Remove Eliminating Excel in Purchasing Remove How To Remove Inventory
article thumbnail

How Can You Improve Value in Your Supply Chain?

Supply Chain Shaman

Compared to peer group performance for 2013-2023, 59% of the Gartner Top 25 score below their peer group on average revenue growth, 41% below inventory turns, and 41% below their sector on invested capital. I observe that organizations are unclear on outcomes and the definition of supply chain excellence. How Do You Drive Value?

article thumbnail

Machine Learning in Demand Planning: How to Boost Forecasting

ToolsGroup

Even more impressive, lost sales due to stockouts can decrease by up to 65%, while inventory reductions of 20% to 50% are possible. This advanced analysis allows businesses to predict promotional lift with unprecedented accuracy, ensuring optimized production schedules and inventory positioning through sophisticated supply planning.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Just Jump

Supply Chain Shaman

At the time, many business leaders did not know how to type and had no idea how to use a computer. In my first classes, I taught the group how to speak the language of demand—forecastability, Forecast Value Added (FVA), backcasting, demand and market latency, and market drivers. Only 15% of inventories are safety stock.

article thumbnail

Dancing in the Ring of Fire

Supply Chain Shaman

As a supply chain leader, he is struggling how to dance in the ring of fire. Each executive has a different perspective on the definition of supply chain excellence, but they are never discussed and aligned. The focus by Anne, the CIO, is on the deployment of an outdated ERP system purchased five years ago. Let me explain.

article thumbnail

Step Past AI Hype Drive Real Value

Supply Chain Shaman

Most of the business networks were hollowed out by venture capitalists or purchased by opportunists. How to do this? How do you drive value? The questions to ask are, “How does the improvement of engines improve work? How do you know you have a better outcome or decision?” In the discussion, don’t be shy.

article thumbnail

Inventory Life Cycle: Your Guide to Master Inventory Management

SCMDOJO

Leveling up your inventory life cycle can be crucial, but keeping all the fundamental factors jumping is essential to let the life cycle evolve. However, if the life cycle stock is healthy, inventory management is smooth. Inventory management revolves around the pivotal concept of the product life cycle. Click here!

article thumbnail

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

Kinaxis

Over the next several weeks, I’ll outline these issues and discuss some ideas around how to avoid these practices. Reason #4 Making key decisions by modelling the supply chain in Excel. Reason #6 Not effectively managing inventory. I lost track of how many carrots we had and ended up buying more when we really didn’t need any.