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?

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.

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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.

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.

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.

Sports Authority-A Disturbing Twist to Consignment Inventory Management Practices

Supply Chain Matters

Consumer Goods Focused Supply Chain Inventory Management Procurement and Sourcing Retail Supply Chain Supplier Collaboration challenges within B2C retail supply chains independent blog analysis and insights on supply chain management Sports Authority bankruptcy protection Supply chain Matters blogEarlier this month we alerted Supply Chain Matters readers to the unfortunate filing of bankruptcy by retailer Sports Authority.

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.

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?

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.

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.

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.

7 Hospital Inventory Management Techniques to Reduce Costs

AFFLINK

Proper hospital inventory management can be tricky: administrators and healthcare supply chain professionals must make sure their facilities have enough product to meet demand from doctors and nurses, but not too much that it negatively impacts the hospital’s budget or takes up too much space.

Five good habits that make for better supermarket inventory management

RELEX Solutions

There are few challenges in retail tougher than managing groceries ; optimizing a broad inventory that includes fresh and short-shelf-life products is not easy. In DC environments we usually do this by introducing batch level inventory balances with ‘sell-by’ date information.

Omni-channel inventory management like the customer matters

RELEX Solutions

The importance of inventory management for efficient e-commerce and omni-channel business is a theme we’ve blogged about fairly regularly. The essence of why good inventory management should be at the front of all retailers’ minds. Inventory Management

Fulfillment, Network Expansion, and the Implications on Inventory Management

FLEXE

Customer demand that is predictable with manageable variability. Inventory that does not tie up large amounts of working capital and is not perishable. You’re not out of the woods yet, inventory management becomes a bigger part of the equation.

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

Muted U.S. Economic Growth Levels Point to Needs for More Advanced Inventory Management Capabilities

Supply Chain Matters

Business media has of-late pointed out that that overall inventory levels among retailers and manufacturers has been unusually high, which is impacting both current procurement activity as well as […]. Inventory Management Omni-Channel Commerce Supply Chain Impacts Sales and Operations Planning Supply Chain Planning Supply Chain Technology inventory management trends LLamasoft Inc.

Supply chain inventory optimization – Beyond the analytics

The 21st Century Supply Chain

But the sheer complexity of supply chain networks, and the impact design decisions have on operational performance, makes supply chain inventory management aligning inventory investments with on-time customer delivery and margins a major challenge.

Gaining Clarity on Inventory Effectiveness

Supply Chain Shaman

The impact of complexity on inventory is not quick. To help, today I want to share some of the insights from our recent Inventory Optimization study. Inventory management is a hot issue. Companies invest in project after project, yet inventory levels remain the same.

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.”

The Major Trends in Warehouse Inventory Management for 2017

Appterra

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.

Picadeli to offer the freshest ingredients using RELEX’s inventory management system

RELEX Solutions

Picadeli , which has over 1,500 salad bars in Sweden, Finland and Denmark, has chosen RELEX’s supply chain management system to handle its inventory management and replenishment. Because the concept’s success rests on offering customers the freshest ingredients and a versatile range, Picadeli searched for a replenishment and inventory management solution that minimizes waste while making sure that the right products are always available in each salad bar.

Predictive Inventory Management: Fulfilling Orders Even When Your Shipment is Late

Enterra Insights

The post Predictive Inventory Management: Fulfilling Orders Even When Your Shipment is Late appeared first on Enterra Solutions. Artificial Intelligence Best Practices Business Risk Management Supply Chain Technology

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.

Global FMCG Supply Chain Transformed by Analytics

Enchange Supply Chain Consultancy

Customer service FMCG KPI Supply Chain Inventory Management & Stock Control Supply Chain AnalyticsThe Challenge A leading global FMCG company undertook an aggressive supply chain improvement programme across 150 markets.

Probabilistic Forecasting: Right Fit for Your Business?

Supply Chain Shaman

To meet the need, the Spairliners planning team knew they needed help in inventory planning. To provide one billion yearly components flying hours, manage over $200M inventory, and guarantee with 95-99% target for on-time delivery for their customers. Change management.

