Multi-echelon inventory optimization vs inventory optimization

ToolsGroup

Editor’s Note: Last year ToolsGroup became Microsoft’s partner for Multi-echelon Inventory Optimization (MEIO) in Industrial accounts. Microsoft and I collaborated on a blog introducing the basic concept of MEIO, comparing it with Inventory Optimization. Inventory Optimization

Still managing your inventory with spreadsheets?

ToolsGroup

Most companies are still trying to use Excel to optimize their inventories. Supply Chain Insights’ 2018 Inventory Optimization Technologies Study suggests the number may be as high as 75%. Much of inventory is a hedge against uncertainty.

Multi-echelon inventory optimization vs inventory optimization

ToolsGroup

Editor’s Note: Last year ToolsGroup became Microsoft’s partner for Multi-echelon Inventory Optimization (MEIO) in Industrial accounts. Microsoft and I collaborated on a blog introducing the basic concept of MEIO, comparing it with Inventory Optimization. Inventory Optimization

Four ways Inventory Optimization can address tighter supply constraints

ToolsGroup

The Wall Street Journal recently advised “In the battle for economic supremacy, investors should quickly be realizing it’s increasingly about supply, not demand.” ( The Next Challenge for Global Growth: Keeping Up With Demand , April 24, 2018 ). Inventory OptimizationAs the (U.S.)

Inventory Management in Service Logistics Industry

Talking Logistics

What is Inventory Management? For Manufacturing it’s about carrying zero or minimum inventory. For Logistics the focus is on high inventory turns. Inventory Management is about having a right balance of expectations from different functions of the supply chain.

How to Measure Inventory Health

ToolsGroup

Financial executives measure inventory health with metrics like inventory turns because they view the firm from a financial viewpoint - such as how much working capital is being tied up. The concept of inventory health is based on this expectation.

Segmenting Your Inventory by Gross Margin and Demand Variability

ToolsGroup

Gartner Research analyst Paul Lord has developed a thought-provoking approach (shown in the above diagram) for tailoring supply and inventory tactics to different inventory segments. As we showed in a previous blog, it’s not the only way to segment your inventory, nor nearly the best.

Five Reasons Why Are We Not Making Progress on Inventory Management

Supply Chain Shaman

At the session, we discussed why companies have not made more progress on inventory management. In the case of Apparel and Automotive industries there are slight improvements, but they have shifted inventories to suppliers. Days of Inventory Pre and Post-Recession.

Three Key Themes in the New Inventory Optimization Vendor Ranking

ToolsGroup

The 2018 Nucleus Research Inventory Optimization (IO) Value Matrix Report has just been released, and analyst Seth Lippincott identifies the latest technology trends, top inventory optimization solution providers, and the strengths and weaknesses of each vendor.

How manufacturers optimize their inventories

ToolsGroup

Editor’s Note: Microsoft’s Colin Masson, Global Industry Director of Manufacturing Solutions (that's him on the left), sat down with me to discuss how manufacturers optimize their inventories. It then uses this model to understand the impact of demand forecasting on inventory.

Why probabilistic forecasting is better for inventory optimization

ToolsGroup

In this post we’ll explore how probabilistic forecasting not only creates better forecasts, but also improves inventory optimization by improving the stock levels at store and warehouse locations in your distribution network.

The Secret of Getting Ahead (Takeaways from Command Alkon ELEVATE 2018 Conference)

Talking Logistics

Therefore, it’s not surprising that the question at the forefront of the most recent Leadership Roundtable meeting (held last month at the Command Alkon ELEVATE 2018 conference ) was, How do we get started? By monitoring inventory levels in real time and forecasting material usage based on actual ready mix demand (using Command Alkon’s supplyConnect solution ), the hauler coordinates the cement replenishment process between the supplier and plant. What a difference a year makes.

Omni-Channel Logistics Leaders: The Importance of Real-Time Inventory Visibility

Talking Logistics

The research focused on the inventory visibility and optimization challenges that companies face today related to omni-channel fulfillment and the actions they should take to elevate their omni-channel performance.

