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six sigma for inventory reduction

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  • #27751

    Keshri
    Participant

    Inventory is a non moving cash. I f one has reduced the inventory it means incresed cash flow. By applying six sigma tools for reducing inventory (WIP or Spare part ) shows good results.

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    #68312

    anon
    Participant

    Lean principles should be applied first. Six Sigma only where Lean does not deliver on it’s promise. The tools are better focused and the results are mor rapid. The downside is we have to have a disciplined system (just like a real Six Sigma implementation).

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    #68357

    O’Connell
    Participant

    Nayan,
     
    Which six-sigma tools have you used to assist you in reducing inventory levels?  Let me know for I’m about to start a project on inventory reduction.
     
    Brian

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    #68335

    Michael Wiley
    Participant

    My favorite is the quick and easy
    ABC Classification    for purchased parts and materials

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    #68376

    Keshri
    Participant

    In case of inventory of consumables ( equipment spare part ) inventory is a function of VARIATION in lead time and consumption pattern. Inventory was reduced by controlling the variation in lead time by using sis sigma tools.

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