Actions for Inventory Reduction. Our experience shows that there are typically sufficient opportunities for genuine, risk-free reduction that you will not need to risk supply to achieve your goals.
Importantly, because of the simple nature of the process your team can apply it either as part of a focused effort for inventory optimization or on a day-by-day basis as an effective tool for inventory prevention, as they make those important stocking and procurement decisions, .
Learn more about our Spare Parts Inventory Reduction & Optimization Programs.