Transportation Sourcing in an Omni-channel World

Talking Logistics

Omni-channel is transforming retail transportation’s supply chain and logistics processes. Unfortunately, many retailers are jumping in without a plan — that is, they are taking a short-term, silo’ed approach to transportation sourcing and execution, and as a result, are failing to meet their desired outcomes. But what are some of the unintended consequences retailers are experiencing by jumping in without a plan?

What Happens to Retail in Fall 2020?

Logility

As retail companies enter the traditional “back-to-school” selling season, we must acknowledge there is nothing traditional about BTS 2020. Organizations across the world have been forced to pivot selling and inventory strategies to address the many issues brought on by Covid-19.

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COVID-19: Implications on inventory planning, sourcing and procurement

EFT

It has been a huge challenge to understand what is changing moment-to-moment, let alone predicting what will happen, so eft by Reuters sat down in a webinar with experts working at the coalface of inventory planning and distribution to understand what can be done to survive and thrive. However, there has been a “50%” rise “in food and beverage essentials” for the retail giant, which has meant a huge reorientation in purchasing and demand planning.

The Inventory Accuracy “Confidence Gap”

Talking Logistics

Note: The following is an excerpt from “ Omni-Channel Logistics Leaders: 5 Key Insights to Improve Inventory Performance for 2019 ,” based on research conducted by Adelante SCM and LEGACY Supply Chain Services with input from nearly 100 supply chain professionals from retail, manufacturing, and logistics service providers companies in the United States and Canada. And it begins with improving their inventory accuracy. The Inventory Accuracy “Confidence Gap”.

What is Inventory Shrinkage?

Supply Chain Game Changer

Featuring Our 10 Best Inventory Management Articles! Inventory Shrinkage article and permission to publish here provided by Jake Rheude at redstagfulfillment.com. There are many terms for inventory shrinkage: warehouse shrinkage, product shrinkage, loss of product.

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.

Is Supply Chain “The” Source of Greater Economic Stability?

Logistics Viewpoints

I thought about the transition from “push” processes to greater use of demand pull in replenishment; how retailers are sharing downstream POS data with their suppliers to develop a more efficient supply network; how multi-echelon inventory optimization […]. Inventory Management Production Statistics Supply Chain PlanningOn Saturday I engaged in a rare weekend activity for myself – I actually thought about supply chain.

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.”. In their report, Gartner has correctly identified the complexities of setting optimized inventory targets, but I would argue that they haven’t proposed the best way to solve it.

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. By leveraging well-implemented bricks-and-clicks business models, these larger retailers can maximize their reach. General News Supply chain management fast fashion retail supply chain

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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. Interestingly, he notes that while most companies justify inventory optimization based on inventory savings, improving service to customers is actually the biggest motivation and payback in most projects.

5 Tips to Improve Omnichannel Inventory Management

Unleashed

That includes the importance of robust inventory management to retail. Ensuring you don’t fail at order fulfilment begins with understanding your inventory and supply chain. In an increasingly complex eCommerce world, keeping track of inventory is tricky. Many brands are turning to omnichannel inventory management to meet the challenge. We’re going to share five tips to help you make omnichannel inventory work for you. Image Source: Fit Small Business.

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 Management is a function that should always be in sync with your supply chain strategy and in turn depends on your overall business strategy. What does it mean for inventory?

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

Talking Logistics

Note: The following is an excerpt from “ Omni-Channel Logistics Leaders: Top 5 Inventory Insights ,” based on research conducted by Adelante SCM and LEGACY Supply Chain Services with input from nearly 100 supply chain professionals from retail, manufacturing, and logistics service providers companies in the United States and Canada. Source: “Omni-Channel Logistics Leaders: Top 5 Inventory Insights,” Adelante SCM & LEGACY SCS.

Solving Traditional Inventory Challenges with Online Inventory Control

Unleashed

Factors affecting inventory managament are becoming equally complex with multifaceted supply chains and vast networks of manufacturers, suppliers, distributors, wholesalers and retailers from which to source, distribute and sell products. Factors affecting inventory control. Inventory stock challenges range from longer, less reliable lead times to difficulty tracking inventory along the supply chain and across multiple warehouses.

