How To Incorporate Demand Forecasting Into Your Business
Demand forecasting is a fundamental part of the business. It plays an integral role in shaping how a business operates each month and each year. If a business wants to be successful with their inventory control, it’s necessary to plan for the many components of supply chain management. Forecasting tools will never be 100% accurate, […] ... Read More
October 16, 2018 inventory control, inventory levels, inventory management, supply and demandUnconstrained vs. Constrained Forecasting: Balancing Commercial Dreams with Reality
A company’s inventory is a significant asset on their books, however, if frequent shortages or excess happens, it can become a significant liability, costing the business’ bottom line. It is imperative to manage inventory appropriately so that supply and demand are always balanced. However, all the inventory management techniques and softwa ... Read More
October 16, 2018 business forecasting, demand forecasting, forecasting, inventory management, inventory planning, supply and demandThe Important Role of Inventory Management in the Supply Chain
Managing good customer and supplier relationships is a crucial aspect of effectively managing supply chains. In many cases, this collaborative relationship approach has been considered the essence of supply chain management. At the centre of these supply chain relationships, particularly those involving product flows, is inventory management. Argua ... Read More
August 21, 2018 inventory management, supply and demand, supply chain, supply chain challengesDeveloping the Right Seasonal Pricing Strategy
Depending on your business, you may have busy times and slow times. These ups and downs can affect the amount of money you’re making throughout the year. In a perfect world, businesses would have a steady flow of guaranteed profits. However, many eCommerce businesses are designed to be seasonal. This means that most of your […] ... Read More
July 9, 2018 seasonal demand, supply and demandUnderstanding the Cosmetic Industry’s Supply Chain
In the cosmetic industry, managing the supply chain efficiently and effectively is crucial for cosmetic companies to gain a competitive advantage. They must employ a multi-step logistics function to manage retailer requirements to help overcome the challenges caused by supply and demand inherent in the cosmetic industry. Supply Chain Fundamentals D ... Read More
May 2, 2018 logistics, supply and demand, supply chain, supply chain challengesConsignment Inventory – How It Works
Essentially, consignment inventory is when the supplier has their goods in another retail store or outlet. This can be a profitable business endeavour! ... Read More
April 24, 2017 consignment inventory, supply and demand, tracking inventory, wholesale, wholesaler reputationCraft Beer and the Race for Hops
The craft beer revolution has sparked a unique production for breweries both small and large, and needs careful managing of perishable stock. ... Read More
March 7, 2017 business of brewing, cost visibility, craft beer, supply and demand, supply chain managementLean production in the food industry
“Lean” thinking is a cornerstone of the modern competitive marketplace. Originally emerging as a concept in motor vehicle production more than 100 years ago, “lean” has not traditionally been associated with food manufacturing. This is because the core principles of lean production: relentlessly reducing waste and quickening the flow of the ... Read More
October 6, 2016 batch numbers, cost efficiency, lean food manufacturing, production margins, supply and demandFive tried and true strategies to turn your overstock liability into a business advantage
Businesses that implement inventory management software, which integrates each node in the supply chain, are generally able to avoid running into an overstock issue. This is because it enables the ability to track, trace and account for inventory in real-time via the cloud. However, for those who remain ingrained in outdated inventory management s ... Read More
August 28, 2016 cost efficiency, lean inventory practices, overstock, supply and demand, supply chain managementHow inventory management software can maintain accurate stock
Getting a handle on accurate stock control and management is a must for all businesses who carry inventory. For many companies, this is one of their biggest ongoing investments and an area which can greatly affect profitability and overall operations.
Inventory management software provides a number of solutions and features, often with ... Read More
September 23, 2015 manufacturing, overstock, safety stock, supply and demand, understock