11 Inventory Management Best Practices

Supply Chain Game Changer

Featuring Our 10 Best Inventory Management Articles! Inventory Management Best Practices article originally published by, and permission to publish here provided by, Dave Joseph at veridian.info. Supply chain leaders are continuously looking for ways to improve inventory management, and the role of technology in the supply chain offers significant advantages. Use ABC Analysis to Categorize Your Inventory. Recognize the Relationship Between Sales and Inventory.

Chemical Giant Uses Inventory Tracking for Solving Key Supply Chain Issues

Roambee

As an industry that generates trillions of dollars in sales and employs millions globally, the chemical industry is ubiquitous when it comes to products and technology.

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Containerized Shipping – Technology Advancements And Value Creation

Gravity Supply Chain

Learn about the benefits of containerization and how Gravity supply chain solutions’ container tracking feature enables real time visibility of your cargo.

How Artificial Intelligence and Global Economic Factors Affect Inventory Optimization

ThroughPut

Through the targeted use of Artificial Intelligence (AI), Machine Learning and other technologies, leading global innovators are constantly trying to enhance the effectiveness of their inventory management. What one can’t ignore, however, is all the external factors that also directly, and indirectly, affect inventory processes.

Key Questions for a Successful Distribution Network

Speaker: Irina Rosca, Director of Supply Chain Operations, Helix

As we plan for the world of eCommerce and the customer expectation of quick, free shipping, our ability to forecast is turned on its head. If we're going to offer the speed of shipping and variety of inventory that today's customers have come to expect, there are a lot of different questions that need to be asked. This webinar will cover: Strategies for making high-level decisions about your network design and inventory distribution.

How to Successfully Integrate an E-Commerce Shipping Plan Into Your Traditional Shipping Practices

Cerasis

E-commerce value will exceed $4 trillion by 2025, and demand for e-commerce requires seamless integration between traditional shipping practices and an e-commerce shipping plan. Its global nature makes conventional shipping strategies inefficient and utterly unworkable. Challenges in Integrating an E-Commerce Shipping Plan A primary issue in integrating e-commerce shipping goes back to the extent of current shipping practices.

SanDisk’s Story of Customer Segmentation Strategies Using Inventory Postponement

Supply Chain Shaman

I find that in this world of the global multi-national that procurement processes have become convoluted and increasingly complex. (In Instead, in the SanDisk journey , they adjusted the speed of response to their customer segments, and actively designing inventory postponement strategies. Founded in 1988 in Milpitas, California, SanDisk is publicly traded on NASDAQ with 8,600 employees globally, and market capitalization in 2015 over $13B.

Why Now is the Time to Choose LCL Shipping

CH Robinson Transportfolio

Less than container load (LCL) shipping is rapidly becoming a go-to service option for businesses seeking help in a complex global logistics industry. As COVID-19 affected businesses around the world, the need for expedited LCL shipping grew significantly.

Inventory Optimization 101 – Smart & Effective Inventory Management

ThroughPut

What is Inventory Optimization? Inventory Optimization is defined as a method of balancing the manufacturers’ capital investment constraints and goals along with the defined service-level goals over a large assortment of stock-keeping units (SKUs) while considering all demand and supply volatility situations. It includes the practice of having the right levels of inventory to meet your target service levels while keeping a minimum amount of capital locked for inventory.

Inventory Optimization 101 – Smart & Effective Inventory Management

ThroughPut

What is Inventory Optimization? Inventory Optimization is defined as a method of balancing the manufacturers’ capital investment constraints and goals along with the defined service-level goals over a large assortment of stock-keeping units (SKUs) while considering all demand and supply volatility situations. It includes the practice of having the right levels of inventory to meet your target service levels while keeping a minimum amount of capital locked for inventory.

Drop Shipping: A Perfect Fit for Supply Chain Operating Networks

Talking Logistics

As reported last month by Jennifer Smith in the Wall Street Journal , “A growing number of retailers are relying on suppliers to ship online orders directly to customers, a strategy they hope will help them compete with e-commerce rivals without spending more on inventory. The practice, known as drop shipping, lets retailers offer more products for sale on their websites—such as multiple colors of the same sweater—without having to keep those items in stock.

Touchless Fulfillment and Shipping!

Supply Chain Game Changer

Touchless fulfillment and shipping article, and permission to publish here, provided by Jenis Sheth. But here we are, 8 months after the discovery of the COVID-19 virus in Wuhan, a global pandemic. Touchless Fulfillment and Shipping (New Normal). Subscribe Here! Email Address.