Science of Supply Chain: Researchers Affirm Benefits of Eliminating Information Delays

The Network Effect

Digital Supply Chain Supply Chain Management information latency inventory management science of theoretical minimums STM supply chain optimizationThe “Science of Theoretical Minimums” (STM) might sound dry and academic, but lurking within is a proven path to dramatic. The post Science of Supply Chain: Researchers Affirm Benefits of Eliminating Information Delays appeared first on The Network Effect.

The internet of (supply chain) things

The 21st Century Supply Chain

Last year, Deloitte University Press published an article on the Internet of Things titled “Forging links into loops: The Internet of Things’ potential to recast supply chain management”. Inventory Tracking – Despite all the efforts manufacturers put into inventory accuracy it still happens.

Do Not Get Trapped by Traditional Holiday Product Forecasting Methods This Year

Supply Chain Matters

Consumer Goods Focused Supply Chain Inventory Management Online Customer Fulfillment Retail Supply Chain Sales and Operations Planning Supply Chain Planning continuous planning methods Supply chain Matters blog supply chain product demand sensingEarlier this month, the National Retail Federation (NRF) released a rather optimistic forecast of expected holiday retail sales for the months of November and December.

Maximizing Cash Flow: Operational Effectiveness in Bulk Distribution

Logistics Viewpoints

It doesn’t matter if the cost of supply is at an all-time high or fluctuating wildly, the impact of excess inventory and inefficient operations can be crippling to cash flow. Guest Commentary Inventory Management Private Fleet Supply Chain Optimization Supply Chain Planning

Supply Chain Is at Its Best When You Can’t See It

The 21st Century Supply Chain

This is, of course, all thanks to supply chain managers working diligently to keep supply chain issues out of the news, but despite their best efforts, supply chain problems do happen.

3 reasons why multinationals are still struggling with inventory

Enchange Supply Chain Consultancy

Inventory Management Michael Thompson Integrated Planning supply chain analyticsLast week I had another chat with a client about inventory.The essence of the client's problem was - "Why can't we get our stock right? We either have too much ….

Is Inventory Waste or an Asset?

Supply Chain Shaman

We were discussing the results of the planning benchmarking work that we have just finished, and I was sharing some insights on inventory management when one of the panelists emphatically stated, “Inventory is a waste to manage. Inventory is both.

Looking Beyond Red Arrows

Supply Chain Shaman

As a result, supply chain leaders focus on unrealistic goals of inventory or costs, they will throw the system out of balance. In critical industries like semiconductor and computer hardware, growth is down, operating margin is off and inventory turns are declining.

Inventory Metrics: From Insight to Action

The 21st Century Supply Chain

by Andrew Dunbar Over the last several weeks, this blog series on Inventory Management has explored the objectives and roles of inventory managers and outlined several of the improvement levers available to them. So, what do you need to measure to manage your inventory ?

Fashion Retailers: Is inventory eating into your profits? (It is…)

Enchange Supply Chain Consultancy

This is not as regular an event as it may be for senior management but due to the imminent arrival of a few dry and summery days, I was in need of new shorts and T-shirts. CEO Inventory Management & Stock Control Supply Chain Analytics Integrated Business Planning retail

Azteca Foods Craves Inventory Management System

Inbound Logistics

When Azteca Foods outgrew its manual pallet tracking system in its production facility, Barcoding Inc. delivered a solution

FMCG Food Waste: Supply chain speed and agility v inventory.

Enchange Supply Chain Consultancy

FMCG Forecasting & Demand Planning Inventory Management & Stock Control WASTE FoodHooray! Many supermarket chains now sell imperfect or misshapen fruit and vegetables at a discount. As you may know I am a big fan of buying this type of food as taste has nothing to do with shape based on my massive culinary knowledge. Whether my potatoes are knobbly, or my parsnips look like Donald Trump, I simply don’t care.

Food 22

A Tour of Healthcare Supply Chain Innovation in Action

Supply Chain Matters

According to a 2015 survey of hospital executives commissioned by Cardinal Health, services reimbursement followed closely by the increasingly higher costs of supplies are two of the biggest challenges facing these executives. Financial issues, drug shortages and efficiency of the overall organization follow as major concerns. One can notice a common theme among hospital executives […].