article thumbnail

95% of FMCG retailers say inventory optimisation is top priority for 2021

Manufacturing & Logistics IT

Symphony RetailAI, the provider of integrated AI-enabled marketing, merchandising and supply chain solutions for FMCG retailers and manufacturers, has announced findings from its Category Planning & Assortment Optimisation Executive Survey, conducted in partnership with Incisiv.

article thumbnail

Multi-echelon Inventory Optimization vs Inventory Optimization

ToolsGroup

Now consider that by not optimizing your inventory from a global vantage point you may be creating, if not outright chaos, a much less efficient network than you could have. The basic approach to inventory optimization. The multi-echelon inventory optimization approach.

Inventory 232
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Here’s How to Measure Inventory Health

ToolsGroup

Looking for a relatively quick way to measure inventory health? “It Even though we’re talking about inventory, we first have to understand customer buying behavior—and how that then translates into inventory requirements.”

Inventory 263
article thumbnail

Inventory Management – Navigating the Trenches Without Losing Sight of the Big Picture

Arkieva

Inventory comes in many forms and flavors; it is the critical element of supply chains that enable a firm to respond quickly and take advantage of scale. However, managing inventory is one of the most.

article thumbnail

Just In: Inventory Optimization Research

How are organizations performing on inventory optimization? How can new technologies help your team improve? Find out in this new research report.

article thumbnail

Inventory and Inflation

Enterra Insights

The irony of excess inventory. Reporters from Bloomberg explain, “A nationwide inventory glut has led to unexpected bargains for U.S. Excess inventory was also caused by the Bullwhip Effect. ” Optimizing inventory. trillion because of mismanaged inventory.”[7]

Inventory 130
article thumbnail

Inventory Management: We Can Do Better

Supply Chain Shaman

Downsizing inventories over the past decade crippled the response.” In Table 1, I share research collected for the Supply Chains to Admire analysis on the average days of inventory by industry across the period of 2004 to 2019 by increments to match economic shifts.

article thumbnail

On the Path of Inventory Improvement: Assessing Your Situation

CHAINalytics

This blog post is the first in Chainalytics’ Integrated Demand and Supply Planning competency’s three-part series on inventory improvement. Here, we’ll cover how to assess inventory before you optimise it and isolate what your opportunity areas actually are.

Inventory 106
article thumbnail

Inventory Planning vs. Inventory Optimization: What’s the Difference?

ToolsGroup

What’s the difference between traditional inventory planning and inventory optimization? Optimizing your inventory is a different beast than simply planning your inventory. They face a complex distribution network and optimizing inventory for each location is challenging.

article thumbnail

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. In business there are many drivers of inventory, and the management of inventory levels requires discipline and a cross-functional focus. What Drives Inventory Effectiveness?

Inventory 291
article thumbnail

How Does Your Inventory Optimization Process Compare to Peers?

The 15-question assessment takes only 5 minutes to complete. Take it now to see how your inventory optimization process scores and benchmark it against peers. Responses are aggregated and kept anonymous. We hope it serves as a thought-provoking exercise to improve your approach!

article thumbnail

Gain a Leading Edge in Inventory Management through Digital Transformation

DELMIA Quintiq

An increasing lineup of advanced digital solutions have given manufacturers the edge to transform and achieve better inventory control. The manufacturing industry is constantly searching for new and inventive ways to improve inventory management.

article thumbnail

Seasonal Inventory and 7 Ways to Manage It Effectively

ToolsGroup

More than ever, seasonal inventory needs to be carefully accounted for during the demand forecasting and inventory planning process , ensuring right-sized inventory that can meet customer expectations while limiting the spend and use of working capital. Optimize Your Inventory.

article thumbnail

Planning to Win: Optimizing Inventory to Meet Business Objectives

ToolsGroup

Optimization is peak efficiency, using the perfect balance of inventory and resources to service customer demand without incurring any unnecessary costs or waste. Optimizing is meaningless without an inventory optimization objective. What’s Wrong with ABC Inventory Classification ’ .

Meeting 229
article thumbnail

The role of inventory management and inventory optimization in ERP

SYSPRO Smarter ERP

Inventory management is important because it provides a buffer to balance out the uncertainties between demand and supply. However, while it can be viewed positively, holding inventory also creates problems. The role of inventory management. Inventory optimization.

article thumbnail

5 Powerful Prescriptive Analytics Examples in Supply Chain

Prescriptive analytics is a type of advanced analytics that optimizes decision-making by providing a recommended action. Supply chain, with its complex planning questions, is typically an area where optimization technology is required. Read about 5 use cases.

article thumbnail

Nespresso Optimizes Orders and Inventory with End-to-End Digital Supply Chain Planning

ToolsGroup

It’s no simple task providing customers access to the full range of capsules and coffee machines on all sales channels, across more than 70 boutiques in Italy, while optimizing inventory levels. Fewer stock shortages and reduced obsolete inventory.

article thumbnail

Inventory Management in a High Inflation Environment

Logistics Viewpoints

Inflation’s effects on inventory management policies are likely far from top of the mind of Logistics Viewpoints readers in today’s challenging times. However, today’s elevated rate of inflation warrants a closer look at optimal inventory policies. Inventory Costs and Risks.

