Enterra Insights

APRIL 13, 2023

Although the economy has proved remarkably resilient, there are so many unknowns at play that no one can predict what future economic conditions might be. Having said that, few if any economists are predicting a bright, short-term future. Customers are in control, and retailers who fail to accurately predict demand are doomed to fail.”

Retail 130

Retail Price Reduction Supply Chain Planning Software ToolsGroup 130

ToolsGroup

APRIL 3, 2023

Sahil Gupta , Chief Product Officer at ToolsGroup, shares the most important insights and takeaways from this year’s ShopTalk conference. After four days of retail insights focused on the trends, business models, and technologies that are shaping the future of retail, ShopTalk 2023 has closed a successful and illuminating conference.

Inventory Reduction 156

Inventory Reduction Price Reduction Supply Chain Planning Software Forecasting Software 156

ToolsGroup

NOVEMBER 4, 2022

Excess inventory – it’s taking up your warehouse space, tying up working capital, and limiting your planning team’s range of motion. It’s time to Marie Kondo your supply chain by eliminating excess inventory and learning how to avoid it in the first place. Let’s talk about: What Excess Inventory Is. What Causes Excess Inventory.

Inventory Reduction 156

Inventory Reduction Material Savings Cost Reduction Strategies Inventory 156

ToolsGroup

OCTOBER 25, 2022

More than ever, seasonal inventory needs to be carefully accounted for during the demand forecasting and inventory planning process , ensuring right-sized inventory that can meet customer expectations while limiting the spend and use of working capital. Benefits of Effective Seasonal Inventory Management.

Inventory Reduction 156

Inventory Reduction Inventory Optimal Sourcing Supply and Demand 156

ToolsGroup

FEBRUARY 18, 2022

By this stage in the pandemic, most of us have felt the effects of a globally disrupted supply chain and inventory shortages in some way or another. Poultry Prices Are Up in the Face of Low Inventory Levels. If you can’t find individual chicken cuts, try purchasing a whole chicken instead (many are already doing this in Australia).

Purchasing Skills 386

Purchasing Skills Price Reduction Supply Chain Planning Software Inventory Reduction 386

ToolsGroup

MARCH 1, 2018

The traditional merchandise planning model consists of deciding what to carry and then calculating what will sell. But omnichannel retail is causing retailers to revisit practices like this and explore a new approach that flips the sequence, using analytics to first determine what is likelier to sell, then deciding what to carry.

Inventory Reduction 189

Inventory Reduction Retail Inventory Supply Chain Planning Software 189

Enterra Insights

DECEMBER 4, 2019

It’s still important, but Lauren Thomas ( @laurenthomas ) reports, “Coresight Research … says the holiday season is becoming ‘less important’ for retailers, with more shopping taking place online throughout the year. As Thomas pointed out, inventory management is especially critical during the holiday season.

Procurement Solutions 100

Procurement Solutions Eliminating Excel in Purchasing Purchasing Skills Procurement Analytics 100

Enterra Insights

JUNE 11, 2019

Every business person who deals with inventory management is involved in a balancing act. Keep too little inventory on hand and you risk losing sales and, on occasion, customers. Keep too much inventory on hand and the costs add up resulting in lower profits. And it begins with improving their inventory accuracy.”[2].

Inventory Management Software 100

Inventory Management Software Inventory Management Inventory Reduction Inventory 100

ToolsGroup

AUGUST 1, 2022

Retail returns occur when a customer returns the purchased items to a seller in exchange for a refund, store credit, or a similar product. Returns come with plenty of challenges around logistics, inventory, and predicting volatile sales trends. 84% of buyers read the return policy before making an online purchase.

