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.

Trade promotion forecasting: the present and the near future

ToolsGroup

The next step is to accurately predict the uplift from baseline expected to be generated by the promotion so that supply chains can optimize inventory to properly support the promotion. Trade promotion forecasting is difficult: getting it right involves factoring in many variables.

Santa & Opening Presents - Christmas S&OP For Parents

Enchange Supply Chain Consultancy

Christmas Humour Supply Chain S&OP Logistics Management Inventory Management & Stock Control“Dashing through the snow In a one horse open sleigh…”.

S&OP 107

Is Inventory Waste or an Asset?

Supply Chain Shaman

We were discussing the results of the planning benchmarking work that we have just finished, and I was sharing some insights on inventory management when one of the panelists emphatically stated, “Inventory is a waste to manage. Inventory is both.

New Apple iPhone Model Introductions Present Significant Supply Chain Challenges

Supply Chain Matters

Given all the implications, Supply Chain Matters believes that the coming quarters will present Apple’s Sales and Operations Planning, supply chain planning and supplier teams their most significant challenges to-date. High Tech and Consumer Electronics Supply Chain Inventory Management Procurement and Sourcing Sales and Operations Planning Supply Chain Planning Supply chain wide visibility Apple Apple iPhone supply chain Apple iPhoneX supply chain Supply chain Matters blog

Five Reasons Why Are We Not Making Progress on Inventory Management

Supply Chain Shaman

At the session, we discussed why companies have not made more progress on inventory management. The presentation is on slideshare.) In the case of Apparel and Automotive industries there are slight improvements, but they have shifted inventories to suppliers.

Supply Chain Visibility: Past, Present, and Future

Talking Logistics

Once you’ve built the digital network and data record, you can start to overlay executable processes to collaborate with partners on functions such as bookings, inventory management, and cost management. The post Supply Chain Visibility: Past, Present, and Future appeared first on Talking Logistics with Adrian Gonzalez. Achieving end-to-end supply chain visibility has been the Holy Grail for industry executives — always desired, but seldom achieved.

SanDisk’s Story of Customer Segmentation Strategies Using Inventory Postponement

Supply Chain Shaman

Spinnaker Management Group asked me to co-present on a demand-driven webinar with SanDisk. Instead, in the SanDisk journey , they adjusted the speed of response to their customer segments, and actively designing inventory postponement strategies. So, why did I ask SanDisk to present?

LeanCor Executives to Present at CSCMP Conference

LeanCor

LeanCor executives – Robert Martichenko (CEO), Roger Pearce (VP of Lean Deployment), and Matt Melrose (VP of Operations) – will be presenting and speaking on panels at the 2013 Council of Supply Chain Management Professionals (CSCMP) annual conference in Denver, Colorado next week.

Retail’s Phantom Inventory Menace, or the Ghosts of Christmas Present

Supply Chain @ MIT

Even with today’s sophisticated inventory management systems, retailers are woefully unaware of just how low on-shelf availability is for many of the products they carry. The culprit is “phantom inventory”—goods that […]. Featured Strategy managing missing inventory MIT Center Transportation & Logistics phantom inventory retailers' inventory problems Supply chain research why products go AWOL in stores

When SMBs Hit the Inventory Planning Complexity Wall

ToolsGroup

Inventory planning is especially important to small-to-midsize businesses (SMBs). Nobody wants to tie up more working capital than necessary in inventory, but SMBs typically have leaner resources, and a higher cost of capital means it’s more expensive to fund excess stock.

Is Poor Inventory Performance Holding You Back?

Kinaxis

by Alexa Cheater Our partner Celestica recently published the following article, ‘ Is your company being held hostage by poor inventory performance? ’ Poor inventory performance can create a significant obstacle to growth and profitability.

The Two Levers of Inventory Optimization

Logility

Back to present day and the supply chain. Two powerful levers a company can use to optimize inventory are “Working Capital” and “Customer Service Levels.” Can you model your end-to-end supply chain to determine your optimal inventory locations and levels?

Three New Ways Retailers Can Improve Inventory Performance

ToolsGroup

By using data to stock items with higher forecasted demand, they can reallocate cash that would normally be tied up in poorly performing inventory, avoid margin erosion from markdowns and dead stock, and increase overall on-shelf availability metrics.

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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.

Why Have We Not Reduced Inventory?

Supply Chain Shaman

This year supply chain leaders will celebrate thirty years of progress in supply chain management; but we have not made progress on one of the funamentals: inventory management. Have the early adopters of inventory optimization seen a reduction in inventory on their balance sheets?”

Improve Your Inventory Control with Demand Forecasting

Unleashed

Demand forecasting and planning sounds like a complex task requiring input from a team of accountants and economists but, in reality, it’s an easy way to improve your inventory control. In simple terms, demand forecasting uses supply chain information to plan the levels of stock needed to meet expected demand which gives greater inventory control to the supplier. A holistic approach to inventory control. Anticipatory Inventory Could be the Answer.

