EazyStock

JUNE 24, 2020

Even sophisticated Enterprise Resource Planning (ERP) or Warehouse Management Systems (WMS) rely heavily on users manually inputting forecasting and replenishment parameters to automate any form of reordering alerts. For example, highlighting unusual dips in demand or longer than expected lead times. The process is endless.

Procurement Solutions 98

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EazyStock

OCTOBER 20, 2020

ABC analysis is a good inventory control technique to segment your warehouse stock based on the value it brings to the company. ABC analysis, will help with this. For example, you should consider setting different service levels, safety stock levels and reordering parameters for each category. Know your star products!

Inventory Reduction 98

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FreightWaves SONAR

SEPTEMBER 29, 2023

For example, as seen in scenario A1, the global unconstrained demand for air cargo will fall by 14% of pre-crisis volumes in the second quarter of 2020 and will not rebound to 2019 levels until around mid-2022.” Using data, supply chains could better plan replenishment orders, avoid congestion and prevent further disruption.

Data 52

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Logistics Viewpoints

JANUARY 26, 2024

Emergency vehicles, for example, would be exempt, and the California Highway Patrol could authorize the system’s disabling in certain other cases. CargoNet’s analysis of fourth-quarter 2023 data showed a 68% year-over-year increase compared with 2022.

Logistics Network Optimization Software 139

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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. As an example of how illuminating the perfect order KPI can be, let’s look briefly at damage-free delivery as an example. x 0.96 = 0.8661.

Supply Chain Design Software 95

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EazyStock

FEBRUARY 26, 2020

Introducing inventory optimization methods to your inventory management practices ensures that supply and demand volatility is considered when setting your demand forecasts, stock levels and replenishment parameters. ABC analysis is a simple way to segment your stock based on its value to the business.

Availability 52

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EazyStock

FEBRUARY 1, 2021

For example: With such different demand patterns, it doesn’t make sense to treat every product the same. In each case the future demand forecasting, replenishment and safety stock calculations need to be treated differently. Accurate eCommerce inventory replenishment. You can then define their corresponding service levels.

Inventory Reduction 52

Inventory Reduction Optimization Software eCommerce Inventory 52

SYSPRO Smarter ERP

DECEMBER 19, 2022

The Economist has mentioned the role of AI in inventory management and demand forecasting, noting an example where AI can forecast in what order items will arrive at and leave a warehouse, so that pallets can be put in the right position. Challenges of IO and AI. Inventory management is not just about shipping goods to customers.

Inventory Reduction 105

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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

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EazyStock

FEBRUARY 18, 2020

Let’s take a look at an example. In the example above, the EOQ determined that the warehouse would be placing orders for fidget spinners approx. In our example, the demand for fidget spinners was 15,000 per year, and EOQ was approx. C o = cost per order. C h = cost of holding per unit of inventory. 1,096 units per order.

Ordering 95

Ordering Purchasing Skills How To Inventory 95

SYSPRO Smarter ERP

DECEMBER 19, 2022

The Economist has mentioned the role of AI in inventory management and demand forecasting, noting an example where AI can forecast in what order items will arrive at and leave a warehouse, so that pallets can be put in the right position. Challenges of IO and AI. Inventory management is not just about shipping goods to customers.

Inventory Reduction 98

Inventory Reduction Supply Chain Planning Software Inventory Scenario Planning 98

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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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. We need to try to penetrate that. This is pretty useless information, to be honest.

Logistics Network Optimization Software 68

Logistics Network Optimization Software How To Supply Chain Design Networks 68

Globalior

APRIL 23, 2021

Let’s look at 3 examples. For example, this could be utilized when a spike in orders occurs or in case of a delay in delivery by suppliers. As soon as you reach a certain level of stock, you should replenish or restock items. 3 ways warehouse inventory can be classified. Functional stock categorization. Seasonal stocks.

Inventory Reduction 52

Inventory Reduction Inventory Material Savings Waste Reduction 52

Logistics Business Magazine

AUGUST 11, 2020

Forecasting and replenishment formulas that use historic consumption or average stock days are only effective when demand and lead times remain static and the only way for the user to consider any variance is to continually update their calculations.

Inventory Reduction 68

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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.

Supply Chain Software 52

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Logistics Viewpoints

MAY 11, 2023

For example, they can test the effect of increasing or decreasing safety stock levels or changing the replenishment frequency of certain products. And if you are looking at any of these tools, do analytics (such as forecasting, order completion time prediction, ‘what-if’ analysis & simulation, etc.)

Optimization Software 142

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EazyStock

AUGUST 21, 2020

While these stats will vary to some degree, this is the theory behind ABC inventory analysis – a model that can be used to categorize your stock. Using ABC analysis, you can classify your inventory items into three groups based on their value to the business. For most companies 80% of their revenue comes from 20% of their stock.

