How to manage planning raw material for production....

Question

Accepted Answer

Managing raw material for production involves forecasting demand, establishing inventory levels, monitoring supplier performance, and optimizing production schedules.

Forecast demand based on historical data, market trends, and sales projections.
Establish inventory levels to ensure sufficient raw material is available without excess stockpiling.
Monitor supplier performance to ensure timely delivery and quality of raw materials.
Optimize production schedules to minimize downtime and maximize efficiency.
Utilize inventory management software to track raw material usage and reorder points.
Implement Just-In-Time (JIT) inventory system to reduce holding costs and waste.

How to manage planning raw material for production....

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