The Ongoing Evolution of Inventory Control

Unleashed

Prior to the industrial revolution, inventory control was all but not existent. Or perhaps they wrote down all sales and deducted the transactions from the inventory quantities they presumed they had. These were passed to employees in the storeroom, who would present the items to the front counter for the customer. Managers could then record inventory stock and sales data. Barcodes for inventory control. The evolution of inventory control.

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.

Accurate Inventory Forecasting, No Crystal Ball Needed

Unleashed

Proper demand forecasting and inventory control can save a company from buying too much or too little of something, which of course avoids expensive overstock scenarios or stockouts. Accuracy and the ability to capitalise on forecasts will depend on the success of a company’s inventory control practices and ability to understand itself and its market. The only way to accurately predict future inventory demand is to use accurate, timely data.

What Does IoT Mean for Inventory Management?

Unleashed

The dawn of the Internet of Things (IoT) is upon us and it is set to revolutionise many industries including inventory management. However, before we can understand how inventory management will be affected by IoT and how we can optimise this, we must first understand what exactly it is. So, what does this mean for inventory management and supply chains? Of course, the more components present, the more difficult it is to streamline the process for optimum efficiency.

The Past, Present, and Future of Technology in the Warehouse

Logistics Bureau

Even now, in our less labour-intensive warehouse environments , technological progress continues to disrupt and transform the way we manage inventory storage and throughput. Improved inventory management. Imagine stepping back in time to visit a large warehousing operation in 1990.

Inventory Optimization Maturity Curve: A Walkthrough

Logility

As I talk to customers and practitioners from all corners of the supply chain world, I find that Inventory Optimization has different meanings between companies, departments and even people within the same organization.

Inventory forecasting and replenishment in an omni-channel world

Cognira

Inventory forecasting and replenishment in an omni-channel world Introduction Omni-channel retailing has changed the entire nature of inventory demand. Customers select from the available delivery and inventory options, but, their final selection may not reflect their first choice, ie.

Inventory Optimization Maturity Curve: A Walkthrough

Logility

As I talk to customers and practitioners from all corners of the supply chain world, I find that Inventory Optimization has different meanings between companies, departments and even people within the same organization.

Inventory Optimization Maturity Curve: A Walkthrough

Logility

As I talk to customers and practitioners from all corners of the supply chain world, I find that Inventory Optimization has different meanings between companies, departments and even people within the same organization.

What is Web Based Inventory Management Software?

EMERGE App

You run a lean business model with minimal overheads and using web-based inventory management software plays a big part in this. And you expect the same standard for inventory management software. What to Expect from Web-Based Inventory Management Software. Introduction.

A Quick Method for Assessing Inventory Health

ToolsGroup

Last week we discussed a Gartner framework for gauging inventory health, but noted that the Inventory Quality Ratio (IQR) could take a while to implement ( Click here to read last week’s blog). This is different than traditional ABC inventory classification (to see why, see this blog ).

Financial Benchmarking for Inventory Turns and Working Capital

Arkieva

Using so called orbit charts, we have benchmarked companies on EBIT% versus Inventory Turns. That benchmark helped to reveal the ‘best practice frontier’, which in turn helped in setting aggressive but aligned targets for EBIT% versus Inventory Turns.

4 Ways Big Data is Changing Inventory Management

EazyStock

High data volumes present the biggest challenge to conventional IT structures since on-premise solutions typically do not have the capacity to manage large datasets. This information may include inventory levels, customer information, sales and other basic data that can be moved onto one file.

How AI Solves the Riddles of Inventory Management

Aera Technology

by Kaushal Dave, Vice President of Cognitive (AI) Solutions, Aera Technology The problems that pervade inventory management are well known: Excess inventory languished in warehouses, tying up millions of dollars in working capital. How can we best manage expiring inventory?

Back to Supply Chain Basics: Transforming Inventory

DSI

And when today’s consumer expects full visibility into where their product is—until the moment it reaches their front door—inventory management grows in complexity. In my last post, I paraphrased “Bull Durham” to boil down supply chain to its simplest parts: You buy the inventory. You transform the inventory. You sell and service the inventory. We’ve covered the first stage, buying inventory, and how greater visibility can prevent rework, downtime and returns.

WooCommerce and Inventory Management Software

EMERGE App

Then we’ll examine why you need a robust inventory management system behind WooCommerce. We’ll move on to present EMERGE App as an inventory management solution and the benefits of them working together. EMERGE App is one such add-on for inventory management.

Sales, Inventory & Operations Planning (SiOP) – Part Five

Arkieva

Last time in Sales, Inventory & Operations Planning (SiOP) – Part Four I talked about the Supply step of the cross-functional process of SiOP. Make sure you have the KPI’s and the reports, but start your preparation by putting them into the appendix of your presentation.

Presenting: The Warehouse Capacity Economics and Trends Survey

FLEXE

<p>Every day people come to FLEXE because they either have more inventory than they have space, or more space than they have inventory. As a result, we hear a lot of stories about capacity, inventory peaks and the search for the ideal extra space. For those with extra inventory, there were more solutions cited.