PRODUCTION & OPERATIONS
Organisation is a valuable art .
During COVID-19 , the popularity of homeorganising content , philosophies and services exploded . Professional organising consultant Marie Kondo skyrocketed to fame thanks to surging demand that continues to grow .
Freedonia Group forecasts that sales in the home organisation market are set to rise to US $ 15.3bn by 2028 , driven by the growing complexity , responsibility and time management needs of modern life .
Here , the domestic mirrors the industrial . Warehouse costs are rising , supply chains are growing in complexity and manufacturers must provide speedy , consistent service to remain competitive . For these reasons and more , inventory management is a significant challenge .
“ Industrial manufacturers face many challenges when it comes to inventory management ,” says Berend Booms , Enterprise Asset Management Advocate at IFS Ultimo .
“ Geopolitical tensions , natural disasters and other global supply chain issues are prevalent these days , making it challenging to keep sufficient inventory levels .
“ Inconsistencies in lead times from vendors further complicate efficient inventory organisation , which may very well lead to unexpected hindrance in the maintenance of industry-critical assets or even production stops .”
James Smith , Regional Director , Northern Europe at AutoStore , adds : “ The essence of inventory management
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