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.

What is Inventory Shrinkage?

Supply Chain Game Changer

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.

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11 Inventory Management Best Practices

Supply Chain Game Changer

Featuring Our 10 Best Inventory Management Articles! Inventory Management Best Practices article originally published by, and permission to publish here provided by, Dave Joseph at veridian.info. Use ABC Analysis to Categorize Your Inventory. Guest Blog Post Inventory Managemen

Supply chain inventory optimization – Beyond the analytics

Kinaxis

by Alexa Cheater From designing, sourcing and manufacturing, to distribution and consumption, your supply chain is at the heart of your customer satisfaction levels. The equivalent of 7% of America’s GDP is tied up in inventory, and accounts receivable and payable.

Inventory Optimization 101 – Smart & Effective Inventory Management

ThroughPut

What is Inventory Optimization? It includes the practice of having the right levels of inventory to meet your target service levels while keeping a minimum amount of capital locked for inventory. Inventory optimization can help overcome these errors to a large extent.

Inventory Optimization 101 – Smart & Effective Inventory Management

ThroughPut

What is Inventory Optimization? It includes the practice of having the right levels of inventory to meet your target service levels while keeping a minimum amount of capital locked for inventory. Inventory optimization can help overcome these errors to a large extent.

Segmenting Your Inventory by Gross Margin and Demand Variability

ToolsGroup

Gartner Research analyst Paul Lord has developed a thought-provoking approach (shown in the above diagram) for tailoring supply and inventory tactics to different inventory segments. As we showed in a previous blog, it’s not the only way to segment your inventory, nor nearly the best.

Why Medical Device Companies Need End-to-End Inventory Visibility

DSI

The constant and rapid movement of inventory in the medical device industry wreaks havoc on manual, paper- and spreadsheet-based systems. Inventory visibility gaps result in missed orders or excessive safety stock. Benefits of end-to-end inventory control include: Productivity.

Omnichannel In Manufacturing: Why Manufacturers Are Following Retailers to an Omnichannel World

Cerasis

The application of omnichannel in manufacturing primarily focuses on the collaboration between suppliers, or vendors, and distributors. The Problem: Seamless Omnichannel Experiences Extend Beyond Retailer-Customer Relationships Keeping up with customers’ demands has natural implications for business-to-business sellers, including manufacturers. Manufacturers still using disjointed processes and operating in functional silos are unable to keep up with demand.

Drop Shipping: A Perfect Fit for Supply Chain Operating Networks

Talking Logistics

As reported last month by Jennifer Smith in the Wall Street Journal , “A growing number of retailers are relying on suppliers to ship online orders directly to customers, a strategy they hope will help them compete with e-commerce rivals without spending more on inventory.

What is Drop Shipping? How does Drop Shipping work?

EMERGE App

If you’re that kind of person, then drop shipping is the thing for you. What is Drop Shipping? Drop shipping is a business method where you (store owner/ retailer) ship products directly from manufacturers or wholesalers to the customer. How does Drop Shipping work?

Trends In Manufacturing: 5 Tangible Technologies are Shaping the Future of Manufacturing Now

Cerasis

Continuous improvement is part of the game in manufacturing. Among the new trends in manufacturing improving the industry, additive manufacturing and cloud-based systems will push manufacturing forward in 2017. In fact, rapid design and lightning-fast prototyping, reports Mark Dohnalek of Manufacturing Business Technology magazine , will allow manufacturers to design and produce products in a few days, if not hours. Manufacturing

SanDisk’s Story of Customer Segmentation Strategies Using Inventory Postponement

Supply Chain Shaman

Instead, in the SanDisk journey , they adjusted the speed of response to their customer segments, and actively designing inventory postponement strategies. SanDisk Corporation designs, develops and manufactures flash memory storage devices and software.

4 Key Trends to Watch in Smart Manufacturing and Supply Chain

Cerasis

The advancements in 3D printing and 'Additive Manufacturing,' coupled with supply chain efficiencies, could make distributed manufacturing a reality, ushering in the era of smart manufacturing. The Continual Coverage and Now Reality of Smart Manufacturing with 3D Printing.

Improving inventory management

EFT

What’s more plenty on the retail side have found themselves with held inventory but it suddenly locked away in stores that people could no longer frequent, browse and shop from. In his opinion the way you do that is “By putting inventory close to customers.

31 Motivations for Reshoring Manufacturing & Updated Reshoring Stats

Cerasis

Many off-shore manufacturers have returned to the U.S., Those changes, along with high costs of transporting materials and finished goods to and from overseas locations, make the value of reshoring likely to become a compelling financial reality for many manufacturers.

6 Reasons to Track Your Returnable Shipping Assets

Roambee

In the world of logistics and supply chains, chances are almost everything that’s moved is moved ON or IN shipping assets such as trays, pallets, crates, tubs, bins, or containers.

Steel Fabrication and General Manufacturing Tips and Tricks for 2015

Cerasis

Still in all most fabricators have seen steel sales rise and customer demands and inventory requirements increase over the past several years. Now is the Time for Manufacturing to Look at Logistics Efficiency. Manufacturing seems heading for a long awaited comeback.

