Multi-echelon Inventory Optimization vs Inventory Optimization

ToolsGroup

Now consider that by not optimizing your inventory from a global vantage point you may be creating, if not outright chaos, a much less efficient network than you could have. The basic approach to inventory optimization. The multi-echelon inventory optimization approach.

Here’s How to Measure Inventory Health

ToolsGroup

Looking for a relatively quick way to measure inventory health? “It Even though we’re talking about inventory, we first have to understand customer buying behavior—and how that then translates into inventory requirements.”

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Ecommerce Inventory Management: Why the Right Software is Key

Unleashed

Manufacturers and brick-and-mortar retailers have been using software to manage their inventory for years – but inventory management is even more important when you’re running a business that operates in the complex eCommerce space.

Smart Software Celebrating 40 years

The Smart Software

We are so grateful to announce Smart Software’s 40th anniversary. The post Smart Software Celebrating 40 years appeared first on Smart Software.

Electric Power Utility Selects Smart Software for Inventory Optimization

The Smart Software

Smart Software today announced its selection, purchase, and implementation of its flagship product by a major US Electric Utility. Smart IP&O was implemented in just 90 days and has reduced inventory by $9 million within its first six months of operation.

Inventory Planning Becomes More Interesting

The Smart Software

Just-In-Time (JIT) ensures that a manufacturer produces only the necessary amount, and many companies ignore the risks inherent in reducing inventories. So how can you execute a real-world plan for JIT inventory amidst all this risk and uncertainty?

Nespresso Optimizes Orders and Inventory with End-to-End Digital Supply Chain Planning

ToolsGroup

It’s no simple task providing customers access to the full range of capsules and coffee machines on all sales channels, across more than 70 boutiques in Italy, while optimizing inventory levels. Fewer stock shortages and reduced obsolete inventory.

Inventory Planning vs. Inventory Optimization: What’s the Difference?

ToolsGroup

What’s the difference between traditional inventory planning and inventory optimization? Optimizing your inventory is a different beast than simply planning your inventory. They face a complex distribution network and optimizing inventory for each location is challenging.

32 KPIs That Drive Inventory Optimization

Silvon Software

Inventory can be a manufacturer’s most important asset. But a large inventory has its own liabilities such as cost to store and insure it, along with the risk of spoilage, theft and damage. The Basics of Inventory Management KPIs.

Prophet 21 User Group Webinar: Inventory Planning Processes

The Smart Software

Smart Software is pleased to introduce our new webinar, offered exclusively for Prophet21 users. Greg Hartunian, CEO at Smart Software, will lead a 45-minute webinar focusing on specific approaches to demand forecasting and inventory planning.

The 10 Most Crucial Inventory Performance Measures for SMEs

Unleashed

There are a lot of inventory performance measures you could track. Explore our live inventory calculators and formulas page. In this article on inventory performance measures. Why use performance measures for inventory management?

Smart Software named a Microsoft Co-sell-ready partner

The Smart Software

Smart Software, Inc., The post Smart Software named a Microsoft Co-sell-ready partner appeared first on Smart Software. today announced that will participate at the Microsoft Community Summit North America 2021 and preview it’s soon to be released Gen2 forecasting algorithms.

Smart Software and Arizona Public Service to Present at WERC 2022

The Smart Software

Smart Software CEO and APS Inventory & Logistics Manager to present WERC 2022 Studio Session on implementing Smart IP&O in 90 Days and saving $9,000,000 by optimizing reorder points and order quantities for over 250,000 spare parts.

Gaining Clarity on Inventory Effectiveness

Supply Chain Shaman

I was moving from a position where I led a manufacturing operation to being a part of a team to design supply chain software to improve planning decisions. I was moving from the world of manufacturing to a new world of software. When I went through the training to learn the new software, I struggled. It is hard to sort through the marketing speak of software vendors to get to the true facts. The impact of complexity on inventory is not quick.

How to Select Supply Chain Planning Software

ToolsGroup

The implications are much broader–if you implement the wrong software, you hinder your organization’s overall supply chain strategy and business objectives. Planning and preparation are paramount when beginning the planning software selection process.

Getting Inventory Right: Hope with Hype and Recycled Software?

Supply Chain Shaman

In parallel, I have been hard at work on a report on multi-tier inventory optimization for the last two weeks. In the research for my inventory optimization report, the lowest level of satisfaction with multi-tier inventory optimization is with clients of the SAP inventory solution (previously purchased from SmartOps). Selling licenses does not translate into implemented software. ” LLamasoft: Recycled Software Assets Offering Hope?

Smart Software to Present at Epicor Insights 2021

The Smart Software

Smart Software President and CEO to present Insights 2021 Breakout Session on Creating Competitive Advantage with Smart Inventory Planning and Optimization. Empower planning teams to reduce inventory, improve service levels, and increase operational efficiency.

American Software to Present at the Jefferies Virtual Software Conference

Logility

ATLANTA, GA (September 3, 2021) – American Software, Inc. A live webcast of the presentation will be accessible via American Software’s website and archived for a limited time at www.amsoftware.com/investor-relations. About American Software, Inc.

Quantum Inventory Theory?