Still managing your inventory with spreadsheets?

ToolsGroup

Most companies are still trying to use Excel to optimize their inventories. Supply Chain Insights’ 2018 Inventory Optimization Technologies Study suggests the number may be as high as 75%. Much of inventory is a hedge against uncertainty.

The Inventory Accuracy “Confidence Gap”

Talking Logistics

The research focused on the inventory visibility and optimization challenges that companies face today related to omni-channel fulfillment and the actions they should take to elevate their omni-channel performance. And it begins with improving their inventory accuracy.

Digital Inventory Management Key Battleground in Transformation of Brick-and-Mortar Retail

Cerasis

As e-commerce growth accelerates, shippers are working overtime to manage available inventory. It catalyzed brick-and-mortar retailers to offer online shopping opportunities, which require much more than manual inventory management practices.

With Tariffs In Flux, Digital Inventory Technology Might Be The Solution To Holiday Bloated Inventory Levels

Talking Logistics

The tariff situation has companies in a quandary as they debate whether to “load up” on inventory now — to ward off the impacts of potentially-higher tariffs on imported goods — or hold off for now and hope that the political environment calms and things get to back to “normal.”

Top Talking Logistics Videos and Posts in 2018

Talking Logistics

As 2018 comes to an end, a quick thank you to all of our readers, followers, and sponsors for another great year of learning and conversation on Talking Logistics. Top 10 Talking Logistics Posts in 2018. 2018 Parcel Oversize Changes: Tightening of the Vise.

Video 151

This is Not Your Father’s Inventory Optimization

Logility

The first commercially available single-echelon inventory optimization solution was introduced in the 90s and the first commercially available multi-echelon inventory optimization solution was introduced in the early 2000s. Inventory Optimization

This Week in Logistics News (July 9-13, 2018)

Talking Logistics

The post This Week in Logistics News (July 9-13, 2018) appeared first on Talking Logistics with Adrian Gonzalez. My voice is a little sore this morning. It could be from all the cheering last night.

Three New Ways Retailers Can Improve Inventory Performance

ToolsGroup

By using data to stock items with higher forecasted demand, they can reallocate cash that would normally be tied up in poorly performing inventory, avoid margin erosion from markdowns and dead stock, and increase overall on-shelf availability metrics.

Retail 215

This Week in Logistics News (October 8-12, 2018)

Talking Logistics

I have to go to the grocery store again today to replenish our inventory (yeah, I don’t shop for groceries online; as the son of a bodegero, I’m old fashioned that way.). The post This Week in Logistics News (October 8-12, 2018) appeared first on Talking Logistics with Adrian Gonzalez.

[PODCAST] Why Digital Tools to Optimize Inventory Management Allows Supply Chain Execs to Stay More Strategic at Every Link in the Supply Chain

Cerasis

On today’s episode, we welcome Margaret Bendis, US Marketing Specialist for a company called EazyStock a cloud-based software-as-a-solution (SaaS) that optimizes inventory management. What is the future of digitization as it relates to inventory management.

This Week in Logistics News (September 24-28, 2018)

Talking Logistics

Since I’ll be speaking in three sessions at next week’s CSCMP Edge 2018 conference , I’ll be busy today finalizing my preparations. The post This Week in Logistics News (September 24-28, 2018) appeared first on Talking Logistics with Adrian Gonzalez.

Inventory Can Be Scary

ToolsGroup

“Your inventory problem is scary because you’re selling out before you can make new items to meet demand”. Many retailers agree that inventory can be scary. They took a hit to their stock price because of lower earnings and are scrambling to come up with a better plan for 2018.

This Week in Logistics News (September 17-21, 2018)

Talking Logistics

This time I’ll be returning from enVista’s FUEL 2018 conference where I am giving a keynote presentation this morning on Defining Your Own Logistics Competitive Weapon. The post This Week in Logistics News (September 17-21, 2018) appeared first on Talking Logistics with Adrian Gonzalez.