Strategic Logistics: 8 Steps to Controlling Inventory Flow & Driving Warehouse Efficiency

Cerasis

Today we will talk about the flow of strategy as pertains to inventory flow and driving warehouse efficiency. Staying Strategic in the Warehouse with Better Inventory Flow. Throughout the entire order fulfillment process, companies have a duty to ensure optimum warehouse efficiency by appropriately controlling inventory flow. Warehouses should also consider implementing these best practices to ensure effective warehouse management and maintain control and flow of inventory.

Global Trends Podcast Discusses Today’s Challenges

CH Robinson Transportfolio

Tariffs are the hot topic today, but there are a few other conditions causing challenges for today’s global supply chain professionals. Recently, I had the chance to talk with Eric Kleinsorge, publisher of Global Trade Magazine for a GT Podcast titled Global Logistics & Current Market Trends. The post Global Trends Podcast Discusses Today’s Challenges appeared first on Transportfolio.

How international shipping can be improved in today’s global automotive supply chain

The Network Effect

In earlier posts, I talked about order aggregation , new inventory replenishment policies , why a network model makes so much sense , and the all important ASN. Today I want to discuss international shipping management in the context of the new network platforms. . Understanding their supplier responsibilities as exporters is a critical performance component within a global supply chain. Visibility and timing once again take center stage related to international shipping.

Vendor Managed Inventory (VMI): Everything You Need to Know

EMERGE App

Within the global supply chain, vendor managed inventory (VMI) is becoming an essential service. That is why most retailers will opt for managed inventory to guarantee an increase in delivery rates. . In return, this will improve inventory management. Inventory Planners.

5 Tips to Improve Omnichannel Inventory Management

Unleashed

That includes the importance of robust inventory management to retail. Ensuring you don’t fail at order fulfilment begins with understanding your inventory and supply chain. In an increasingly complex eCommerce world, keeping track of inventory is tricky. Many brands are turning to omnichannel inventory management to meet the challenge. We’re going to share five tips to help you make omnichannel inventory work for you. What is Omnichannel Inventory Management?

What is Inventory Optimization?

EazyStock

What is inventory optimization? You’ve heard of inventory management, and you probably already have some inventory management practices implemented in your supply chain. So what is inventory optimization? According to Wikipedia, inventory optimization is: “a method of balancing capital investment constraints or objectives and service-level goals over a large assortment of stock-keeping units (SKUs) while taking demand and supply volatility into account.”.

Vendor-managed inventory and distribution planning in the food and beverage industry – here’s something to chew on

Kinaxis

The report also mentions that the global growth rate is almost double that of the US food industry. Among the many supply chain initiatives taking place today, vendor-managed inventory (VMI) has become an increasingly effective process and business model to help organizations share risk and information between vendors and customers — while benefitting from lower stockouts, reduced uncertainty and lower costs. craft going global in the alcoholic beverages industry).

Ship Smarter: How to Avoid Bottlenecks in Your Global Operations

ThroughPut

You can’t just turn around a giant cargo ship. And when shipping to volatile countries, it becomes even harder. companies with global operations, one of the most effective ways to mitigate risk is to ship smarter. Once cargo has shipped, there are no “backsies.” This is why supply chain managers are always stressing over demand forecasts — something that tops the list of most critical inventory management practices. Shipping Overseas.

Ship Smarter: How to Avoid Bottlenecks in Your Global Operations

ThroughPut

Ship Smarter: How to Avoid Bottlenecks in Your Global Operations. Published October 25, 2019 in Global Trade Magazine. You can’t just turn around a giant cargo ship. And when shipping to volatile countries, it becomes even harder. companies with global operations, one of the most effective ways to mitigate risk is to ship smarter. Once cargo has shipped, there are no “backsies.” economy, but also the global one.

Inventory Management vs Product Information Management (PIM)

Supply Chain Game Changer

The list is long: Inventory management is handled through your ERP Your product development team works through the PML Sales and marketing are housed in the CRM And it feels like half the company is still managing product data in spreadsheets. And, of course, inventory. Subscribe Here!

The Ultimate Global Shipping Guide: Everything You Need to Know

CH Robinson Transportfolio

Succeeding in global shipping can be difficult; you need to navigate transportation options, customs compliance, and ever-changing industry practices. In order to help you remain compliant, keep costs down, ensure efficiency, and stay on top of new trends and technologies, we’ve created this guide to help you conquer all of your global shipping challenges. Developing an optimal global shipping strategy. Ocean shipping.

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The Ultimate Global Shipping Guide: Everything You Need to Know

CH Robinson Transportfolio

Succeeding in global shipping can be difficult; you need to navigate transportation options, customs compliance, and ever-changing industry practices. In order to help you remain compliant, keep costs down, ensure efficiency, and stay on top of new trends and technologies, we’ve created this guide to help you conquer all of your global shipping challenges. Developing an optimal global shipping strategy. Ocean shipping.

