Optimizing Inventory at a Ready Mix Yard

In this video, David Boardman, CEO of Stockpile Reports and Todd Cope, former district manager for an international ready mix concrete company, discuss how average inventory affects the average selling price and cost per ton of material in ready-mix production. Todd explains why ready mix concrete production managers keep 2-3 extra weeks of material in inventory at a site and how the fear of running out is prevalent in the industry. David provides a picture of the future where inventory is managed through connected sensors and running out of material never happens. Todd explains how this lean, just in time inventory would affect all aspect of a ready mix concrete company.
Talking points include:
-What do ready mix concrete operations managers care about the average sale price and cost per cubic yard?
-What three factors determine's the average sale price of ready mix concrete?
-What determines the cost per ton of material?
-Why don't ready mix concrete companies run leaner on inventory?
-What would happen if a plant runs out of material?
-What would it look like if a ready mix plant runs lean?
-How do you manage the tension between the fear of running out and reducing cost per ton?
-On average, how much inventory does a plant manager like to keep on hand?
-What would a company use freed up capital on to improve business?
-How can plant managers gain trust in data systems that automatically manage inventory?
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Read how Stockpile Reports is improving inventory control at ready mix concrete companies and saving millions of dollars in tied-up capital.
www.stockpilereports.com/cont...
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ABOUT STOCKPILE REPORTS
Stockpile Reports is a patented platform for inventory management and production tracking focused on various industries, such as aggregates, cement, ready-mixed concrete, landscape materials, mining, metals and minerals, construction, DOTs, and more. We provide a unique solution to a common problem - managing inventory efficiently, eliminating write-offs, and tracking production.
Visit us at www.stockpilereports.com
#InventoryManagement #ReadyMixConcrete #Concrete #LeanManufacturing #JustInTime #Construction #Aggregates #Logistics #Mining

[@rubinmaulden3841]

Problem with trying to keep just enough inventory for production to keep cost down is when another plant breaks down that have significantly more work than your plant and now you got 20 trucks in the yard with low inventory of materials, that’s why I always try to keep at least a 2 or 3 day supply of materials because plants break down all the time without notice, I have saved the day many times by being well stocked, It’s a double edged sword, dam if you do and certainly dammed if you don’t. You’re told to keep the bins low but when it hits the fan first thing you hear is why did you run out!!!