Regaining control: Inventory management best practices (Part four)

Kinaxis

by Richard Cushing In part one of my inventory management best practices series I argue that inventory cannot be managed until it is controlled, and present the notion our general willingness to apportion blame upon unreliable data from enterprise resource planning (ERP) systems is misplaced.

Regaining control: Inventory management best practices (Part two)

Kinaxis

In part one of “Regaining control: Inventory management best practices” , we talked about controlling inventory, before being able to competently manage inventory. Inventory management best practices all about getting organized. by Richard Cushing.

Regaining control: Inventory management best practices (Part one)

Kinaxis

by Richard Cushing It happens to be axiomatic that you cannot manage your inventory if you do not control your inventory. Managing versus controlling inventory. Inventory management best practices.

How to Successfully Integrate an E-Commerce Shipping Plan Into Your Traditional Shipping Practices

Cerasis

E-commerce value will exceed $4 trillion by 2025, and demand for e-commerce requires seamless integration between traditional shipping practices and an e-commerce shipping plan. Its global nature makes conventional shipping strategies inefficient and utterly unworkable.

Key Questions for a Successful Distribution Network

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

As we plan for the world of eCommerce and the customer expectation of quick, free shipping, our ability to forecast is turned on its head. This webinar will cover: Strategies for making high-level decisions about your network design and inventory distribution.

Segmenting Your Inventory by Gross Margin and Demand Variability

ToolsGroup

Gartner Research analyst Paul Lord has developed a thought-provoking approach (shown in the above diagram) for tailoring supply and inventory tactics to different inventory segments. As we showed in a previous blog, it’s not the only way to segment your inventory, nor nearly the best.

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.

Drop Shipping: A Perfect Fit for Supply Chain Operating Networks

Talking Logistics

As reported last month by Jennifer Smith in the Wall Street Journal , “A growing number of retailers are relying on suppliers to ship online orders directly to customers, a strategy they hope will help them compete with e-commerce rivals without spending more on inventory.

Shipping Less-Than-Truckload Freight in E-Commerce: Shipping Online Is More Than Just Parcel Shipments

Cerasis

Those that seek to succeed in shipping online need to know a few things about why less-than-truckload may be the solution, how customers’ expectations are increasing, and what benefits less-than-truckload offers. Apply Standard Shipping and Handling Costs to Freight Quotes.

SanDisk’s Story of Customer Segmentation Strategies Using Inventory Postponement

Supply Chain Shaman

Instead, in the SanDisk journey , they adjusted the speed of response to their customer segments, and actively designing inventory postponement strategies. The supply chain is vertically integrated and global shipping almost 2 million units daily.

E-Commerce Shipping Strategy Challenges to Consider for Perfect Implementation

Cerasis

The path to perfect implementation of a new e-commerce shipping strategy is not always clear, and it comes with several challenges that can undermine the efficacy and cost-effectiveness of e-commerce. Determine e-commerce shipping costs and pricing models.

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.

3 Inventory Control Techniques to Improve and Maintain Inventory Accuracy

Unleashed

Inventory accuracy is vital to an organisation’s long-term success. Profits depend on the sale of inventory stock and if you don’t know what or how much you are selling then you could be missing an opportunity to maximise sales. Having poor and inaccurate inventory control can be costly because it causes issues such as unplanned stock-outs, the shipping of wrong products to customers, wasted resources trying to locate misplaced items and inventory shrinkage.

What is Inventory Optimization?

EazyStock

What is inventory optimization? You’ve heard of inventory management, and you probably already have some inventory management practices implemented in your supply chain. So what is inventory optimization? Inventory Optimization will make you more competitive.

Six Ways Warehouse Inventory Management Software Optimizes Efficiency

IQMS

The Warehouse Inventory Management Software market grew to $1.4B Warehouse Inventory Management software and systems help reduce infrastructure costs and enable the reallocation of existing IT resources to drive productivity improvements, according to IDC.

How You Can Optimise Your Inventory to Save Money

Unleashed

The phrase ‘flushing money down the drain’ can feel like a reality if your inventory isn’t managed properly. Managing inventory can be daunting, but the feeling of losing money because of inventory can be even worse. It’s time to pay attention to what’s going on in your warehouse and make your inventory save money for you. Let’s see what inventory management techniques can help put a few more dollars back into your accounts.

EDI 856: Ship Notice/Manifest

SupplyPike

An EDI 856 is known as an Advance Shipping Notice (ASN). Big box retailers plan deliveries and manage their inventory levels based on the information contained in ASN documents. The post EDI 856: Ship Notice/Manifest appeared first on SupplyPike - Supply Chain Simplified

Optimum Omnichannel Inventory Control

Unleashed

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. Let us dive in and consider some of the obstacles to flawless omnichannel inventory management. Methods to implement for optimum omnichannel inventory control.

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. ” Vendor Managed Inventory Model: A Quick Back Story.

