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. Implementing inventory optimization.

Inventory, inventory, inventory. They’ve all got it – inventory.

Enchange Supply Chain Consultancy

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

Supply Chain Inventory Optimization – Beyond the Analytics

Cerasis

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.

Inventory Can Be Scary

ToolsGroup

“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

End to End Supply Chain Visibility - Solving The Data Problem

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.

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. The concept of inventory health is based on this expectation.

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

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.

Vendor-managed inventory and distribution planning in the food and beverage industry – here’s something to chew on

The 21st Century Supply Chain

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.

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.

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?

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.

Three Key Themes in the New Inventory Optimization Vendor Ranking

ToolsGroup

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

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.

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.”

More Inventory, Less Warehouse Space: How Virtual Inventory Works

PLS Logistics

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

What Your Inventory Reveals about Your Reverse Logistics

PLS Logistics

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

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 ?

Lean Inventory: Using Lean Initiatives To Manage Inventory

Cerasis

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.

Lean 166

1 Inventory Optimisation Success Story

Enchange Supply Chain Consultancy

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.

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.

Frock Stocks & FMCG Supply Chain Inventory Decisions

Enchange Supply Chain Consultancy

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.

Is Poor Inventory Performance Holding You Back?

The 21st Century Supply Chain

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 Best Way to Set Inventory Targets?

ToolsGroup

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.”.

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 ….

Inventory Optimization: How to Handle Slow Movers

Supply Chain Nation

You may be wondering why the number of raspberry gourmet coffee boxes Kroger has in their inventory at their store in rural Georgia even matters, but it does and here’s why: Inventory management is a critical part of every company’s supply chain and is a large part of the operating costs in all industries. Handling inventory of fast movers, items that are sold quickly and in large amounts, is very well understood.

Seven Steps to Rethinking Supply Chain Inventory Optimization

Ryder Exchange

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.

How Supply Chain Inventory Optimization Minimizes Costs

Appterra

Many companies struggle with supply chain inventory optimization. They need to overcome distributed data and inventory, navigate complex networks of locations, and manage configurations of thousands of parts. Inventory management is the.

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.

It’s Time to Revisit Vendor Managed Inventory

synchrono

A few decades ago, Vendor Managed Inventory (VMI) was a hot topic. Many manufacturers saw it as a way to reduce inventory levels and costs. As materials are received into inventory, they are scanned into the system – and, they are scanned again when consumed.

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

PINC YMS

They are: digital supply chain drones inventory robotics

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.

Dealing with Inventory Shrink

Enterra Insights

Inventory shrink remains a problem for every retailer. The post Dealing with Inventory Shrink appeared first on Enterra Solutions. How big of a problem? A year ago Joel Griffin (@SecInfoWatch) reported, … Continued. Business Cognitive Computing Digital Supply Chain Supply Chain Technology digital supply chain Enterra Solutions Stephen DeAngelis

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

[Webinar] Inventory Planning Methods & Tips for Optimizing Your S&OP Process Today.

Arkieva

Join us as we discuss how to use inventory or supply planning to properly calculate and project future inventory taking into consideration capacity constraints. Webinar] Inventory Planning Methods & Tips for Optimizing Your S&OP Process Today. was first posted on February 8, 2018 at 7:50 am. ©2017 ©2017 " Supply Chain Link Blog - Arkieva " Use of this feed is for personal non-commercial use only.

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

Enchange Supply Chain Consultancy

CEO Inventory Management & Stock Control Supply Chain Analytics Integrated Business Planning retailI touched on the problem of expanding UK waistlines a few blogs ago and the topic popped up again recently when I was out and about shopping for clothes – no, not me.

Three New Ways Retailers Can Improve Inventory Performance

ToolsGroup

By using data to stock items with higher forecasted demand, they can reallocate cash that would normally be tied up in poorly performing inventory, avoid margin erosion from markdowns and dead stock, and increase overall on-shelf availability metrics.

Inventory Checks Powered By Drones

Talking Logistics

Drones are enabling organizations to use employees more efficiently and improve inventory accuracy in a world where consumers want everything cheap and now. Every company on the planet that has a significant supply chain operation is plagued by inventory reconciliation problems.

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. The basic and most limited type of inventory management system is a manual system.