article thumbnail

4 Ways to Enhance Warehouse Efficiency with Prescriptive and Predictive Analytics

Logistics Viewpoints

While predictive analytics seeks to answer questions such as “what might happen in the future,” prescriptive analytics goes beyond by recommending the best course of action going forward. Restock/Replenishment Planning – Maintaining optimal inventory levels is crucial to meet customer demands without overstocking.

article thumbnail

Driving Rigor into Your Inventory Control Practices Helps You Win the Race

Logistics Viewpoints

Is a replenishment strategy needed? The replenishment logic and smooth execution of inventory moves will keep pickers executing without waiting time. Slotting logic will keep required levels of stock in the picking locations, limiting the need to stop picking to replenish inventory needed to complete the orders.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Top 8 Applications of Artificial Intelligence in The Supply Chain

3PL Links

Artificial intelligence makes it possible to monitor several elements that affect the forecast, including: control of purchases in real-time; consumption parameters; items that are being sold and need quick replenishment. inventory management helps the company not lose sales, prevents/reduces waste, and reduces expenses.

article thumbnail

Automation Hero May 2020: Ulf Larsson from Copiax

EazyStock

Our inventory of about 10,000 items was largely controlled manually, and we were using ‘rule of thumb’ for replenishment. Of course, it’s nearly impossible to accurately monitor inventory availability and minimize capital investment with such a large portfolio. How has automation with EazyStock helped Copiax?

article thumbnail

Beat your transportation budget this year without sacrificing service

FreightWaves SONAR

Of course, truckload rates aren’t priced according to national averages — details like the origin and destination, time of year, time of week, weight, and unloading procedures all factor in how freight gets priced.

article thumbnail

Top 6 Supply Chain KPIs: Keep Your Dashboards Simple

Logistics Bureau

“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. This KPI tells you the number of days your inventory would last without replenishment, before running out. Use weekly, monthly, and year-on-year data for your analysis.

article thumbnail

40 million sq. ft. of new UK warehouse space in 2021

Logistics Business Magazine

Due to robust levels of take up, the level of availability, particularly of high-quality space, has diminished over the course of 2020 and this is driving development. Knight Frank analysis shows that every billion pounds of online sales requires approximately 1.36 In 2020 online sales accounted for 27.9% in January 2021. million sq.