Inventory System Concern: Should Companies Always Maintain Peak Season Stock?

Cerasis

As reported by Supply Chain Dive, “2020 has been a slow year for retailers due to the COVID-19 pandemic, and the upcoming sales are a great opportunity to boost sales and make up for the.read More. The post Inventory System Concern: Should Companies Always Maintain Peak Season Stock?

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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 post Using Technology to Improve Inventory Management appeared first on Transportation Management Company | Cerasis.

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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. Better Inventory Management Needs Complete Control.

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. Amazon offers breadth, but brick and mortars offers “now”, and a tactile consumer shopping experience is still a retailer’s greatest asset. The ability to serve this demand is foundational to the success or failure of a retailer, but the challenge doesn’t hinge on the strategy leadership sets.

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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. In business there are many drivers of inventory, and the management of inventory levels requires discipline and a cross-functional focus. What Drives Inventory Effectiveness?

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. It catalyzed brick-and-mortar retailers to offer online shopping opportunities, which require much more than manual inventory management practices. Ability to create customized reports and use analytics to improve inventory forecast accuracy.

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.

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. Lean supply chain and inventory management enable Small Medium Businesses (SMB) to improve efficiency and increase profits. What is Lean Inventory Management? Flow: Understand how inventory flows in your warehouse and apply Lean principle: 5S to clear any obstacles that do not add up.

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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. Virtual inventory is an all-inclusive list of a company’s products that can be sold to a consumer; the products might be in a retail store, stock room or warehouse. Inventory Transportation Spend

The Transportation Supply Chain: Transportation’s Role in Supply Chain Management to Lower Total Costs

Cerasis

One of the often missing links, however, in supply chain visibility, is transportation management. We call this the transportation supply chain. What is the Transportation Supply Chain? Transportation refers to the movement of product from one location to another as it makes its way from the beginning of a supply chain to the customer’s handle. Any supply chain’s success is closely linked to the appropriate use of transportation.

Who's Really Running Your Retail Operation?

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. E-commerce is a juggernaut powered by Amazon's dominance and it's changed just about every aspect of retail operations.

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?

ChainLink Research: Agile Retailer - Linking Allocation and Transportation

Logility

We recently wrote a white paper called The Agile Retailer. In it, we examined how allocation practices are changing, especially for fashion retailers. As retailers face stiffer competition they are discovering and implementing new methods—not just faster fashion—but often introducing new brands and lines to capture distinct customer bases. This, de facto, is what separates an agile retailer from others. Only the best retailers survive and thrive.

Inventory Optimization 101 – Smart & Effective Inventory Management

ThroughPut

What is Inventory Optimization? Inventory Optimization is defined as a method of balancing the manufacturers’ capital investment constraints and goals along with the defined service-level goals over a large assortment of stock-keeping units (SKUs) while considering all demand and supply volatility situations. It includes the practice of having the right levels of inventory to meet your target service levels while keeping a minimum amount of capital locked for inventory.

Inventory Optimization 101 – Smart & Effective Inventory Management

ThroughPut

What is Inventory Optimization? Inventory Optimization is defined as a method of balancing the manufacturers’ capital investment constraints and goals along with the defined service-level goals over a large assortment of stock-keeping units (SKUs) while considering all demand and supply volatility situations. It includes the practice of having the right levels of inventory to meet your target service levels while keeping a minimum amount of capital locked for inventory.

Retail Compliance Programs: How to Exceed Retailer Expectations

CH Robinson Logistics

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. Compliance programs vary by retailer but the intent is consistent across the industry—have the right product in the right location at the right time while removing waste. Inventory management . Transportation spend.

Four Things You Probably Didn’t Know About Inventory Planning and Sustainability

ToolsGroup

I think it’s time we started spreading the good news: when you harness demand and inventory planning to slash unnecessary expenses and improve service to customers, you also reduce waste and support sustainability. Having the right inventory in the right location brings a variety of waste-reduction benefits. The place to start for a more efficient inventory stocking strategy is better understanding your demand so you can precisely predict how much goods you need, where and when.

Transportation Cost Drains

The Logistics of Logistics

Transportation expense can cost 5%-10% of gross revenue and will be going up if not managed effectively.” Transportation cost drains drive up costs. Many companies are experiencing dramatic increases in transportation expense that have turned into cash and quality drains for their organization. Savvy financial managers know transportation cost can cost 5%-10% of gross revenue and will be going up if not managed effectively.

Transportation, Planning, and Omni-Channel Fulfillment

Talking Logistics

But when PwC asked CEOs in a recent survey ( Global Retail and Consumer Goods CEO Survey: The Omni-Channel Fulfillment Imperative ) what areas most needed their additional attention to achieve omni-channel fulfillment, 88 percent said it is their transportation and logistics operations. Transportation is an Afterthought. Even more surprising, 31 percent have no transportation optimization capabilities, or use only faxes and phone calls for this purpose.