This Week in Logistics News (September 3-7, 2018)

Talking Logistics

This is yet another example of how retailers and manufacturers are trying to find the right balance between delivering an enhanced customer experience and finding the optimal mix of inventory, transportation, and labor costs. I joined Snapchat this week.

Lost Warehouse Inventory? What to Do and When to Write It Off

Cerasis

No one wants to think about lost warehouse inventory, and it can be organizationally frustrating to determine the best process to find, research, and rectify inventory discrepancies. One of the primary reasons a company implements a warehouse management system (WMS) is to know the exact location of their inventory; if the inventory is not there, one might think it is easy to just write that inventory off the books. Automate Inventory Control to Reduce Errors.

This Week in Logistics News (April 9-13, 2018)

Talking Logistics

Earlier this week at MODEX 2018, the company announced the release of Locus Robotics Advanced Navigation 3.0 Geodis warehouse inventory takes off with drones (Air Cargo News). I am off this morning to get a tour of Locus Robotics.

Top 2018 Blog Posts – Part 2

Logistics Trends and Insights

Our top blog posts for 2018 continues with the top 5 posts: 5. 2018 Evolving Freight Forwarding Market – And finally, our top blog post is our annual freight forwarding paper.

This Week in Logistics News (June 11-15, 2018)

Talking Logistics

Driver pay has surged so far in 2018, NTI reports, with gains expected to continue (CCJ). At the Descartes Evolution 2018 conference in March, Mark Holifield, Home Depot’s Executive Vice President of Supply Chain and Product Development, discussed how the retailer is investing $1.2

How to Measure Inventory Effectiveness

Arkieva

I discussed some of the possible pitfalls when using inventory turnover as a measurement for effective inventory management. In this post, I’ll describe a simple technique for measuring inventory effectiveness. How to Measure Inventory Effectiveness. How to Measure Inventory Effectiveness was first posted on March 6, 2018 at 7:24 am. ©2017

IoT Inspired Smart Warehouses Are Reinventing Inventory Management

Cerasis

The internet allows for unlimited scalability and boosted efficiency in warehouse inventory management. The so-called “smart warehouse” takes advantage of these defining factors by connecting systems to streamline inventory management and overall productivity. WHITE PAPER] The Top Supply Chain Trends that Will Impact Supply Chain Management in 2018. Everything is connected to the internet, including consumer and industrial devices and systems.

This Week in Logistics News (May 14-18, 2018)

Talking Logistics

At the Descartes Evolution 2018 conference in March, Mark Holifield, Home Depot’s Executive Vice President of Supply Chain and Product Development, discussed how the retailer is investing $1.2

Inventory Optimisation for Greater Inventory Control

Unleashed

The biggest challenge of inventory control is getting the balance right, to meet the challenge of matching supply volumes to customer demand and with any good enterprise or activity, it usually pays to start with the basics. Inventory optimisation basics. Unique, short and unmistakable numbers for inventory items. An accurate beginning counts of all inventory stock. Software to track inventory activity in real time. Robust inventory control policies.

Don’t Take a Holiday from Inventory Management

Talking Logistics

The Importance of Inventory Management. When it comes to inventory management, new trends are demonstrating that less is more. Having less inventory on-hand increases liquidation, allowing for a more agile response to shifting consumer trends. Companies that have too much inventory on-hand right now are struggling to clear out space ahead of the season, slashing prices and concerning stakeholders as profit margins creep downward.

These Advanced Supply Chain Technologies will Solidify the Digital Supply Chain in 2018

Cerasis

The type and capabilities of supply chain technology is expanding, and technology will only grow more important in effective supply chain management in 2018. WHITE PAPER] The Top Supply Chain Trends that Will Impact Supply Chain Management in 2018. According to Greg Kefer of Supply Chain Digital , blockchain technology will be another driving force in supply chain management throughout 2018.