6 Signs Your Business is Achieving Efficient Inventory Management

Unleashed

Did you know that better inventory management and control is one of the biggest parts of running a successful business and yet it is one that is often put on the back burner for misconceptions of that it is not a major profitable pursuit? Business owners know that holding inventory stock ties up a lot of cash, that’s why good inventory management is crucial for all businesses. When your inventory stock dips below the pre-set levels, you know it is time to order more.

E-Commerce Shipping: Why Shippers Are Mastering E-Commerce to Go Omnichannel

Cerasis

Unfortunately, shippers may overlook the biggest obstacle to omnichannel, developing effective e-commerce shipping practices. According to Stacey Rudolph of Business2Community, e-commerce shipping is complicated with an average return rate of 30 percent. Regionalize inventory.

3 Common Problems with eCommerce Inventory Management

Unleashed

In today’s marketplace, business owners aren’t operating with one channel to sell their inventory. This means they need an inventory management system to keep up with them. However, there are a few common mistakes that happen when you’re trying to manage eCommerce inventory. If your inventory management tools and stocktaking processes can’t keep up with the pace of purchases, then overselling can easily happen. Poor inventory forecasting.

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. Especially since many retailers have already purchased and shipped their goods ahead of the looming tariff changes. Without a collaborative material management program, companies face an increased risk of inventory mismanagement.

ABC Analysis of Inventory: Optimize Business Bottom Line

OptiProERP

The most common concern supply chain management experts struggle with is accurately identifying the causes of inventory inconsistencies. If a discrepancy is identified when users pick an item or perform a count, an inventory correction needs to be performed. Categorizing your inventory.

Strategic Logistics: 8 Steps to Controlling Inventory Flow & Driving Warehouse Efficiency

Cerasis

Today we will talk about the flow of strategy as pertains to inventory flow and driving warehouse efficiency. Staying Strategic in the Warehouse with Better Inventory Flow. Throughout the entire order fulfillment process, companies have a duty to ensure optimum warehouse efficiency by appropriately controlling inventory flow. Warehouses should also consider implementing these best practices to ensure effective warehouse management and maintain control and flow of inventory.

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.

Peak Shipping Season: A Review of Trends from the 2018 Holiday Peak Season

Cerasis

We will turn over each stone and consider how innovative technology will shape the future of shipping and logistics. So, let us reflect on the peak shipping season trends we saw at the close of 2018 and how those trends will affect the industry now and throughout 2019.

Trends 219

Best Pick and Pack Shipping Systems for 2014

The Logistics of Logistics

Best Pick and Pack Shipping Systems for 2014. With software plugged into your warehouse management system, picking and shipping orders has become a lot more accurate. Chirag Patel from Fairway Fulfillment & Logistics explores three popular pick and pack shipping systems in 2014. Also the benefits of each of the shipping system and potential suppliers to advance your warehousing operation.

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. Here’s how to make the ABC analysis work for your inventory.

The Teetering Relationship Between Inventory Control and Profit

Unleashed

The control of inventory and the effect it has on a company’s profit is inextricable and should be duly noticed by anyone attempting to manage sales and inventory. What many companies fail to fully appreciate is that inventory and cash can often be thought of as one and the same. If too much cash is invested in purchasing inventory in the hopes of future sales, it comes directly off the bottom line until it is recuperated through sales.

5 Ways SMEs Can Improve Inventory Turnover

Unleashed

To ensure your small business is operating efficiently, effectively managing inventory and meeting customers’ needs, you should aim to improve inventory turnover. Inventory turnover is the number of times a business sells and replaces inventory within a specified timeframe. The inventory turnover ratio is used to determine the effectiveness of inventory control and how long a business takes to sell its on-hand inventory stock. Inventory health.

How to Tackle the On-demand World of Inventory Management

Unleashed

Inventory management is an around the clock operation and the pace isn’t slowing down. This means the way we manage inventory has rapidly adapted as well. On top of this, shipping demands have increased tremendously. Overnight shipping has now evolved into same day shipping. We’ll take a closer look at how inventory management can keep up with changes in consumer patterns and technology in this on-demand world. Optimise with inventory on demand.

The Growth of Inventory Management

Unleashed

Inventory management originated even before the Industrial Revolution and has certainly evolved with time and expertise to become what it is today. The need for inventory management has always existed where trading was a livelihood and the stock management was imperative to protect one’s resources. A brief history of inventory technology. Inventory management specialists claim that a mere two drones can replace the work output of 100 people, which is quite impressive indeed.

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. Adopt Drop Shipping.

How Setting Par Levels Can Help Improve Your Inventory Control

Unleashed

Interestingly, par is also applied to inventory management. Par represents a level of inventory stock that is normal to have on hand to prepare you for any given circumstance. If your inventory stock levels go below the determined par level, this is a sign that more inventory stock is needed. The par level is ideal for maintaining a healthy balance of inventory stock. Business Tips inventory classification inventory control inventory management safety stock