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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. Nobody else but Supply Chain actually sees the full unedited and excuse-free realism on inventory and what this stock is doing (always a negative effect) to overall company costs and service. FMCG Forecasting & Demand Planning Inventory Management & Stock Control Supply Chain Analytics MORE
Listen to “Inventory Forecasting Lessons for Improved Supply Chain Network Optimization” on Spreaker. The post [PODCAST] Inventory Forecasting Lessons for Improved Supply Chain Network Optimization appeared first on Transportation Management Company | Cerasis. Inventory Management Podcast Supply Chain Inventory Forecasting 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. 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. 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. The equivalent of 7% of America’s GDP is tied up in inventory, and accounts receivable and payable. Implementing inventory optimization. The challenges of inventory optimization can be immense. MORE
How Do You Turn a Good Demand Forecast into the Optimum Inventory Plan? They care if you have the inventory they want when they want it. But carrying too much inventory can reduce profits and might not be practical for some items such as fresh goods. MORE
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. Days of Inventory Peer Group Across Time Periods. So when we start with the facts, it is clear that every industry peer group increased the days of inventory. So, why have we not reduced inventory? 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. 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? MORE
The post The Potential and the Pitfalls of Vendor Managed Inventory (VMI) appeared first on The Network Effect. Inventory Management Supply Chain Management VMI MORE
Featuring Our 10 Best Inventory Management Articles! Inventory management is a critical area for most companies. Too much inventory, especially the wrong inventory, can negatively impact cash flow, return on investment, customer satisfaction, and profitability. MORE
Inventory management mistakes constitute a significant cost contributor in today’s supply chains. According to Rod Daugherty of Manufacturing.net, the costliest problem is due in large part to poor inventory visibility and planning. More than 60 percent of wholesalers routinely keep more than one month of inventory on-hand, and since 77 percent of businesses lose sales.read More. Inventory Management Supply Chain Inventory Management Mistakes MORE
Inventory management, network infrastructure, and labor deployment are all critical components necessary to meet this intense customer demand. Inventory Management Strategy. If we’re going to get inventory into consumer hands the same day they place the order, the inventory has to be 1) available and 2) less than 8 hours away. This requires us to push the boundaries of current inventory management practices, or hold lots of inventory network-wide. 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
Census Bureau inventory data, for June, indicates the need for inventory replenishment as the seasonal-adjusted sales to inventory ratio declined to 1.37 Total business inventories declined 2.3% for June/May while inventories declined 5.8% Inventory Replenishment. 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. 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. MORE
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. 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.” ” 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. MORE
Timeliness, speed, and order accuracy are some of the most in-demand aspects of today’s omnichannel world, but significant challenges still exist with inventory visibility. The post Leading Challenges in Inventory Visibility and How to Solve Them appeared first on Transportation Management Company | Cerasis. Inventory Management Supply Chain inventory visibilitySupply chain leaders and managers have a mountain of responsibilities and oversee vast enterprises. MORE
by Richard Cushing In part one and part two of “Regaining control: Inventory management best practices”, we talked about controlling inventory, before being able to competently manage inventory. Here in part three, we’ll explore what other important supply chain inventory management best practices. Make sure you get the UOM conversions right , or your on-hand inventories will never be correct. MORE
It’s notoriously difficult to optimize inventory for aftermarket parts. Read on for our five inventory optimization secrets for aftermarket parts. Five Inventory Optimization Secrets for Aftermarket Parts. ABC inventory analysis and spreadsheets aren’t cutting it. . MORE
Using technology in the warehouse is one of the most effective ways to improve inventory management and reduce returns. Since returns represent a significant cost to companies, it is imperative for retailers to take steps to improve inventory management and manage returns. The post Using Technology to Improve Inventory Management appeared first on Transportation Management Company | Cerasis. Inventory Management Supply Chain Technology Improve Inventory Management 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. 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. MORE
