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.

Meeting the meat demand

Quintiq

But this begs the question: How do supermarkets and meat processors manage their supply, meet the demands put upon them and balance their inventories? Meat consumption is growing globally, and producers are working hard to meet increased consumer demand while maintaining sustainable and responsible practices in both livestock management and supply chain optimisation. or lamb chops (Australia Day!) – and have a sales forecast that meets SLAs and stock targets?

Supply Chain Inventory Optimization – Beyond the Analytics

Cerasis

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.

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. Inventory distortion” (the combined cost of out-of -stocks and overstocks) accounts for $1.1

Automated Order Processing and Proactive Inventory Management

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

Focusing on this information once per month during the S&OP meeting is too late for all business units to align.

Still managing your inventory with spreadsheets?

ToolsGroup

Most companies are still trying to use Excel to optimize their inventories. Supply Chain Insights’ 2018 Inventory Optimization Technologies Study suggests the number may be as high as 75%. Much of inventory is a hedge against uncertainty.

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.

Inventory Management

LeanCor

So that leaves us logisticians scratching our heads, how do we meet customer expectations when, at this point, they seem so unrealistic? Inventory management, network infrastructure, and labor deployment are all critical components necessary to meet this intense customer demand.

Four ways Inventory Optimization can address tighter supply constraints

ToolsGroup

When supplies get tight, inventory optimization can help focus production around the most critical products while reducing requirements for other items. Inventory (both finished goods and materials) can then be allocated to more critical demand. Inventory OptimizationAs the (U.S.)

Still managing your inventory with spreadsheets?

ToolsGroup

Most companies are still trying to use Excel to optimize their inventories. Supply Chain Insights’ 2018 Inventory Optimization Technologies Study suggests the number may be as high as 75%. Much of inventory is a hedge against uncertainty.

Supply chain inventory optimization – Beyond the analytics

Kinaxis

But the sheer complexity of supply chain networks, and the impact design decisions have on operational performance, makes supply chain inventory management aligning inventory investments with on-time customer delivery and margins a major challenge. Implementing inventory optimization.

Inventory Optimisation for Greater Inventory Control

Unleashed

The biggest challenge of inventory control is getting the balance right, to meet the challenge of matching supply volumes to customer demand and with any good enterprise or activity, it usually pays to start with the basics. Inventory optimisation basics. Unique, short and unmistakable numbers for inventory items. An accurate beginning counts of all inventory stock. Software to track inventory activity in real time. Robust inventory control policies.

What is Inventory Carrying Cost?

EMERGE App

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. What is Inventory Carrying Cost?

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?

This is Not Your Father’s Inventory Optimization

Logility

Although the marketing slogan didn’t help, Oldsmobile’s downfall was not changing its product line fast enough to meet buyer expectations. These first solutions were mostly used for periodic review and optimization of inventory carrying parameters. Inventory Optimization

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. This included monthly reviews between business units and central operations teams and adaptive inventory segmentation policies.

Optimizing Retail Supply Chains to Meet Demand and Reduce Costs

Transportfolio

It’s no secret that retail supply chains can be particularly complex; trying to continuously meet changing consumer demands while also driving growth can result in missed opportunities to manage cost and drive efficiency.

Apparel and footwear: At what point is missed sales better than excess inventory?

Kinaxis

In adidas’s recent earnings call, CEO Kasper Rorsted warned that adidas would miss its 2019 growth target because its supply chain was unable to meet the huge demand for its mid-priced apparel, especially in North America. by Harish Iyer.

Meeting Demand During the Holidays

Elementum

As spending on the holidays continues to grow , retailers and logistics operators have to take special measures to meet the demand. With so many opportunities for customers to shop, the biggest problem brands encounter is predicting and meeting customer demand. Check inventory and monitor consumer reports to predict which products are going to be in demand. 2017 has been an exciting year for the tech industry and holiday shoppers alike. According to a recent study, 34.6%

Five Types of Inventory Optimization You Should Know

ToolsGroup

Inventory configuration is usually the predominant issue in most manufacturing environments. Inventory policy is usually the predominant issue in most distribution environments. This risk pooling approach frequently requires less inventory.

