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.

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.

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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 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.

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.

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.

Beverage Brands Unlock Recovery and Growth with Inventory Optimization

Logility

However, inventory optimization for beverage brands can help these organizations overcome such challenges with greater ease and speed. They know how well they are positioned with available capacity, which products are obsolete, and when inventory should be replenished in the warehouse.

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

Supply Chain Optimization for Consumer Packaged Goods Inventory

Logility

Managing consumer packaged goods inventory is challenging at the best of times, and it can be debilitating during times of local or international disruption. Consumer packaged goods inventory always has complex demand patterns and seasonal trends. Robust Inventory Management.

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.

3 Mistakes Organizations Make While Developing ABM Programs

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.

Using Technology to Improve Inventory Management

GlobalTranz

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

Inventory Planning Becomes More Interesting

The Smart Software

Just-In-Time (JIT) ensures that a manufacturer produces only the necessary amount, and many companies ignore the risks inherent in reducing inventories. So how can you execute a real-world plan for JIT inventory amidst all this risk and uncertainty?

Inventory Forecasting Explained: The 2022 Guide

Unleashed

A crystal ball sometimes wouldn’t go amiss in inventory forecasting. Here we explain the methods and formulas you can use to improve your inventory forecasting, and best practices for your business when designing and carrying out this process. Read more: What is Inventory Management?

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.

Automated Order Processing and Proactive Inventory Management

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.

Five Suggestions for Practical Inventory Management

Logility

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. . What is the right inventory level for your business? .

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.

10 Commandments of Inventory Management

All Things Supply Chain

Amongst the primary operations of running a supply chain department is inventory management. Any issues pertaining to inventory… General Inventory management inventory management supply chain supply chain inventory

[PODCAST] Inventory Forecasting Lessons for Improved Supply Chain Network Optimization

GlobalTranz

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.

Just in Time vs. Just in Case: What’s the Way Forward for Supply Chains?

Just-in-time supply chains worked just fine — until they didn’t. Is more inventory the answer? It’s not a binary solution. Read this latest GEP paper to learn how enterprises can ensure adequate supplies without running excess inventory.

Inventory System Concern: Should Companies Always Maintain Peak Season Stock?

GlobalTranz

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.

System 156

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.

5 E-Commerce Inventory Management Strategies to Know | VIDEO

GlobalTranz

Inventory has been subject to changing customers’ buying patterns. The post 5 E-Commerce Inventory Management Strategies to Know | VIDEO appeared first on Transportation Management Company | Cerasis. Uncategorized E-Commerce Inventory Management

Supply Chain Inventory Optimization – Beyond the Analytics

GlobalTranz

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.

Key Questions for a Successful Distribution Network

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.

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?

The Go-To List of Ways to Improve Inventory Management

GlobalTranz

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

Inventory Control and Inventory Management

My Office Apps

Inventory Control and Inventory Management. Regardless of the industry that your business is in, one of the universal truths of operating a successful business is optimized inventory management and control of inventory. Inventory Control In Different Industries.

Regaining control: Inventory management best practices (Part two)

Kinaxis

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.

The Keys to Business Continuity Planning

Speaker: Ron Spiteri, Director of TXM Lean Solutions

The pandemic has been the most significant disruption to global supply chains since the dawn of the industrial world. A key learning of this disruption has been the need for business continuity planning to mitigate future disruptions, which we know will come. Join Ron Spiteri of TXM Lean Solutions, and learn the key steps to take control of your supply chain risks.

5 Inventory Management Tips for Manufacturing SMBs!

Supply Chain Game Changer

Featuring Our 10 Best Inventory Management Articles! Inventory management is a holistic and logical methodology for handling both raw materials and finished products. Why is Inventory Management Important for Manufacturing SMBs? Our Top 5 Inventory Management Tips.

Inventory Replenishment Underway

Logistics Trends and Insights

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.

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.

Assess your Inventory Optimization Process with This Quiz

AIMMS

Inventory management has always been challenging. Too often, inventory is viewed from an aggregate position, likely driven by finance, who are concerned about working capital implications. It also provides an assessment of your current approach to inventory optimization. .

Retailers’ inventories suggest restocking long way from finished

The Supply Chain Journal

Inventory levels increased for the nation’s largest retailers during the fiscal second quarter that ended July 31. Often a tell of future container traffic, inventories were severely depleted within months of the pandemic’s onset. Inventories way behind sales on 2-year comp.