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Are you making the fatal mistake of underestimating the importance of inventory rebalancing? Many retailers treat inventory management as a mundane task rather than a strategic lever for success. It’s about strategically adjusting your inventory levels across locations and products in response to real-time customer demand.
Financial crises, global tensions, supply shortages, technological innovations, and regulatory changes are inevitable we just cant predict when theyll strike. This uncertainty makes dynamic inventory replenishment optimization essential for business success. Disruptions in the supply chain happen with surprising regularity.
In the competitive industrial landscape, efficient spare parts inventory management is crucial to maintaining seamless operations and driving profitability. In this sector, the ability to provide timely and reliable spare parts can make or break a company’s reputation.
For example, with a data gateway, a supply planner gains accelerated access to customer orders, inventory levels, and transportation schedules, all in one place, to increase the user experience of making the right choice to identify inefficiencies and make better, more informed decisions.
Just-in-time supply chains worked just fine — until they didn’t. Is more inventory the answer? Read this latest GEP paper to learn how enterprises can ensure adequate supplies without running excess inventory. It’s not a binary solution.
Now, ML forecasting is not just monthly or quarterly; weekly and even daily forecasting is now possible. In terms of supply planning, if key parameters (like supplier lead times) are no longer correct, then the planning becomes suboptimal. AI is not a new technology in the supply chain realm; it has been used in some cases for decades.
But change management is significantly more difficult when the technology deployed is used not just internally, but also by key trading partners. They gain visibility into whether a supplier can fulfill the complete order in the requested time frame or not. People issues are always challenging. But getting there was not easy.
Today the question is not just When is the next disruption coming? Artificial intelligence (AI) is not just a buzzword; it has become a critical competency for supply chain and logistics teams today. Five years ago, we all thought the COVID-19 pandemic resulted in the most disrupted supply chain landscape we would ever see.
They follow “if-this-then-that” (IFTTT) logic, meaning that when certain conditions are met, the contract automatically executes an agreed-upon action, such as releasing a payment, updating an inventory record, or verifying a shipment. Inventory counts often require manual audits, which are time-consuming and prone to mistakes.
It’s a supply chain execution technology that recognizes companies today operate as multi-party ecosystems, and that transport management activities are just one component of high-functioning supply chains. In the aftermath of the pandemic, supply chain inadequacies have been revealed in a new and stark light.
For example, with a data gateway, a supply planner gains accelerated access to customer orders, inventory levels, and transportation schedules, all in one place, to increase the user experience of making the right choice to identify inefficiencies and make better, more informed decisions.
Smart energy management systems further enhance efficiency by tracking and optimizing energy use in real-time. In today’s interconnected global economy, sustainability within supply chains and logistics has become a necessity rather than an option. Warehousing operations also offer opportunities for sustainable transformation.
Theres no shortage of commentary on how companies should respond move production, shift suppliers, and reconfigure operations are just a few common recommendations. The reality is, you cant just uproot a manufacturing facility and move it overnight, as if it were the floating house in the movie Up, carried away by a bunch of balloons.
Picture this: You’re a warehouse manager, and with a few taps on your smartphone, you instantly know the exact location and quantity of every item in your inventory. That’s not science fiction—it’s the power of mobile inventory management. Ready to turn your inventory from a headache into a strategic asset?
Sorting through this to make a decision on a new planning solution at this time is tough. .” I agree that the market is a bit of a mess. Each supply chain planning technology at the end of 2024, went through disruption–change in CEO, business model shift, layoffs, re-platforming and acquisitions. My advice? You are right.
Many organizations are now realizing that resilience is not just a supply chain add-on; it’s a fundamental capability. Leading organizations are building supply chains that are less exposed to single points of failure, more informed by real-time data, and more able to adjust sourcing, inventory, and routing based on current conditions.
Just-in-time (JIT) inventory models, lean supplier networks, and offshore manufacturing reduced expenses but left companies exposed to disruptions. The COVID-19 pandemic and ongoing geopolitical shifts demonstrated the risks of relying on single-source suppliers and minimal inventory buffers.
My advice,” he concluded, “is just jump in. Business Network Takeaways While Business Network rolls up into the spend management product development organization, the trading partner collaboration this platform covers extends beyond just sourcing. With that level of investment, one would expect an aggressive product buildout.
They are no longer just vendors of goods and services. Below is a checklist of key actions to follow: Dedicate Time to Supplier Relationships Reallocate time and prioritize direct engagement with key suppliers. For instance, suppliers may have strong Vendor Management process expertise that will help reduce working capital.
Volatile markets, global disruptions, and the need for real-time insights are pushing traditional systems to their limits. data extractors, search APIs) to perform tasks, enabling them to dynamically adjust to new information and real-time knowledge sources. Typically, these systems consist of standard-task agents (e.g.,
If the team just delivers something to regional executives and they’ve had no input, they question the results. In terms of resilience, the goal is to reduce lead times and increase service levels. This French public multinational was selected as having the best global supply chain by a leading analyst firm.
Excess inventory weighs down supply chains. These inefficiencies inflate costs and slow response times when customer needs change. Manufacturers are shifting to on-demand production to align output with real-time demand. The Hidden Costs of Traditional Inventory Models Traditional inventory models were built for predictability.
