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

OCTOBER 17, 2023

Managing inventory is a pivotal part of peak season for every ecommerce store, regardless of size or industry. Underestimate inventory needs and buyers can have a negative experience with your brand because of backorders or stockouts, or you could just flat out lose business. A big part of that is inventory management.

Inventory Reduction 64

Inventory Reduction Inventory Optimization Software Supply Chain Planning Software 64

EazyStock

DECEMBER 13, 2021

Many inventory management teams are looking for ways to avoid stockouts, as they can cause problems across the entire organization. However, there are steps you can take to improve your inventory management processes and be better prepared to prevent regular stock availability crises in your business. Demand forecasts. Lead times.

Inventory 52

Inventory Supply Chain Planning Software How To Supply Chain Software 52

SYSPRO Smarter ERP

MARCH 28, 2024

Data-driven decision making is the process of collecting the data that a company uses, and transforming it into actionable insights. Using data to find patterns, inferences, and insights ensures that your company goals and plans are based on evidence and that decisions made are balanced and objective.

Manufacturing Procurement 52

Manufacturing Procurement Data Supply Chain Planning Software Optimal Sourcing 52

Logistics Bureau

DECEMBER 4, 2023

Inventory management is a crucial aspect of supply chain management, and effective strategies can help businesses reduce costs, improve customer service, and increase profits. But what does a great inventory management strategy look like? But consider, too, how you can turn those needs to your advantage in inventory management.

Inventory Reduction 87

Inventory Reduction Eliminating Excel in Purchasing Inventory Waste Reduction 87

Ship Monk

JULY 28, 2022

Any eCommerce business that manufactures goods has three different types of inventory at any given time: Raw Materials Inventory , Work in Process Inventory , and Finished Goods Inventory. This article will show you the difference between these types of inventory and how to calculate Work in Process inventory.

Inventory 64

Inventory Manufacturing Procurement Purchasing Skills eCommerce 64

EazyStock

FEBRUARY 1, 2021

Better Inventory Management for eCommerce. A critical area of focus should be your eCommerce inventory management processes. Want to know how? Here’s how eCommerce businesses can improve their inventory management. Improving your eCommerce Inventory Management. Forecasting eCommerce inventory demand.

Inventory Reduction 52

Inventory Reduction Optimization Software eCommerce Inventory 52

SYSPRO Smarter ERP

SEPTEMBER 27, 2021

Data is a crucial component of digital transformation in the manufacturing sector. However, data in itself is not a value driver. Many manufacturers aren’t maximizing the value from enriching data and missing out on opportunities to grow, optimize or manage risk. Share data for partnership and growth.

Manufacturing Procurement 105

Manufacturing Procurement Data Modeling Software Optimization Software 105

Logistics Bureau

MAY 24, 2021

Among the universal challenges that the COVID-19 pandemic has imposed upon the supply chain management profession is the question of inventory, specifically, “how much is enough?”. It wasn’t long ago that businesses were asking, “By how much can I reduce my levels of inventory?”. Turnover Days and How to Calculate Them.

Inventory Reduction 118

Inventory Reduction Inventory Supply Chain Planning Software Supply Chain Software 118

Logistics Bureau

DECEMBER 20, 2021

As we are often asked about KPIs for inventory management , that’s what we’re going to focus on in this particular post. You will also understand their notable benefits to the inventory management discipline. 10 Invaluable KPIs to Track Inventory Management Performance. 1: Inventory Turns. million)/2 = 6.76.

Inventory Reduction 92

Inventory Reduction Inventory Cost Reduction Purchasing Skills 92

EazyStock

MARCH 3, 2022

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. How to implement JIC inventory management with optimum stock levels. Accurate demand forecasting is critical for JIC inventory management.

Inventory Reduction 52

Inventory Reduction Inventory Supply Chain Planning Software Cost Reduction 52

FourKites

DECEMBER 11, 2020

What is inventory carrying cost? Inventory carrying cost, or more simply referred to as “carrying cost,” is the sum of all the costs associated with holding inventory or stock in storage or warehouse. Inventory carrying costs are something that anyone who sells a physical product has to deal with. Inventory Service Cost.

