Inventory Management Remains Challenging

Enterra Insights

Every business person who deals with inventory management is involved in a balancing act. Keep too little inventory on hand and you risk losing sales and, on occasion, customers. Keep too much inventory on hand and the costs add up resulting in lower profits. It’s little wonder inventory management systems have gained popularity. Omnichannel operations exacerbate inventory management complexity. Inventory and forecasting.

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. Inventory management best practices all about getting organized.

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.

Five Reasons Why Are We Not Making Progress on Inventory Management

Supply Chain Shaman

At the session, we discussed why companies have not made more progress on inventory management. In the case of Apparel and Automotive industries there are slight improvements, but they have shifted inventories to suppliers. Days of Inventory Pre and Post-Recession.

Automated Order Processing and Proactive Inventory Management

Speaker: Irina Rosca, Director of Supply Chain Operations, Helix

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.

Regaining control: Inventory management best practices (Part one)

Kinaxis

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. Inventory management best practices.

Inventory Management in Service Logistics Industry

Talking Logistics

What is Inventory Management? For Manufacturing it’s about carrying zero or minimum inventory. For Logistics the focus is on high inventory turns. For Management: a balancing strategy, etc…. Inventory Management: There’s No One-Size-Fits-All Approach.

Inventory Management: Technology Enablers

Kinaxis

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.

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.

The Future of Inventory Management

Kinaxis

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?

Digital Inventory Management Key Battleground in Transformation of Brick-and-Mortar Retail

Cerasis

As e-commerce growth accelerates, shippers are working overtime to manage available inventory. It catalyzed brick-and-mortar retailers to offer online shopping opportunities, which require much more than manual inventory management practices.

5 Traits of a Great Inventory Manager

Unleashed

Inventory management is key to the success of any business, big or small. As your business grows, good inventory management will become even more crucial, and you may need to hire an inventory manager who can dedicate their time to ensuring it all runs smoothly. Being a successful inventory manager requires a broad range of skills and know-how. In this article, we explore the key attributes and tasks required of a good inventory manager.

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.

Inventory Management Levers – Success Through Collaboration

Kinaxis

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.

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. Automated Inventory Management Technology.

Don’t Take a Holiday from Inventory Management

Talking Logistics

The Importance of Inventory Management. When it comes to inventory management, new trends are demonstrating that less is more. Having less inventory on-hand increases liquidation, allowing for a more agile response to shifting consumer trends. Companies that have too much inventory on-hand right now are struggling to clear out space ahead of the season, slashing prices and concerning stakeholders as profit margins creep downward.

6 Signs Your Business is Achieving Efficient Inventory Management

Unleashed

Did you know that better inventory management and control is one of the biggest parts of running a successful business and yet it is one that is often put on the back burner for misconceptions of that it is not a major profitable pursuit? Business owners know that holding inventory stock ties up a lot of cash, that’s why good inventory management is crucial for all businesses. No excess inventory. High rate of inventory turnover.

3 Common Problems with eCommerce Inventory Management

Unleashed

In today’s marketplace, business owners aren’t operating with one channel to sell their inventory. This means they need an inventory management system to keep up with them. However, there are a few common mistakes that happen when you’re trying to manage eCommerce inventory. If your inventory management tools and stocktaking processes can’t keep up with the pace of purchases, then overselling can easily happen. Poor inventory forecasting.

[PODCAST] Why Digital Tools to Optimize Inventory Management Allows Supply Chain Execs to Stay More Strategic at Every Link in the Supply Chain

Cerasis

On today’s episode, we welcome Margaret Bendis, US Marketing Specialist for a company called EazyStock a cloud-based software-as-a-solution (SaaS) that optimizes inventory management. What is the future of digitization as it relates to inventory management.

Why inventory management should be a company-wide conversation

Kinaxis

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.

How to Tackle the On-demand World of Inventory Management

Unleashed

Inventory management is an around the clock operation and the pace isn’t slowing down. This means the way we manage inventory has rapidly adapted as well. We’ll take a closer look at how inventory management can keep up with changes in consumer patterns and technology in this on-demand world. Optimise with inventory on demand. Now, inventory on demand or IOD is sweeping supply chains by storm.

The Growth of Inventory Management

Unleashed

Inventory management originated even before the Industrial Revolution and has certainly evolved with time and expertise to become what it is today. The need for inventory management has always existed where trading was a livelihood and the stock management was imperative to protect one’s resources. A brief history of inventory technology. In particular, the advancement of inventory management requires the development of the inventory manager’s role.

