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.

Design, Operating and Situational Inventory Trade-Offs

ToolsGroup

Gartner analyst Paul Lord has developed a framework to better understand inventory trade-offs by categorizing those decisions according to the objectives they are meant to achieve: structural, operational and situational. or “How can we reduce inventory and improve our balance sheet?”.

Static Inventory an Untapped Source of Working Capital

Supply Chain @ MIT

Inventory management policies that fail to keep pace with shifting product demand can lock up valuable working capital, especially in volatile markets. By dynamically managing inventory without compromising service levels, companies can free up these unexploited reserves of working capital.

How manufacturers optimize their inventories

ToolsGroup

Editor’s Note: Microsoft’s Colin Masson, Global Industry Director of Manufacturing Solutions (that's him on the left), sat down with me to discuss how manufacturers optimize their inventories. It then uses this model to understand the impact of demand forecasting on inventory.

End to End Supply Chain Visibility - Solving The Data Problem

simply seeing information in one place, aggregating data from multiple sources. inventory more clearly, you can see. inventory. 1DIGITAL TRANSFORMATION, END-TO-END VISIBILITY, AND. THE "DATA PROBLEM". Given the macroeconomic cl imate and the. Amazon effect," many companies are.

How manufacturers optimize their inventories

ToolsGroup

Editor’s Note: Microsoft’s Colin Masson, Global Industry Director of Manufacturing Solutions (that's him on the left), sat down with me to discuss how manufacturers optimize their inventories. It then uses this model to understand the impact of demand forecasting on inventory.

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.

Segmenting Your Inventory by Gross Margin and Demand Variability

ToolsGroup

Source: Gartner Research. 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. Lord calls this “situational inventory”. Inventory Optimizatio

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.

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.”.

Your Supply Chain Probably Has a Data Problem - Start There

sources of value for customers. Supply chain visibility gives a clear view of inventory and the. activities involved in the transport of that inventory. Without a centralized data source insights are difficult to gather and hidden.

Supply chain inventory optimization – Beyond the analytics

Kinaxis

by Alexa Cheater From designing, sourcing and manufacturing, to distribution and consumption, your supply chain is at the heart of your customer satisfaction levels. The equivalent of 7% of America’s GDP is tied up in inventory, and accounts receivable and payable.

Transportation Sourcing in an Omni-channel World

Talking Logistics

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. Also, is multi-functional engagement important and, how does omni-channel impact transportation sourcing? In addition, Jim says many retailers are facing inventory management challenges in the realm of “ship from store” and “pickup at store” fulfillment models.

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.

SanDisk’s Story of Customer Segmentation Strategies Using Inventory Postponement

Supply Chain Shaman

Source: Dictionary.com. Instead, in the SanDisk journey , they adjusted the speed of response to their customer segments, and actively designing inventory postponement strategies. Platitude: a flat, dull, or trite remark, especially one uttered as if it were fresh or profound.

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.

Report on Whole Foods Inventory Stockouts- Focus on the Implication vs. Symptoms

Supply Chain Matters

Inventory Management Procurement and Sourcing Retail Supply Chain Supply Chain Technology Supply chain wide visibility concept of Digitally-Enabled Response Networks Direct Store Delivery future retail supply chain management Supply chain Matters blog Whole Foods inventory management initiativesSupply Chain Matters comments on a published Business Insider report indicating a crisis of on-shelf availability of food items among Whole Foods retail outlets.

Food 131

Strategic sourcing enters a new age. Are you keeping up? (Part 2)

ivalua

In last week’s blog , I began discussing telltale signs that you have entered the new age of strategic sourcing. Improving costs remains a core competency for any sourcing organization. Inventory. The post Strategic sourcing enters a new age.

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.

Is Poor Inventory Performance Holding You Back?

Kinaxis

by Alexa Cheater Our partner Celestica recently published the following article, ‘ Is your company being held hostage by poor inventory performance? ’ Poor inventory performance can create a significant obstacle to growth and profitability.

Supplier Suspends Sales of Inventory to Major Retailer

Supply Chain Matters

Inventory Management Procurement and Sourcing Retail Supply Chain Supplier Management effects of elongated supplier payments Supply chain Matters blog trends towards supplier aggressivenessThis past August, this author penned a Supply Chain Matters blog commentary: The Newest Phase for Elongated Supplier Payments- More Aggressive Push Back.

10 Commandments of Inventory Management

Supply Chain Opz

Inventory management is one of the most important tasks for supply chain management professionals. However, most inventory control theories are too complicated or too difficult to apply to real world situations.

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.

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. Of course, you need inventory. Inventory Optimization

Vendor Managed Inventory Model for Supply Chain Cost Reductions

Cerasis

Below I will outline how a vendor managed inventory model, in conjunction with reverse marketing, value analysis, and collaboration will achieve supply chain cost reductions. Vendor Managed Inventory Model for Supply Chain Cost Reductions. The distributor maintains the inventory plan.

Winning the Inventory Battle in the Consumer Products Industry

Logility

Depending on the source, it is widely reported that anywhere from 50 to 85% of new products fail to achieve success. reduction in finished goods inventory (days). reduction in inventory obsolescence (percent of inventory value). eBook: The Inventory Optimization Handbook.

It’s Time to Revisit Vendor Managed Inventory

synchrono

A few decades ago, Vendor Managed Inventory (VMI) was a hot topic. Many manufacturers saw it as a way to reduce inventory levels and costs. As a result, many manufacturers limited their use of VMI to Class C items that were relatively inexpensive and easily sourced.

Measuring Adoption to Drive Sourcing Value

Supply Chain Network

Everyone has bad habits, but for procurement, bad habits can put a major dent it in the ROI of your sourcing tools. That’s because strategic sourcing is complex and challenging – success requires more than fancy software purchases. How many of our sourcing events are run through the system? Without better visibility into the sourcing process, procurement can’t uncover the problems they need to fix. Information Technology Inventory PaulMartyn Procurement

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. Companies that have too much inventory on-hand right now are struggling to clear out space ahead of the season, slashing prices and concerning stakeholders as profit margins creep downward.

Sports Authority-A Disturbing Twist to Consignment Inventory Management Practices

Supply Chain Matters

Consumer Goods Focused Supply Chain Inventory Management Procurement and Sourcing Retail Supply Chain Supplier Collaboration challenges within B2C retail supply chains independent blog analysis and insights on supply chain management Sports Authority bankruptcy protection Supply chain Matters blogEarlier this month we alerted Supply Chain Matters readers to the unfortunate filing of bankruptcy by retailer Sports Authority.

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. A sourcing agency will typically do one of the following roles: A.

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. So what strategies are out there to maintain inventories at the “right” level?

How Artificial Intelligence and Global Economic Factors Affect Inventory Optimization

ThroughPut

Through the targeted use of Artificial Intelligence (AI), Machine Learning and other technologies, leading global innovators are constantly trying to enhance the effectiveness of their inventory management.

Can Your Inventory Control System Support Seasonal Demand?

LeanCor

How can companies calculate the right inventory quantity and send it to the right place at the right time with such seasonality involved? Here are 3 tips to help you develop an inventory control system based on flow to the customer: 1. Where will you keep the inventory?

System 203

Not So Hidden Inventory

Logility

Recently, we were asked by the management of a manufacturer to help them assess why inventory levels were so high and trending upward. We went to the manufacturing plant to survey the scene, to see if we could determine the root cause of their inventory problem. Where was the inventory?