7 Tips for Optimal Inventory Management in a Global Supply Chain

7 Tips for Optimal Inventory Management in a Global Supply Chain

The world feels smaller thanks to improvements in transportation and communication. This movement has inspired many companies to develop an international supply chain. If that is on your organization's horizon, then it's essential to ensure that your inventory management remains stable.

1. A Global Supply Chain Requires Holiday Awareness

With a supply chain that may span several countries, it pays to be aware that other places have different holidays. Plan ahead to keep your inventory management system working.

2. Cloud Migration

Few companies can globalize their supply chain without relying on cloud-based software. Even if you don't go global, the cloud can make your inventory management flow easily.

3. Check Forecasting

7 Tips for Optimal Inventory Management in a Global Supply Chain

Inventory forecasting is an important tool. When you globalize your supply chain, you may need to alter your forecasting methods to allow for the quirks of your international partners.

4. Research Locations

Don't jump in with both feet without thoroughly researching new locations. Send a seasoned consultant to make assessments and provide a full report to keep your inventory management predictable.

5. Work with Local Consultants like Kuecker

The consultant's work will be more valuable when he liaises with a local consultant who can provide unmatched insight. Ideally, this local consultant would have experience in your industry and intimate knowledge of tax codes, relevant laws and even the cultural customs of the country.

6. Revise Lead Time Estimates

Lead times are all-but guaranteed to increase when you globalize your supply chain. Don't forget to factor in considerations like errors, political unrest and natural disasters.

7. Choose Trustworthy Partners

Carefully consider all suppliers before entering an agreement. The more you trust overseas partners, the smoother your inventory management process will be.

An international supply chain can be a valuable asset. However, it's necessary to use these tips to ensure stable inventory management.

Contact us today to discuss your inventory control needs.