Smarter Inventory Management Will be One of the Key Competencies for Retailers in the Coming Year

Supply Chain Matters

While the nation’s retailers gather in New York City this week to attend the National Retail Federation’s 2019 Annual Conference, the Supply Chain Matters blog declares that inventory management will be one of the key competencies for retailers this year.

Three New Ways Retailers Can Improve Inventory Performance

ToolsGroup

Many retailers consider competing against Amazon their biggest challenge. While the impact of Amazon is real, it is only a thread in the larger retail competition tapestry. Here are three things that retailers can do to align strategy and execution.

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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.

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. Although e-commerce represents 10 percent of total retail sales, it has had an interesting effect. Use big data for simulations and modeling to understand inventory flow in brick-and-mortar.

Automated Order Processing and Proactive Inventory Management

Speaker: Irina Rosca, Director of Supply Chain Operations, Helix

Organizations need to focus on demand driven supply planning, utilizing real time information on customer orders from all marketplaces (e-commence, Amazon - or other online retailers, and point of sale data from brick and mortar).

Inventory Can Be Scary

ToolsGroup

“Your inventory problem is scary because you’re selling out before you can make new items to meet demand”. That’s what Robert Herjavec from the TV show Shark Tank said to an aspiring clothing retailer after their pitch in Season 8. Many retailers agree that inventory can be scary.

Inventory Management in Service Logistics Industry

Talking Logistics

What is Inventory Management? For Manufacturing it’s about carrying zero or minimum inventory. For Logistics the focus is on high inventory turns. Inventory Management is about having a right balance of expectations from different functions of the supply chain.

Lean Inventory: Using Lean Initiatives To Manage Inventory

Cerasis

What is Lean Inventory Management? More firms are implementing lean inventory management techniques to reduce costs, improve flexibility and have more time to focus on their customers. What is Lean Inventory Management? Attributes of Lean Inventory Management.

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Why Individual Retail Stores Shouldn’t Order Their Own Inventory

ToolsGroup

In the old days, each store knew best what inventory it needed to keep shelves stocked and customers satisfied. The digital communications company was manually planning inventory for products like smart phones and other gear that was growing overall at 60% annually.

Supplier Suspends Sales of Inventory to Major Retailer

Supply Chain Matters

Inventory Management Procurement and Sourcing Retail Supply Chain Supplier Management effects of elongated supplier payments Supply chain Matters blog trends towards supplier aggressivenessThis past August, this author penned a Supply Chain Matters blog commentary: The Newest Phase for Elongated Supplier Payments- More Aggressive Push Back.

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.

Another Optimistic Forecast for 2019 U.S. Retail Sales

Supply Chain Matters

The National Retail Federation is forecasting that U.S. retail sales for 2019 will increase between 3.9 Retail industry customer fulfillment and supply chain management teams should likely be preparing for another active year but with contingency planning in-place. retail sales.

Drone-Powered Digital Inventory

PINC YMS

Even though 90% of inventory is stationary in the supply chain, according to industry experts, inventory accuracy at distribution centers, warehouses, and plants ranges from 89% to 99% *. In retail stores, this number drops to below 60% **. That’s because most of the inventory management process is still a manual activity. innovation inventory robotics Logistics Viewpoints warehouse drones

Retail Inventory Management Tips to Get The Most Out of Your Warehouse

Cerasis

The wrong retail inventory management strategy increases carrying costs and makes it impossible to stay competitive. Common obstacles encountered when it comes to effective inventory management include having poor visibility into fast-moving versus slow-moving product, extensive travel times between bin locations, and lost revenue due to poor labor productivity. Count all physical inventory, using technology where possible.

Optimistic Retailers Feel the Pressure of Inventory Overhang- Who Will be the Winners?

Supply Chain Matters

We provide a contextual follow-up to our ongoing Supply Chain Matters observations and insights regarding the current holiday focused surge period among retail supply chains. This week, The Wall Street Journal observed (paid subscription required) that unsold goods and added inventories are piling up on retailer’s shelves possibly making it challenging for some retailers to […].

Fashion Retailers: Is inventory eating into your profits? (It is…)

Enchange Supply Chain Consultancy

CEO Inventory Management & Stock Control Supply Chain Analytics Integrated Business Planning retailI touched on the problem of expanding UK waistlines a few blogs ago and the topic popped up again recently when I was out and about shopping for clothes – no, not me.