Retail 296

Retail Optimal Sourcing Purchasing Skills Procurement Solutions 296

ToolsGroup

MARCH 3, 2021

When you’re perusing luxury handbags online, or testing which cocktail dress suits you the best, you probably don’t pause to consider all the supply chain complexities and analytics required to ensure the fashion items you’re craving are in-stock. shorter product life cycles, and often protracted supply lead times. 1) [link]. (2)

Supply and Demand 296

Supply and Demand Modeling Demand Planning Supply Chain Planning Software 296

ToolsGroup

OCTOBER 3, 2022

With reports of retail layoffs and overstaffing at companies (such as Walmart and Amazon) to cover Omicron-related staffing shortages, it would appear the shortage of workers may be abating. As per a recent report by CNBC , the labor department in the United States has 5.5 The risks surrounding the retail labor shortage aren’t new.

Optimal Sourcing 156

Optimal Sourcing Retail Purchasing Skills Inventory Reduction 156

ToolsGroup

AUGUST 12, 2022

With Google reporting that omnichannel shoppers have a lifetime value that is 30% higher than those who only shop via one channel, getting your omnichannel strategy right is critical to creating a customer experience that drives profitability. . Inventory Visibility. Buy online and return in-store (BORIS).

Omnichannel 156

Omnichannel Optimal Sourcing Supply Chain Planning Software Inventory Reduction 156

ToolsGroup

JUNE 11, 2019

With all the buzz around digital transformation, someone peering in from outside supply chain may assume most businesses have already digitized essential tasks like inventory planning. This article will share five things you need to know about optimizing inventory in the digital age.

Optimization Software 244

Optimization Software Supply Chain Optimization Supply Chain Planning Software Network Optimization 244

ToolsGroup

JULY 21, 2020

A joint initiative focused on guaranteeing the availability of testing swabs through machine learning-powered demand modeling and forecasting. COPAN will implement ToolsGroup’s machine learning-augmented supply chain planning software to guarantee the availability of critical products like specimen collection devices. About ToolsGroup.

ToolsGroup 31

ToolsGroup Supply Chain Planning Software Supply Chain Software Modeling 31

ToolsGroup

JANUARY 25, 2022

In his opening keynote address, Target CEO Brian Cornell said the supply chain crisis necessitates greater data transparency and analytics to win in the short term. A session highlighting women in the retail workforce cited that around 85% of retail purchases are made by women, but men are still the clear majority of NRF attendees.

Waste Reduction 294

Waste Reduction Vendor Strategies Price Reduction Inventory Reduction 294

ToolsGroup

SEPTEMBER 22, 2020

Surveys have shown that consumers are 71% more likely to make a purchase based on social media referrals, and 47% of millennials’ purchases are influenced by social media1. That means there are many companies out there struggling to make sense of constantly shifting demand data and to make smart inventory optimization decisions.

Supply and Demand 156

Supply and Demand Gartner Supply Chain Design Software Supply Chain Planning Software 156

ToolsGroup

NOVEMBER 23, 2021

The following strategies, based on data, analytics, and collaboration, are helping planners around the globe overcome a disrupted supply chain. Use analytics to put your available inventory to the best use. Chances are you do have some inventory–make sure it’s being put to the best use with automation and data analytics.

Supply Chain Planning Software 291

Supply Chain Planning Software Scenario Planning Inventory Reduction Supply Chain Software 291

ToolsGroup

FEBRUARY 5, 2019

Gartner analyst Paul Lord has developed a framework to better understand inventory trade-offs by categorizing those decisions according to the objectives they are meant to achieve: structural, operational and situational. Many companies struggle with decisions such as “How many days of sales or inventory turns per year should we target?

Supply Chain Design Software 120

Supply Chain Design Software Optimal Sourcing Supply Chain Design Inventory Reduction 120

ToolsGroup

APRIL 1, 2022

Such measures include communicating with suppliers and customers , using demand shaping to overcome inventory shortages, seeking additional suppliers, and building more onshore facilities. 82% of people have concerns that the supply chain will ruin life plans, such as birthdays, vacations, holidays, and the purchasing of necessary items.

