Lead Time: Definition, Types and Examples
Lead time refers to the period between a project’s initiation and its completion. However, the project’s start and end differs from situation to situation, and is thus defined by the industry and context of the process. The lead time for a manufacturing company might include the steps from the procurement of the raw materials, production, […]
Powerful Benefits of Using a Purchase Order System – a New Feature in Intuendi!
If you run a business that requires a purchase of goods or services on a regular basis, then you need to find a way to track all your orders. More specifically, you are in a desperate need of a purchasing order system. A purchase order (PO) refers to the intentions of a buyer to buy […]
How to write a purchase order
In the article Purchase Orders 4.0: welcome to Big Data Analytics, you have seen what we mean with the term purchase order. Basically, its purpose is to tell your supplier the quantity of a certain finished product or raw materials to be reordered. The most challenging task for your company in creating that purchase […]
Purchase Orders 4.0: welcome to Big Data Analytics
We all know what is the purpose of a purchase order: telling to your supplier that you want to buy some items that you’ll use for your production plan (in case of raw materials) or your retail/e-commerce activity (in case of finished goods). The items price is usually negotiated with the supplier, while the amount […]
About the replenishment order quantity
In this post we’ve talked about the definition of the reorder point in an advanced inventory replenishment optimization. It has turned out that both the estimated demand during the lead time and the safety stock level have to be considered in order to avoid stockouts. However, once it’s clear that a replenish of a product […]
Reorder Point in the Inventory Replenishment Optimization
If you are a manufacturing company or an e-commerce platform, your goal is to satisfy all the incoming demand for all the products you either produce or own, in other words, avoiding stockouts is a crucial aim. On the other hand, warehouse costs may be significant and thus, excess stock levels are not desirable. Inventory […]
Lead Time: Definition, Types and Examples
Lead time refers to the period between a project’s initiation and its completion. However, the project’s start and end differ from situation to situation and is thus defined by the industry and context of the process. The lead time for a manufacturing company might include the steps from the procurement of the raw materials, production, quality […]
