Gaining Clarity on Inventory Effectiveness

Supply Chain Shaman

The impact of complexity on inventory is not quick. To help, today I want to share some of the insights from our recent Inventory Optimization study. Inventory management is a hot issue. Companies invest in project after project, yet inventory levels remain the same. In business there are many drivers of inventory, and the management of inventory levels requires discipline and a cross-functional focus. What Drives Inventory Effectiveness?

A Better Tradegecko alternative is EMERGE: Tradegecko Comparison to EMERGE

EMERGE App

We understand that after the acquisition of Tradegecko, it will be decommissioned and users like yourself will need to look for a replacement inventory management system.

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Optimizing Inventory Is About Improving Service While Lowering Inventory. Wait, What?

ToolsGroup

Equally mystifying to people is the concept of inventory optimization. I explain to people that if they’re getting this process right, overall service levels should go up by 3-5% as overall inventory levels decrease by 15-30%. ABC was okay for managing inventory, but not optimizing it.

SKU Optimization: Work Smart, Not Hard To Optimize Inventory

ThroughPut

SKU Optimization: Work Smart, Not Hard To Optimize Inventory. Are you still spending hours on hours sorting through your inventory list and still getting nowhere? And more than that, it’s time to rethink your inventory strategy for the better. Looking to reduce inventory costs?

COVID-19 Month-Over-Month Survey Comparison: Consumer Trends and Their Impact on Retail Supply Chains

BlueYonder

If this is the case, we will see deep discounts from retailers at a level that allows them to cover the cost of goods and flip inventory to cash. Blue Yonder is committed to helping its customers face the unexpected.

Seven Misconceptions on Managing Inventory in a Market-Driven World

Supply Chain Shaman

When it comes to the management of inventory in value chains, frustration abounds. Executive, after executive, lament, “They have purchased many technologies and sponsored many projects to reduce inventories, but they are not seeing results.” ” I have been studying the evolution of inventory technologies as an industry analyst since 2002. Inventory is the culmination of many business decisions. The Inventory Management Journey.

How does eCommerce Affect Inventory Management?

EazyStock

Better Inventory Management for eCommerce. As more and more businesses sell online, they are starting to see the impact that eCommerce has on their inventory management operations. In this post we discuss how eCommerce is affecting inventory management strategies.

Supply Chain News on Inventory Performance 2015 and Some Interesting Comparisons

Supply Chain Digest

Last in a Series, we Look at Different Inventory Turns in 2014 by Dfferent Companies within a Sector

How EazyStock Enhances Acumatica ERP Inventory Management

EazyStock

Inventory management is crucial to ensuring businesses have agile and efficient supply chain operations. This is where an inventory optimization tool comes into play. Inventory optimization is the next level up from basic inventory management processes.

Modest inventory bump not likely to slow freight’s flow anytime soon

The Supply Chain Journal

After a few quarters of sales growth significantly outpacing inventory additions, the two were closer to parity at retailers specializing in general merchandise and household goods during the fiscal first quarter, which concluded at the end of April.

Food inventories ‘literally being eaten into,’ Americold says

The Supply Chain Journal

Food producers’ inventory is “literally being eaten into,” said Fred Boehler, president and CEO, on a Thursday evening call with analysts. Elevated inventories in the first quarter of 2020 also hurt the comparison.

ERP vs MRP: Key Differences and Features

QAD

Managing the shop floor, inventory, operations and scheduling are some of the keys to ensuring a manufacturing business runs smoothly. This software helps production planners forecast and order the appropriate materials and keep appropriate levels of inventory. . Inventory Management.

Your supply chain is costing you money – Reason #6 Not effectively managing inventory.

Kinaxis

Reason #6 Not effectively managing inventory. Unfortunately, all the same kinds of things can happen to your supply chain inventory. Except that your inventory costs millions of dollars. Those of you that manage inventories know how hard it can be to get the quantities just right. If you maintain too little inventory, you have stockouts, line stoppages and unhappy customers. So what strategies are out there to maintain inventories at the “right” level?