However, the juice for my newfound nightly routine soon became difficult to find, perpetually out of stock each time I tried to purchase it at the grocery store. With tart cherry juice sales transitioning into a steady demand pattern, retailers must adapt their inventory strategies accordingly to meet this evolving consumer preference.
Balancing forecast accuracy with inventory management gets more challenging every day. Artificial intelligence (AI) and rapidly developing generative AI tools provide complex, real-time, and in-depth insights specific to supply chain management. Traditional approaches often divide departments like sales, marketing, and production.
Once upon a time, the world of manufacturing was a relatively stable place. Suddenly, managing inventory is the name of the game for companies trying to manage working capital and maximize profit while keeping customers happy. And that’s where real-time perpetual inventory signals come in. Let’s take a closer look.
In conventional supply chain planning , planners using basic tools (typically spreadsheets or legacy systems) forecast just one number for each item. In modern distribution networks, meeting service levels requires getting precisely the right inventory to the right locations at the right time.
Don’t just talk about variability. A waste of time. Don’t waste time grumbling about it, just accept it for what it is. Don’t waste time grumbling about it, just accept it for what it is. At that time, there was no email. Price increases. Ocean booking cancellations. Focus here.
The goal is no longer just resilience – it’s antifragility. Coined by Nassim Taleb, antifragility means getting stronger from shocks, rather than just surviving them. The best supply chains don’t just withstand disruptions – they thrive in uncertainty, using crises as catalysts for improvement.
His keynote address highlighted the company’s recent accomplishments, such as the introduction of a new inventory planning solution, substantial investments in research and development, and advancements in artificial intelligence. The event, held in sunny Las Vegas, was well attended and featured numerous speakers with innovative ideas.
In todays unpredictable business environment, inventory is no longer just a cost centerits a strategic asset. And with volatility comes the need for smarter, faster, and more flexible inventory management strategies. And with volatility comes the need for smarter, faster, and more flexible inventory management strategies.
In todays fast-moving supply chain world, success hinges not just on speed or scale, but on intelligence. They may be able process and use large amounts of data, but they often lack the real-time execution visibility and adaptability required to thrive in a dynamic environment. These arent just buzzwords.
As Black Friday rushes past, you may be reviewing your inventory performance, especially if certain items sold out too fast or if slow-movers are now taking up too much space. Even worse, maybe you did have inventory in your network, but it was in the wrong location to meet customer demand.
This is more evident in supply chain, where time-tested methods are being replaced with new ones. Traditional methods of aligning these departments rely on time-consuming meetings, manual data reconciliation, and an often slow, sequential decision-making process that creates a lag in response times. Enter Generative AI (GenAI).
Traditional procurement, with its long-term contracts and rigid supplier ties, just isnt cutting it anymore. Strategic moves like bulk buying, closer supplier partnerships, and syncing procurement with supply chain planning can tighten inventory, cut waste, and free up cash. What Is Agile Procurement?
To improve their operations, they installed autonomous mobile robots in their warehouse. According to a survey of 250 global companies by the consulting firm McKinsey, 91% of shippers and 75% of logistics service providers have implemented a warehouse management system. There is a lag before smaller companies begin to implement the technology.
Your Aftermarket Supply Chain is More Complex Than You Think: Stop Guessing, Start Optimizing Lets be honest: managing spare parts inventory requires specialized strategies unlike any other inventory management process. Suboptimal inventory distribution: excessive stock in low-demand locations and shortages in high-demand areas.
Automotive: Managing tariffs; overcoming supply constraints and cost surprises For automotive manufacturers , tariffs don’t just impact costs—they create major supply constraints. Automotive businesses can gain a significant edge by implementing real-time scenario planning.
As you would expect, major emphasis was placed on the role of AI to deliver accurate, timely, and improved decisions at all points of supply chain processes using a combination of human-to-AI agent and agent-to agent collaboration. We are a quarter of the way into the 21 st century and many supply chain practices are still behind the times.
It leverages historical data, competitive intelligence, and external factors to guide inventory planning and resource allocation. Take Shamir Optical , for example: by automating planning decisions, they scaled operations across 20 locations each with 35,000 SKUswithout adding to their team of just three planners.
It leverages historical data, competitive intelligence, and external factors to guide inventory planning and resource allocation. Take Shamir Optical , for example: by automating planning decisions, they scaled operations across 20 locations each with 35,000 SKUswithout adding to their team of just three planners.
By the time the pandemic hit and inflation took its toll, margins dropped for the first time in decades, and volume contractions became the norm. As a result, many CPG leaders have been forced to focus heavily on cost reduction just to protect margins. But today’s market is anything but typical.
Tactical forecasts often focus on product families or categories, but operational performance is determined by SKU-level decisions, location-specific constraints, and time-sensitive actions. Optimization Advanced modeling of real-world constraints like capacity, lead times, and inventory ensures efficient execution.
Even more impressive, lost sales due to stockouts can decrease by up to 65%, while inventory reductions of 20% to 50% are possible. This advanced analysis allows businesses to predict promotional lift with unprecedented accuracy, ensuring optimized production schedules and inventory positioning through sophisticated supply planning.
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