Material Savings 207

Material Savings Purchasing Skills Supply Chain Planning Software Manufacturing Procurement 207

ToolsGroup

DECEMBER 16, 2021

With the advent of globalization, the Internet, and more recently, the proliferation of mobile technology into every aspect of our lives, there has been a remarkable shift in the world of retail from a product-centric to customer-centric model. Inventory is retailers’ greatest asset AND liability. Retailers are losing $1.75

Agile and Lean Supply Chain 156

Agile and Lean Supply Chain Lean Retail Supply Chain Planning Software 156

ToolsGroup

SEPTEMBER 20, 2022

Using this data, advanced predictive models can estimate when failures are likely to occur and recommend appropriate timelines to perform corrective measures, allowing manufacturers to organize their production schedules based on predicted equipment availability metrics. Optimize spare part inventories.

Manufacturing Procurement 156

Manufacturing Procurement Supply Chain Design Software Optimal Sourcing Supply Chain Planning Software 156

ToolsGroup

FEBRUARY 7, 2022

Love it or hate it, daily necessities need to be purchased. When looking at global online sales, Salesforce reports 57% digital growth in 2020, and 16% growth in 2021, with eMarketer data predicting a continued increase through 2025. eCommerce Purchases and “The New Normal” Retail Categories. Data source: eMarketer.

Supply Chain Planning Software 177

Supply Chain Planning Software Trends Retail Forecasting Software 177

ToolsGroup

JULY 10, 2018

Computing power and storage capacity have grown exponentially, while the cost of both have plummeted. More and better data has turned demand analytics into mainstream reality. Demand signals can include downstream demand such as “sell out” or POS data and downstream inventory levels. Let’s take a few minutes to decode it.

Supply and Demand 192

Supply and Demand Demand Planning Software Forecasting Forecasting Software 192

ToolsGroup

DECEMBER 16, 2021

By understanding inventory needs from a financial perspective, including revenue and margin, retailers gain insight into their open-to-buy process and, as part of their merchandise financial planning, ensure the organization will not overspend merchandising budgets. Improve Inventory Flexibility. What is an open-to-buy ?

Supply Chain Planning Software 156

Supply Chain Planning Software Retail Supply Chain Planning Scenario Planning 156

ToolsGroup

MAY 11, 2020

Balancing high service levels with inventory. The company needed to raise its service levels while maintaining or reducing its available inventory. The company’s system and processes involved a cumbersome, time-consuming process which required a planner to compile a purchase order manually. Lacking the right tools for the job.

Supply Chain Planning Software 156

Supply Chain Planning Software Forecasting Software Supply Chain Planning Procurement Solutions 156

ToolsGroup

DECEMBER 11, 2023

Since the start of the Covid-19 pandemic, 79% of consumers have indicated that they are looking for more bargains than before, and 46% say they are willing to wait to purchase at a better price “no matter how long it takes”. This is especially true in a challenging economy. Markdowns have almost single-handedly ruined [the fashion] industry.

Price Reduction 156

Price Reduction Pricing Training Modeling Inventory Reduction 156

ToolsGroup

MAY 24, 2017

In a report entitled Market Guide for Retail Forecasting and Replenishment Solutions , Gartner analyst Mike Griswold spotlights seven recent trends in this area. 1/ Multichannel retailing is requiring inventory positioning in more locations than ever before and causing retailers to focus on “bottom up” forecasting , says Griswold.

Forecasting 202

Forecasting Forecasting Software Demand Planning Software Modeling 202

ToolsGroup

DECEMBER 16, 2021

After all, why pay full price when you can purchase the exact same item for less? Promotions influence both in-store and online purchases. Promotions triggered in-store purchases for 91 percent of shoppers who use in-store promotions.” – Retailmenot, Inc. The Top 20 Retail Promotion Statistics.

