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

- Show: [The Manufacturing Executive](https://hardwarepodcasts.com/podcast/the-manufacturing-executive)
- Published: 2023-10-17
- Length: 26m
- Episode: 175
- Page: https://hardwarepodcasts.com/podcast/the-manufacturing-executive/2023-10-17-a-plan-for-every-part-strategic-inventory-optimization-w-harrison-wells
- Listen: https://www.spreaker.com/show/the-manufacturing-executive#episode-4b9dac77-e211-40e8-8019-2d31c0ecc424

## Summary

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.

## Chapters

- [0:37](https://hardwarepodcasts.com/podcast/the-manufacturing-executive/2023-10-17-a-plan-for-every-part-strategic-inventory-optimization-w-harrison-wells#t=37) Introduction: Harrison Wells and LeanDNA
- [3:18](https://hardwarepodcasts.com/podcast/the-manufacturing-executive/2023-10-17-a-plan-for-every-part-strategic-inventory-optimization-w-harrison-wells#t=198) The Plan for Every Part: Balancing Order and Production Costs
- [7:54](https://hardwarepodcasts.com/podcast/the-manufacturing-executive/2023-10-17-a-plan-for-every-part-strategic-inventory-optimization-w-harrison-wells#t=474) ABC/XYZ Matrix and Order Policy Implementation
- [16:27](https://hardwarepodcasts.com/podcast/the-manufacturing-executive/2023-10-17-a-plan-for-every-part-strategic-inventory-optimization-w-harrison-wells#t=987) Challenges of Strategic Inventory Investment and Oversight
- [19:11](https://hardwarepodcasts.com/podcast/the-manufacturing-executive/2023-10-17-a-plan-for-every-part-strategic-inventory-optimization-w-harrison-wells#t=1151) AI and Machine Learning in Supply Chain Automation
- [23:01](https://hardwarepodcasts.com/podcast/the-manufacturing-executive/2023-10-17-a-plan-for-every-part-strategic-inventory-optimization-w-harrison-wells#t=1381) Learning from Disruptions: The UAW Strike and Semiconductor Crisis

## Topics

- [Sourcing & supply chain](https://hardwarepodcasts.com/topic/sourcing-and-supply-chain)
- [AI & machine learning](https://hardwarepodcasts.com/topic/ai-and-machine-learning)
- [Pricing, margins & unit economics](https://hardwarepodcasts.com/topic/pricing-and-unit-economics)

## Most relevant to

companies scaling up

## Mentioned

- LeanDNA (company)
- Triumph Group (company)
- Lockheed Martin Aeronautics (company)
- Bendix Commercial Vehicle Systems (company)
- Ford Motor Company (company)
- Toyota (company)
- Gorilla 76 (company)
- UAW (other)

## Related episodes from other shows

- [Electronica 24: From Crisis Management to Strategic Efficiency, with Cofactr CEO Matthew Haber](https://hardwarepodcasts.com/podcast/ems-c-level/2024-12-19-electronica-24-from-crisis-management-to-strategic-efficiency-with-cofactr-ceo-m) (EMS@C-LEVEL)
- [Family Businesses, Moneyball, and Supply Chain Innovation with ShelfAware CEO Andrew Johnson](https://hardwarepodcasts.com/podcast/manufacturing-happy-hour/2020-10-13-family-businesses-moneyball-and-supply-chain-innovation-with-shelfaware-ceo-andr) (Manufacturing Happy Hour)
- [Cofactr CEO & Co-founder Matthew Haber on EMS@C-Level 2023](https://hardwarepodcasts.com/podcast/ems-c-level/2023-02-20-cofactr-ceo-co-founder-matthew-haber-on-ems-c-level-2023) (EMS@C-LEVEL)
- [Inventory Management 101 - Get your inventory operations fit as a Fiddle](https://hardwarepodcasts.com/podcast/the-startup-cpg-podcast/2022-01-24-inventory-management-101-get-your-inventory-operations-fit-as-a-fiddle) (The Startup CPG Podcast)
- [Building Dumb Parts is a Smart Concept with Pieter Ruijssenaars](https://hardwarepodcasts.com/podcast/additive-snack/2024-03-12-building-dumb-parts-is-a-smart-concept-with-pieter-ruijssenaars) (Additive Snack)

## Citing this page

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