Planning Service Levels

Service levels require careful planning. If supply chains are to be resilient businesses have to be responsive to customer demand and agile to supply goods and services when required. To provide excellent service means meeting customer demand and that requires inventory management.  Planning service levels to meet dynamic demand is key. Serving customers means businesses have to have inventory available. Holding inventory ties up working capital so the trick is to keep inventories low whilst still meeting demand. There is a trade-off between cost and availability and balance is necessary.  It is a dilema betweem just-in-time or just-in-case. The latter is costly. but the former can also be costly if you lose customers. Contemporary supply chain systems are dynamic. We no longer design systems and processes for long time periods. Systems are dynamic and so must design of the systems be responsive to change. In this episode Tony Hines discusses some key aspects of planning service that gives value to customers and is profitable for the network. Send us Fan MailSupport the show THANKS FOR LISTENING PLEASE SUPPORT THE SHOW You can support the podcast by following the link here. It makes a big difference and helps us make great content for you to listen to. Follow like and share the Chain Reaction Podcast with colleagues and friends on social media: Facebook, Twitter, LinkedIn.News about forthcoming programmes click hereSHAREPlease share the link with others so they can listen too https://chainreaction.buzzsprout.com/shareLET US KNOWIf you have any comments, suggestions or questions then just direct message on Linkedin or X (Twitter)REVIEW AND RATE If you like the show please rate and review it. Every vote helps.About Tony Hines and the Chain Reaction Podcast – All About Supply Chain AdvantageI have been researching and writing about supply chains for over 25 years. I wrote my first book on supply chain strategies in the early 2000s. The latest edition is published in 2024 available from Routledge, Amazon and all good book stores. Each week we have special episodes on particular topics relating to supply chains. We have a weekly news round up every Saturday at 12 noon. ...