Retail 194

Retail Purchasing Skills Procurement Solutions Procurement Analytics 194

Enterra Insights

NOVEMBER 19, 2019

Jeff Bodenstab, Marketing Vice President at ToolsGroup, asserts, “This model has withstood the test of time in depicting what highly evolved planning looks like. ”[1]. ” Asena Yosun Denizeri, Senior Director of Retail Solutions at Solvoyo, appears to agree with Bodenstab. Concluding thoughts.

Supply Chain Planning Software 100

Supply Chain Planning Software Supply Chain Planning Gartner Scenario Planning 100

Supply Chain Shaman

NOVEMBER 3, 2015

The purchase of Barloworld gives LLamasoft a strong presence in the United Kingdom, and a team on the European continent. The Acquisition Is a Mixed Bag for the Inventory Management Market. The LogicTools product was stronger in the delivery of network design than inventory optimization. I mpact #2. Market Confusion.

Supply Chain Design Software 0

Supply Chain Design Software Supply Chain Planning Software Network Design Software Supply Chain Software 0

ToolsGroup

SEPTEMBER 13, 2016

Today’s blog analyzes how to compete in this multichannel environment that requires serving the customer in ways that remove the barriers that make consumers think twice about making the purchase. And Gartner reports that more than half of supply chain executives say they are increasing their investment in analytics and smarter algorithms.

Supply Chain Software 120

Supply Chain Software Optimal Sourcing Supply Chain Planning Software Modeling 120

ToolsGroup

DECEMBER 14, 2021

Supply Chain Shortages Impacted Consumer Purchases. Maybe its digital-only design fit more with the purchase activities of tweens and young adults everywhere. Given inventory challenges, retailers played their part in this trend, encouraging consumers to buy before Black Friday deals began. The Nintendo Switch? year over year.

Retail 156

Retail Supply Chain Planning Software Supply Chain Design Software Purchasing Skills 156

ToolsGroup

JULY 10, 2018

Computing power and storage capacity have grown exponentially, while the cost of both have plummeted. More and better data has turned demand analytics into mainstream reality. Demand signals can include downstream demand such as “sell out” or POS data and downstream inventory levels. Let’s take a few minutes to decode it.

Supply and Demand 120

Supply and Demand Demand Planning Software Forecasting Forecasting Software 120

Supply Chain Shaman

SEPTEMBER 13, 2016

These architectures are evolving and will be deeply rooted in the evolution of prescriptive and cognitive analytics. Enterra Solutions announced a partnership with Cap Gemini and ToolsGroup announced the release of a software solution for the self-correcting supply chain with a focus on cleaning data and detecting anomalies.)

Supply Chain Planning Software 195

Supply Chain Planning Software Supply Chain Design Software Supply Chain Software Prescriptive Analytics Software 195

Supply Chain Shaman

SEPTEMBER 24, 2018

They center on how to make a good decision in the purchase of supply chain planning solutions. Most have purchased software, but are dependent on Excel spreadsheets. Sadly, only 7% of companies test before purchase. ” There is a belief that the purchase from an ERP solution provider improves integration.

Supply Chain Planning Software 228

Supply Chain Planning Software Supply Chain Design Software Supply Chain Planning Supply Chain Software 228

Supply Chain Shaman

MAY 5, 2017

This ended when Gartner purchased AMR Research in 2010. Since I do not believe in the Gartner business model, I left. I also believe that forecasting plays a vital role in determining the rules for inventory buffers, driving market-to-market orchestration, and defining the principles for network design. Reflections.

Supply and Demand 169

Supply and Demand Modeling Demand Planning Software Supply Chain Planning Software 169

ToolsGroup

AUGUST 18, 2022

From digitalization and changing workforces to trend reversals and inventory overloads, distributors have their hands full when it comes to tackling the latest supply chain challenges. Inventory: In the US, inventory (coupled with accounts receivable and accounts payable) has tied up $1.1

Optimization Software 156

Optimization Software Modeling Supply Chain Planning Software Supply Chain Optimization 156