2021 Supply Chain and Inventory Management Trends

EazyStock

2021 Supply Chain and Inventory Management Trends for the US. Here we are, one year later, trying to determine the 2021 supply chain and inventory management trends to adopt.

ERP inventory management – how advanced is your ERP?

EazyStock

What is ERP inventory management? When it comes to inventory management, ERP systems are ideal for tracking stock along the supply chain, monitoring stock levels and order processing. ERP inventory management limitations. Does your ERP optimize your inventory levels?

3 Common Inventory Management ‘Sins’—And How to Avoid Them

Logistics Bureau

Three rules are really important in inventory management. Excess inventory. 3) Draft an Inventory Policy. If you don’t have an inventory policy: 1) You won’t get consensus. 4) Comparisons will be impossible. Three rules are really important in inventory management.

Coronavirus Series – Inventory Management Challenges & Solutions

EazyStock

Common challenges include unpredictable customer behavior, unreliable inventory supplies, rising logistical costs and internal capacity constraints. Inventory optimization software is an important piece of the puzzle. Save Time by Automating Inventory Management Calculations.

Federal medical stockpile still rebuilding inventory as pandemic subsides

The Supply Chain Journal

That request pales in comparison to the $16 billion , for use through 2024, that Congress allocated for the stockpile through the CARES Act last year. However, the stockpile still hasn’t met its inventory goals for surgical masks, gowns and gloves. .

ERP vs CRM: Key Differences and Benefits

QAD

Warehouse & Inventory Management. Manufacturing Trends cloud erp complete customer management CRM Customer relationship management effective enterprise management enterprise resource planning erp On-premise ERP SaaS Software as a Service Software comparison Supplier management

Creating an Actionable Plan for Unlocking Working Capital with Inventory Optimization

Arkieva

For many companies, the term “inventory optimization” has become more of a catch phrase than an actual reality. The idea of cutting inventory costs while maintaining the same level of customer service is rather elusive. Yet, almost all manufacturing businesses would agree that unlocking inventory costs could mean unlocking working capital that could be used in other areas of the business or even as a direct profit margin driver. Inventory Optimization Goals.

High Inventory Levels: Overcoming the Challenge

EazyStock

High Inventory Levels: A Problem for Everyone. Small- and mid-sized businesses (SMBs) often ignore high inventory levels. But surprisingly, high inventory levels aren’t only a challenge for SMBs; large enterprise corporations are fighting similar battles. In fact, imbalances in inventory occur in companies of every size and in every industry. However, depending on the circumstances, there can also be advantages to having high inventory levels.

Financial Benchmarking for Inventory Turns and Working Capital

Arkieva

Using so called orbit charts, we have benchmarked companies on EBIT% versus Inventory Turns. That benchmark helped to reveal the ‘best practice frontier’, which in turn helped in setting aggressive but aligned targets for EBIT% versus Inventory Turns. As recaptured in Figure 1, the inventory turns are a measure on the ‘cash’ side of the triangle. Figure 1 – Aligning EBIT% and Inventory Turns to align the Supply Chain Triangle.

Average Inventory Formula | How to calculate average inventory?

EMERGE App

Whether you run a multinational or a micro-enterprise , you agree with me that a healthy inventory is a crucial ingredient of business success. So if you can keep a crisp inventory, there will be fewer hurdles for your business. . And this is where average inventory comes in. .