Featuring Our 10 Best Inventory Management Articles! Inventory Shrinkage article and permission to publish here provided by Jake Rheude at redstagfulfillment.com. There are many terms for inventory shrinkage: warehouse shrinkage, product shrinkage, loss of product. MORE
by Andrew Dunbar The modern day inventory manager described in this series is the backbone of your company’s inventory planning process. She has a strong understanding of supply chain fundamentals and is an expert at controlling the key levers impacting the inventory company’s investment in inventory. It should be up-to-date (daily at a minimum), and include all the input data required to make your inventory planning decisions. MORE
by Richard Cushing It happens to be axiomatic that you cannot manage your inventory if you do not control your inventory. Managing versus controlling inventory. The numbers (read: quantities) in the ERP system aren’t reliable because, while the company is busy “managing” its inventory, it has pretty much neglected the matter of “controlling” their inventory. Inventory management best practices. 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. 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. MORE
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. 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. Lean supply chain and inventory management enable Small Medium Businesses (SMB) to improve efficiency and increase profits. What is Lean Inventory Management? Flow: Understand how inventory flows in your warehouse and apply Lean principle: 5S to clear any obstacles that do not add up. MORE
The post Inventory System Concern: Should Companies Always Maintain Peak Season Stock? Inventory Management Peak Season Inventory SystemPeak season gets more extensive and more demanding every year. And the upcoming peak season is expected to shatter records. MORE
However, inventory optimization can solve these challenges. What’s Wrong With Current Inventory Optimization Processes? The post Why Omnichannel Supply Chain Success Depends on Inventory Optimization appeared first on Transportation Management Company | Cerasis. Inventory Management Omnichannel Omnichannel Supply Chain Success MORE
In part one of “Regaining control: Inventory management best practices” , we talked about controlling inventory, before being able to competently manage inventory. With that in mind, let’s dive in to a few more inventory management best practices that will help you get the control you need to better manage your assets. Inventory management best practices all about getting organized. by Richard Cushing. MORE
Equally mystifying to people is the concept of inventory optimization. I explain to people that if they’re getting this process right, overall service levels should go up by 3-5% as overall inventory levels decrease by 15-30%. ABC was okay for managing inventory, but not optimizing it. MORE
Today’s warehouse managers need better inventory management strategies. This is nothing new, but as the world has evolved, the ability to improve inventory management has evolved in stride. The post The Go-To List of Ways to Improve Inventory Management appeared first on Transportation Management Company | Cerasis. Inventory Management Supply Chain Technology Warehouse ways to Improve Inventory Management MORE
The real problem, however, was inventory. The client had a warehouse full of old stock that had been sitting unwanted for years , and there wasn’t enough room to accommodate the inventory that they were selling. . Just get rid of the old s tock and create plenty of room for the inventory that sells , thereby eliminating the need to move to a larger, more expensive facility. What is the right inventory level for your business? . 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. But from an operational supply chain planning perspective, turns is a crude metric because it doesn’t recognize the difference between “good” and “bad” inventory. Gartner delved into this issue in a recent report, Build the Capability for Inventory Health Assessment. MORE
Inventory Related Topics Arkieva
JULY 22, 2020
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.
Cerasis
SEPTEMBER 28, 2020
The post Inventory System Concern: Should Companies Always Maintain Peak Season Stock? Inventory Management Peak Season Inventory SystemPeak season gets more extensive and more demanding every year. And the upcoming peak season is expected to shatter records.
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ToolsGroup
OCTOBER 20, 2020
Equally mystifying to people is the concept of inventory optimization. I explain to people that if they’re getting this process right, overall service levels should go up by 3-5% as overall inventory levels decrease by 15-30%. ABC was okay for managing inventory, but not optimizing it.
