Safety Stock vs. Safety Time
Forecasted demand is always wrong, and not every supplier delivers on time.
I was reminded of these widely accepted truths of inventory planning while working with a prospective Direct Tech customer in Long Island a couple weeks ago. The company's head of logistics was probing the capabilities of our tools, and we got into a 20-minute discussion on safety stock vs. safety time.
Joe is Vice President of Product Solutions at Software Paradigms International (SPI), an award-winning provider of technology solutions, including merchandise planning applications, mobile applications, eCommerce development and hosting and integration services, to retailers for more than 20 years.
Joe is a 34-year veteran of the retail industry with hands-on experience in marketing, merchandising, inventory management and business development at multichannel retail companies including Lands’ End, LifeSketch.com, Nordstrom.com and Duluth Trading Company. At SPI, Joe uses his experience to help customers and prospects understand how to improve sales and profits through applying industry best practices in merchandise planning and inventory management systems and processes.