EazyStock

JUNE 18, 2019

If you’re wondering what is the best way to manage inventory with hundreds or even thousands of SKUs, you’ve found your answer: ABC analysis (otherwise known as ABC classification ). In this post, we’re going to discuss how you can classify your inventory into three ABC categories and introduce the concept of XYZ analysis.

Analysis 40

Analysis Inventory Reduction Inventory Procurement Solutions 40

EazyStock

FEBRUARY 18, 2020

What is Economic Order Quantity (EOQ)? Economic order quantity (EOQ) concerns the most cost-efficient method of ordering stock. The objective is to find the order quantity that minimizes the total inventory holding costs and ordering costs. Ordering costs are the costs that arise every time inventory is ordered.

Ordering 52

Ordering Purchasing Skills How To Inventory 52

Ship Monk

JULY 7, 2022

As online shoppers, we see examples of minimum order quantity everywhere. We, as consumers, have grown accustomed to buying in bulk in order to pay less per unit. For suppliers and merchants, however, setting a minimum order quantity for your goods can mean the difference between losing money and making a profit on each sale.

Purchasing Skills 86

Purchasing Skills eCommerce Ordering Negotiating Skills 86

3PL Links

FEBRUARY 13, 2023

How to Innovate Your Supply Chain Management: What You Need to Know | Image Source: Axestrack Organizations must prioritize supply chain management and implement strategies to increase its efficiency if they want to compete in the market. How to innovate? Ikea’s packaging design is a well-known example to help with this matter.

Supply Chain Design Software 62

Supply Chain Design Software Optimal Sourcing Supply Chain Design Supply Chain Software 62

EazyStock

MAY 11, 2021

If you’re wondering what is the best way to manage inventory with hundreds or even thousands of SKUs, you’ve found your answer: ABC classification (otherwise known as ABC analysis ). In this post, we’re going to discuss how you can classify your inventory into three ABC categories and introduce the concept of XYZ analysis.

Inventory Reduction 52

Inventory Reduction Inventory How To Procurement Solutions 52

Ship Monk

JULY 20, 2023

These zones are grouped not by miles, but by zip codes from the point of package origin (where an order is shipped from) to the point of destination (where the package is going). Shipping zones are calculated based on where an ecommerce order is shipped from. Hence the more zones traveled the bigger the price.

Negotiating Skills 52

Negotiating Skills Purchasing Skills eCommerce Cost Reduction 52

EazyStock

JANUARY 31, 2022

Inventory Management KPIs for Effective Inventory Analysis. Lots of activities, processes and people are involved in ordering, receiving, storing, picking and shipping items with the ultimate aim of keeping customers happy with the correct orders that are on time. How to Choose Inventory Management KPIs.

Inventory Reduction 52

Inventory Reduction Inventory Analysis Optimization Software 52

Ship Monk

APRIL 28, 2023

Educate Customers In order to add value to your eco-friendly endorsement, and influence others to care about the same cause, you need to consistently convey your eco-friendly ethos across your business platform. Getting all those orders from one place to another on a daily basis has serious environmental impact. We hope you do!

eCommerce 66

eCommerce Waste Reduction How To Material Savings 66

Logistics Bureau

JULY 18, 2022

All the same, it can be challenging to know where to start, what steps to take, and in what order to take them to establish a realistic and effective supply chain strategy. For example, you don’t want to assume that a single logistics strategy and service approach will meet all your customers’ needs. It may do, but how do you know?

Inventory Reduction 106

Inventory Reduction Resource Reduction Vendor Strategies Cost Reduction 106

Locus

MAY 25, 2023

One such important lever is Economic Order Quantity. What is Economic Order Quantity? Ford Whitman Harris first published the model of Economic Order Quantity in a paper Factory, The Magazine of Management , in 1913. This model became dominant for order-quantity analysis in the study of supply chains.

Inventory Reduction 52

Inventory Reduction Cost Reduction Ordering Waste Reduction 52

Logistics Bureau

JANUARY 11, 2021

So, for example, if a sales rep asks them, customers will say, “I want a good level of service, I want a competitive price, and I want a strong relationship with the business.”. To do that we use a technique called conjoint analysis. How to Design your Customer Service Offer. We need to try to penetrate that. A Lengthy Process.

Logistics Network Optimization Software 68

Logistics Network Optimization Software How To Supply Chain Design Networks 68

SYSPRO Smarter ERP

NOVEMBER 30, 2021

Other related tools such as Pareto analysis identify which products are most profitable and hence those you should focus your attention on. Charged with this critical task, the purchasing department can leverage its Material Requirements Plan (MRP) to stay abreast of what’s needed, how much and when. Managing Inventory.

Supply Chain Planning Software 105

Supply Chain Planning Software Supply Chain Design Software Supply Chain Software Manufacturing Procurement 105

Logistics Bureau

NOVEMBER 16, 2020

For example, a member of the sales team could apply to become a purchasing agent, based on her experience of negotiating sales deals. For example, you can be doing finance in supply chain, or you can be doing operations. You could be particularly numerate, or into analysis. Why Choose a Job in the Supply Chain Industry?

