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Work Standards for Optimal Inventory Control

Presenter: Ed Pound, chief operations officer, Factory Physics Inc.

Maintaining inventory position between upper and lower control limits, an easily measurable work standard enables companies to achieve predictable performance in inventory investment and customer service. This webinar provides a discussion of the use of inventory position (on hand + on order – back orders) for control of inventory policy in an IT system. The measure can be used at an individual part level or an individual planner level to tie management strategy directly to daily execution.

Edward S. Pound is chief operations officer at Factory Physics Inc. Ed has provided thought leadership for executives and managers applying Factory Physics principles and software in practice. His work has enabled organizations to realize millions of dollars in increased profitability, improved customer service, rapid evaluation and integration of acquisitions, and improved focus and accelerated results for lean and Six Sigma efforts. Ed has more than 25 years of experience in manufacturing, having worked in general management, operations, purchasing, and product development. Ed holds a bachelor's and a master's degree in mechanical engineering from the University of Alabama. He earned an MBA degree from the Kellogg Graduate School of Management at Northwestern University and a master's degree in engineering management from the Robert R. McCormick School of Engineering and Applied Science at Northwestern University.

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