Using Technology to Improve Inventory Management

Cerasis

Using technology in the warehouse is one of the most effective ways to improve inventory management and reduce returns. Since returns represent a significant cost to companies, it is imperative for retailers to take steps to improve inventory management and manage returns.

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.

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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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.

Your Supply Chain Probably Has a Data Problem - Start There

Supply chain visibility gives a clear view of inventory and the. activities involved in the transport of that inventory. The first challenge all shippers, including retailers, manufacturers, and 3PLs.

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.

The Next Big Thing in Inventory Optimization and Why You Need It

River Logic

These figures show that efforts at inventory optimization aren't bearing fruit as retailers grapple with the conflicting demands of omni channel retailing and, more recently, the unpredictability posed by trade wars and other global disruptions.

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.

Best Practice Inventory Control Techniques for Online Retailers

Unleashed

Successful inventory control enables retailers to meet customer demand by avoiding stockouts and reducing the risk of overstocking to free-up cashflow. It is crucial in the world of eCommerce, for even the smallest online retailer to have effective inventory control. Following are best practice inventory control techniques to help online retailers maintain control over their stock: ABC analysis. Inventory optimisation.

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.

Automated Order Processing and Proactive Inventory Management

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

Retail Inventory Shrinkage Remains a Problem

Enterra Insights

Retail Shrinkage is a serious retail challenge, especially when its causes can’t be accurately determined. For the last few years, inventory shrinkage has annually cost U.S. retailers just under $50 billion combined. Paul Trujillo ( @TruPaultx ), a Product Marketing Manager at Informatics, reports, “According to the National Retail Federation, there are five main ways for your supply to disappear.”[1] Inventory shrinkage strategies.

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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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.

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.

End to End Supply Chain Visibility - Solving The Data Problem

Retailers and manufacturers. inventory more clearly, you can see. of that journey is the port, when actually, for the retailer, it's their distr ibution center. inventory. that has long plagued retailers, manufacturers and 3PLs-- leveraging a.

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.

Inventory Allocation: How Retailers Can Find the Perfect Balance

Slimstock

Retailers face a real conundrum. On one hand, everything from the costs of raw materials to commercial retail space is always getting more expensive. Inventory Allocation Explained – Why You Need a Strategy. Inventory Allocation Rules: What Parameter Should Be in Place?

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.

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.

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

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.

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.”.

Retail Compliance Programs: How to Exceed Retailer Expectations

CH Robinson Transportfolio

The retail industry is evolving and adapting to new consumer demands which is shifting the supply chain landscape. Retailers expect more supply chain visibility, shorter delivery times, and real-time connectivity from shippers and carriers. Inventory management .

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.”

Legacy Retailers Taking the Fight to the Internet Retailers

Logistics Trends and Insights

You could not have missed the recent tit-for-tat announcements from the big brick and mortar retailers, like Walmart and Target. So in this edition of Point and Counterpoint, Dean and I will take a look at the latest news, the impact on retail and how the sector is responding.

More Inventory, Less Warehouse Space: How Virtual Inventory Works

PLS Logistics

They want to order from anywhere, at any time - these empowered shoppers have changed fulfillment and transportation in retail supply chains. To enhance the customer’s shopping experience, retailers are building virtual inventories. Inventory Transportation Spend

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?

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 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.”

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.

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.).

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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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 Inventory Optimization a Key to Omnichannel Survival?

ToolsGroup

For multi-channel retailers, it’s getting increasingly difficult to survive in “the Amazon jungle”. As Amazon invests relentlessly to boost its agility and drop its costs, retailers are also looking for ways to raise their game. Inventory Optimization Multichannel

Inventory and forecast data from retailers: After your product ships (Part 2)

Alloy

Part 1 of this series highlighted four of the most important retailer data points that suppliers need to maintain an efficient supply chain and maximize sales opportunities: Unit Sales (Net), Dollar Sales (Net), Price, and Retailer COGS.

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