Inventory Management: We Can Do Better

Supply Chain Shaman

Each day through the COVID-19 pandemic, I tune into Anthony Cuomo’s (governor of New York) daily briefings. Downsizing inventories over the past decade crippled the response.” In Table 1, I share research collected for the Supply Chains to Admire analysis on the average days of inventory by industry across the period of 2004 to 2019 by increments to match economic shifts. Days of Inventory Peer Group Across Time Periods.

Multi-echelon inventory optimization vs inventory optimization

ToolsGroup

Editor’s Note: Last year ToolsGroup became Microsoft’s partner for Multi-echelon Inventory Optimization (MEIO) in Industrial accounts. Microsoft and I collaborated on a blog introducing the basic concept of MEIO, comparing it with Inventory Optimization. The subway system is the lifeblood of New York City, carrying an average of 5.7 The overarching goal of both IO and MEIO solutions is to efficiently match inventory levels to accommodate forecasted demand.

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Multi-echelon inventory optimization vs inventory optimization

ToolsGroup

Editor’s Note: Last year ToolsGroup became Microsoft’s partner for Multi-echelon Inventory Optimization (MEIO) in Industrial accounts. Microsoft and I collaborated on a blog introducing the basic concept of MEIO, comparing it with Inventory Optimization. The subway system is the lifeblood of New York City, carrying an average of 5.7 The overarching goal of both IO and MEIO solutions is to efficiently match inventory levels to accommodate forecasted demand.

Case Study: How Nimble Storage’s Focus on Inventory Management Improved Visibility and Planning Cycle Times

Kinaxis

Stacey spoke about how as their install base grew, the company faced challenges getting visibility into its more than 70 global inventory hubs and spare parts depots for its service parts planning business. With RapidResponse deployed, we have the confidence we can keep up with our growing install base to achieve visibility of inventory at hubs, depots and parts in transit. Inventory availability > 98%. Service inventory as a % of installed base COGS < 5%.

Stack It High and Watch It Fly: Is Vertical Inventory Storage Always the Answer?

6 River Systems

And this made sense when warehouses were truly pass-through for inventory. It used to be that you would source, manufacture, store, send to a store and then the consumer would access that inventory. Inventory now has to be much more nimble and therefore supply chain nodes can no longer resemble their static nature of old. In response, supply chain professionals have to consider the importance of the velocity of their inventory when designing and operating their supply chain.

Healthcare Utilization Management: Solving the Mystery of the Missing Inventory

NC State SCRC

I recently had a chance to interview a supply chain director from a mid-sized hospital in New York state, that was very insightful in helping me to think about the challenge around inventory management. Thus, the buying activity is my responsibility (supply chain), but the second critical responsibility is the clinical department needs to document accurately what they are using, and that they are using what they take out of inventory!

Bring Out the Best in Your Supply Chain

Kinaxis

The Port of New York and New Jersey was hit hard, and they “had about 24 hours’ notice before Sandy hit,” she said. In a crisis like this, Azadegan says “jobs, inventory, and profits are at stake, and beyond that, suppliers, customers, communities, and families of employees etc. A Norfolk-based railway company (CSX) then created a new rail route to New York to help get shipments back there until the port was repaired.

Time to turn around inventory falls by two days says new report

EFT

Customer demands for faster and faster service are having an effect across the supply chain finds eyefortransport’s new D3 2019 report. The median time for retailers to move returns back to inventory ready for resale has fallen from 2017 to 2018, from a median of seven days down to five days. Increasingly retailers and manufacturers are looking at building distribution capabilities into more and more facilities and the sharing of inventory and fulfilment engines.

How Do I Know If I Am Ready?

Supply Chain Shaman

How do I know if I am ready for these new technologies? The average client that has implemented demand sensing technologies has reduced inventory by 11%. Yes, it may decrease short-term sales, but in the longer-term it will increase customer service, reduce inventory and improve the execution of new product launch and trade promotions. Spending the weekend writing and then off to New York to work with a client and then speaking later in the week at a conference.

D3|Dynamic Distribution Disruption Retail 2016

EFT

Channels: Technology Supply Chain eCommerce/Retail CSCO Focus Event Date: Wed, 2016-07-13 to Thu, 2016-07-14 Event URL: [link] Event Location: New York, New York Number of attendees: 150 Programme URL: [link] Brochure URL: [link] Speakers URL: [link] Event Organiser: Priyanka Asera Event Organiser E-mail: pasera@eft.com Précis: Identify How To Align Inventory Perfectly With Fluctuating Demand Entire Month Duration: No Region: North America

Retail Supply Chain Resilience

Supply Chain Link

This is most apparent in the retail industry where consumers want the latest trends instantly, and to meet that demand, shippers look for opportunities to shorten lead times and better manage their overall inventory. This past September, designers at New York. Businesses and their supply chains have evolved as trends and consumer behavior has also changed.

