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.

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EazyStock

MARCH 4, 2021

A basic form of inventory categorization is ABC analysis. With ABC analysis, you group products based on one dimension: value. In these situations you have to think smartly and weigh the costs against each other for replenishment. A items are the most valuable to the business, B items less valuable and so on.

Optimal Sourcing 59

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EazyStock

JUNE 16, 2022

For example, navigation apps, facial recognition, smart assistants, and even robot vacuum cleaners at home use this smart tech. Using algorithms, AI can provide better quality data and analysis to give a complete overview of your warehouse and supply chain. AI was once only seen in science fiction. Machine learning in warehouses.

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EazyStock

JULY 13, 2020

You can then prioritize these items over others; for example, checking demand, stock levels and reviewing lead times more frequently to help ensure availability at all times. You simply load your list of critical items into the system so you can easily monitor them more closely and set individual replenishment parameters.

Supply Chain Planning Software 52

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EazyStock

FEBRUARY 7, 2020

For example, some will be at the growth stage with either positive demand or ‘fast’ demand e.g. selling a steady volume. ABC analysis is a simple way to categorize inventory, so you can stock more category ‘A’ items that sell well and have a good profit margin, versus ‘C’ items that have a low sales rate and bring less value to the business.

Inventory Reduction 52

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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. Introducing ABC analysis to categorize your stock would help identify these so you can prioritize your time. These KPIs can easily be calculated in a ‘risk of stockout’ spreadsheet.

Inventory 52

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EazyStock

APRIL 18, 2023

For example, warehouse costs, insurance and financing. One way to do this is with ABC/XYZ analysis. Adding automation to your purchasing processes allows you to work with a lower fixed-cost base, master your replenishment and save on stock-holding costs. Higher costs of storage.

Supply Chain Planning Software 52

Supply Chain Planning Software Supply Chain Software Inventory Reduction Optimal Sourcing 52

EazyStock

APRIL 13, 2022

This will provide maximum analysis and understanding of your current setup and support sales and operations planning. For example, having more accurate demand forecasting, warehouse automation, diversifying your supplier network or bringing new technologies on board to give you real-time data. Purchasing.

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EazyStock

AUGUST 9, 2022

Some also produce picking lists and dispatch notes, and offer support with replenishment calculations. For example, do you need an ERP upgrade and replacement when reviewing your ERP? Book a demo to find out how to save valuable inventory management team time and resources for analysis and strategic decisions.

Supply Chain Planning Software 52

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Blue Grace Logistics

JUNE 21, 2018

Transportation Management Workflow may be defined as a supply chain workflow that connects and links the various parties involved along the chain from, for example, the seller’s warehouse to the buyer’s warehouse. One needs to do extensive and thorough data analysis of all current costs within the transportation and logistics silos.

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