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Best practices can be anything that increases the existing level of efficiency, such as switching to blanket purchase orders, signatures stamps, and procurement cards to streamline the accounts payable function
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It can also lead to improved levels of reporting for use by other parts of the company such as activity-based costing, target costing, or direct costing reports in the costing function. By implementing the best practices you'll learn in the new edition, a company can greatly improve its level of efficiency information reporting, which fits nicely into the requirements of most strategic plan. New material will include: Distinguishing between different types of distressed merchandise for disposal purposes; Improving partner relationships to reduce the total landed cost of an inventory item; Shift some outsourced production to local suppliers to cover last minute replenishment issues; Warehouse reduction analysis; Component profiling to reduce inventory levels; Relocate suppliers on-site; Demand forecast sharing with suppliers; MRO inventory reduction systems; Product footprint analysis on pallets; Review of limited shelf-life items; Modify the safety stock calculation; Sequence incoming supplier parts to match the production line; Reverse logistics.
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