3PL Basics: The 11 Transportation Services with Jeremy Thone

The Logistics of Logistics

3PL Basics: The 11 Transportation Services with Jeremy Thone. Joe Lynch and Jeremy Thone discuss the 3PL basics: the 11 transportation services provided by 3rd party logistics providers. BrokerWare is a transportation management system (TMS) for Non-Asset Based Freight Brokers.

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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. Industry analysts have pointed out an obvious fit with inventory optimization. He says that the majority of omnichannel retailers use a hybrid strategy—filling online orders from both stores and distribution centers.

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. While this may work for small businesses, it can be detrimental to the growing state of e-commerce in retail.

Vendor-managed inventory and distribution planning in the food and beverage industry – here’s something to chew on

Kinaxis

Among the many supply chain initiatives taking place today, vendor-managed inventory (VMI) has become an increasingly effective process and business model to help organizations share risk and information between vendors and customers — while benefitting from lower stockouts, reduced uncertainty and lower costs. A demanding distribution network comprised of producers, distributors and retailers. What is vendor-managed inventory? Better transportation planning.

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.

What Is Retail Consolidation?

CH Robinson Transportfolio

What Is Retail Consolidation & Is It Right for You? Handling ever-changing consumer and retailer demands can be overwhelming—especially if you’re working with multiple retailers across the country or the world. Maintaining inventory levels and optimizing order quantities, while keeping compliance requirements in mind, requires a strategic approach. What is a retail consolidation program? Retailer compliance programs are unique to each company.

Retail Link – How Does It Help?

SupplyPike

Learn all about: What Retail Link is and who can use it The challenges of Retail Link What reports and tools Retail Link has to offer. Retail Link provides you all this. Retail Link is also a way Walmart monitors its suppliers. With Retail Link, suppliers can handle their own products by tracking their supplier data , involving sales and inventory volume, percentage of stock, trade margin, and inventory turnover. Retail Link Optimization.

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

Cerasis

Editor’s Note: Cerasis is a 3PL focused on transportation management. 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. Each blog post written is distributed into groups that reach the supply chain community as well as professionals in manufacturing, transportation, distribution, and more.

How to Prepare Transportation for Holiday Returns

PLS Logistics

The holiday season is upon us, and retailers must be prepared to avoid seasonal challenges. One major obstacle facing retailers: the rising number of e-commerce returns. The predicted rate of returns of total retail sales for the 2015 holiday season is 8.1%. Establishing an effective reverse logistics process allows retailers to minimize processing costs and increase the recovery value of returned goods. Freight Inventory Customer Experience Omni-Channel

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.

Retail Distribution Center Automation: 6 Factors to Consider

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. Retail is moving at a pace we've never seen before. Today's retail operations superstars are the ones who know where and when to employ not only the newest, fastest technologies, but also the tried and true. That represents 14 percent of the world's overall retail sales of $25.038 trillion. [1]

Centralised Inventory Management: Is it right for you?

Unleashed

Inventory management is a game changer when it comes to retail profitability. When your inventory is managed well, other parts of your business reap the benefits. However, the importance of inventory management isn’t always appreciated and can be overlooked by business owners. This is interesting because, from a financial point of view, inventory is one of your greatest assets. If you overstock your inventory, this becomes a liability. Online retailers.

How Adding Ship-from-Store to an Omni-channel Strategy Changes the Retail Network

Talking Logistics

Omni-channel retailers today require agility in order to compete and thrive. When it comes to adapting the retail network for an omni-channel approach, a focus on the customer is essential. In addition, shoppers expect retailers to have products they want when it comes to brand, size, style and color. Additionally, ship-from-store improves margins by providing demand to slow moving inventory trapped at a store.

Bad habits in retail supply chain planning

The Network Effect

” This is especially true in the world of retail supply chain planning. When retailers embark upon implementing time-phased planning, it is tempting – from a change management standpoint – to tell people “this isn’t much different than what we do today” or “we’re essentially doing the same thing in a different way” While this is partially true at the 10,000 foot level, the things that are different are fundamentally different.

Global Trade Networks Create a Single Version of the Truth for Retailers

Talking Logistics

Drop shipping is becoming more and more popular among retailers as the “Amazon effect” creates intense pressure from customers for quick delivery. Retailers are willing to take the risk associated with releasing the inventory management and fulfilment process so product moves faster. Drop ship offers the retailer the ability to offset an extended product offering without having the space to store it.

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Top 5 Ways Inventory Tracking Technology Is Evolving

Cerasis

Consumers want to use their mobile devices, traditional desktop browsers, brick-and-mortar stores and apps to shop, and retailers are experiencing trouble navigating this new landscape. Inventory tracking is among the top areas most impacted by omnichannel supply chain strategies, and consumer spending habits are forcing inventory tracking technology to evolve, making sure consumers can get the products they want, through the media and channels they want, and at the prices they want.