By Using Inventory Management Best Practices, OfficeMax Improved the Way They Do Business

OfficeMax was recently recognized as a 2011 Real Results Winner for Best in Demand Management thanks to using inventory management best practices. The recognition comes due to OfficeMax demonstrating business-process excellence and achieving greater benefits through the adoption of inventory management best practices. They were honored at FOCUS 2011, JDA Software Group Inc.’s annual conference in Orlando, Florida. Because OfficeMax took the initiative to implement inventory management best practices they have now been able to understand and manage their customer’s demands. They have also gained a greater forecast accuracy, which allowed them to reduce their inventory while still ensuring that they met their customers’ needs and customer service levels.

How Inventory Management Best Practices Helped OfficeMax

Chances are that at some point in time you have been inside of an OfficeMax store. With all of the office supplies they supply, as well as office furniture and equipment, their storeroom could easily turn into a mess if they are not careful. By using inventory management best practices they were able to take control of their inventory so that there were not a lot of unnecessary items sitting around in their storeroom taking up space and wasting money. Once they had control over their inventory, they were able to see exactly what their needs were and approximately when they would have to be met. This allowed them to not only clean up their warehouse, but also to free up monies that were once being spent on ordering “extra” items that were not being sold as quickly.

Other Benefits that OfficeMax Saw with Inventory Management Best Practices in Place

Not only was OfficeMax able to take control of their inventory with the inventory management best practices, they also were able to see an increase in sales due mostly to increased customer service abilities. This led to an increase in profits for the company. Once their warehouse was better organized, they found that their customer service levels increased because the customer was not waiting for an employee to find one certain product in a pile of unnecessary items. Over all, the inventory management best practices have helped OfficeMax in numerous ways and it can help your company as well.

Allowing Inventory Management Best Practices to Work for Your Company

Now that you have heard what inventory management best practices can do for a company the size of OfficeMax, it is time to implement them into your company as well. No matter what size your warehouse, inventory management best practices will help you in many ways. You will no longer have to spend extra money on inventory that may not get used for years to come. You will be able to free up that money to focus on other areas that may need attention. Your warehouse employees will appreciate implementing  inventory management best practices because their lives will be made much easier. Once you have cleaned up the warehouse and boosted your employee morale, you will easily see how much inventory management best practices can benefit your company.

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