KNOWLEDGE LIBRARY

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12Jun

Unit Fill Rate (UFR)

The unit fill rate (UFR) for an item is the portion of the total number of units...

27Jun

Warehouse Occupancy Percentage

Optimal storage utilization helps enforce healthy inventory management. In our early work with Honda their...

02Jun

Efficient Procurement Inventory

Efficient procurement inventory (EPI) is often required to realize steep discounts when a special opportunity...

26Jun

Inventory Activity Profiling & Data Mining

Suppose you were sick and went to the doctor for a diagnosis and prescription.  When...

27Jun

Inventory Performance Measures

Inventory performance measures include financial, productivity , quality, and response time indicators for evaluating the efficiency and...

Verification of Unusual Order Quantities

 

You may have had the same embarrassing experience I had recently in a jewelry store.  I went into the store to purchase a gift for my wife.  After I had selected a fairly expensive necklace and asked for it to be wrapped, the sales clerk disappeared for a long time.  When she finally came back she was holding the unwrapped necklace and a telephone.  The clerk explained that my credit card company was on the phone and wanted to speak with me.  (I felt like I was being arrested.)  The credit card company wanted to confirm that I was the owner of the credit card and that I really wanted to buy the necklace.  They had correctly recognized that I was using my corporate card which I normally use for business travel expenses to make a personal purchase.  I explained that I was using the corporate card so my wife (who pays the credit card bills) would be surprised by the gift.  The credit card company’s order pattern recognition software had detected something unusual and wanted to give me a chance to verify the purchase.  That order pattern recognition process identifying requests for unusual items or quantities by a customer can yield big customer service and inventory management

 

 

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