Inventory Management in Manufacturing Environment

LeanCor

Firms today are beginning to understand more and more that high levels of inventory aren’t just detrimental to costs but also for hiding other potential issues. The beginning stage of inventory management doesn’t begin at the dock door rather it begins with the supplier.

Centralised Inventory Management: Is it right for you?

Unleashed

Inventory management is a game changer when it comes to retail profitability. When your inventory is managed well, other parts of your business reap the benefits. However, the importance of inventory management isn’t always appreciated and can be overlooked by business owners. This is interesting because, from a financial point of view, inventory is one of your greatest assets. If you overstock your inventory, this becomes a liability.

How To Improve Your Financial Health With Better Inventory Management

Unleashed

Small business owners may underestimate the importance of good inventory management. However, inventory management can be make-or-break when it comes to financial growth and long-term financial health. In this article, we explain how business owners can manage inventory to improve financial health. What does inventory management have to do with financial health? What does good inventory management look like?

IoT Inspired Smart Warehouses Are Reinventing Inventory Management

Cerasis

The internet allows for unlimited scalability and boosted efficiency in warehouse inventory management. The so-called “smart warehouse” takes advantage of these defining factors by connecting systems to streamline inventory management and overall productivity. Warehouse managers must understand why changes of standards and use of the Internet of Things (IoT) are needed and how smart warehouses can meet the demands of today and tomorrow.

ABC Segmentation for Inventory Management

Arkieva

A look at how you can use product and customer ABC segmentation for Inventory management. ABC Segmentation for Inventory Management was first posted on June 19, 2018 at 2:25 pm. ©2017 Inventory Management abc analysis example abc analysis excel abc analysis graph abc analysis ppt abc analysis slideshare abc analysis steps how to calculate abc analysis importance of abc analysis

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.

Optimising Inventory Management for Multichannel Businesses

Unleashed

Managing multichannel inventory requires clear and concise inventory strategies to combat the challenges associated with multi-platform sales. By increasing visibility, working with supply chains, reconciling inventory, connecting systems, and managing safety stock levels, you can improve multichannel inventory management. Reconciling inventory. Regular inventory management can also be problematic when numbers don’t line up.

How To Prevent and Mitigate 3 Common Inventory Management Problems

Unleashed

When managing inventory, there are a wide array of challenges and problems that face business owners. Inventory is one of your most important assets. It’s imperative to prevent and mitigate inventory management problems in order to protect the lifeblood of your business. We’ll highlight a few of the common inventory management problems facing business owners and discuss how they can be mitigated with practical solutions. Inventory going off.

What’s Causing Your Inventory Management Problems and How to Avoid Them

Unleashed

Businesses are quickly realising that inventory control is absolutely necessary to run an efficient business and make money in the process. We take a look at common inventory management problems, causes and how best to avoid this. Identifying symptoms of inventory management problems. High amount of obsolete inventory High amount of working capital High cost of storage Spreadsheet data-entry errors Lost customers. Large inventory volumes.

Thrifty Inventory Management to Save Money and Increase Profits

Unleashed

This is all very well, however to achieve this goal, inventory management needs to be a focus. If inventory management is not considered carefully as a business improvement metric, then it can insidiously become a money trap which of course will simply erode any profits to be made. This is where efficient, lean and thrifty inventory management comes in. This is similar to looking for the root cause and is often underappreciated in inventory management.

The Right Technology for Inventory Management

PINC YMS

inventory robotics digital inventory inventory accuracy inventory management

Make Online Inventory Management a New Year’s Priority

Unleashed

A new year hints at a fresh start and it is the perfect time for businesses to improve their inventory control in preparation for the business year ahead. Effective inventory control can mean the difference between a profit or a loss. Mishandled inventory leads to unnecessary wastes of time, money and ultimately, the profitability and success of your enterprise. Online inventory management.

Real-Time Inventory Management: 5 Ways Advanced Computer Analytics Will Transform Traditional Inventory Management

Cerasis

Manufacturers have always struggled to obtain the most accurate inventory levels possible. A need for real-time inventory management has arisen, but until now, we didn't have a way to make it a reality. In our predictions’ blog post from earlier this year, we noted how customization will begin to replace traditional inventory management, and essentially, customization goes back to using computer analytics to generate a more accurate, successful view of inventory management.