Inventory Reduction 52

Inventory Reduction Cost Reduction Expense Reduction Resource Reduction 52

Ship Monk

AUGUST 22, 2022

SKUs are vital to inventory management and the success of any business—as pivotal to operations as a binding agent is to a meatball (i.e. A SKU is a code (typically 8 – 12 alphanumeric digits long) assigned to the items in your inventory. But how exactly is a SKU created and structured? What is a SKU? Creating a SKU.

Inventory Reduction 52

Inventory Reduction eCommerce Inventory 3PL 52

Ship Monk

NOVEMBER 21, 2022

This article will explain what reorder points are and show you how to calculate them. Ideally, calculating the reorder point for each SKU will ensure that you always have enough inventory on hand to meet demand, while minimizing inventory costs. So, how do you determine what the unit count for the reorder point should be?

How To 52

How To Inventory Reduction Supply Chain Software eCommerce 52

EazyStock

OCTOBER 20, 2020

Inventory Control Techniques that use Stock Optimization Best Practices. There are hundreds of inventory control blog posts on how to organize warehouses, track goods and pick and pack efficiently. Firstly, let’s get a few definitions: What is inventory control? 6 Inventory Control Techniques to Optimize Stock Levels.

Inventory Reduction 98

Inventory Reduction Optimization Software Optimization Modeling Inventory 98

EazyStock

MAY 24, 2022

Often, businesses focus on inventory management from a supply chain perspective – holding enough stock to meet customer demand and hitting fulfillment targets. This post, however, will focus on the financial aspect of inventory: inventory value – taking an accountant’s view of how to manage stock effectively.

Inventory Reduction 52

Inventory Reduction Inventory Material Savings Purchasing Skills 52

EazyStock

JUNE 23, 2021

When finished goods are built from a set of components, a Bill of Materials (BOM) is extremely useful for inventory management purposes. BOMs are extremely important for inventory management teams as they allow them to forecast and order the correct quantities of each component required to make up the final product. Lead times.

Supply Chain Planning Software 52

Supply Chain Planning Software Material Savings Inventory Reduction Inventory 52

EazyStock

NOVEMBER 17, 2020

What is ERP inventory management? Many organizations have an enterprise resource planning (ERP) system to collect, store, manage and interpret data from a host of different businesses processes. ERP inventory management limitations. ERP inventory management needs sophisticated demand forecasting.

ERP 98

ERP Inventory Reduction Inventory Optimization Software 98

3PL Links

JANUARY 31, 2023

7 Best Tips for Inventory Management To Avoid Losses | Image source: AR Racking Inventory management is likely the most crucial success component if you sell products through an online store. Read also: How to Manage a Warehouse: The 10-Step Guide to Logistics Management What is Inventory Management?

Inventory Reduction 62

Inventory Reduction Inventory Tips Expense Reduction 62

Logistics Viewpoints

JUNE 9, 2022

Transparent data prepared especially for your logistics operation will get you easily through your peaks. This warehouse runs at a perfect optimum with fixed capital in the form of inventory balanced perfectly with sales and purchasing, and all the items perfectly distributed to the various storage areas of the warehouse.

Optimization Software 135

Optimization Software Logistics Network Optimization Software Supply Chain Planning Software Modeling Software 135

Stord

APRIL 11, 2022

The out-of-stock sticker shock we experienced in the past few years is forcing retailers to take a hard look at how they plan inventory. Why Has Inventory Been so Hard to Come By? Near the start of the pandemic, the inventory-to-sales ratio in the U.S. This approach would have an inventory-to-sales ratio of close to 1.0.

Inventory Reduction 78

Inventory Reduction Inventory Manufacturing Procurement Purchasing Skills 78

Ship Monk

FEBRUARY 9, 2024

Demand forecasting is the process of estimating how many units of each product you’ll need to cover demand for a given sales period, without running out of stock or having to take excessive post-holiday markdowns. All of them rely on data, whether you’re using historical data or new findings gathered from consumer research.

eCommerce 84

eCommerce Inventory Reduction Operations Modeling Software 84

EazyStock

JANUARY 21, 2021

EazyStock is one such add-on that helps customers in need of more advanced inventory forecasting, planning and replenishment. In this post we’re going to review Dynamics Business Central’s inventory management capabilities and discuss what additional features and benefits EazyStock can offer. Manage non-stocked items.

Inventory 52

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

3PL Links

DECEMBER 3, 2023

Predictive Analysis in Logistics and Supply Chain: How to Apply | Image source: Pexels In logistics, predictive analysis is simply the process of identifying and forecasting patterns, trends, and behaviors in both human and machine learning approaches, data, and algorithms.