Cerasis
JULY 19, 2019
Using technology in the warehouse is one of the most effective ways to improve inventory management and reduce returns. Since returns represent a significant cost to companies, it is imperative for retailers to take steps to improve inventory management and manage returns. The post Using Technology to Improve Inventory Management appeared first on Transportation Management Company | Cerasis. Inventory Management Supply Chain Technology Improve Inventory Management
Advertiser: ZoomInfo
While B2B research suggests organizations are thriving through successful ABM programs, getting just one campaign off the ground is more difficult than it seems. From building an account universe to understanding to orchestrating sales and marketing alignment around touchpoint and messaging, there are a number of variables to consider before launching a program.
Supply Chain Shaman
JUNE 12, 2020
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. Days of Inventory Peer Group Across Time Periods. So when we start with the facts, it is clear that every industry peer group increased the days of inventory. So, why have we not reduced inventory?
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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.
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. 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?
Logistics Trends and Insights
AUGUST 16, 2020
Census Bureau inventory data, for June, indicates the need for inventory replenishment as the seasonal-adjusted sales to inventory ratio declined to 1.37 Total business inventories declined 2.3% for June/May while inventories declined 5.8% Inventory Replenishment.
Kinaxis
MARCH 19, 2019
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.
Speaker: Irina Rosca, Director of Supply Chain Operations, Helix
Organizations need to focus on demand driven supply planning, utilizing real time information on customer orders from all marketplaces (e-commence, Amazon - or other online retailers, and point of sale data from brick and mortar). Focusing on this information once per month during the S&OP meeting is too late for all business units to align. Companies should have seamless integration between order entry, inventory management, forecasting and supply planning models and purchase order status to sense risk, pull levers to mitigate potential risk, and communicate within and outside the organization. This is especially important for new product releases, in store programs or promotions (sales, end caps, PDQ. etc) or online promotions (company run or 3rd party). Depending on total supply chain lead time, not having real time visibility and analysis of this information can significantly affect sales and the bottom line.
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ToolsGroup
SEPTEMBER 9, 2020
How Do You Turn a Good Demand Forecast into the Optimum Inventory Plan? They care if you have the inventory they want when they want it. But carrying too much inventory can reduce profits and might not be practical for some items such as fresh goods.
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. 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.
Cerasis
FEBRUARY 11, 2020
Listen to “Inventory Forecasting Lessons for Improved Supply Chain Network Optimization” on Spreaker. The post [PODCAST] Inventory Forecasting Lessons for Improved Supply Chain Network Optimization appeared first on Transportation Management Company | Cerasis. Inventory Management Podcast Supply Chain Inventory Forecasting
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. 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.
Speaker: Irina Rosca, Director of Supply Chain Operations, Helix
If we're going to offer the speed of shipping and variety of inventory that today's customers have come to expect, there are a lot of different questions that need to be asked. This webinar will cover: Strategies for making high-level decisions about your network design and inventory distribution. As we plan for the world of eCommerce and the customer expectation of quick, free shipping, our ability to forecast is turned on its head.
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. 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.
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.” ” 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.
Kinaxis
FEBRUARY 28, 2019
In part one of “Regaining control: Inventory management best practices” , we talked about controlling inventory, before being able to competently manage inventory. With that in mind, let’s dive in to a few more inventory management best practices that will help you get the control you need to better manage your assets. Inventory management best practices all about getting organized. by Richard Cushing.
ToolsGroup
AUGUST 3, 2020
It’s notoriously difficult to optimize inventory for aftermarket parts. Read on for our five inventory optimization secrets for aftermarket parts. Five Inventory Optimization Secrets for Aftermarket Parts. ABC inventory analysis and spreadsheets aren’t cutting it. .
Logility
APRIL 28, 2020
The real problem, however, was inventory. The client had a warehouse full of old stock that had been sitting unwanted for years , and there wasn’t enough room to accommodate the inventory that they were selling. . Just get rid of the old s tock and create plenty of room for the inventory that sells , thereby eliminating the need to move to a larger, more expensive facility. What is the right inventory level for your business? .
The Network Effect
NOVEMBER 7, 2019
The post The Potential and the Pitfalls of Vendor Managed Inventory (VMI) appeared first on The Network Effect. Inventory Management Supply Chain Management VMI
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. 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.
