Amongst the many variables in running a Supply Chain, the one certainty in FMCG, Pharmaceutical and Agri businesses is that inventory is solely in the eye of the beholder. FMCG Forecasting & Demand Planning Inventory Management & Stock Control Supply Chain Analytics MORE
In my last two blogs I offered three reasons why multinationals are still struggling with inventory optimisation. This is da story of how one organisation managed to turn around decades of frustration trying to optimise their inventory. MORE
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. MORE
by Alexa Cheater Our partner Celestica recently published the following article, ‘ Is your company being held hostage by poor inventory performance? ’ Poor inventory performance can create a significant obstacle to growth and profitability. MORE
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. MORE
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. Implementing inventory optimization. MORE
Even though 90% of inventory is stationary in the supply chain, according to industry experts, inventory accuracy at distribution centers, warehouses, and plants ranges from 89% to 99% *. That’s because most of the inventory management process is still a manual activity. innovation inventory robotics Logistics Viewpoints warehouse drones MORE
The 2018 Nucleus Research Inventory Optimization (IO) Value Matrix Report has just been released, and analyst Seth Lippincott identifies the latest technology trends, top inventory optimization solution providers, and the strengths and weaknesses of each vendor. Inventory Optimization MORE
Source: Gartner, Cover Considerations—How to Optimize Retail and Consumer Product Inventory Targets, 2017. But I have to differ with the conclusions of a recent report, “ Cover Considerations — How to Optimize Retail and Consumer Product Inventory Targets.”. MORE
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. MORE
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? MORE
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. MORE
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. MORE
“Your inventory problem is scary because you’re selling out before you can make new items to meet demand”. Many retailers agree that inventory can be scary. Inventory distortion” (the combined cost of out-of -stocks and overstocks) accounts for $1.1 MORE
While analytics offer remarkable insights into supply chain inventory optimization, warehouse managers must still understand how the use of slotting optimization technology impacts other processes. With 7 percent of America’s gross domestic product (GDP) tied up in inventory, reports the 21 st Century Supply Chain Blog , your organization must go beyond the analytics and understand the broad impact of analytics in your company. Better Inventory Management Needs Complete Control. MORE
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.” MORE
Principal Analyst James Cooke of Nucleus Research just published his 2016 Inventory Optimization Value Matrix which highlights this year’s key trends, including functionality and usability. He reiterates why his firm sees inventory optimization (IO) solutions as so important. MORE
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 …. MORE
What is vendor-managed inventory? VMI is the process whereby a supplier or vendor manages and replenishes inventory at a customer’s location at the levels required by the customer. The benefits of the vendor-managed inventory process include: Enhanced visibility for vendor. MORE
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. MORE
Gartner Research analyst Paul Lord has developed a thought-provoking approach (shown in the above diagram) for tailoring supply and inventory tactics to different inventory segments. As we showed in a previous blog, it’s not the only way to segment your inventory, nor nearly the best. MORE
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. MORE
Drones are enabling organizations to use employees more efficiently and improve inventory accuracy in a world where consumers want everything cheap and now. logistics innovation digital supply chain inventory drones inventory robotics MORE
Editor’s Note: Last year ToolsGroup became Microsoft’s partner for Multi-echelon Inventory Optimization (MEIO) in Industrial accounts. Microsoft and I collaborated on a blog introducing the basic concept of MEIO, comparing it with Inventory Optimization. Inventory Optimization MORE
To enhance the customer’s shopping experience, retailers are building virtual inventories. Virtual inventory is an all-inclusive list of a company’s products that can be sold to a consumer; the products might be in a retail store, stock room or warehouse. Inventory Transportation Spen MORE
Customer service FMCG Pharma Inventory Management & Stock Control Supply Chain AnalyticsSenior Management has been on quite a shopping spree over the last few months taking advantage of various big name high street stores that have lost their lustre and even their premises in some cases. MORE
What is Lean Inventory Management? More firms are implementing lean inventory management techniques to reduce costs, improve flexibility and have more time to focus on their customers. What is Lean Inventory Management? Attributes of Lean Inventory Management. MORE
Inbound manufacturing inventory management can be a costly challenge, even for the best supply chain and logistics teams. The solution for some, as was written previously on this topic , is to carry excess inventory to compensate for deficiencies in the supply chain management. MORE
When supplies get tight, inventory optimization can help focus production around the most critical products while reducing requirements for other items. Inventory (both finished goods and materials) can then be allocated to more critical demand. Inventory OptimizationAs the (U.S.) MORE
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 MORE
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. The concept of inventory health is based on this expectation. MORE
Inventory planning is especially important to small-to-midsize businesses (SMBs). Nobody wants to tie up more working capital than necessary in inventory, but SMBs typically have leaner resources, and a higher cost of capital means it’s more expensive to fund excess stock. MORE
With the popularity of online shopping, the supply chain has become more multifaceted, increasing the importance of an organization’s reverse logistics strategy and inventory management practices. Logistics Transportation Supply Chain Inventory MORE
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 ? MORE
Inventory Related Topics 
ToolsGroup
AUGUST 7, 2018
Editor’s Note: Last year ToolsGroup became Microsoft’s partner for Multi-echelon Inventory Optimization (MEIO) in Industrial accounts. Microsoft and I collaborated on a blog introducing the basic concept of MEIO, comparing it with Inventory Optimization. Inventory Optimization
ToolsGroup
OCTOBER 31, 2017
“Your inventory problem is scary because you’re selling out before you can make new items to meet demand”. Many retailers agree that inventory can be scary. Inventory distortion” (the combined cost of out-of -stocks and overstocks) accounts for $1.1
ToolsGroup
JUNE 19, 2018
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.
The 21st Century Supply Chain
MARCH 22, 2017
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. Implementing inventory optimization.
