The Inventory Accuracy “Confidence Gap”

Talking Logistics

The research focused on the inventory visibility and optimization challenges that companies face today related to omni-channel fulfillment and the actions they should take to elevate their omni-channel performance. And it begins with improving their inventory accuracy.

Business Intelligence vs. Inventory Optimization: Are You Solving Symptoms Instead of the Real Problem?

ToolsGroup

In my decades of working in replenishment and inventory optimization, I’ve noticed that many companies seek solutions to symptoms rather than the underlying problem. They want to have an aging report for inventory or a report on vendor performance.

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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. Optimized Inventory Builds Credibility.

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. A recent IHL research report entitled $1.75 For example, say you have $5,000,000 of inventory at cost on hand.

How to Measure Inventory Health

ToolsGroup

Financial executives measure inventory health with metrics like inventory turns because they view the firm from a financial viewpoint - such as how much working capital is being tied up. The concept of inventory health is based on this expectation.

Calculating Finished Goods Inventory

EMERGE App

As a manufacturer of goods, you’re likely to have finished goods inventory in your business. In addition to worrying about sales forecasts and production schedules, there’s also the issue of properly calculating finished inventory for reporting and decision-making purposes.

Five Things You Need to Know about Inventory Optimization in the Digital Age

ToolsGroup

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.

Seven Misconceptions on Managing Inventory in a Market-Driven World

Supply Chain Shaman

When it comes to the management of inventory in value chains, frustration abounds. Executive, after executive, lament, “They have purchased many technologies and sponsored many projects to reduce inventories, but they are not seeing results.”

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.)

The Best Way to Set Inventory Targets?

ToolsGroup

Source: Gartner, Cover Considerations—How to Optimize Retail and Consumer Product Inventory Targets, 2017. But I have to differ with the conclusions of a recent report, “ Cover Considerations — How to Optimize Retail and Consumer Product Inventory Targets.”.

Inventory Management: Technology Enablers

Kinaxis

by Andrew Dunbar The modern day inventory manager described in this series is the backbone of your company’s inventory planning process. It should be up-to-date (daily at a minimum), and include all the input data required to make your inventory planning decisions.

Omni-Channel Logistics Leaders: The Importance of Real-Time Inventory Visibility

Talking Logistics

The research focused on the inventory visibility and optimization challenges that companies face today related to omni-channel fulfillment and the actions they should take to elevate their omni-channel performance. You can read and download the full report at [link].

Three Key Themes in the New Inventory Optimization Vendor Ranking

ToolsGroup

The 2018 Nucleus Research Inventory Optimization (IO) Value Matrix Report has just been released, and analyst Seth Lippincott identifies the latest technology trends, top inventory optimization solution providers, and the strengths and weaknesses of each vendor.

Inventory Obsolescence: It Can Get Complicated

ToolsGroup

The knack in today’s innovation economy is to understand how the value of a particular SKU deteriorates or its costs increase so that profit erosion can be factored into inventory optimization calculations. But correctly modeling inventory obsolescence is important.

When is Inventory Too “Lean”? Finding the Right Balance

ToolsGroup

But we have also seen companies misinterpret the lean message when it comes to inventory. It's good to trim bloated inventory and free up working capital. But inventory optimization can actually contribute to a lean environment.

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What’s New in Inventory Optimization?

ToolsGroup

Principal Analyst James Cooke of Nucleus Research just published his 2016 Inventory Optimization Value Matrix which highlights this year’s key trends, including functionality and usability. He reiterates why his firm sees inventory optimization (IO) solutions as so important.

Inventory Management Techniques That You Need to Know About

EMERGE App

Not Another List of Inventory Management Techniques. I want to start by saying that this is not an exhaustive list of all the possible inventory management techniques available for all industries. What Should You Care About Inventory Management?

With Tariffs In Flux, Digital Inventory Technology Might Be The Solution To Holiday Bloated Inventory Levels

Talking Logistics

The tariff situation has companies in a quandary as they debate whether to “load up” on inventory now — to ward off the impacts of potentially-higher tariffs on imported goods — or hold off for now and hope that the political environment calms and things get to back to “normal.”

