Remove Forecasting Remove Inventory Remove Manufacturing Remove Seminar
article thumbnail

Why probabilistic forecasting is better for inventory optimization

ToolsGroup

Last month we published a primer on probabilistic forecasting , an alternative to deterministic or ‘single number’ forecasting. To understand the relationship between probabilistic forecasting and inventory, view your supply chain as a dynamic system, subject to uncertainty and unpredictable change.

article thumbnail

26 warehouse pros reveal the most important factors to consider when moving to an automated warehouse

6 River Systems

Rupy Sawhney is the Heath Fellow in Business and Engineering at the University of Tennessee, combining both fields through his knowledge of lean manufacturing, the optimization of production without a drop off in quality or worker health. Rupy Sawhney. The latter question is especially pertinent for B2B environments.

Insiders

Sign Up for our Newsletter

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

article thumbnail

The Long Tail of the Supply Chain: Part 2 - Pareto is Dead

ToolsGroup

In last week’s blog , Lora Cecere emphasized the need to forego traditional forecasting and replenishment strategies in the long tail. But fast moving consumer goods manufacturers are now seeing about 50% of their revenue from the tail. Forecast quality is crucial for everyday, fast-moving items. Pareto is dead”.

Modeling 120
article thumbnail

3 Key Multi-Echelon Inventory Optimization Challenges and How to Overcome Them

Arkieva

When it comes to inventory optimization , companies often have to play a delicate balancing game to ensure that they have optimal levels of inventory. If your forecast numbers are too high, you run the risk of holding costly excess inventory and reducing available cash on hand. in multi-echelon inventory optimization.

article thumbnail

50 expert tips on improving warehouse efficiency & productivity

6 River Systems

Offer cross training and provide continual training seminars on new procedures to improve productivity.” To measure the warehouse productivity, the management must apply standard measurements that can be used for operations that occur in the warehouse, for example, perform physical inventory or place goods in the picking area.

article thumbnail

Top 25 Supply Chains of 2018

Material Handling & Logistics

Also, for whatever reason, Gartner limits the scope of the Top 25 to companies in the manufacturing, retail or distribution sectors. On the CSR front, the company says that it has diverted 95% of manufacturing waste from landfills, and has reduced greenhouse gas emissions by 16.8% Media Image. transactionID.

Gartner 81