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inventory more clearly, you can see. inventory. 1DIGITAL TRANSFORMATION, END-TO-END VISIBILITY, AND. THE "DATA PROBLEM". Given the macroeconomic cl imate and the. Amazon effect," many companies are. looking to digital ly transform their. businesses. For decades, businesses have largely.
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ToolsGroup
FEBRUARY 6, 2018
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. The concept of inventory health is based on this expectation.
Cerasis
SEPTEMBER 11, 2017
While analytics offer remarkable insights into supply chain inventory optimization, warehouse managers must still understand how the use of slotting optimization technology impacts other processes. With 7 percent of America’s gross domestic product (GDP) tied up in inventory, reports the 21 st Century Supply Chain Blog , your organization must go beyond the analytics and understand the broad impact of analytics in your company. Better Inventory Management Needs Complete Control.
ToolsGroup
MAY 8, 2018
When supplies get tight, inventory optimization can help focus production around the most critical products while reducing requirements for other items. Inventory (both finished goods and materials) can then be allocated to more critical demand. Inventory OptimizationAs the (U.S.)
Supply Chain Shaman
OCTOBER 22, 2015
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.
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Supply chain visibility gives a clear view of inventory and the. activities involved in the transport of that inventory. A Blueprint For Supply Chain Transformation The Data First Approach Introduction Over the past few decades, supply chains have evolved from a sub-function.
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ToolsGroup
JUNE 8, 2018
Gartner Research analyst Paul Lord has developed a thought-provoking approach (shown in the above diagram) for tailoring supply and inventory tactics to different inventory segments. As we showed in a previous blog, it’s not the only way to segment your inventory, nor nearly the best.
The 21st Century Supply Chain
JUNE 29, 2015
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.
PINC YMS
NOVEMBER 21, 2017
Drones are enabling organizations to use employees more efficiently and improve inventory accuracy in a world where consumers want everything cheap and now. logistics innovation digital supply chain inventory drones inventory robotics
ToolsGroup
MARCH 20, 2018
The 2018 Nucleus Research Inventory Optimization (IO) Value Matrix Report has just been released, and analyst Seth Lippincott identifies the latest technology trends, top inventory optimization solution providers, and the strengths and weaknesses of each vendor. Inventory Optimization
The 21st Century Supply Chain
JULY 23, 2015
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?
ToolsGroup
AUGUST 1, 2017
Source: Gartner, Cover Considerations—How to Optimize Retail and Consumer Product Inventory Targets, 2017. But I have to differ with the conclusions of a recent report, “ Cover Considerations — How to Optimize Retail and Consumer Product Inventory Targets.”.
Arkieva
MARCH 6, 2018
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
The 21st Century Supply Chain
AUGUST 18, 2017
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.
Supply Chain Shaman
SEPTEMBER 3, 2015
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.
The 21st Century Supply Chain
FEBRUARY 22, 2018
What is vendor-managed inventory? VMI is the process whereby a supplier or vendor manages and replenishes inventory at a customer’s location at the levels required by the customer. The benefits of the vendor-managed inventory process include: Enhanced visibility for vendor.
LeanCor
NOVEMBER 18, 2013
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.
Supply Chain Shaman
MAY 3, 2015
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.”
PLS Logistics
MARCH 22, 2016
To enhance the customer’s shopping experience, retailers are building virtual inventories. Virtual inventory is an all-inclusive list of a company’s products that can be sold to a consumer; the products might be in a retail store, stock room or warehouse. Inventory Transportation Spen
PLS Logistics
DECEMBER 8, 2016
With the popularity of online shopping, the supply chain has become more multifaceted, increasing the importance of an organization’s reverse logistics strategy and inventory management practices. Logistics Transportation Supply Chain Inventory
The 21st Century Supply Chain
JUNE 22, 2015
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 ?
Cerasis
JANUARY 8, 2015
What is Lean Inventory Management? More firms are implementing lean inventory management techniques to reduce costs, improve flexibility and have more time to focus on their customers. What is Lean Inventory Management? Attributes of Lean Inventory Management.
The 21st Century Supply Chain
MARCH 25, 2015
by Alexa Cheater Our partner Celestica recently published the following article, ‘ Is your company being held hostage by poor inventory performance? ’ Poor inventory performance can create a significant obstacle to growth and profitability.
The 21st Century Supply Chain
JUNE 15, 2015
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.
Enchange Supply Chain Consultancy
DECEMBER 2, 2015
In my last two blogs I offered three reasons why multinationals are still struggling with inventory optimisation. This is da story of how one organisation managed to turn around decades of frustration trying to optimise their inventory.
ToolsGroup
MARCH 22, 2016
Principal Analyst James Cooke of Nucleus Research just published his 2016 Inventory Optimization Value Matrix which highlights this year’s key trends, including functionality and usability. He reiterates why his firm sees inventory optimization (IO) solutions as so important.
Enchange Supply Chain Consultancy
AUGUST 4, 2016
Customer service FMCG Pharma Inventory Management & Stock Control Supply Chain AnalyticsSenior Management has been on quite a shopping spree over the last few months taking advantage of various big name high street stores that have lost their lustre and even their premises in some cases.
Enchange Supply Chain Consultancy
NOVEMBER 18, 2015
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 ….
Ryder Exchange
JUNE 30, 2015
Inbound manufacturing inventory management can be a costly challenge, even for the best supply chain and logistics teams. The solution for some, as was written previously on this topic , is to carry excess inventory to compensate for deficiencies in the supply chain management.
ToolsGroup
JUNE 21, 2016
Inventory planning is especially important to small-to-midsize businesses (SMBs). Nobody wants to tie up more working capital than necessary in inventory, but SMBs typically have leaner resources, and a higher cost of capital means it’s more expensive to fund excess stock.
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