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?

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.

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.

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.

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.

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.

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?

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

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.

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.

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

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.

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.

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.

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.

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.

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.

Top 10 reasons why aerial robots (autonomous drones) for inventory management make sense

PINC YMS

They are: digital supply chain drones inventory robotics

Growing recognition within pharma that inventory management should be a top priority

The Network Effect

There is growing recognition within pharma that inventory management should be a top priority. Industry insiders are beginning to put increasing focus on improving their inventory management practices, which lag far behind those of other industries.

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.

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.

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

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.

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

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

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.

Supply Chain News on Inventory Management by Retail Category

Supply Chain Digest

We Aggregate Inventory Turns Across More than a Dozen Retail Sectors

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.

Apptricity Inventory Management

Supply Chain 24/7

From receiving through consumption, easily maintain all aspects of your inventory and get detailed information regarding tracking, counting and reconciling throughout the lifecycle

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.”

Inventory Management Trends: Inventory Reduction

Supply Chain 24/7

Retailers are rethinking their inventory strategies, and are targeting their sales approach to keep inventory levels flat or slightly down, and while other corporations such as Walmart and Target are cutting back on their inventory, they have moved products to shelves in faster time

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.