logicpath Blog | Whoknew

Smart Tips – Managing Your Cash Supply Chain and Inventory - #8 Implement a Review Process

Oct 13, 2020 | Kelly MacConnell

Topics: Branches and ATMs, Cash Management, Vault Cash

Smart Tips – Managing Your Cash Supply Chain and Inventory - #7 Review Your Target and Limit Performance

Oct 2, 2020 | Kelly MacConnell

In a previous blog we discussed how to set a realistic target or limit to successfully optimize your cash supply chain and inventory. Let’s review the five steps in creating a target or limit:

Topics: Branches and ATMs, Cash Management, Vault Cash

Smart Tips – Managing Your Cash Supply Chain and Inventory - #6 Define Delivery Schedules

Sep 15, 2020 | Kelly MacConnell

One of the costliest areas in cash supply chain management for a bank or credit union is the expense associated with cash deposit and deliveries. In this blog post, we will be reccomending best practices that financial institutions should use to define their delivery schedules appropriately to optimize the cash supply chain and reduce deposit, delivery and holding costs.

Topics: Branches and ATMs, Cash Management, Vault Cash

Smart Tips – Managing Your Cash Supply Chain and Inventory - #5 Update Your Inventory Expectations Frequently

Aug 18, 2020 | Kelly MacConnell

One of the best practices for having optimal inventory levels is to regularly update your inventory expectations. This means adjusting your targets and limits appropriately by reviewing your actual cash demand and usage. Often, cash inventory and supply chain processes and expectations go years without being updated. However, to truly optimize your processes, these expectations should be updated on a monthly basis, and even more often if there are significant changes to your cash supply chain or...

Topics: Branches and ATMs, Cash Management, Vault Cash

Smart Tips – Managing Your Cash Supply Chain and Inventory - #4 Create a Target or Limit

Aug 11, 2020 | Kelly MacConnell

Financial institutions use limits to manage their cash supply chain and inventory, however there are “do’s” and “don’ts” of setting limits that can drastically affect your success. Today, we will discuss best practices your bank or credit union can use to set limits appropriately.

Topics: Branches and ATMs, Cash Management, Vault Cash

Community Banks and Credit Unions Alleviate Coin Shortage Fallout by Asking for Help from their Communities

Aug 6, 2020 | Stephanie Jordan

Another one of the many consequences of the COVID-19 pandemic was the partial closure of the economy. Due to this partial closure, a nationwide coin shortage has developed because consumers are unable to spend their coins at local businesses that were temporarily closed or cut back on their operations. In addition, the U.S. Mint’s coin production also decreased at the beginning of the COVID-19 pandemic to keep employees safe. Additionally, we’ve seen an increase in online purchasing which yet ag...

Topics: Branches and ATMs, Cash Management, Vault Cash

Smart Tips - Managing Your Cash Supply Chain and Inventory - #3 Expect the Unexpected

Jul 23, 2020 | Kelly MacConnell

If we’ve learned anything over the last few months, it is that the least expected can easily become reality and everything can change in an instant. In our previous post we talked a lot about the trends that should be evaluated when reviewing your cash supply chain and the processes surrounding your branch, ATM and vault cash inventory, but as we adjust to a “new normal” we are beginning to see that the previous trends may not always apply.

Topics: Branches and ATMs, Cash Management, Vault Cash

Smart Tips - Managing Your Cash Supply Chain and Inventory - #2 Be Aware of Trends

Jul 7, 2020 | Kelly MacConnell

The other week, we discussed our first smart tip for managing and implementing a successful cash supply chain and inventory management system – addressing customer demand. This week, our smart tip focuses on awareness of trends in the demand for cash. While we have all witnessed the unexpected over the last few months and recognize the importance of being prepared for the unknown, it is even more critical to be aware of ongoing and predictable trends that impact your cash flow. Here are five tip...

Topics: Branches and ATMs, Cash Management, Vault Cash

Smart Tips - Managing Your Cash Supply Chain and Inventory - #1 Addressing Customer Demand

Jun 9, 2020 | Kelly MacConnell

A good inventory system is important to the growth of any business that manages a supply chain. For most industries, inventory ties up cash figuratively in products sitting on a shelf or in a warehouse, but for financial institutions, branch, ATM, vault and device cash is a financial institution’s inventory. Like any other business, not enough or too much inventory can be costly to the business and inhibit growth or even day-to-day operations in their supply chain. Over the past few months finan...

Topics: Branches and ATMs, Cash Management, Vault Cash

The Fear of “Running Out of Cash” is an Illusion

May 10, 2018 | Teresa Romero

Every responsible branch manager strives to satisfy his/her customers’ banking needs, especially when it comes to their demands for cash. Not being able to fulfill a customer’s request for cash at a bank or credit union branch is probably every head teller’s nightmare! Every banker wants to have more-than-adequate cash, and is pretty fearful of running out of cash (total cash holdings at the branch; not to be confused with cash flow at the branch). This fear, however, is an illusion that leads t...

Topics: Vault Cash, Cash Usage