Let us look at some of the most common terminologies associated with warehouse management, their meaning and usage:
- What is TAT?
TAT or Turn Around Time is an important metric in Supply Chain. All material movement activities (loading, unloading, put-away, picking, dispatch, etc.) can be measured and benchmarked using TAT
- What is “Muda” – Hint: Japanese word?
Muda implies waste. In Toyota Production System (TPS), Muda represents activities that does not add any value to the production process. In the context of Inventory Management, identification and elimination of Muda activities can be help in shortening the TAT and improve productivity
- What is “Kanban” – Hint: Japanese word?
Kanban literally means “token” or a “Signboard”. It is the underpinning concept on which the Toyota Production System operates. While in itself, Kanban is not an inventory optimization strategy, it can help in bringing down the Stores inventory in case the demand for the inventory can be anticipated.