article thumbnail

How Perpetual Inventory Systems are Transforming Business Operations

RFgen

The answer lies in modern inventory management best practices. Specifically, the use of perpetual inventory systems. What is a perpetual inventory system? Perpetual inventory management relies on technology to track inventory with timely data and a high degree of accuracy. Wonder no more.

article thumbnail

Regaining control: Inventory management best practices (Part four)

Kinaxis

by Richard Cushing In part one of my inventory management best practices series I argue that inventory cannot be managed until it is controlled, and present the notion our general willingness to apportion blame upon unreliable data from enterprise resource planning (ERP) systems is misplaced.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Outside-in Process Q&A

Supply Chain Shaman

In today’s training class, we focused on determining the balanced scorecard. They implemented a simple planning technology with an outside-in channel-centric model (Ship to model definition). The implementation of NoSQL for inventory management gives them an inventory signal with little to no process latency.

Modeling 206
article thumbnail

Your Guide to Understanding & Minimizing Inventory Costs (with Formula)

RFgen

Managing inventory costs is a constant struggle. Managing inventory costs is important because high inventory costs can erode the bottom line. On the other hand, optimized inventory levels can enhance it. On the other hand, optimized inventory levels can enhance it. Next is the cost of storing the inventory.

article thumbnail

What is Work in Process (WIP) Inventory? Formula & Methods

Unleashed

Work in process (WIP) inventory is typically found in manufacturing environments where goods undergo various stages of processing before being sold or used. Tracking WIP inventory is important for monitoring production efficiency, identifying bottlenecks, and managing costs within the manufacturing process.

article thumbnail

Revolutionizing Supply Chain Planning: The Power of Generative AI

Logility

It is trained on a large dataset of existing content, and it learns to generate new content that is similar to the content it was trained on. This leads to optimized inventory levels, reduced stockouts, and enhanced customer satisfaction. Generative AI is a Large Language Model (LLM), a type of AI that can create new content.

article thumbnail

Amp Up Your Efficiency by Improving Order Fulfillment Speeds with Automated Inventory Management

RFgen

And automated inventory management may hold the key. Intelligent software solutions can automate inventory management processes like order picking and fulfillment to remove human error and manual tasks. Since supply chain workflows operate end-to-end, inventory automation can affect all of those processes.