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11 Inventory Management Best Practices & the Role of Technology

Veridian Solutions

Supply chain leaders are continuously looking for ways to improve inventory management, and the role of technology in the supply chain offers significant advantages. Instead of relying on traditional, outdated inventory management best practices, supply chain leaders should follow these 11 steps to leverage technology and improve inventory management at last. Use ABC Analysis to Categorize Your Inventory. Recognize the Relationship Between Sales and Inventory.

3 Benefits of LCL Shipping

CH Robinson Transportfolio

3 Benefits of LCL Shipping | Transportfolio. One way global shippers can deal with tight transit times and fast changes in demand is to keep a lot more inventory on hand. You can use less than container load (LCL), which enables you to ship more frequently and still lower inventory costs. It’s easiest to see some of the advantages of LCL by comparing the service to full container load (FCL) shipping. 3 Benefits of LCL Shipping.

Predictions for 2019: What Will the Year Have in Store for Global Shipping?

CH Robinson Transportfolio

With the continued increase in supply chain complexity and greater pressure to keep inventories lean and accelerate shipments, is your supply chain ready for what 2019 has in store? Ultimately, we expect the extra costs will likely fall on consumers for goods shipped around the world. Australia’s recent legislation changes are a few great examples of what the industry may face globally. The post Predictions for 2019: What Will the Year Have in Store for Global Shipping?

Practicing Social Distancing while Keeping Inventory Moving during COVID-19 pandemic

PINC

The global pandemic has thrown manufacturers, distributors, and retailers into a mode that most have never experienced before. live/drop, type of inventory, type of equipment, load status, etc.). There’s no more the need for gate personnel or shipping and receiving office teams to interact with drivers at check-in and check-out. The post Practicing Social Distancing while Keeping Inventory Moving during COVID-19 pandemic appeared first on PINC.

How Adding Ship-from-Store to an Omni-channel Strategy Changes the Retail Network

Talking Logistics

Integrating a ship-from-store strategy can enhance customer service and serve as an important competitive differentiator. The challenge is determining if and when a ship-from-store strategy makes sense and how to best enable this fulfillment option without impacting store productivity and service. Ship from store has gained traction based on changing shopper expectations and buying trends. How does implementing a ship-from-store strategy impact the supply chain network?

Real-Time Inventory Management: 5 Ways Advanced Computer Analytics Will Transform Traditional Inventory Management

Cerasis

Manufacturers have always struggled to obtain the most accurate inventory levels possible. A need for real-time inventory management has arisen, but until now, we didn't have a way to make it a reality. In our predictions’ blog post from earlier this year, we noted how customization will begin to replace traditional inventory management, and essentially, customization goes back to using computer analytics to generate a more accurate, successful view of inventory management.

TradeGecko partners with Easyship to empower global multichannel eCommerce business

TradeGecko

We’re thrilled to announce our latest partnership with Easyship , the all-in-one shipping platform for global eCommerce businesses. This integration allows multichannel businesses to have full visibility into their global supply chain ecosystem - including inventory, orders and fulfillments – across multiple sales channels and markets. Business Growth TradeGecko eCommerce Shipping multichannel

Global Vendor Management: What It Is & Why It’s Essential for Your Shipping Strategy

CH Robinson Transportfolio

Consider this: global sourcing, manufacturing, and sales are advancing rapidly, leaving technology providers in the tough position of playing catch up. That’s why you need a global shipping strategy with a comprehensive global vendor management program. What is Global Vendor Management? Global vendor management programs are based on a foundation of purchase order (P.O.) management of global vendors.

Global Trade Networks Create a Single Version of the Truth for Retailers

Talking Logistics

Drop shipping is becoming more and more popular among retailers as the “Amazon effect” creates intense pressure from customers for quick delivery. Retailers are willing to take the risk associated with releasing the inventory management and fulfilment process so product moves faster. So what are some of the benefits of drop ship as a method of fulfilment? . Drop ship offers the retailer the ability to offset an extended product offering without having the space to store it.

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Coronavirus Exposes Global Supply Chain Fragility!

Supply Chain Game Changer

The ramifications for global supply disruption are enormous, and growing. How should Supply Chain leaders be responding to mitigate the impacts and manage through this latest global crisis? As of the beginning of March 2020 there were over 88,000 cases reported globally and over 3000 deaths. All of this is now being consider a global pandemic. By extension with fewer goods coming in from suppliers inventory levels will be drying up. Subscribe Here!

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Beer Marketing Strategies in a Global Pandemic and the Best 5 Tactics Heading into 2021

Unleashed

It ensures consistent repeat purchases over time, regardless of price, convenience or even a global pandemic. Marketing campaigns largely focussed on mate-ship and camaraderie. Other Half Brewing Company created the All Together global beer collaboration during the pandemic.