Shaw Industries implements Collaborative Forecasting and Inventory Optimization

Supply Chain Movement

Shaw Industries, a carpet manufacturer and floorcovering provider, has recently decided to implement the Central & Collaborative Forecasting and Inventory Optimization solution from OM Partners within its Hard Surfaces division. ” Cases capacity distribution integrated planning interface Inventory Optimization itsubwaymap Manufacturing Melissa Crawley planning production scenario scheduling Shaw Industries

4 Ways Big Data is Changing Inventory Management

EazyStock

It is tempting to draw a comparison between big data and master data management (MDM) as the two terms are interconnected, but they are different. Big data exists in real-time and involves prompt access to data, alerts and inventory management and control metrics through cloud computing systems. This information may include inventory levels, customer information, sales and other basic data that can be moved onto one file. 4 Ways Big Data is Changing Inventory Management.

Coronavirus Series Part 3 – Improving Inventory Planning During the COVID-19 Pandemic

EazyStock

In this four-part blog series we look at the impact COVID-19 has had on supply chains and how inventory optimization software can help. In this post we focus on inventory planning and how to optimize stock levels despite erratic customer behavior and supply restrictions.

Supply Chain Leaders Rearranging Deck Chairs? Yes, I Think So.

Supply Chain Shaman

They rock back and forth in improving singular metrics but struggle to improve a portfolio of growth, margin, inventory performance, and asset utilization. When we look at public companies at the intersection of operating margin and inventory turns or growth and Return on Invested Capital.

Understanding Inventory Reconciliation

Unleashed

It can be a pretty big task, but inventory management is necessary to keep a company afloat. One piece of the inventory management puzzle is inventory reconciliation. Let’s delve into the ins and outs of inventory reconciliation so you have a better understanding of its role in the warehouse. So, what is inventory reconciliation? This comparison allows you to see if there is a difference between your inventory stock records and what you actually have on hand.

How to Calculate Beginning Inventory

EMERGE App

When the backbone of your company is service provision, you may not need to worry about keeping records like inventory or any other stock details. Loosely speaking, that would imply the level of your skill is the size of your inventory. What is an inventory?

8 Inventory Costing Methods That You Might Not Know About

EMERGE App

Inventory costing or valuation is an accounting concept that has a direct impact on your gross profit and thus taxable income. Methods of valuing inventory are simply different cost-flow assumptions about how to allocate your cost of goods available for sale. They do not resemble your physical flow of goods, but rather, they allocate costs to either cost of goods sold or your ending inventory. We’ll start by explaining why inventory costing is important.

What is a perpetual inventory system?

EMERGE App

Any business owner will tell you that effective inventory management is the lifeline of any business. A company has to find an optimal balance between too much inventory that accumulates storage costs and too little inventory that does not meet customer demand.

Average Cost Inventory Method: Definition, Formula & Method

EMERGE App

In this post, you will understand what the account inventory cost method is and what it involves. Cost accounting does not necessarily mean you have to make comparisons with other businesses. Average cost inventory method. Average Cost Inventory Method; Definition.

Rossmann Optimizes Its Inventory with RELEX

RELEX Solutions

On August 31st, the journal ran an article about Rossmann’s and RELEX’s joint supply chain project where Michael Rybak (Managing director Sales, Logistics and IT) and Jürgen Mattulke (Head of Inventory Management) of Rossmann spoke about their impressive results. Overstocking of promotional products was cut by 25 % in comparison to the previous year, whereas out-of-stocks were reduced by 10 %. The post Rossmann Optimizes Its Inventory with RELEX appeared first on RELEX Solutions.

Inventory Reporting: Creating a Great Business Report

Unleashed

Inventory reporting. Online inventory control solutions not only help to improve inventory control but provide accurate, real-time insights, generating a variety of inventory reports to support great business reporting. Inventory reports can be included in the body of, or as appendices to business reports to support conclusions or to validate recommendations. Historic inventory reports are valuable tools to assist with sales predictions and demand forecasting.

Inventory Costing Methods: First In First Out (FIFO) or Average Costing?

EMERGE App

. Calculating the Cost of Goods Sold (COGS) can be done in many different ways, but two of the most popular inventory costing methods are FIFO and Average Costing. Inventory Costing Methods: Comparing both methods.