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What Is a Reorder Point? How To Calculate The Right Reorder Point
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- čas přidán 16. 08. 2024
- For More Information visit: www.laceupsolu...
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In This video I show you what a reorder point is, why a reorder point is important, and how to calculate a reorder point for the inventory within your warehouse. Reorder points are the most important thing when it comes to purchasing from a vendor. They enable you to maintain the right stock in your warehouse, because if your reorder point is not frequent enough you will have lost sales. If your reorder points are too far apart, inventory will accumulate and you will have unnecessary capital tied up in inventory that doesn't move.
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- Mickey
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Very clear, thanks for sharing that
You are welcome.
Thank you. My confusion is that the reorder point = reorder point = (Average Daily Usage×Average Lead Time) + Safety Stock and
Safety stock = (Maximum Daily Usage×Maximum Lead Time) − (Average Daily Usage×Average Lead Time). So basically the recorder point is equal to (Maximum Daily Usage × Maximum Lead Time) right? Then what is the point of calculating the safety stock?
Safety stock = 60 - 30 = 30.
reorder point = 30 + 30 = 60.
I have been stuck on this part for a while, please help. Thank you so much.
Thank you so much. I just started my business in Distribution and added 1 view to each of your video.
Hey man love your videos! I’m 23 and a warehouse lead based in NJ. I have two ideas for a video. Maybe a video on how to be a lead? Haha or like the leadership structure of a warehouse
For example: how do u delegate work, how do u handle people slacking performance wise, making mistakes, or taking long breaks.
Good luck with that! I worked the leadership role for 22 years and walked away recently. The drive, passion, and work ethic is gone. Constructive feedback is now taken as harassment.
If you stick around; then adapt to a " servant leader " leadership style. It is a thing, and effective.
Great idea. Let me think about how to make something of value for you :) Thank you so much for your comment. I appreciate you!
@@bassingthrough Thanks for this comment. I totally agree that this one of the hardest times in history to be a manager. Everyone gets all upset/up in arms whenever you give constructive criticism. I think you made the right move. I think that the servant-leader route is valid for this type of role.
@@bassingthrough I’ve definitely noticed that. Very few workers are willing to work extra hard. Most want to do the bare minimum and go home.
I’ll look into the “servant-leadership” style you talked about! Thanks guys! 🙏🏼
@@colino5056 anytime bro. Also look into difficult conversations.
Great video
Those formulas should be on slides
Agreed. I told the editing team moving forward :)
Do you have a video on how to get distribution rights? And exclusivity rights?
Not yet. Will talk it over with the team next week and see what we can do :)
@@Laceupsolutions thanks man! I think this will be a good one for you/us.
This is good you do need to consider shelf life /product expiration of your product
So true. I didn't incorporate it into the video because I wanted to make something simple. That being said this is a necessity. Thank you so much for your comment. It is appreciated :)
Do you have products in uk i need bulk inventory for my warehouse in london can you help me?
Great question. I don't my friend. All of my distributors are here in US and a few in South America. Wish I could be more help.