Inventory Reduction 52

Inventory Reduction Cost Reduction Price Reduction Resource Reduction 52

MTS Logistics

AUGUST 15, 2022

For example, even earlier this year, every importer was scrambling to find container space at premium levels and bring goods into the U.S. Importers would want to replenish their inventories prior to the Chinese New Year which falls on the last week of January 2023 this year. This demand seemed to be never ending.

Supply Chain Software 90

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Turvo

AUGUST 31, 2021

With all the volatility that still lingers in the modern supply chain, the need for high-quality data analysis, solid procurement planning, good profit margins , and streamlined scheduling systems all remain crucial for shipping and transportation providers.

Supply Chain Planning Software 59

Supply Chain Planning Software Procurement Solutions Optimal Sourcing Procurement 59

Talking Logistics

SEPTEMBER 4, 2018

Example A: Fashion Retailer – Business Strategy is short life cycle products. Example B: Supermarket Retailer – Business strategy is to have low cost to compete effectively. Example C: Oil & Gas – Products and services are diverse. Replenishment. What does it mean for inventory? Faster turn over. Manufactured Goods.

Inventory Reduction 69

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FreightWaves SONAR

MARCH 9, 2021

The analysis of that data helps companies identify reliable insights based on what’s happening today and yesterday, not just what happened last week. Obviously, that’s only one example, but it shows the value of insight and using data that’s available now. .

Data 98

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Logistics Bureau

NOVEMBER 6, 2023

For example, could some areas of your warehouse be adapted via racking optimisation to store higher inventory volumes? For example, you could reduce human labour by deploying robotic equipment or other forms of direct automation. LMS applications can help with real-time workforce tracking, performance analysis, and scheduling.

Cost Reduction 106

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EazyStock

FEBRUARY 18, 2020

Let’s take a look at an example. In the example above, the EOQ determined that the warehouse would be placing orders for fidget spinners approx. In our example, the demand for fidget spinners was 15,000 per year, and EOQ was approx. C o = cost per order. C h = cost of holding per unit of inventory. 1,096 units per order.

Ordering 52

Ordering Purchasing Skills How To Inventory 52

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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SYSPRO Smarter ERP

NOVEMBER 3, 2021

They are part of the quality management process and require an analysis of the top factors that drive returns to determine where interventions are required in the process. They are used to measure how effectively the warehouse processes of receiving, replenishment, fulfilment and shipping perform. Warehousing KPIs.

Manufacturing Procurement 105

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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

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EazyStock

MARCH 26, 2018

In Microsoft Dynamics NAV for example, you can set values for reorder points and safety stock levels. You will get notified when you need to replenish, have outliers, or run the risk of a stock out. This includes stock health analysis, service levels and stock turn. Inventory Management and forecasting in your ERP.

ERP 72

ERP Inventory Reduction Inventory Optimal Sourcing 72

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

Inventory Reduction Optimal Sourcing Inventory Optimization Software 52

Logistics Bureau

JANUARY 18, 2021

One-way flow is a really good principle to apply during the design process because it allows you to plan your picking path through the warehouse as well as your replenishment paths. Sometimes the volume stays the same but the SKUs increase, as highlighted by the following example. 8) Know Your Data.

Supply Chain Design Software 118

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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. Data analysis is a key component of this position.

Supply Chain Planning Software 115

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EazyStock

NOVEMBER 21, 2019

For example, sales transactions that result from a flash clearance sale do not represent typical demand for a given period. In the example above, the orange line going forward reflects this decision. However, it’s possible to use software to carry out the analysis for you. Deciding How to Handle Outliers.

Optimization Software 40

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EazyStock

JANUARY 21, 2021

EazyStock is one such add-on that helps customers in need of more advanced inventory forecasting, planning and replenishment. Microsoft encourages Dynamics BC users to manually categorize their stock items using a simple ABC analysis model. Microsoft Dynamics 365 Inventory Management Features. Working with Service Levels.

Inventory 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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Ship Monk

APRIL 6, 2023

Her rates are through the roof, her attitude toward supporting and learning has been increasing for weeks, and she has learned the app in record time to the point of being able to perform movement analysis. She can really make a difference in Replenishment, Picking, Wholesale, anywhere. We also honor Danna in our MX fulfillment center.

Buyer Training 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

NOVEMBER 17, 2020

This can include statistical demand forecasting , advanced inventory planning and automated replenishment activities. Can you recognize the warning signs that your business needs automated inventory planning and replenishment ? Automated replenishment is critical to ERP inventory management.

ERP 98

ERP Inventory Reduction Inventory Optimization Software 98