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How AI is transforming manufacturing Part 2: Inventory management

SYSPRO Smarter ERP

Manufacturers have incurred significant financial losses due to supply chain disruptions and the subsequent inventory management challenges. With companies producing more and more products worldwide, the issue of keeping track of enormous amounts of parts and materials used in the manufacturing process has grown increasingly complex.

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The Forecasting Accuracy Bugaboo

Logistics Viewpoints

Demand forecasting is the process of making future estimations of how much of a given product will sell by location and time period. Organizations then convert those demand forecasts to the associated quantities of raw materials to purchase, goods to be manufactured, or finished products to ship.

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What is Lean Retail (+ Why Retailers Must Embrace It)

ToolsGroup

Whereas retailers once purchased merchandise largely based on the gut instinct of trend-savvy buyers and the push of whatever manufacturers tried to sell them, nowadays, they need to take a much more customer-focused and data-centered approach. You sell a full pallet of the item every week in most of your stores.

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How AI-Powered Capacity Planning is Changing The Manufacturing Landscape – a ThroughPut Perspective

ThroughPut

How AI-Powered Capacity Planning is Changing The Manufacturing Landscape – a ThroughPut Perspective. The consumer demand scene is constantly changing and when you suddenly land in a situation where your product is in great demand, it can turn into a missed opportunity if you’re not prepared.

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Maybe its time for consumers to consume less…Market Satiation as a new supply chain strategy

NC State SCRC

The current set of supply chain disruptions is being set off by a combination of COVID cases and energy disruptions in manufacturing hubs around the world, labor shortages, lack of capital infrastructure investment, misaligned transportation resources ( a lack of containers, ships, and trucks), and surges in consumer demand.

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The Next Great Disruption Coming to Supply Chains

Kinaxis

3PL’s, Contract Manufacturing, Suppliers, Logistics providers…. Then, they check online for deals and shipping dates. Test scenarios that would optimize inventory costs, postponement options, shipping costs, etc…. They trust other online reviews over the brand. This is how they’ve drawn the ZMOT challenge.

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Want to Increase Sales? Don’t “Brush” the Weather Aside

BlueYonder

While sometimes snow and ice, hurricanes, and heat waves can become major weather events that impact supply chain processes, even more common are the everyday impacts of minor weather fluctuations that can challenge logistics providers, manufacturers, retailers – essentially, all points of the supply chain.