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. Inventory Management is about having a right balance of expectations from different functions of the supply chain.

Omni-Channel Logistics Leaders: The Importance of Real-Time Inventory Visibility

Talking Logistics

The research focused on the inventory visibility and optimization challenges that companies face today related to omni-channel fulfillment and the actions they should take to elevate their omni-channel performance.

How manufacturers optimize their inventories

ToolsGroup

Editor’s Note: Microsoft’s Colin Masson, Global Industry Director of Manufacturing Solutions (that's him on the left), sat down with me to discuss how manufacturers optimize their inventories. It then uses this model to understand the impact of demand forecasting on inventory.

What Your Inventory Reveals about Your Reverse Logistics

PLS Logistics

Common goals for reverse logistics are to improve customer satisfaction, cut costs, maximize return on assets. The Importance of Reverse Logistics. Logistics Transportation Supply Chain Inventory

End to End Supply Chain Visibility - Solving The Data Problem

inventory more clearly, you can see. inventory. ClearMet al | Solving the Data Problem in Supply Chain Transformation ClearMetal is a predictive logistics company that uses AI to enable supply. 1DIGITAL TRANSFORMATION, END-TO-END VISIBILITY, AND. THE "DATA PROBLEM".

How manufacturers optimize their inventories

ToolsGroup

Editor’s Note: Microsoft’s Colin Masson, Global Industry Director of Manufacturing Solutions (that's him on the left), sat down with me to discuss how manufacturers optimize their inventories. It then uses this model to understand the impact of demand forecasting on inventory.

Drone-Powered Digital Inventory

PINC YMS

Even though 90% of inventory is stationary in the supply chain, according to industry experts, inventory accuracy at distribution centers, warehouses, and plants ranges from 89% to 99% *. That’s because most of the inventory management process is still a manual activity. innovation inventory robotics Logistics Viewpoints warehouse drones

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.

With Tariffs In Flux, Digital Inventory Technology Might Be The Solution To Holiday Bloated Inventory Levels

Talking Logistics

The tariff situation has companies in a quandary as they debate whether to “load up” on inventory now — to ward off the impacts of potentially-higher tariffs on imported goods — or hold off for now and hope that the political environment calms and things get to back to “normal.”

Inventory Checks Powered By Drones

PINC YMS

Drones are enabling organizations to use employees more efficiently and improve inventory accuracy in a world where consumers want everything cheap and now. logistics innovation digital supply chain inventory drones inventory robotics

Your Supply Chain Probably Has a Data Problem - Start There

Supply chain visibility gives a clear view of inventory and the. activities involved in the transport of that inventory. Supply chain and logistics people spend. Today when supply chain and logistics teams are tasked.

Strategic Logistics: 8 Steps to Controlling Inventory Flow & Driving Warehouse Efficiency

Cerasis

Today we will talk about the flow of strategy as pertains to inventory flow and driving warehouse efficiency. Staying Strategic in the Warehouse with Better Inventory Flow. Throughout the entire order fulfillment process, companies have a duty to ensure optimum warehouse efficiency by appropriately controlling inventory flow. Warehouses should also consider implementing these best practices to ensure effective warehouse management and maintain control and flow of inventory.

[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.

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.

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.

Taking a Holistic View on Inventory May Lead to Change in Strategy

Talking Logistics

Inventory optimization has always been a challenge while designing and planning a supply chain. A variety of barriers can impact an effective inventory strategy, such as working in functional silos and demand/supplier volatility¹. Asking the Right Inventory Questions.

What's wrong with ABC inventory classification?

ToolsGroup

ABC inventory classification has been around so long that most planners just assume it’s the only way to segment your inventory. Inventory Segmentation from the 1960s. To understand the shortcomings of ABC inventory classification, we need to understand how it is done.

Is Inventory Optimization a Key to Omnichannel Survival?

ToolsGroup

Industry analysts have pointed out an obvious fit with inventory optimization. If retailers optimize their inventory—dynamically aligning their supply chains to changing customer preferences and behavior—they can position inventory to satisfy demand at the lowest possible cost.

Improving the Transportation Solve: Jointly Optimizing across Inventory and Transportation

Logistics Viewpoints

Food & Beverage Industry Inventory Management Logistics Outsourcing Supply Chain Optimization Transportation Management Systems inventory Mananged Transportation optimization TMSWhen a company is looking to reduce their freight spend, while maintaining or improving service levels, there are two main paths they can take. They can buy and implement a transportation management system (TMS).

The Benefits of Evolved Vendor Managed Inventory Model Led by Web-Based VMI

Cerasis

So why do we feature content related to Vendor Managed Inventory? In a VMI model, part of the equation is the inbound & outbound flow of the inventory. Inventory is then put on pallets and shipped as freight. ” Vendor Managed Inventory Model: A Quick Back Story.

