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

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.

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.

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.

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.

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

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.

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?

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.

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.

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.

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%

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 ?

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

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.

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.

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.

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.

5 Ways SMEs Can Improve Inventory Turnover

Unleashed

To ensure your small business is operating efficiently, effectively managing inventory and meeting customers’ needs, you should aim to improve inventory turnover. Inventory turnover is the number of times a business sells and replaces inventory within a specified timeframe. The inventory turnover ratio is used to determine the effectiveness of inventory control and how long a business takes to sell its on-hand inventory stock.

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.

Double Inventory Turnover In 9 months!

Supply Chain Game Changer

Check out World Class Inventory Turnover Breakthrough Elements! “If we are truly a Supply Chain Services Company, then why is our Inventory Turnover only at 7?”, I needed to meet with the company leaders in the Supply Chain function quickly. Subscribe Here!

Creating an Actionable Plan for Unlocking Working Capital with Inventory Optimization

Arkieva

For many companies, the term “inventory optimization” has become more of a catch phrase than an actual reality. The idea of cutting inventory costs while maintaining the same level of customer service is rather elusive. Hence, reducing the need for an excess in inventory.

The View from Finance: Freeing Up Cash with Inventory Optimization

ToolsGroup

Inventory optimization is one proven way to do it. Inventory is an untapped, cash-rich asset. Most companies have some form of supply chain systems to manage inventory from production through delivery. Of course, you need inventory. Inventory Optimization

Top 5 Ways Inventory Tracking Technology Is Evolving

Cerasis

In fact, a recent survey of economic experts, reports Jeff Wacker of Retail TouchPoints, found up to 59 percent of retailers are making plans to invest in technology, which includes inventory tracking technology. Inventory Tracking Technology Leverages Internal and External Real-Time Data.

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.

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.

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.

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.

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.