StockTrim automates inventory planning so you can focus on building your brand and delivering excellent service - not stressing about forecasting.

StockTrim

Shine+ emerged in 2015 when founders, Steve Chapman and Dr Sam Prince, were on a trip to New York and brainstormed a solution to the lack of functional and healthy drinks available in Australia. Featuring: Shine+. Sugar-heavy energy drinks were saturating the drinks market, and there were hardly any beverages around for the health-conscious consumer looking to naturally enhance their mental performance. Enter Shine+ with natural nootropics

Is the “shared economy” changing logistics?

Kinaxis

New York to London? In a way, I see this as another chapter in the so called “shared economy” story, which I see as a technology-leveraged new way to outsource non-core activities. General News Inventory management capacity management Capacity planning Logistics shared economy by Alvaro Fernandez Did you know it costs approximately $100 to send an envelope from Ottawa, Ontario, Canada, to Caracas, Venezuela? That’s for three to five day service!

The Toilet Paper Supply Chain!

Supply Chain Game Changer

According to the New York Times , about 10% of the supply of giant rolls of paper used in making toilet paper for North America does come from China and India. Environment Freight and Logistics Inventory Management Supply Chain Management Coronavirus Toilet PaperSubscribe Here! Email Address. Subscribe to Supply Chain Game Changer. Coronavirus Exposes Global Supply Chain Fragility!

The New Reality of Amazon FBA with Ephraim Ausch

The Logistics of Logistics

The New Reality of Amazon FBA with Ephraim Ausch. Ephraim Ausch and Joe Lynch discuss the new reality of Amazon FBA, also known as Fulfillment by Amazon. Ephraim started his career at a bulk candy company that had retail locations in New York.

The Experiential Supply Chain

Elementum

The experience economy stems from consumers’ desire to feel closer to the source of their purchases and to feel that they are part of a new, socially responsible generation of shoppers. It’s got a lot to do with the needs of this new experience economy. Recently, Barneys in New York held a two-day event called "the Drop," which featured tattoo artists and piercers, custom sneakers and T-shirt bars, and streetwear brands like Off-White and Fear of God.

The Experiential Supply Chain

Elementum

The experience economy stems from consumers’ desire to feel closer to the source of their purchases and to feel that they are part of a new, socially responsible generation of shoppers. It’s got a lot to do with the needs of this new experience economy. Recently, Barneys in New York held a two-day event called "the Drop," which featured tattoo artists and piercers, custom sneakers and T-shirt bars, and streetwear brands like Off-White and Fear of God.

What is Supply Chain Compliance and Why is it Important?

AB&R

Be sure to check out this case study to read how we helped a major healthcare company implement a new UDI labeling process for medical devices. New technology and processes will likely need to be implemented, and what’s more, your staff will need to be on board and fully trained with these new changes. New Hampsire. New Jersey. New Mexico. New York. When you hear the word compliance , what’s the first thing that comes to mind?

5 Biggest Mistakes Sellers Make When Using Fulfillment by Amazon (FBA) with Ephraim Ausch

The Logistics of Logistics

Tactical has locations in New Jersey and California, and I’m based in New Jersey. I grew up in a Monsey, New York, a small town in Rockland County. My first job was working as a customer service representative for a bulk candy company that had an online store and 4 retail locations in New York. open a new service offering, Fulfillment by Amazon within Tactical. [06:41] [00:52] Please introduce yourself.

This Week in Logistics News (October 6-10, 2014)

Talking Logistics

across from the Empire State Building in Midtown [and on the same busy street as Macy’s flagship store], would function as a mini warehouse, with limited inventory for same-day delivery within New York, product returns and exchanges, and pickups of online orders. If it is successful, however, the New York location could presage a rollout to other U.S.

This Week in Logistics News (October 4 – 10)

Logistics Viewpoints

I’ve been working on finishing up our omni-channel strategic report, scoping my soon-to-launch omni-channel market study, and took a quick two day trip to the Waldorf Astoria in New York City for SAP’s Retail Forum. Inventory Management Logistics Technologies Logistics Trends Omni-channel logistics Retail This Week in News It’s been a crazy week here for me.

Podcast: VC Brian Aoaeh on the Future of Supply Chain Investment

Requis

Venture capital (VC) investor, columnist and educator Brian Aoaeh is part of the new generation of investors who are unlocking the opportunities in supply chain. Brian describes himself as “obsessively enthusiastic” about supply chain, and has helped many supply chain professionals connect and find synergies as the co-founder and organizer of the New York Supply Chain Meet Up and the Worldwide Supply Chain Federation.

