Leading Challenges in Inventory Visibility and How to Solve Them

Cerasis

Timeliness, speed, and order accuracy are some of the most in-demand aspects of today’s omnichannel world, but significant challenges still exist with inventory visibility. Failure to overcome these challenges will lead to additional problems throughout the supply chain, resulting in poor.read More. The post Leading Challenges in Inventory Visibility and How to Solve Them appeared first on Transportation Management Company | Cerasis.

How to Measure Inventory Health

ToolsGroup

Financial executives measure inventory health with metrics like inventory turns because they view the firm from a financial viewpoint - such as how much working capital is being tied up. But from an operational supply chain planning perspective, turns is a crude metric because it doesn’t recognize the difference between “good” and “bad” inventory. Gartner delved into this issue in a recent report, Build the Capability for Inventory Health Assessment.

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

Supply Chain: Learning How to Dance

Supply Chain Shaman

Dutifully, no matter how bad I performed in the last class, I return to the barre, extend my right hand and start a new class. There is a soothing familiarity to refine moves that defy my capabilities. As a result, companies struggle: The Supply Chain Needs to be Real-time.

How To 242

How to Track Your Inventory Stock Out Levels Using These Severity Codes & Alerts

Arkieva

It’s also essential to note that, not all stock outs or out-of-stock(OOS) carry the same severity levels or require the same form of actions. How to Track Your Inventory Stock Out Levels Using These Severity Codes & Alerts was first posted on March 15, 2018 at 8:58 am. ©2017 In an ideal world, your products would have on-shelf availability whenever your customer needs them. However, this is often not the case for many businesses.

Complimentary Gartner Report: Improve S&OP Decision Making with Scenario Planning

Traditionally, planning teams have aimed for one number, one plan. But with uncertainty on the rise, they need to build more flexibility into their process to account for changing business conditions. It’s time to shift gears and embrace variability with different scenarios.

How to Measure Inventory Effectiveness

Arkieva

I discussed some of the possible pitfalls when using inventory turnover as a measurement for effective inventory management. In this post, I’ll describe a simple technique for measuring inventory effectiveness. How to Measure Inventory Effectiveness. How to Measure Inventory Effectiveness was first posted on March 6, 2018 at 7:24 am. ©2017

How to Determine if Your Distribution Fulfillment Strategy is Working

Cerasis

Knowing that your distribution fulfillment strategy is working gives you a better insight into how your business is performing. This is important for reducing order fulfillment errors, improving your inventory management and remaining competitive. Supply chain leaders must learn to recognize the warning signs of risky fulfillment strategies, the indicators of success, and how to.read More.

How to Make Supply Chain Complexity Work to Your Advantage

ToolsGroup

With supply chain complexity increasing at an unprecedented rate, perhaps the biggest challenge for businesses is figuring out how to navigate this uncertainty to deliver service profitably. When you break it down, Jeff Bezos figured out how to do three seemingly contradictory things at once: deliver exceptional service levels, at the lowest cost possible, and manage complexity. Blog Inventory Optimization Supply Chain Planning Featured

How To 191

Turn a Good Demand Forecast into the Optimum Inventory Plan

ToolsGroup

How Do You Turn a Good Demand Forecast into the Optimum Inventory Plan? They care if you have the inventory they want when they want it. But carrying too much inventory can reduce profits and might not be practical for some items such as fresh goods.

What is Vendor Managed Inventory? How to Make VMI Work

My Office Apps

What is Vendor Managed Inventory? How to Make VMI Work. Looking to streamline your supply chain and reduce inventory costs? You might want to look into Vendor-Managed Inventory (VMI). A VMI software might be the solution – as long as you know the best practices to make it work. Vendor Managed Inventory is a business arrangement where the vendor of a product takes responsibility for making sure the buyer has the agreed inventory.

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. How many distribution centers do we even need, and is that number feasible?

How to Optimize Reverse Logistics!

Supply Chain Game Changer

Subscribe to Supply Chain Game Changer. Optimize Reverse Logistics article and permission to publish here provided by Raanan Cohen at bringg.com. If you think reverse logistics isn’t relevant to your business, think again. How can you optimize reverse logistics?