Improving inventory management

EFT

What’s more plenty on the retail side have found themselves with held inventory but it suddenly locked away in stores that people could no longer frequent, browse and shop from. In his opinion the way you do that is “By putting inventory close to customers.

The Internet of Things and the Retail Industry

C3 Solutions

This article is part of our Retail Program. Designed specifically to support global leaders by aiding in creating a strategic plan to help them win the retail game. The value of the IoT market in retail is predicted to jump from US$10 billion in 2017 to around $35 billion by 2024.

Supply Chain Retail Planning

o9 Solutions

Increase revenues, improve margins, and inventory productivity with next generation cloud software. Demand Forecasting & Supply Chain Planning E-commerce, micro-consumer segments and other market trends are pushing retail supply chains operating on old platforms and spreadsheets to the limits. o9 Solutions April 14, 2020 The post Supply Chain Retail Planning appeared first on o9 Solutions. Retail Planning Solutions

Locus Robotics at Retail Supply Chain Virtual

Locus Robotics

``We will define lasting change in the retail revolution.``. Join us at the Retail Supply Chain Virtual conference, August 20-21 2020, for this year’s most important retail logistics topics regarding the New Normal for e-commerce supply chains.

Fast Fashion's Inventory Woes: 3 Ways Retailers Can Stay in Business

Elementum

Since the 1990’s, when little-known clothing retailer Zara announced it could take a garment from concept to rack in just 15 days, “fast fashion” has captured the minds of consumers. However, this dynamic industry is now facing the same challenges as some traditional retailers —unsold inventory and profit losses. Inventory Woes. billion worth of unsold inventory. More retailers will probably adopt this strategy as two-hour delivery becomes the norm.

Retail market insights

o9 Solutions

Market & Consumer Insights Clustering and market Segmentation Size & Share by Segment Consumer Intelligence Competitive Intelligence Store Intelligence Key Risk & Opportunity Insights Tell us your most challenging retail use cases and experience it on o9’s platform Request a demo that will highlight the capabilities that matter to you First Name * Last Name * Email * Phone number Name This field is for validation purposes and should be left unchanged.

Solving Traditional Inventory Challenges with Online Inventory Control

Unleashed

Factors affecting inventory control are becoming equally complex with multifaceted supply chains and vast networks of manufacturers, suppliers, distributors, wholesalers and retailers from which to source, distribute and sell products. Factors affecting inventory management. Inventory stock challenges range from longer, less reliable lead times to difficulty tracking inventory along the supply chain and across multiple warehouses.

Five Tips on Sourcing Products From China

EMERGE App

Google a phrase like “sourcing products from China” and you’ll instantly be faced by almost 39 million results! You need to source for products to sell at wholesale prices to your retail customers. And the place to source for most, if not all, of your products is in China. This blog post doesn’t aim to be the ultimate guide to sourcing goods from China. I like to start with a broad-based search at Alibaba and Global Sources.

The Benefits of Evolved Vendor Managed Inventory Model Led by Web-Based VMI

Cerasis

So why do we feature content related to Vendor Managed Inventory? In a VMI model, part of the equation is the inbound & outbound flow of the inventory. Inventory is then put on pallets and shipped as freight. Distributors will inbound to a manufacturer the inventory needed and transportation management, especially inbound freight management, efficiency is paramount to an effective vendor managed inventory model. We never ran out of or had too much inventory.

Optimizing Inventory Management for Online Retail

RELEX Solutions

Online stores — whether for a pure e-commerce retailer or as part of an omnichannel operation — allow retailers to offer customers a vast assortment that simply can’t be rivaled by traditional brick and mortar locations. Online retailers aren’t even physically limited by warehouse space, as not all products need to be stored in their own warehouses. E-commerce inventory management should never be approached as a one-time or even as a periodic decision.

The Future of Retail Technology

Repl Group

Retail history is littered with has-been megastars. Keeping your ear to the ground and staying on the front foot of retail technology is key to survival. We share our views on the future of retail tech. How Changing Consumer Expectations Have Altered Retail. Rewind to 1850 and local shops and markets were the only retail option providing essential goods to people who lived nearby. As mass market retail took hold, shopping options expanded.

