Five Reasons Why Are We Not Making Progress on Inventory Management

Supply Chain Shaman

At the session, we discussed why companies have not made more progress on inventory management. In the case of Apparel and Automotive industries there are slight improvements, but they have shifted inventories to suppliers. Days of Inventory Pre and Post-Recession.

Inventory Management

LeanCor

Inventory management, network infrastructure, and labor deployment are all critical components necessary to meet this intense customer demand. Inventory Management Strategy. This leaves us with one option: pushing the boundaries of current inventory management practices.

Inventory Management in Service Logistics Industry

Talking Logistics

What is Inventory Management? For Manufacturing it’s about carrying zero or minimum inventory. For Logistics the focus is on high inventory turns. For Management: a balancing strategy, etc…. Inventory Management: There’s No One-Size-Fits-All Approach.

Inventory Management: Technology Enablers

The 21st Century Supply Chain

by Andrew Dunbar The modern day inventory manager described in this series is the backbone of your company’s inventory planning process. It should be up-to-date (daily at a minimum), and include all the input data required to make your inventory planning decisions.

The Future of Inventory Management

The 21st Century Supply Chain

by Andrew Dunbar This post concludes my inventory management blog series. Inventory management is not a stand-alone business process that occurs after other processes are complete. How does your inventory manager’s role compare to the one I’ve described here?

Don’t Take a Holiday from Inventory Management

Talking Logistics

The Importance of Inventory Management. When it comes to inventory management, new trends are demonstrating that less is more. Having less inventory on-hand increases liquidation, allowing for a more agile response to shifting consumer trends. Companies that have too much inventory on-hand right now are struggling to clear out space ahead of the season, slashing prices and concerning stakeholders as profit margins creep downward.

Inventory Management in Manufacturing Environment

LeanCor

Firms today are beginning to understand more and more that high levels of inventory aren’t just detrimental to costs but also for hiding other potential issues. The beginning stage of inventory management doesn’t begin at the dock door rather it begins with the supplier.

[PODCAST] Why Digital Tools to Optimize Inventory Management Allows Supply Chain Execs to Stay More Strategic at Every Link in the Supply Chain

Cerasis

On today’s episode, we welcome Margaret Bendis, US Marketing Specialist for a company called EazyStock a cloud-based software-as-a-solution (SaaS) that optimizes inventory management. What is the future of digitization as it relates to inventory management.

The Growth of Inventory Management

Unleashed

Inventory management originated even before the Industrial Revolution and has certainly evolved with time and expertise to become what it is today. The need for inventory management has always existed where trading was a livelihood and the stock management was imperative to protect one’s resources. A brief history of inventory technology. In particular, the advancement of inventory management requires the development of the inventory manager’s role.

The Many Types of Inventory Management Technology

Cerasis

There are diverse types of inventory management technology and systems, designed to properly sort, control and act upon information with a company’s inventory. As explained by Kenneth Hamlett of the Houston Chronicle , the two dominant types of inventory management technologies include manual and automated systems. But, there are additional levels of inventory management in between. Automated Inventory Management Technology.

10 Commandments of Inventory Management

Supply Chain Opz

Inventory management is one of the most important tasks for supply chain management professionals. However, most inventory control theories are too complicated or too difficult to apply to real world situations.

Inventory Management Levers – Success Through Collaboration

The 21st Century Supply Chain

by Andrew Dunbar So you’re an inventory manager, and your CFO just asked you to reduce inventory by 10% before year end to free up some capital for next year’s big investment in R&D. Figure 1: The theoretical on hand inventory level of a single item.

IoT Inspired Smart Warehouses Are Reinventing Inventory Management

Cerasis

The internet allows for unlimited scalability and boosted efficiency in warehouse inventory management. The so-called “smart warehouse” takes advantage of these defining factors by connecting systems to streamline inventory management and overall productivity. Warehouse managers must understand why changes of standards and use of the Internet of Things (IoT) are needed and how smart warehouses can meet the demands of today and tomorrow.

Why inventory management should be a company-wide conversation

The 21st Century Supply Chain

by Alexa Cheater Don’t get caught having your company’s inventory management conversation alone! Re-evaluating your inventory management practices can help you overcome rising supply chain costs, increasing customer demand and the growing complexity of global operations.

What is Inventory Management?

EMERGE App

What is Inventory Management? Inventory management, in a nutshell, describes your efforts to manage, assess and report on the flow of your stock of goods. You might be using pencil-and-paper, spreadsheets or sophisticated inventory management software to do this.

What is Web Based Inventory Management Software?

EMERGE App

You run a lean business model with minimal overheads and using web-based inventory management software plays a big part in this. And you expect the same standard for inventory management software. What to Expect from Web-Based Inventory Management Software.

Manufacturing Day 2017: [Infographic] The Evolution of Inventory Management Strategies

Arkieva

When you talk to any manufacturer no matter how large or small about their concerns, improved inventory management is bound to be a part of the conversation. To celebrate manufacturing day today, we thought it would be beneficial to take a closer look at how inventory strategy keeps evolving using an infographic from Arkieva based on research conducted by Aberdeen.