Fire and Ice Inventory Planning

Valogix

Effective and efficient supply chain inventory planning teams are absolutely critical to meet the ever-increasing demands of customers. Teams are getting fired up to meet the company goals and deliver service excellence. Inventory Planning Supply Chain

Inventory Metrics: From Insight to Action

Kinaxis

by Andrew Dunbar Over the last several weeks, this blog series on Inventory Management has explored the objectives and roles of inventory managers and outlined several of the improvement levers available to them. So, what do you need to measure to manage your inventory ?

Excess Inventory? No Problem. You Have Trailers In the Yard.­­

Talking Logistics

With the national warehouse vacancy rate hovering at record lows and warehouses bloated with inventory pulled in from China during 2018 to get ahead of impending tariffs, companies can combine flexible storage options with advanced technology to create an end-to-end supply chain solution that works. But even as developers have flooded the market with new inventory, some retailers are still having trouble finding adequate, flexible space. The post Excess Inventory?

Case Study: Major Medical Company Meets UDI Compliance

AB&R

Since their inventory is classified as medical devices, the UDI requires the company to provide a unique product label in a barcode format on every device. The post Case Study: Major Medical Company Meets UDI Compliance appeared first on AB&R. Background and Challenge.

Why OmniChannel Solutions are Needed in Shipping & Logistics to Meet Consumer Demand

Cerasis

For example, small-business e-stores have managed to create environments that allow customers to see inventory in real time, reducing problems with excessive ordering.

Preventing 3 Common Inventory Control Issues

Unleashed

For large corporations or SMEs, correctly managing your inventory stock is imperative to achieving an efficient, sustainable and profitable business. Inventory control , however, brings with it many issues but with the right tools, some of the common ones are easily managed. Problems include product stockouts that result in lost sales opportunities and unhappy customers and product spoilage or dead inventory stock which will incur unnecessary costs and tie up storage space.

Best Buy Increases Inventory to Meet Customer Demand Across Channels

Supply Chain Nation

In this week’s Friday in 5: Best Buy increases inventory to support multiple channels; Americans say their economic prospects are brighter, despite ongoing concerns; Nordstrom bets big on high-touch technology; Parts Town takes a new approach to automation technology; and a new complication slows free trade negotiations. According to the Wall Street Journal, Best Buy reported inventories on its balance sheet at $4.96

5 Reasons You Need Modern Inventory Solutions for Optimum Inventory Control

Unleashed

When deciding where to prioritise budget spend for greatest return on investment, companies have difficult decisions to make and while inventory control continues to be fundamentally impacted by innovation, it is often overlooked when the time comes to allocate funds. When inventory control is approached as a cashflow measure, the financial impact of excess stock, slow-moving SKUs, stock-outs and obsolete or dead stock, provides a new perspective. Real time inventory.

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.

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. Ordering new inventory.

Brains Meet Brawn in Retail & Supply Chain

Supply Chain Nation

The emergence of AI and Machine Learning in the supply chain is changing the way managers approach managing inventory, production, distribution and selling to optimize the customer experience. Further, this estimate will never be 100 percent accurate, so making decisions about how to manage inventory must incorporate this uncertainty and the potential risk of lost sales or potential spoilage. The changing supply chain landscape.

Meeting the Demands of a Multichannel Pricing Strategy

Unleashed

This strategy is particularly effective for clearing the warehouse of surplus inventory stock and with the real-time functionality of an online inventory management system, the sales platform will update immediately when stock has sold out. It’s one of the many great ways to get rid of surplus or slow-moving inventory stock. Online inventory management. The post Meeting the Demands of a Multichannel Pricing Strategy appeared first on Unleashed Software.

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

Logistics Viewpoints

But there were three main themes that popped up in just about every meeting I sat through, and I could hear people talking about them as they […]. Business Intelligence Cloud/Software-as-a-Service Inventory Management Omni-channel logistics Replenishment Retail Supply Chain Planning

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? Essentially, the business needs to have a strong inventory management plan in place.

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. The basic and most limited type of inventory management system is a manual system.