Regaining control: Inventory management best practices (Part four)

Kinaxis

by Richard Cushing In part one of my inventory management best practices series I argue that inventory cannot be managed until it is controlled, and present the notion our general willingness to apportion blame upon unreliable data from enterprise resource planning (ERP) systems is misplaced. Further investigation reveals that external forces—controllable forces—exert influence upon the system, skewing data to a point at which it becomes unreliable.

How to Enter Inventory in QuickBooks

TradeGecko

Tracking inventory in QuickBooks is a great way for businesses to save time and money while also optimizing performance and increasing customer satisfaction. How to enter inventory in quickbooks

How to Balance Inventory and Stop Giving Up Margins Immediately

Blue Ridge

Razor-thin margins are NOT an okay casualty of business, if you know how to balance inventory intelligently. See how in this video. Did you know the average distributor is sitting on $1.25 for every $1 they sell? Today's growing uncertainties around supply chain are totally fixable in just a few keystrokes. Blogs and Articles AI

Video 40

How to Tackle the On-demand World of Inventory Management

Unleashed

Inventory management is an around the clock operation and the pace isn’t slowing down. This means the way we manage inventory has rapidly adapted as well. Now, consumers can not only go into stores but order online and have it delivered to their doorstep. There are lockers and drop points for buyers to pick up as well. So, how do we keep up with these fast-moving entities? Optimise with inventory on demand. You only have to do this action once.

How To Improve Your Financial Health With Better Inventory Management

Unleashed

Small business owners may underestimate the importance of good inventory management. However, inventory management can be make-or-break when it comes to financial growth and long-term financial health. In this article, we explain how business owners can manage inventory to improve financial health. What does inventory management have to do with financial health? What is the key to selling more product?

Inventory Optimization: How to Handle Slow Movers

Supply Chain Nation

Do you know how many boxes of raspberry gourmet coffee Kroger should keep at their store in rural Georgia? How would that computation be different from the logic needed to calculate the number of boxes of Corn Flakes at the same store? Handling inventory of fast movers, items that are sold quickly and in large amounts, is very well understood. However, many open questions still arise when it comes to the other part of inventory: Slow movers.

Leading Challenges in Inventory Visibility and How to Solve Them

Veridian Solutions

Timeliness, speed, and order accuracy are some of the most in-demand aspects of today’s omnichannel world, but significant challenges still exist with inventory visibility. Failure to overcome these challenges will lead to additional problems throughout the supply chain, resulting in poor customer service, says Dave Blanchard of Industry Week. Supply chain leaders need to understand the leading challenges in inventory visibility, and how to solve them.

How To Prevent and Mitigate 3 Common Inventory Management Problems

Unleashed

When managing inventory, there are a wide array of challenges and problems that face business owners. Inventory is one of your most important assets. It’s imperative to prevent and mitigate inventory management problems in order to protect the lifeblood of your business. We’ll highlight a few of the common inventory management problems facing business owners and discuss how they can be mitigated with practical solutions. Inventory going off.

22 warehouse pros share the biggest mistakes made with inventory management (and how to avoid them)

6 River Systems

Managing warehouse inventory, on its face, seems a simple concept: Keep enough stock on hand to fulfill orders, but not so much stock that your warehouse is filled to the brim with inventory that won’t move for months (or years). Too much slow-moving inventory means you’re spending money to store products that aren’t earning immediate revenue, and too little means backorders and unhappy customers who are likely to seek out your competition.

Still managing your inventory with spreadsheets?

ToolsGroup

Most companies are still trying to use Excel to optimize their inventories. Supply Chain Insights’ 2018 Inventory Optimization Technologies Study suggests the number may be as high as 75%. Much of inventory is a hedge against uncertainty.

How to Make the Most of Your Supply Chain Software

OneSCM

How to Make the Most of Your Supply Chain Software. We recently sat down with Joe Harris, Product Manager at OneSCM, regarding the ways to make the most of your OneSCM supply chain software. Blockchain Support – OneSCM has been modified to write Smart Contracts on the Ethereum blockchain to support two use cases: Cold Chain Tracking and Serialization. A: Here are the most common questions: “How does your solution automate Supplier Management?”