Supply Chain Planning Software 48

Supply Chain Planning Software Optimal Sourcing Analysis Supply Chain Software 48

Camelot 3PL Software

JANUARY 14, 2021

But it is possible to reposition inventory to better respond to such events. When inventory has been pre-positioned in readiness for disasters, it can support the third-party organizations that respond and assist communities. It may be impossible to ensure your business or organization is entirely natural disaster-proof.

Inventory 52

Inventory Supply Chain Planning Software How To Procurement Analytics 52

EazyStock

JANUARY 31, 2022

Inventory Management KPIs for Effective Inventory Analysis. Managing inventory is a complex business. Inventory management KPIs are important as they help analyze and track the performance of inventory management activities such as how stock is ordered, managed and turned. Inventory turnover ratio.

Inventory Reduction 52

Inventory Reduction Inventory Analysis Optimization Software 52

Ship Monk

JUNE 8, 2022

Learning how to manage inventory is one of the biggest challenges of owning an eCommerce business. There are many different models for forecasting inventory , and plenty of textbooks written on the subject. Many companies use the EOQ model to manage inventory more efficiently while simultaneously minimizing inventory costs.

Inventory Reduction 52

Inventory Reduction Inventory eCommerce Ordering 52

Logistics Business Magazine

MARCH 24, 2021

Big data presents supply chain and warehouse managers with an unprecedented opportunity to acquire real-time visibility of goods in transit and part of inventory, writes Tony Dobson -SnapFulfil CEO. There’s plethora of data in the warehouse now, with lots of dashboards to present the figures, but information overload is happening.

Data 74

Data Supply Chain Software Logistics Network Optimization Software Presentation 74

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 51

Analysis Inventory Reduction Inventory Procurement Solutions 51

Logistics Viewpoints

APRIL 19, 2023

Second, what is autonomous planning in supply chain, and what are some practical examples? And finally, how does a company achieve autonomous planning? Then there’s the question of how much to hold at the central warehouse to replenish the MFCs as well as how to dynamically allocate receipts at the cross-docks.

Supply Chain Planning Software 132

Supply Chain Planning Software Optimal Sourcing Scenario Planning Manufacturing Procurement 132

FreightWaves SONAR

JUNE 5, 2023

Lack of data, lack of conviction and lack of organizational agility all conspire to keep companies from recognizing medium-term opportunities and challenges and responding decisively. It’s hard to find good data that provides a view into the next few months of consumer behavior and economic activity.

Supply Chain Planning Software 52

Supply Chain Planning Software Scenario Planning Data Freight 52

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. The main lack of talent is in middle management, especially in big data analytics and supply chain planning, where the shortage is around 54%. Sea Change—A Supply Chain Career is now seen as ‘Cool’.

Supply Chain Planning Software 115

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

Blue Grace Logistics

NOVEMBER 3, 2022

How to Prepare an Efficient Transportation Budget Show Submenu Resources. Learn how to build your shipping budget correctly. How to define your transportation needs. For example, if you’re a retailer and you’re exiting the year with bare shelves, that’s great! Clean Data = Better Transportation Budget Decision Making .

Efficiency 62

Efficiency How To Transportation Optimization Modeling 62

FourKites

DECEMBER 23, 2020

Cost control measures in supply chain efficiency should address three major areas: labor, inventory and transportation. Inventory, raw materials and finished goods. Here’s how: 1: Maximize Labor Efficiency. 2: Right-size Your Inventory. 4 Supply Chain Efficiency Measures to Improve Productivity.

Supply Chain Planning Software 52

Supply Chain Planning Software Supply Chain Software Inventory Reduction Waste Reduction 52

Logistics Bureau

JULY 18, 2022

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 levels. Then, you can analyse your current supply chain capabilities using the research results and your data concerning customer needs.

Inventory Reduction 106

Inventory Reduction Resource Reduction Vendor Strategies Cost Reduction 106

EazyStock

NOVEMBER 19, 2021

If you carry too much inventory, you risk tying-up much needed working capital. Safety stock is defined as inventory that is carried to prevent stock-outs caused by fluctuating customer demand, forecast inaccuracies or variability in supplier lead times. Let’s introduce Mary’s Plumbing Warehouse as an example.

How To 52

How To Inventory Reduction Inventory Optimization Modeling 52

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