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.”.

Editor’s Pick: The Ideal Inventory Optimization Approach for Omni-channel Retailers

Talking Logistics

In this post, Scott Fenwick, Manhattan Associates ’ senior director of product management, describes how to take inventory optimization in an omni-channel environment to the next level. Is there anything better for delighting customers than robust omni-channel retail experiences? There are many reasons why: When the distribution center (DC) is out of something displayed on the website, it can be fulfilled from store inventory.

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.

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.”

What is Inventory Carrying Cost?

EMERGE App

But while the newly arrived goods sit in your warehouse, did you know that there are also costs associated with keeping inventory? They are collectively called inventory carrying costs because they need to be paid to hold inventory. What is Inventory Carrying Cost?

Head Scratching Report on December 2018 U.S. Retail Sales

Supply Chain Matters

retail sales activity in the all-important month of December has a lot of heads scratching, including that of Supply Chain Matters. Commerce Department report on December retail sales at stores, online and at restaurants had reportedly declined a seasonally adjusted 1.2

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Report on Whole Foods Inventory Stockouts- Focus on the Implication vs. Symptoms

Supply Chain Matters

Supply Chain Matters comments on a published Business Insider report indicating a crisis of on-shelf availability of food items among Whole Foods retail outlets. The report is rather symptomatic of a challenge that many in grocery and retail online customer fulfillment need to tackle in the new retail model, which has other people, process and technology dimensions.

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Overstocks of U.S. Retail Inventories Spell Challenges for the Remainder of the Year

Supply Chain Matters

After many prominent retailers have formally reported their financial results for the first quarter, business and industry media have been quick to note that for the most part, U.S. retailers are facing a glut of existing unsold inventory. The exception is certain online retailers such as Amazon who have managed to post continued sales gains […].

Optimum Omnichannel Inventory Control

Unleashed

Omnichannel retail is certainly where it is at, however it is not without its own challenges which must be overcome for long-term business success. As with any retail company, inventory represents a large amount of tied up cash, or assets as it were, and if mismanaged, this can be a significant area for loss. Therefore, managing omnichannel inventory is extremely important for preserving the bottom line, increasing profits and keeping those shareholders happy.

Deliver On-Time and In-Full with a Retail Consolidation Program

Talking Logistics

The pace of change in today’s retail environment is faster than ever. E-commerce and shifting, more demanding consumer behaviors have led retailers to tighten requirements for shippers across the board. Penalties for late or partial shipments are steep and can make or break a shipper’s relationship with a retailer. Shippers can mitigate this challenge with a retail consolidation program. So what is a retail consolidation program? Retail consolidation programs.

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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.

Apparel and footwear: At what point is missed sales better than excess inventory?

Kinaxis

The CEO went on to imply that losing sales was preferable to building excess inventory. Shouldn’t it be ok to build inventory in anticipation of demand surges, and then apply promotions to work through the excess? by Harish Iyer.

NRF 2015: Big Data, Inventory Centralization, and the Cloud

Logistics Viewpoints

Business Intelligence Cloud/Software-as-a-Service Inventory Management Omni-channel logistics Replenishment Retail Supply Chain Planning Another year, another NRF Big Show in the books.

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. retail stores, eCommerce, etc.).

Retail supply chain management and the rise of fast fashion

Kinaxis

However, when it comes to the efficiency of today’s retail supply chain management techniques, controversy is replaced by admiration as international clothiers boast operations efficient enough to accurately anticipate demand in one of the world’s most rapidly changing industries.

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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?

The Role 3PLs and Value-Added Services Play in an Omni-Channel Retail Supply Chain

Logistics Viewpoints

In our world of technological innovation, the pressure to provide consumers with faster and more efficient levels of service is mounting, and retail manufacturers are feeling the impact.

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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.

Still managing your inventory with spreadsheets?

Brookes Supply Chain Planning Blog

In a digital world, it's amazing that many companies are still using Excel to manage their inventories. Supply Chain Insights’ 2018 Inventory Optimization Technologies Study suggests this number could be as high as 75%. inventory Demand Planning Forecasting retail