Understanding supply chain dimensions to maximize ROI

Kinaxis

by Richard Cushing To improve supply chain management and to maximize the return on inventory investment, it’s imperative to understand the supply chain dimensions that help define how your inventory is consumed. Chances are the supply chain managers are already intuitively aware of just how critical these two components are to their operations. However, there is another important factor to consider.

Chinese New Year Shutdown 2020: How to Prepare

ShipBob

The upcoming Chinese New Year is on January 25, 2020, but the holiday shutdown can affect production times at China’s manufacturing companies for as long as two months as many workers travel back to rural villages to celebrate with friends and family. How should I prepare?

ABC Segmentation for Inventory Management

Arkieva

A look at how you can use product and customer ABC segmentation for Inventory management. ABC Segmentation for Inventory Management was first posted on June 19, 2018 at 2:25 pm. ©2017 Inventory Management abc analysis example abc analysis excel abc analysis graph abc analysis ppt abc analysis slideshare abc analysis steps how to calculate abc analysis importance of abc analysis

Seven Misconceptions on Managing Inventory in a Market-Driven World

Supply Chain Shaman

When it comes to the management of inventory in value chains, frustration abounds. Executive, after executive, lament, “They have purchased many technologies and sponsored many projects to reduce inventories, but they are not seeing results.” ” I have been studying the evolution of inventory technologies as an industry analyst since 2002. Inventory is the culmination of many business decisions. The Inventory Management Journey.

How to Get Started with Value-add Forecasting (Part 2)

Logility

So, the promise of using statistical algorithms, forecasting and predictive analytics is now added to the list of a company’s number one priorities. Here are a few steps that you will need to take to deploy your forecasts successfully. In far too many cases, forecasts are done as a fishing expedition where analysts run the data through predictive algorithms to see what “pops.” These types of models are doomed to fail. Take a data asset inventory.

Gain inventory control with multiple warehouse management tactics

TradeGecko

It’s not hard to understand why: typically having a warehouse per region ensures that stock can be shipped to the customers faster. Inventory Management Wholesale Productivity How toNot many businesses can deny the need for a couple or more warehouses somewhere along the supply chain.

WMS and eCommerce: How to Use Supply Chain Technology to a Competitive Advantage

Cerasis

eCommerce is growing faster than ever, and everyone is working to find the latest and greatest way to overcome their competitors. The application of supply chain technology is essential to maintaining a competitive advantage in the height of eCommerce growth.

What’s Causing Your Inventory Management Problems and How to Avoid Them

Unleashed

Businesses are quickly realising that inventory control is absolutely necessary to run an efficient business and make money in the process. Especially in today’s competitive marketplace, business owners simply can’t afford to have money go down the drain. We take a look at common inventory management problems, causes and how best to avoid this. Identifying symptoms of inventory management problems. Likely causes of inventory management problems.

How to calculate average inventory?

TradeGecko

What is average inventory? Average inventory refers to the average quantity of stock available in a specified period of time. The purpose of the average inventory formula is to calculate the value of the inventory within that period of time. This is done by finding out the average of the beginning inventory and end, for the accounting period. Average inventory formula. Inventory Management Tips

Look beyond the Turnover Ratio! Here’s a Simple Way to Create an Effective Inventory Management Process

Arkieva

Use this simple tool for identifying areas of potential improvement in the business to create an effective inventory management process. This type of measurement allows for a more widespread understanding of the nature of inventory and fosters action to prevent a build-up of non-value-adding "drag". Here’s a Simple Way to Create an Effective Inventory Management Process was first posted on February 20, 2018 at 8:09 am. ©2017

Supply chain hangover: how to avoid software deployment mishaps

Kinaxis

Ontario residents, brewers and unions complained on social media after a June update to the Liquor Control Board of Ontario’s (LCBO) warehouse management software left alcohol in warehouses instead of on store shelves. Here are three lessons to keep in mind before updating your supply chain planning software: Lesson one: Don’t make major changes to your supply chain software during your peak season. Read now: 5 steps to supply change management success ].

How to Manage Inventory in a Growing Business

EazyStock

Inventory Management, Business Growth & Expanding Product Portfolios. At EazyStock we talk to a lot of small- and mid-sized businesses (SMBs) who are struggling to effectively manage their inventory. Increased stock levels to ensure stock availability.