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The Backorder, March 20 2024

Unleashed

Avoid having too much capital tied up in inventory; use stock optimisation software to set optimal min and max levels based on historical data and sales trends. This will help you slash your inventory and storage costs in one fell swoop. Optimise your reorder points. Lease big ticket items. Here’s what he had to say.

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Essential Guide for Demand Forecasting in 2024

ThroughPut

Demand forecasting is a critical component of supply chain management, especially in the complex and unpredictable market landscape of 2024. Accurate forecasts are essential for maintaining inventory balance, ensuring customer satisfaction, and achieving financial stability. The main benefits of accurate demand forecasts are: 1.

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Why Sustainability is Becoming Critical for Manufacturers in 2024

OptiProERP

While large corporations have been at the forefront of manufacturing sustainability initiatives, in 2024, more small and mid-sized manufacturers are expected to incorporate green initiatives, recognizing that sustainability is essential for their bottom line.

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AI in the Food Industry: Case Studies, Challenges & Future Trends

ThroughPut

billion in 2024. As per a recent study, AI can help reduce production costs by almost 20% in the agriculture sector! Detection of nutritional constituents and allergens in food, optimizing routes and schedules of food delivery, and inventory management are some of the other ways AI is helping the food production industry.

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Retail Returns: The Key to Driving Business Growth

ToolsGroup

Returns come with plenty of challenges around logistics, inventory, and predicting volatile sales trends. In another example, Narvar’s study on “keep the item” returns demonstrates that: 65% of people appreciate that returnless refunds save them time and money. 40% would be more likely to recommend the retailer to others.

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What You Need To Know About The State Of The Retail Worker Shortage

ToolsGroup

Yet according to retail advisory firm IHL , “The most significant challenges to inventory distortion are the availability of workers and the disruptions outside of the immediate control of the retailer.” Source: Bloomberg.com. Leaked internal research reveals Amazon is at risk to run out of workers for its US warehouses by 2024.

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Key Trends and Themes for Supply Chain and Logistics in 2024

SCMDOJO

In 2024, the logistics and supply chain industry will continue its transformative journey, driven by technological advancements and growing consumer expectations. Let’s see the most common trends in 2024. As a result, it can help logistics companies to optimize inventory levels, reduce waste, and minimize the dreaded stockouts.