Cerasis
SEPTEMBER 13, 2019
However, inventory optimization can solve these challenges. What’s Wrong With Current Inventory Optimization Processes? The post Why Omnichannel Supply Chain Success Depends on Inventory Optimization appeared first on Transportation Management Company | Cerasis. Inventory Management Omnichannel Omnichannel Supply Chain Success
Cerasis
JULY 26, 2019
Inventory management mistakes constitute a significant cost contributor in today’s supply chains. According to Rod Daugherty of Manufacturing.net, the costliest problem is due in large part to poor inventory visibility and planning. More than 60 percent of wholesalers routinely keep more than one month of inventory on-hand, and since 77 percent of businesses lose sales.read More. Inventory Management Supply Chain Inventory Management Mistakes
Cerasis
SEPTEMBER 6, 2019
Timeliness, speed, and order accuracy are some of the most in-demand aspects of today’s omnichannel world, but significant challenges still exist with inventory visibility. The post Leading Challenges in Inventory Visibility and How to Solve Them appeared first on Transportation Management Company | Cerasis. Inventory Management Supply Chain inventory visibilitySupply chain leaders and managers have a mountain of responsibilities and oversee vast enterprises.
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. Lean supply chain and inventory management enable Small Medium Businesses (SMB) to improve efficiency and increase profits. What is Lean Inventory Management? Flow: Understand how inventory flows in your warehouse and apply Lean principle: 5S to clear any obstacles that do not add up.
Supply Chain Game Changer
JULY 30, 2020
Featuring Our 10 Best Inventory Management Articles! Inventory Shrinkage article and permission to publish here provided by Jake Rheude at redstagfulfillment.com. There are many terms for inventory shrinkage: warehouse shrinkage, product shrinkage, loss of product.
Kinaxis
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. She has a strong understanding of supply chain fundamentals and is an expert at controlling the key levers impacting the inventory company’s investment in inventory. It should be up-to-date (daily at a minimum), and include all the input data required to make your inventory planning decisions.
Enchange Supply Chain Consultancy
FEBRUARY 10, 2016
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. Nobody else but Supply Chain actually sees the full unedited and excuse-free realism on inventory and what this stock is doing (always a negative effect) to overall company costs and service. FMCG Forecasting & Demand Planning Inventory Management & Stock Control Supply Chain Analytics
Kinaxis
FEBRUARY 21, 2019
by Richard Cushing It happens to be axiomatic that you cannot manage your inventory if you do not control your inventory. Managing versus controlling inventory. The numbers (read: quantities) in the ERP system aren’t reliable because, while the company is busy “managing” its inventory, it has pretty much neglected the matter of “controlling” their inventory. Inventory management best practices.
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. If we’re going to get inventory into consumer hands the same day they place the order, the inventory has to be 1) available and 2) less than 8 hours away. This requires us to push the boundaries of current inventory management practices, or hold lots of inventory network-wide.
Kinaxis
MARCH 7, 2019
by Richard Cushing In part one and part two of “Regaining control: Inventory management best practices”, we talked about controlling inventory, before being able to competently manage inventory. Here in part three, we’ll explore what other important supply chain inventory management best practices. Make sure you get the UOM conversions right , or your on-hand inventories will never be correct.
Supply Chain Game Changer
SEPTEMBER 29, 2020
Featuring Our 10 Best Inventory Management Articles! Inventory management is a critical area for most companies. Too much inventory, especially the wrong inventory, can negatively impact cash flow, return on investment, customer satisfaction, and profitability.
Kinaxis
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. The equivalent of 7% of America’s GDP is tied up in inventory, and accounts receivable and payable. Implementing inventory optimization. The challenges of inventory optimization can be immense.
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. But from an operational supply chain planning perspective, turns is a crude metric because it doesn’t recognize the difference between “good” and “bad” inventory. Gartner delved into this issue in a recent report, Build the Capability for Inventory Health Assessment.
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