How EazyStock Enhances Acumatica ERP Inventory Management

EazyStock

When most inventory/supply chain managers think of their inventory, they think of it in terms of inventory management: how can I get by till the next period? This is where inventory optimization comes into play. More than just Inventory Optimization.

Retail Inventory Management Tips to Get The Most Out of Your Warehouse

Cerasis

The wrong retail inventory management strategy increases carrying costs and makes it impossible to stay competitive. Common obstacles encountered when it comes to effective inventory management include having poor visibility into fast-moving versus slow-moving product, extensive travel times between bin locations, and lost revenue due to poor labor productivity. WHITE PAPER] The Top Supply Chain Trends that Will Impact Supply Chain Management in 2018.

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.

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

Who Should Take Ownership of Finished Product Inventory Management?

Arkieva

I mean who suffers directly when finished product inventory runs amuck by level, mix, or availability? Who Should Take Ownership of Finished Product Inventory Management? Inventory Inventory Management Memoirs of a Black Belt finished goods examples finished goods inventory definition finished goods inventory example finished goods inventory management finished goods planning types of inventory management

The Major Trends in Warehouse Inventory Management for 2017

Descartes

That’s why you need to adopt and refine trends in warehouse inventory management. Warehouse management is becoming more complex. The post The Major Trends in Warehouse Inventory Management for 2017 appeared first on Appterra.

How Inventory Management is a problem the size of Australia

The Network Effect

Inventory distortion costs retailers nearly $158 for every man, woman, and child on the planet. Billion a year is the cost of Inventory distortion in North America, an amount equivalent to the annual revenues of Kroger, Home Depot, and Target combined. chem7/Flickr.

Are you getting the most out of your inventory management process?

The 21st Century Supply Chain

by Andrew Dunbar Inventory is often the single largest asset on a company’s balance sheet and your inventory management process can have a huge impact on your organization’s bottom line. What does an inventory manager need to know on a daily basis?

How AI Solves the Riddles of Inventory Management

Aera Technology

by Kaushal Dave, Vice President of Cognitive (AI) Solutions, Aera Technology The problems that pervade inventory management are well known: Excess inventory languished in warehouses, tying up millions of dollars in working capital. How can we best manage expiring inventory?

The Best of Both Worlds: Integrating Inventory Management Software and Accounting Software

Unleashed

Inventory management software has become an indispensable tool for many successful business owners who recognise the importance of accurate inventory management. Even for new business owners, it doesn’t take long to recognise the importance of inventory management software and accounting software alike. The former is essential for accurately managing inventory, and the latter for effectively defining the current standing of your company.

10 Inventory Management Hacks You Can Do in 10 Days

Supply Chain Opz

Inventory management is one of the most important tasks for supply chain management professionals. However, most inventory control theories are too complicated or too difficult to apply to real world situations.

Warehouse Cost Reductions: 3 Understandings Driven By Inventory Management & Lean Principles

Cerasis

Today, I will now address how a focus on inventory will allow for warehouse cost reductions as well. A Focus on Inventory Control Begets Warehouse Cost Reductions. First, look at inventory as MONEY/CASH. Inventory cost is defined as the cost of holding goods in stock.

Why Ignoring Automated Inventory Management is Killing your Supply Chain

EazyStock

Inventory management. Automated inventory management is nothing new to huge, enterprise-sized companies. So what exactly is automated inventory management? Excuses for not Automating Inventory Management.

How to Change Your Inventory Management Strategy in the Omnichannel Era

Elementum

Managing stock for a variety of commerce channels is becoming more complex, costly, and risky. As recent losses by H&M and other major brands illustrate, poor inventory management can be a major cause of financial distress. The U.S.

4 Ways Big Data is Changing Inventory Management

EazyStock

High data volumes present the biggest challenge to conventional IT structures since on-premise solutions typically do not have the capacity to manage large datasets. Big Data and Master Data Management. Master data manages core information that is critical for business processes.

Is your inventory manager a firefighter or an air traffic controller?

The 21st Century Supply Chain

by Andrew Dunbar This is the second blog in my series on Inventory Management. You can find the first one ‘ Are you getting the most out of your inventory management process? Managing inventory can be a challenging job! Inventory managers have to balance multiple conflicting priorities, support multiple internal and external customers, and are typically responsible for millions of dollars spread across multiple sites.

Inventory Management eBook: Batch & Expiry

TradeGecko

Learn how batch and expiry tracking can help you manage and keep track of product movements and help you grow your business in this FREE eBook. Supply chain management Inventory ManagementRegardless of whether you’re a brand owner, wholesaler, or distributor keeping track of your products across the supply chain is important, so you can trace all your products in the event of a recall.

eBook 40

A Good Tutorial in Inventory Management vs. Optimization

Supply Chain Matters

Inventory Management Omni-Channel Commerce Supply Chain Impacts Service Parts Planning Supply Chain Planning Supply Chain Technology implications of omni-channel retail in supply chain management multi-echelon inventory optimization technology omni-channel customer fulfillment technology support Supply chain Matters blog ToolsGroup