The missing link in automotive contract manufacturing

DELMIA Quintiq

Fulfilling this multi-faceted demand has become a major challenge for car manufacturers, who have to deal not only with countless models and colors but also with an ever-increasing range of features and options. Volatile customer demand can be bridged by making use of contract manufacturers.

E-Commerce Shipping Strategy Challenges to Consider for Perfect Implementation

Cerasis

The path to perfect implementation of a new e-commerce shipping strategy is not always clear, and it comes with several challenges that can undermine the efficacy and cost-effectiveness of e-commerce. Determine e-commerce shipping costs and pricing models.

What is Inventory Carrying Cost?

EMERGE App

And we pick the most cost effective means of shipping. But while the newly arrived goods sit in your warehouse, did you know that there are also costs associated with keeping inventory? They are collectively called inventory carrying costs because they need to be paid to hold inventory.

Calculating Finished Goods Inventory

EMERGE App

As a manufacturer of goods, you’re likely to have finished goods inventory in your business. In addition to worrying about sales forecasts and production schedules, there’s also the issue of properly calculating finished inventory for reporting and decision-making purposes.

Six Ways Warehouse Inventory Management Software Optimizes Efficiency

IQMS

The Warehouse Inventory Management Software market grew to $1.4B Warehouse Inventory Management software and systems help reduce infrastructure costs and enable the reallocation of existing IT resources to drive productivity improvements, according to IDC.

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

Kinaxis

As with any industry, food and beverage faces its own unique set of supply chain challenges, including: Expiring ingredients, manufactured product and packaged goods. What is vendor-managed inventory? The vendor is usually the supplier, a manufacturer or a distributor.

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.

ERP Sustains Manufacturing during COVID-19

IQMS

The COVID-19 pandemic has pushed manufacturers to rapidly shift gears, from addressing work-from-home policies to managing extreme swings in demand and uncertain supply chains. a leading manufacturer headquartered near Cleveland, OH. All Posts Manufacturing Trends & News

How Manufacturers Can Benefit From The Theory Of Constraints

IQMS

Goldratt’s classic book, The Goal regarding how manufacturers can benefit from the Theory of Constraints (TOC). How Manufacturers Can Benefit From The Theory Of Constraints. When constraints are ignored, manufacturers are squandering large amounts of capacity.

Lean Manufacturing: Is it Really Worth It? 16 Big Benefits Say, “Yes.”

Cerasis

Customer expectations of reliable quality and rapid delivery forces today’s manufacturers to either shorten cycle times or lose business. There are multiple good models for lean manufacturing operations. Who Needs Lean Manufacturing? A company in need of lean manufacturing practices tends to be easy to identify, typically displaying multiple of the following symptoms of operational deficiency: Inventory amasses in buffer stocks. cuts inventory costs.

Lean 263

Practicing Social Distancing while Keeping Inventory Moving during COVID-19 pandemic

PINC

The global pandemic has thrown manufacturers, distributors, and retailers into a mode that most have never experienced before. live/drop, type of inventory, type of equipment, load status, etc.). Major Beverage Manufacturing company.

3 Inventory Control Techniques to Improve and Maintain Inventory Accuracy

Unleashed

Inventory accuracy is vital to an organisation’s long-term success. Profits depend on the sale of inventory stock and if you don’t know what or how much you are selling then you could be missing an opportunity to maximise sales. Having poor and inaccurate inventory control can be costly because it causes issues such as unplanned stock-outs, the shipping of wrong products to customers, wasted resources trying to locate misplaced items and inventory shrinkage.

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. Unfortunately, this includes all possible processes, data collection points, and inbound to manufacturing areas.

E-Commerce Shipping: Why Shippers Are Mastering E-Commerce to Go Omnichannel

Cerasis

Unfortunately, shippers may overlook the biggest obstacle to omnichannel, developing effective e-commerce shipping practices. According to Stacey Rudolph of Business2Community, e-commerce shipping is complicated with an average return rate of 30 percent. Regionalize inventory.

RFID and IoT Providing Double Benefits for Automotive Manufacturers

Cerasis

RFID, which usually comes in the form of a miniscule chip that utilizes radio waves in the identification and tracking of specific people, objects, tools or vehicles, offers a number of benefits to the manufacturing industry in general. This technology is able to bolster supply chain and inventory management by using a digital database of raw materials, finished goods, and current production cycles. It’s also useful in enterprise resource planning and shipping logistics. .

WordPress Ecommerce Shipping: Scaling Your Online Store Through Shipping

ShipBob

Even more, WooCommerce offers flexible shipping options and settings, including the opportunity to work with tech-driven order fulfillment companies and other platforms that can help you grow your business. In this article, we’ll cover everything you need to know about shipping for your WooCommerce store, including WooCommerce shipping setup, available plugins, and ecommerce fulfillment options. Shipping on WordPress: your top 3 options. Table Rate Shipping Pro.

The Complex Connection Between Cashflow and Inventory

Unleashed

Cashflow and inventory are intricately linked to each other. This is an important concept to understand for inventory managers and business owners alike, as a tell-tale sign of successful business is optimising cashflow and keeping your inventory to a safe minimum.