Supply Chain Planning Software 115

Supply Chain Planning Software Supply Chain Design Software Supply Chain Software Supply Chain Design 115

Logistics Viewpoints

DECEMBER 12, 2023

The rise of e-commerce has led to higher volumes of smaller orders that need to be fulfilled and shipped individually. Volatile demand means warehouses need to pivot quickly when order volumes change. Businesses would like to make the most of their investments in warehouse automation, but they’re not sure how to do that.

Supply Chain Planning Software 168

Supply Chain Planning Software Supply Chain Design Software Optimization Software Resource Reduction 168

EazyStock

MARCH 4, 2021

How to Increase Inventory Turnover with Inventory Optimization. This post will explain how, but first, let’s deal with a few simple definitions. When looking to improve inventory turnover, it’s important that inventory planners and purchasers only order items that have a demand in the marketplace. Reorder smarter.

Optimal Sourcing 59

Optimal Sourcing Inventory Reduction Inventory Optimization Software 59

Ship Monk

FEBRUARY 24, 2024

How much are you spending on manufacturing, shipping, marketing, customer support, logistics services, and order fulfillment services? For example, ShipMonk customizes logistics services and associated fees to the unique needs of every client. There are many different models and formulas for strategically ordering inventory.

eCommerce 88

eCommerce Inventory Reduction Tips Waste Reduction 88

EazyStock

DECEMBER 13, 2021

For example, when there is only a day, a week or a month’s worth of stock left, based on the item’s average sales. A basic risk of stockout spreadsheet can be easily set up using the following data: Current stock items, items on order and in transit. Restrict ordering/sales of ‘at risk’ items. Demand forecasts. Lead times.

Inventory 52

Inventory Supply Chain Planning Software How To Supply Chain Software 52

Ship Monk

FEBRUARY 9, 2024

As the holiday shopping season reaches its peak, ecommerce business owners everywhere are crossing their fingers, hoping they have enough product in stock and that they didn’t order too much. In a few short weeks they’ll find out just how accurate their demand forecasting method was.

eCommerce 84

eCommerce Inventory Reduction Operations Modeling Software 84

Turvo

AUGUST 24, 2021

Examples would be some traditional forms of material handling equipment. Data collection and analysis can be accurately applied to the network. Real-time tracking and order updating tools. The post How to Create a Better Shipping Experience: Trends in Logistics Technology to Optimize Supply Chains appeared first on Turvo.

Optimization Software 98

Optimization Software Supply Chain Software Logistics Network Optimization Software Supply Chains 98

EazyStock

FEBRUARY 1, 2021

Here’s how eCommerce businesses can improve their inventory management. eCommerce Inventory Management is the business process responsible for ordering, managing, storing and moving inventory. Here are ways you can optimize your inventory management practices for eCommerce competitiveness: How to Manage eCommerce Inventory.

Inventory Reduction 52

Inventory Reduction Optimization Software eCommerce Inventory 52

Trinity Logistics

NOVEMBER 30, 2021

Order planning This will help you with routing, optimizing your delivery processes, integrating your delivery data, and getting a granular view of all transportation stages. You’ll have access to experts who know how to make use of all the tools and reporting. GET A FREE SUPPLY CHAIN ANALYSIS TO SEE WHAT SOLUTIONS WE HAVE FOR YOU.

Supply Chain Design Software 86

Supply Chain Design Software Supply Chain Planning Software Logistics Network Optimization Software Optimization Software 86

Blue Grace Logistics

JUNE 29, 2021

An additional cost angle is involved with the pick and pack operations that are required for e-commerce multi-product order fulfilments. This tends to be more cost-intensive and technology-driven when compared to the former processes of manual packaging and handling of single products per order. Batch Size and JIT.

Warehousing 62

Warehousing Supply Chain Planning Software Capacity Supply Chain Software 62

EazyStock

FEBRUARY 26, 2020

Instead you need to find ways to fulfill orders without maxing out on stock. ABC analysis is a simple way to segment your stock based on its value to the business. Monitoring your service level as an inventory management KPI helps you ensure you can completely fulfill every order and prevent stockouts.

Availability 52

Availability How To Inventory Reduction Optimization Software 52

Logistics Bureau

NOVEMBER 23, 2020

An example from a company that turned to Kieran for help in cutting its costs and streamlining its warehousing operations will aid in illustrating this maxim. Let’s look at an example. In our example (Company Z), the availability of A-lines is 93 percent, of B-lines is 94 percent, and of C-lines is 93 percent.

Inventory Reduction 62

Inventory Reduction Inventory Expense Reduction Supply Chain Planning Software 62

EazyStock

JANUARY 21, 2021

When obtaining optimal order points and order quantities buyers need to keep track of everything from minimum order quantities, to stock multiples, article replacements and ensuring adequate storage space. In these cases, manually creating forecasts and working out order quantities and safety stock levels is a manageable task.

