Hardware Podcasts

A Plan for Every Part: Strategic Inventory Optimization w/ Harrison Wells

The Manufacturing Executive · 17 Oct 2023 · 26m · Episode 175

What this episode covers

Harrison Wells, VP of Professional Services at LeanDNA, explains the concept of a 'Plan for Every Part' (PFEP) to help manufacturers navigate the 'Disruption Economy' by balancing economic order quantities with production realities. He details how to categorize inventory using ABC (cost) and XYZ (variability) matrices to determine appropriate order policies and safety stock levels, arguing that strategic inventory is an insurance policy against known supply chain risks. Wells also discusses how LeanDNA uses machine learning to automate the implementation of these policies in ERP systems by learning from buyer behavior to reduce manual workload.

Most relevant to

companies scaling up

Topics

Mentioned

Companies
LeanDNA, Triumph Group, Lockheed Martin Aeronautics, Bendix Commercial Vehicle Systems, Ford Motor Company, Toyota, Gorilla 76
Also
UAW

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