Inventory Reporting: Creating a Great Business Report

Unleashed

Great business reports need to be clear and well-structured. Before writing your report, you need to be clear on your brief, who the report is being written for and why. Business report structure. Any great business report should start with an executive summary, which effectively provides busy decision-makers with a quick summary of the contents of the report. Inventory reporting. Online inventory management.

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.

Digital Inventory Management Key Battleground in Transformation of Brick-and-Mortar Retail

Cerasis

As e-commerce growth accelerates, shippers are working overtime to manage available inventory. It catalyzed brick-and-mortar retailers to offer online shopping opportunities, which require much more than manual inventory management practices.

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 ?

Survey Results: Strategies for Inventory Optimization

E2open

Inventory management is a key contributor to the bottom line for every company with a supply chain. Clear visibility to all inventory in all locations eludes many companies, leading to inaccurate inventory forecasting and costly expedites, among other problems.

Inventory Management Remains Challenging

Enterra Insights

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. It’s little wonder inventory management systems have gained popularity. ”[1] He adds, “Even with all this power, there are several disadvantages to inventory control worth considering.”

5 Ways to Reduce Your Inventory the Right Way

EMERGE App

Here, we’ll start by covering what reducing your inventory means. Then we’ll summarise some inventory holding costs that you might not know about. Finally, we’ll cover 5 ways that you can take to sensibly reduce your inventory now. Set Inventory Reorder Points.

Nucleus Research: Inventory Optimization Value Matrix

E2open

Inventory optimization solutions are a key lever which can enable companies to streamline operations while maintaining service levels and freeing up working capital. The post Nucleus Research: Inventory Optimization Value Matrix appeared first on E2open® | Demand.

MHI to preview new report on next-generation supply chains during ProMat Keynote

PINC

MHI will preview the 2017 Annual Industry Report- Next-Generation Supply Chains: Digital, On-Demand and Always-On during the April 5 Keynote at ProMat. yard management supply chain logistics innovation drones inventory robotics ProMat

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Overcoming Retailers Delivery Requirements with Data Reporting

Transplace

Overcoming Retailers Delivery Requirements with Data Reporting . This next-gen inventory strategy has put pressure on businesses to meet growing consumer demands by having products where and when they want them. By: Mark McEntire, Senior Vice President of Operations, Transplace.

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. The rise in e-commerce has caused a dramatic surge in the demand for industrial real estate,” The Real Deal reports. Phillips writes in Swamped With Inventory, U.S.

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. Diverse Inventory Technology Grows Focused on Specific Niches.

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.

Inventory Checks Powered By Drones

Talking Logistics

Drones are enabling organizations to use employees more efficiently and improve inventory accuracy in a world where consumers want everything cheap and now. Every company on the planet that has a significant supply chain operation is plagued by inventory reconciliation problems.

The Supply Chain Detective™ and the Inventory Turnover Mystery!

Supply Chain Game Changer

Featuring Our 10 Best Inventory Management Articles! As I settled into the job and started learning, and studying, the various Supply Chain metrics I was surprised when I looked at the Inventory Turnover performance of the company. The Inventory Turnover Mystery had been solved!

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.

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.

Performance Reporting and the Operational Restructuring Process

Silvon Software

How Does Performance Reporting Come Into Play? Rapid plant improvement / turnaround: Operational performance reporting can also help manufacturing organizations better assess, valuate and prioritize risks and opportunities relative to production execution.

Why Sales Reports are Important to Inventory Management

Unleashed

When managing your inventory, you are always looking for ways to optimise and improve your operations. Trying to keep healthy levels of inventory without overstocking or understocking is a difficult practice that most inventory businesses experience. Having inventory stock go in either direction can be a costly exercise. If you can’t sell off that inventory stock, then was it really worth getting the bargain? Why should your business generate sales reports?