Retail Analytics Systems Still Need a Human Touch

Supply Chain View from the Field

As more data becomes available in the grocery and retail environment, organizations are re-thinking their supply chain processes to drive increased automation, improved performance, and increased inventory turns. I also interviewed executives at Key Foods in New York, and P&G in Europe. Food Supply Chains Inventory Management Local Food Systems Logistics Retail Logistics Supply Chain Management

Omnichannel Focus on BOPIS

Enterra Insights

In addition, it solves critical challenges in final mile strategies, reduces costs associated with inventory management, and more.”[2] ” Integrated Inventory Management. Rosing noted BOPIS could help reduce costs associated with inventory management. The Parcel Pending staff adds, “Prior to the adoption of BOPIS services, retailers had two different inventory systems: one for distribution centers, and one for stores.

Is Your Supply Chain Overlooked?

DSI

True inventory visibility is the lifeblood to the overall health of any organization that produces for public consumption. There are many factors which influence the overall success or failure of an organization’s supply chain: Inventory Control: Every organization needs some way to control their inventory, and these can change depending on business requirements. To gain real-time inventory visibility? New York: Free Press

Working from Home – Impacts on Commercial Property Markets

NC State SCRC

This was a follow-up to an IACCM Vibe Summit webinar I did with Tim Cummins on the subject of what life will be like in this new economy. While the pandemic creates uncertainty for many organisations, there is an opportunity for others to commit now to a new way of working and restructure their property portfolio for the longer term. Take a look around – property markets in New York are dropping, while housing markets in New Jersey are going through the roof.

Warby Parker vs Luxottica: Supply Chain Disintermediation in the Eyewear Industry

The UCLA Anderson Global Supply Chain Blog

Luxottica maintains a warehouse in Atlanta and ships roughly 470k units of inventory each week - 300k to retail locations and 170k as wholesale to independent opticians and department stores. Consumers can then purchase at any time online by entering a prescription, and Warby Parker will send a new pair of glasses within 10-12 business days. Warby Parker maintains a warehouse in New York, through which it fulfills orders and operates its HTO program.

Italy 95

Reshoring Or Not, What is Manufacturing? 4 Questions to Ponder with Real American Manufacturers

Cerasis

Troy-Bilt : Troy, New York: Manufactured and assembled various sizes of roto-tillers called: “Horse”, “Pony”, etc. Question number three : Inventory on hand, both finished goods and individual parts, and Inventory Records Accuracy. The MPS is exploded and reads the BOM and Inventory on hand to create make (manufactured) and buy (purchased) components needed to fulfill the MPS. For any new purchases a red Traveling Requisition (TR) was used.

5 Undeniable Retail Trends this Holiday Season

Supply Chain Nation

Both retail chains expanded their toy product assortments and inventory to capitalize on the iconic toy retailer’s exit. FAO Schwartz made its big return this holiday season in New York, and their focus is on the next trend, in-store experience. According to a new eMarketer report , almost 70% of retailers are using Instagram for marketing this year and more than 28% are using Snapchat. It’s official, running low on inventory is history.

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

Four Keys to S&OP Effectiveness

Kinaxis

I heard a colleague once give the following analogy: Imagine a pilot flying from New York to Los Angeles at night without any navigation systems or instruments to measure his location, wind speed, or altitude. by Lori Smith In a previous post , I talked about the ineffectiveness of Excel, ERP, and legacy planning for S&OP. If those aren’t the right tools for the job, what is?

S&OP 196

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

This Week in Logistics News (December 8-12, 2014)

Talking Logistics

SAP Fuels New Era of Social Collaboration to Transform Work. SAP Readies a Big Business Marketplace ( New York Times ). Amazon to use bike messengers for one-hour delivery in New York City ( Reuters ). For related commentary, see A New Era for Global Trade Management Software? The new Canadian offices allow Transplace to expand its presence and continue to specialize in Canadian cross-border and intra-Canada freight.

UPS Executive Shares Insights on Total Cost of Ownership in the Electronics Supply Chain

Supply Chain View from the Field

A native New Yorker, Ken turned down a career in finance and banking for an action-packed and exciting career in the world of global logistics. Particularly on new product introductions, we needed to be very careful on being able to deploy a product roll-out simultaneously across the entire country, in California, New York Chicago, etc. Ken Torok came to my class on Monday evening, and provided a delightful discussion on total cost of ownership.

Can Twitter Help You Make Smarter Supply Chain Decisions?

Talking Logistics

IBM does this by enriching and analyzing Twitter data in combination with millions of data points from other streams of public and business data – such as weather forecasts, sales information and product inventory stats – to uncover powerful correlations that drive more actionable insights. and reached New York about 40 seconds ahead of the quake’s first shock waves…The first terse tweets also outpaced the U.S.