Sourcing Offices: a shift of paradigm

KEPLER Consulting

Over last decade, sourcing offices became a major piece within globalized footprint of western retailers. After a first era of development and opportunity catch up particularly positive and characterized by consistent purchasing gains , most of these Sourcing Offices are now searching for their second breath. Back to the origins, the Sourcing Offices have been developed by retailers for two main reasons: #1 Gather demands coming from various entities within a same group.

The View from Finance: Freeing Up Cash with Inventory Optimization

ToolsGroup

Inventory optimization is one proven way to do it. Inventory is an untapped, cash-rich asset. Most companies have some form of supply chain systems to manage inventory from production through delivery. Home Depot executives, speaking at an analyst meeting, once said that every 1/10th improvement in their inventory turns meant an additional $200 million in cash. Of course, you need inventory. Inventory is what you make, what you sell.

Why Large Companies Increasingly Opt for 4PL Services

Logistics Bureau

The key difference between the two can perhaps be explained in the following example: A 3PL provider working with a paint manufacturer may package and store products as well as transport them to retailers and/or customers. 3) Ecommerce and Multi-Channel Retail. Retail and consumer.

Why Inventory Revaluation Is Your Next Important Task

Unleashed

All product-based businesses need to track the value of their inventory – and this goes double in a period of dramatic upheaval. The value of your inventory has likely changed thanks to the Covid-19 crisis, and you should consider revaluing it before you make any major business decisions. What is inventory revaluation? Inventory revaluation is the adjustment of the costs of inventory to reflect changes in the recorded cost. Your inventory becomes obsolete.

Locus Robotics at Retail Supply Chain Virtual

Locus Robotics

``We will define lasting change in the retail revolution.``. Join us at the Retail Supply Chain Virtual conference, August 20-21 2020, for this year’s most important retail logistics topics regarding the New Normal for e-commerce supply chains.

Your supply chain is costing you money – Reason #6 Not effectively managing inventory.

Kinaxis

Reason #6 Not effectively managing inventory. Unfortunately, all the same kinds of things can happen to your supply chain inventory. Except that your inventory costs millions of dollars. Those of you that manage inventories know how hard it can be to get the quantities just right. If you maintain too little inventory, you have stockouts, line stoppages and unhappy customers. So what strategies are out there to maintain inventories at the “right” level?

Bad Retail is Dead — Long Live Retail

Enterra Insights

Brick-and-mortar retailers continue to declare bankruptcy at an alarming rate. Ben Unglesbee ( @Ben_RetailDive ) and Cara Salpini ( @CaraSalpini ) bluntly write, “Last year was a dismal one for certain retailers. Those ‘certain’ retailers include ones with a lot of debt, that depend on malls and whose business is especially susceptible to the explosion of Amazon online and off-price sellers in the physical world. Bad retail is dead.”[2].

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Modernizing the Retail Supply Chain

Enterra Insights

When most people think about the retail sector, they think about front-end selling. Without the back-end supply chain, however, retailers would have nothing to sell. Manufacturers would supply retailers, who would then resell the goods to consumers — therefore dealing with complaints or queries from the end consumer. 2] He writes, “Without a doubt, the biggest ongoing trend changing supply chain management is the retail convenience revolution.

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Fast Fashion's Inventory Woes: 3 Ways Retailers Can Stay in Business

Elementum

Since the 1990’s, when little-known clothing retailer Zara announced it could take a garment from concept to rack in just 15 days, “fast fashion” has captured the minds of consumers. However, this dynamic industry is now facing the same challenges as some traditional retailers —unsold inventory and profit losses. Inventory Woes. billion worth of unsold inventory. More retailers will probably adopt this strategy as two-hour delivery becomes the norm.

How to Move from Gartner Stage 2 to Stage 3 Retailing

ToolsGroup

Using the Gartner Demand Planning five stage maturity scale, analyst Mike Griswold estimated on a recent call that retailers as a group averaged just 2.3 leaving money on the table due to poor inventory performance. But, he says, with the right strategic plan, a retailer can make the jump to stage 3 supply chain planning, and greater profitability, in just 12-18 months. The outcome is creating an optimized inventory plan rather than just an inventory plan.

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