Optimize Inventory Using Excess Management Tools from Prophet Software
Baxter’s Best Practice Scorecard exemplifies a commitment to helping customers optimize and automate their service supply chains. Baxter has leveraged decades of experience to design, identify, and measure 30 critical service supply chain Best Practice categories during each client’s business review process. The scorecard is organized by practice area and the benchmarks for the Excess Management include an excess management ratio that measures whether inventory is aligned with target stock levels and it also measures whether a customer is following the best practice for excess scrap. The results from the best practice analysis are used to identify and recommend specific opportunities for improvement while ongoing business reviews are designed to monitor the adoption of these recommendations.
Baxter offers an Excess Management Consulting engagement for Prophet customers to configure the Excess report inputs, configure the Excess Scrap Detail report rule sequences, and to define a process for actioning excess. Baxter consultants will work with the customer team to review the Excess report as currently configured with the conservative, starting-point default inputs as a baseline. From here, the Excess Management Questionnaire helps Baxter consultants understand the specific requirements of the customer’s excess identification process and the teams work together in an iterative process to fine-tune adjustments to the input parameters and ensure the report aligns with expectations.
Once the Excess report reflects the customer’s excess needs, Baxter experts work with the customer team to define a repeatable process for excess management. The goal will be for the customer planning team to have a full understanding of the configured excess inputs for future excess scrapping exercises and to follow the best practice recommendation of reviewing these reports monthly or quarterly.
The Benefits of Best Practice Excess Management
Managing excess inventory is key to supply chain agility and overall business health. Baxter’s Excess Management consulting engagements include validation of data integrity, definition of the customer’s excess goals and expectations, and configuration of Prophet’s Excess report and Excess Scrap Detail report to meet customer expectations. Consultants will provide guidance to excess management best practices and work with the customer to create a systematic process to accurately identify, review, and execute to excess recommendations. The project concludes with a final deliverable outlining the final parameters that were adjusted along with a the potential excess inventory reduction opportunity. Contact Baxter to learn how you can benefit from Excess Management consulting to achieve supply chain excellence.