article thumbnail

In-transit Inventory: A Complete Guide for Merchants

Unleashed

In-transit inventory is a frequently overlooked aspect of inventory management and accounting for product businesses. What is in-transit inventory? In-transit inventory is products that have been shipped by the seller but have yet to reach the customer.

article thumbnail

Options for inventory planning and forecasting

SYSPRO Smarter ERP

In an increasingly unpredictable world environment, practices for planning and forecasting inventory levels that worked in the past need to be reviewed. In the 1990s, APS (Advanced Planning and Scheduling) arose as a solution for making better decisions about inventory.

article thumbnail

Complimentary Gartner Report: Improve S&OP Decision Making with Scenario Planning

Traditionally, planning teams have aimed for one number, one plan. But with uncertainty on the rise, they need to build more flexibility into their process to account for changing business conditions. It’s time to shift gears and embrace variability with different scenarios.

article thumbnail

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. We feel so strongly about this that we do not have an inventory planning role.” His feeling was that inventory is an asset to manage. Inventory is both. Inventory management is a complex subject.

Inventory 303
article thumbnail

Regaining control: Inventory management best practices (Part four)

Kinaxis

by Richard Cushing In part one of my inventory management best practices series I argue that inventory cannot be managed until it is controlled, and present the notion our general willingness to apportion blame upon unreliable data from enterprise resource planning (ERP) systems is misplaced. In the final part of my inventory management best practices series, I take a look at some additional practices that are important, or even crucial , to successful supply chain efforts.

article thumbnail

Beware the Swinging Pendulum on Supply Chain Inventory Practices

Logistics Viewpoints

Supply shortages resulting in empty shelves or parking lots of WIP inventory represent a spectre causing supply chain leaders to reconsider supply chain inventory practices. Opinion of just-in-time (JIT) as a practice has taken a battering and inventory is rising.

article thumbnail

Multi-echelon inventory optimization vs inventory optimization

ToolsGroup

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. Now consider that by not optimizing your inventory from a global vantage point you may be creating, if not outright chaos, a much less efficient network than you could have. The basic approach to inventory optimization.

article thumbnail

TMS+: Go Beyond Transport to Optimize Cost, Service, & Resiliency

In the aftermath of the pandemic, supply chain inadequacies have been revealed in a new light. In order to thrive, companies need to take a more synchronized approach. Learn why a holistic “TMS+” approach is integral to success in the new normal and beyond.

article thumbnail

Building the ROI Case for Inventory Planning

Arkieva

Companies often focus on inventory to free up working capital. An inventory planning solution often requires presenting management with ROI. Building the ROI Case for Inventory Planning was first posted on January 17, 2023 at 8:33 am. ©2017

article thumbnail

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.” ” I have been studying the evolution of inventory technologies as an industry analyst since 2002. Inventory is the culmination of many business decisions. The Inventory Management Journey.

Inventory 325
article thumbnail

AI Creates an Efficient Inventory Management System

All Things Supply Chain

Effective inventory management can be an invaluable asset for any organization. With the right management system, a business can improve inventory visibility, optimize its supply chain and navigate shortages.

article thumbnail

Medical Inventory Management & Consumable Inventory

My Office Apps

Consumable Inventory & the Medical Field. Unorganized medical inventory management can cause delays in providing patient care, and in the healthcare industry, each second matters. Medical providers often overlook inventory management, especially consumable inventory.

article thumbnail

Digital Transformation: Why You Can’t Afford to Wait

This playbook offers manufacturers a realistic and viable guide to balancing immediate needs with future-focused strategy.

article thumbnail

Managing Inventory amid Regime Change - Smart Software

Thomas Willemain, Ph.D.

Statisticians use the “regime change” phrase in a way that has high relevance for demand planning and inventory optimization

Software 100
article thumbnail

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. Jill , Nike and H&M who missed sales projections, upset customers with out-of-stocks, and had to clear excess inventory through deep discounting. Inventory distortion” (the combined cost of out-of -stocks and overstocks) accounts for $1.1 For example, say you have $5,000,000 of inventory at cost on hand.

Inventory 170
article thumbnail

Essential Inventory Replenishment strategies

Prophetic Technology

Inventory Replenishment has to do with buying and moving inventory, whether raw materials or finished goods, from stockpile storage to primary storage and finally to the selling point. supply chain inventory Replenishment

article thumbnail

9 Barriers to Optimal Inventory and How to Break them Down

Logistics Bureau

Too much inventory in your distribution network? Inventory costs too high? These are all pervasive issues for supply chain operators worldwide—and are classic symptoms of suboptimal inventory performance. Inventory Optimisation: A Clarification.

article thumbnail

How to Tackle Today's Most Complex Inventory Challenges

Speaker: Andrew Kurpiel - AmerCareRoyal | Bill Benton - GAINS | Paul Benhamou - Benco Dental

Join three supply chain experts as they share their best practices and effective strategies for facing today’s most complex inventory challenges.

article thumbnail

ToolsGroup Announces Inventory Hub®, the Single Source of Truth for Real-Time Data Across the Enterprise

ToolsGroup

In a world of too little, too late, real-time data provides the actionable insights companies need to maximize inventory performance and business profitability. The highly scalable platform processes and analyzes data quickly and applies configuration to provide actionable views of inventory.