Bench Stock Inventory Management

A physical inventory of all bench stock part should be conducted every year.

Bench stock inventory management.

Inventory management is about knowing how much inventory you have when to order more and at what price. Proper management avoids high value inventories waste and monetary abuse minimization of losses resulting from obsolete parts on inventory. Benchmarking helps you assess the performance of a process by some means of measurement including by time value or quality. There are three main types of benchmarking.

If your system lets any of those bad practices slide we know you want to fix them. In addition the current ipv program was not designed to address problems with the supply. Benchmark your inventory management processes to see your success skyrocket. As a result the ipv program uses 55 additional personnel to manage bench stock material at a cost of 4 6 million and will not make use of almost 9 million of available inventory in defense depots to satisfy program requirements over the next 3 years.

In inventory management the process of moving raw materials from receiving to a warehouse storage location can be measured for the time it takes. Bench stocks are low cost high use consumable supply classes ii clothing and equipment iii p packaged petroleum oils and lubricants iv construction materials and ix repair parts.