Inventory Checks Powered By Drones

Talking Logistics

Drones are enabling organizations to use employees more efficiently and improve inventory accuracy in a world where consumers want everything cheap and now. Every company on the planet that has a significant supply chain operation is plagued by inventory reconciliation problems.

Steps to Controlling Inventory Flow & Driving Warehouse Efficiency

Cerasis

Controlling inventory flow is a top priority among warehouse managers, and gaining control over inventory drives warehouse efficiency. Controlling Inventory Flow Begins With Liquidate Nonessential Products. The first step to controlling inventory flow effectively is liquidation of all non-essential products, explains Paul Trujillo of Business2Community. This will help to prevent the reordering of slow-moving products and ensure optimum inventory levels.

Tips for Effectively Managing E-Commerce Logistics

Cerasis

Yet, as few as 33 percent of shippers have taken advantage of a transportation management system (TMS), reports Michael of Levans of Logistics Management. What Are the Challenges in Managing E-Commerce Logistics? E-Commerce LogisticsE-commerce is in the middle of a boom.

Optimizing logistics: One wild ride

Quintiq

In logistics, everyone has a plan. Some logistics professionals, though, ride the supply chain like a bucking bronco – hanging on for dear life, taking different twists and turns to avoid potential disaster when something goes wrong, and being proud that they made it through another day.

Vendor-managed inventory and distribution planning in the food and beverage industry – here’s something to chew on

The 21st Century Supply Chain

What is vendor-managed inventory? VMI is the process whereby a supplier or vendor manages and replenishes inventory at a customer’s location at the levels required by the customer. The benefits of the vendor-managed inventory process include: Enhanced visibility for vendor.

5 Ways Of Streamlining Logistics Operations With Autonomous Robots And Drones

PINC YMS

warehouse drones inventory robotics digital supply chain logistics supply chain robots

The Current State of E-Commerce Logistics

Cerasis

As recently as 2016, the state of e-commerce logistics triggered a rush to expand warehousing. Challenges in Today’s State of E-Commerce Logistics The challenges of today’s e-commerce strategies were formed when supply chain leaders believed the only solution to e-commerce was expansion.

Vendor Managed Inventory Model for Supply Chain Cost Reductions

Cerasis

Below I will outline how a vendor managed inventory model, in conjunction with reverse marketing, value analysis, and collaboration will achieve supply chain cost reductions. Vendor Managed Inventory Model for Supply Chain Cost Reductions. The distributor maintains the inventory plan.

Static Inventory an Untapped Source of Working Capital

Supply Chain @ MIT

Inventory management policies that fail to keep pace with shifting product demand can lock up valuable working capital, especially in volatile markets. By dynamically managing inventory without compromising service levels, companies can free up these unexploited reserves of working capital.

NRF 2015: Big Data, Inventory Centralization, and the Cloud

Logistics Viewpoints

Business Intelligence Cloud/Software-as-a-Service Inventory Management Omni-channel logistics Replenishment Retail Supply Chain Planning Another year, another NRF Big Show in the books.

Are You Keeping the Right Amount of Inventory?

Supply Chain @ MIT

Inventory management gets complicated when a company keeps numerous SKUs with unique product characteristics. Consequently, companies in this market often rely on conservative inventory models that maintain excessive levels […].

Logistics Company

LeanCor

2 Key Inventory Metrics Your Logistics Company Should Be Measuring. ADOH represents how much inventory a process has stored expressed in terms of how many days that process could sustain activity by consuming the stored inventory. Inventory Carrying Cost.

Warehouse Cost Reductions: 3 Understandings Driven By Inventory Management & Lean Principles

Cerasis

This is the second part of my series on various ways to reduce overall costs as it relates to logistics and warehouse cost reductions. In the first part I put forth 6 areas of focus in order to reduce logistics costs. A Focus on Inventory Control Begets Warehouse Cost Reductions.

What’s new in the automotive supply chain? (Hint: Inventory Replenishment Policies)

The Network Effect

Today I want to explore how automobile suppliers are improving their operations via inventory replenishment policies. Effective inventory replenishment policies in use today include the 830/862 converted to a delivery release, KanBan, Min/Max, and Sequencing.

Editor’s Pick: The Ideal Inventory Optimization Approach for Omni-channel Retailers

Talking Logistics

Note: Today’s post is part of our “ Editor’s Pick ” series where we highlight recent posts published by our sponsors that provide practical knowledge and advice on timely and important supply chain and logistics topics. In this post, Scott Fenwick, Manhattan Associates ’ senior director of product management, describes how to take inventory optimization in an omni-channel environment to the next level.