The Smart Software

The post Quantum Inventory Theory? appeared first on Smart Software. Blog Demand Planning Inventory Optimization Operational Analytics demand planning implementations efficient stocking ERP forecasting software inventory modeling inventory optimization kpi metrics overstock probabilistic modeling statistical forecasting supply chain analyticsPhysics at the quantum level is quite weird – not at all like what we experience in our usual macroscopic life.

Top 10 Warehouse Inventory Management Software (2022)

Vinculum

Warehouse Inventory Management is the most due process to run an e-commerce business model. The warehouse management undergoes a lot of challenges, from inventory management to tracking the stuff at real-time delivery of the services. Such software is transparent and flexible.

Optimizing Inventory around Suppliers´ Minimum Order Quantities

The Smart Software

Recently, we had an interesting conversation with an inventory manager and the VP Finance. He would accept a large inventory investment, but his customer service levels would the exceptional. Perhaps the large inventory investment was assumed to be the cost of doing business.

Manufacturing ERP Software | Kechie ERP

My Office Apps

Manufacturing ERP Software | Kechie ERP. In order to maintain a competitive edge in the manufacturing industry, it is important to have the right software in place. Many manufacturing companies are turning to ERP software to help them manage their business more efficiently.

January 2022: Maximize service levels and minimize inventory costs

The Smart Software

Please join our webinar and learn how to plan optimal inventory levels and purchase quantities for thousands of items when demand is intermittent, constantly changing, or affected by unexpected events.

Medical Inventory Management & Consumable Inventory

My Office Apps

Consumable Inventory & the Medical Field. Unorganized medical inventory management can cause delays in providing patient care, and in the healthcare industry, each second matters. Medical providers often overlook inventory management, especially consumable inventory.

Inventory Forecasting Explained: The 2022 Guide

Unleashed

A crystal ball sometimes wouldn’t go amiss in inventory forecasting. Here we explain the methods and formulas you can use to improve your inventory forecasting, and best practices for your business when designing and carrying out this process. Read more: What is Inventory Management?

A Basic Guide to ECommerce Inventory Management!

Supply Chain Game Changer

Featuring Our 10 Best Inventory Management Articles! However, to have a profitable online selling business, it’s crucial to understand the importance of inventory management in eCommerce. However, automation alone may not be enough for a successful inventory management system.

Inventory Planning Processes: Challenges and Opportunities

The Smart Software

Epicor User Group Webinar: Top 3 Inventory Control Policies. SVP Research and Professor Emeritus at Rensselaer Polytechnic Institute, defines and compares the three most used inventory control policies. In this webinar Dr Thomas R. Willemain, Ph.D.,

5 Tips When Using Inventory Management Software

ProcurePort

Without inventory management, businesses, economies, and societies would descend into chaos. Inventory management is one of the most crucial elements in developing strong and resilient supply-chains that aren’t affected by the volatile marketplace.

Five Suggestions for Practical Inventory Management

Logility

The real problem, however, was inventory. The client had a warehouse full of old stock that had been sitting unwanted for years , and there wasn’t enough room to accommodate the inventory that they were selling. . What is the right inventory level for your business? .

PAR Levels in Inventory Management (with Formula & Examples)

Unleashed

PAR levels are used widely in industries that handle perishable items – such as hospitality and pharmaceuticals – to calculate the level of inventory needed for a given item so businesses don’t run out before their next delivery. Unleashed live inventory calculators.

17 Wholesale Software Features For SMEs To Look For

Unleashed

For any wholesale business, software has become critical to survival. So what should you keep an eye out for when you’re shopping around for wholesaling software? Learn more: Handle your wholesale orders with confidence Why is dedicated software so crucial for a wholesale SME?

Multi-echelon inventory optimization vs inventory optimization

ToolsGroup

Editor’s Note: Last year ToolsGroup became Microsoft’s partner for Multi-echelon Inventory Optimization (MEIO) in Industrial accounts. Microsoft and I collaborated on a blog introducing the basic concept of MEIO, comparing it with Inventory Optimization. Now consider that by not optimizing your inventory from a global vantage point you may be creating, if not outright chaos, a much less efficient network than you could have. The basic approach to inventory optimization.

Why a Software Proof of Concept (POC) Is Better than an RFI

ToolsGroup

A proof of concept (POC) is an increasingly common method to select the best supply chain software vendor for your company, yet many supply chain practitioners still lean on the traditional RFI (request for information) tool. Software selection is risky.

Smart Software to Preview New Gen2 Forecasting Models at Microsoft Community Summit 2021

The Smart Software

Smart Software, Inc., The post Smart Software to Preview New Gen2 Forecasting Models at Microsoft Community Summit 2021 appeared first on Smart Software.

Seven Misconceptions on Managing Inventory in a Market-Driven World

Supply Chain Shaman

When it comes to the management of inventory in value chains, frustration abounds. Executive, after executive, lament, “They have purchased many technologies and sponsored many projects to reduce inventories, but they are not seeing results.” ” I have been studying the evolution of inventory technologies as an industry analyst since 2002. Inventory is the culmination of many business decisions. The Inventory Management Journey.