Inventory 52

Inventory Optimization Software Supply Chain Planning Software Supply Chain Design Software 52

EazyStock

FEBRUARY 7, 2020

In this post we’re exploring how to manage inventory effectively when you’re faced with a growing product portfolio. Reducing stock levels to carry more lines (without accurate forecasting and inventory optimization tools) can lead to stockouts and expensive backorders or rush orders from suppliers.

Inventory Reduction 52

Inventory Reduction Optimal Sourcing Inventory Optimization Software 52

Logistics Viewpoints

APRIL 3, 2023

Orders can be cancelled, rush orders come in, factory machines go down, port congestion occurs, and so forth. For example, a suggestion from the system might be to transfer 96,154 units of a stock keeping unit to a distribution center in Denver to fill a projected backorder. Allocation is a good example of this.

Supply Chain Planning Software 151

Supply Chain Planning Software Supply Chain Design Software Supply Chain Software Supply Chain Design 151

EazyStock

MARCH 3, 2022

In the early 1980s, just in time supply chain management emerged as a way for businesses to reduce stock levels and only hold items that were needed to fulfill known orders. In this post, we explain how you can implement a just-in-case stock management strategy without the risk of tying up too much capital in unnecessary inventory items.

Inventory Reduction 52

Inventory Reduction Inventory Supply Chain Planning Software Cost Reduction 52

Logistics Bureau

JULY 11, 2022

Hopefully these examples will prove helpful if you are building a new supplier scoring process, overhauling your existing metrics portfolio, or just looking for some practical supplier performance measurement ideas. SEE ALSO: How to Address Chronic Poor Supplier Performance. Quantity Ordered versus Quantity Received.

Procurement Analytics 107

Procurement Analytics Procurement Solutions Purchasing Skills Inbound 107

EazyStock

NOVEMBER 21, 2019

For example, sales transactions that result from a flash clearance sale do not represent typical demand for a given period. Unusual demand can be caused by known evens such as large one-time orders or sales promotions. Deciding How to Handle Outliers. In the example above, the orange line going forward reflects this decision.

Optimization Software 40

Optimization Software How To Inventory Reduction Procurement Solutions 40

WorkWave

SEPTEMBER 23, 2021

Grocery shopping has changed significantly in recent years, as more consumers order their weekly shopping online for delivery. Designing a successful business model requires a bit of research and analysis of your competitors. For example, suppose your business offers certain specialized grocery products or local farm-to-table services.

Modeling Software 52

Modeling Software Optimization Software How To Procurement Solutions 52

Logistics Business Magazine

JUNE 14, 2021

This “process” is where you need to begin your analysis. How to automate? Once this basic premise is accepted, the in-depth analysis of your current situation should begin by asking two very important questions: 1. The post How to automate your warehouse appeared first on Logistics Business® Magazine.

Automation 48

Automation Optimization Software How To Modeling Software 48

Logistics Bureau

MAY 31, 2021

The tips in this article will help you know how to identify the customers, products, and processes that might be inflating your cost to serve (CTS) unnecessarily. For example: Compared to selling a product in-store, the cost to deliver that same item as a small parcel can be several times higher. Identifying Cost Elements and Drivers.

Cost Reduction 117

Cost Reduction Purchasing Skills Expense Reduction Inventory Reduction 117

Logistics Bureau

OCTOBER 20, 2021

“Paralysis by analysis” is a common term used to describe such a situation, and you can avoid it by monitoring a smaller number of carefully chosen KPIs. Perfect Order. Even if you chose no other KPIs for your supply chain organisation, you’d do well to consider perfect order as an absolute essential.

Supply Chain Design Software 96

Supply Chain Design Software Supply Chain Planning Software Supply Chain Software Supply Chain Design 96

Logistics Bureau

NOVEMBER 14, 2018

The challenge is to measure profitability to the right level of detail in order to see what works and what could be improved. Too much leads to resources being monopolised on gathering tons of data and a subsequent risk of “paralysis by analysis” Cost to Serve (CTS) is an approach that helps you avoid both extremes.

Purchasing Skills 88

Purchasing Skills Cost Reduction Supply Chain Planning Software Supply Chain Design Software 88

Logistics at MPEPS at UPV

MAY 20, 2023

This tool has an impact on logistics, as it takes into account logistics operations such as the supply of raw materials, storage conditions or order distribution. Below is a summary of the main steps to follow in order to have a general idea of how to do it.

Logistics Network Optimization Software 52

Logistics Network Optimization Software Tools Production Waste Reduction 52

3PL Insights

JULY 26, 2017

So you’ve decided to choose between one or the other—fun crafting projects or games—and you’ll need to decide between one or the other, in order to break down and designate your audience. For example, probably parents with kids. For parents with kids, how old? How else can we break it up?

How To 58

How To Packaging Distribution Packing 58