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If you’re managing inventory with spreadsheets , you’re not alone—but you might be falling behind. While Excel has long been a go-to for planners, the landscape has changed. In this dynamic environment, inventory management powered by spreadsheets is no longer a viable strategy. But familiarity doesn’t equal effectiveness.
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.
Probabilistic forecasting is revolutionizing demand forecasting, supply planning, and inventory optimization by significantly improving forecast accuracy and decision-making across distribution networks. Enhancing Inventory with Probabilistic Forecasting A supply chain is a complex ecosystem influenced by dynamic variables.
Joint Microsoft and ToolsGroup planning solution will support POOLCORP’s goals of improved service to customers and increased profitability amid demand and supply volatility. Recent supply disruptions have made supply chain agility even more crucial,” said David Barton, ToolsGroup’s general manager of North America. About ToolsGroup.
Aptean is orchestrating the Blue Yonder/E2open/Infor playbook of buying undervalued assets and milking the maintenance and Software-as-a-Service contracts with existing customers. Legacy players like Adexa, Arkeiva, Gains, E2open, Orchestr8 Solution, and ToolsGroup will be bought and sold with little impact to the market.
Solutions enable real-time inventory availability and fulfillment optimization for retailers. BOSTON—June 7, 2022 — ToolsGroup , a global leader in supply chain planning and optimization software, today announced its acquisition of Onera, a provider of real-time inventory availability and fulfillment software solutions to retailers.
<Bear with me… > Here I share a nine-step process in an attempt to help companies unravel the process for buying supply chain planning software. They center on how to make a good decision in the purchase of supply chain planning solutions. Most have purchased software, but are dependent on Excel spreadsheets.
We now have new technology players entering the market like AIMMS, Enterra Solutions, OM Partners, Quintiq, ToolsGroup, and Terra Technology. The implementations were longer, the purchase costs were higher, and the functionality was less robust and lacking flexibility. For many, it is confusing. It keeps old gals like me in business.
Excess inventory – it’s taking up your warehouse space, tying up working capital, and limiting your planning team’s range of motion. It’s time to Marie Kondo your supply chain by eliminating excess inventory and learning how to avoid it in the first place. Let’s talk about: What Excess Inventory Is. What Causes Excess Inventory.
As an analyst in the supply chain market for 15 years, I have written many articles on best-of-breed technology companies purchased by a larger company. In 2007-2014 Terra added inventory management, multi-tier demand sensing, transportation forecasting, and long-term forecasting. However, there are no sure bets.
In the midst of the pandemic and other events that remind us uncertainty is a constant, Rob and Mauro have shown their mettle,” said ToolsGroup CEO Joseph Shamir. They’ve inspired their teams with their persistent drive to deliver excellence and helped our customers keep service levels high despite demand and supply irregularities.
Lora Cecere, founder of Supply Chain Insights, noted in a recent webinar that a common outcome of these failed implementations is that supply chain organizations end up in “Excel ghettos where lots of people are touching data but not improving it.”.
Over time, I’ve been fortunate to work in groups where both men and women were well represented, and I’ve had excellent leaders who championed my career by giving me the freedom to chart my own path. The truth is women have long been underrepresented in supply chain leadership. Q&A with three inspiring women in supply chain.
… The one issue retailers should we wary of — if this trend tracked by Coresight holds true — is ending up with too much inventory on their hands after the holiday season, if they’re planning to sell more than what ends up being the case. As Thomas pointed out, inventory management is especially critical during the holiday season.
Love it or hate it, daily necessities need to be purchased. Whichever reasons fuel the motivations of your target market, here are the top trends shaping how they’ll buy – and how you can stay front of mind and ahead of the competition. eCommerce Purchases and “The New Normal” Retail Categories. Data source: eMarketer.
Gartner analyst Paul Lord has developed a framework to better understand inventory trade-offs by categorizing those decisions according to the objectives they are meant to achieve: structural, operational and situational. Many companies struggle with decisions such as “How many days of sales or inventory turns per year should we target?
I suggested a POC as a way to “try before you buy” and mitigate the risks of choosing a supply chain planning solution that doesn’t fit your organization or live up to its marketing materials. For example, let’s say excess inventory is an issue, but you want to ensure whatever solution you choose doesn’t impact your service levels.
Since the start of the Covid-19 pandemic, 79% of consumers have indicated that they are looking for more bargains than before, and 46% say they are willing to wait to purchase at a better price “no matter how long it takes”. They train the consumer not to buy in-season because they can come back in three months and get a discount.
Had they gone public (nice in hindsight), they could have had funds to ride out the dot.com era and to buy the company that bought them. A system that optimizes inventory (especially in a time of turmoil) can remove excess capital and focus those resources on products in high demand. Some projects make money to fund other projects.
If we look back at history, 70% of companies implemented Vendor Managed Inventory (VMI), however two-decades later only 1% of companies use VMI processes to drive a better demand signal. Inventory strategies and processes to absorb the error. When I hear this, I raise my hand to ask some basic questions. Moving Forward.
Jeff Bodenstab, Vice President of Marketing at the ToolsGroup, points to a Gartner survey highlighting the need for more automation in planning.[4] “Still too much Excel being used. . “Still too much Excel being used. ”[3] That search for automated efficiencies extends into the planning arena. They are: 1.
I was an avid student of supply chain excellence; and in this role, I watched as best-of-breed solution after best-of-breed solution replaced with more complicated technology. Buying patterns are changing quickly, and the insights are multi-dimensional. Inventory piles up and revenues gaps are closed by pushing product into the market.
And last year Costa Express won the “Technology” category award at the European Supply Chain Excellence Awards , also a top honor. With the transformation, Costa also added a new logistics partner, IT system, and purchasing process - all simultaneously. Attention Getting Results. Big changes lead to big results.
We now have new technology players entering the market like AIMMS, Enterra Solutions, OM Partners, Quintiq, ToolsGroup, and Terra Technology. The implementations were longer, the purchase costs were higher, and the functionality was less robust and lacking flexibility. For many, it is confusing. It keeps old gals like me in business.
We now have new technology players entering the market like AIMMS, Enterra Solutions, OM Partners, Quintiq, ToolsGroup, and Terra Technology. The implementations were longer, the purchase costs were higher, and the functionality was less robust and lacking flexibility. For many, it is confusing. It keeps old gals like me in business.
As shown in Figure 1, the biggest obstacles to power improvement/performance are traditional supply chain thinking, the lack of organizational alignment and a focus on functional excellence. Companies using traditional technologies coupled with Excel spreadsheet ghettos will be at a disadvantage. These are tough to overcome.
BOSTON, April 6, 2021 – ToolsGroup, a global leader in supply chain planning software , is proud to support global humanitarian and environmental organizations including Unicef, the Ocean Cleanup, World Wildlife Fund, and Banco Farmaceutico Foundation. In January, the company launched the first annual ToolsGroup Green Race.
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