SYSPRO Smarter ERP

AUGUST 17, 2022

Manufacturers and distributors can optimize their inventory management using some of the latest emerging technologies, including machine learning, data analytics, artificial intelligence, and cloud computing. Using proven inventory management processes, supply chain design, and planning helps optimize your stock.

Optimal Sourcing 105

Optimal Sourcing Optimization Software ERP Inventory Reduction 105

SYSPRO Smarter ERP

JULY 3, 2023

What is Machine Learning ML is the computing engine behind AI and gives computers the ability to make sense of, and learn, from data to perform specific tasks without manual interference. Nine areas where AI can help manufacturers There are several ways in which data and AI can be applied in the manufacturing industry. The Industry 4.0

Manufacturing Procurement 98

Manufacturing Procurement Optimal Sourcing Data Optimization Software 98

SYSPRO Smarter ERP

MAY 4, 2022

Complete halts result in backlogs and delays, which will impact warehouses and more importantly, their inventory management. Inventory takes many forms, ranging from raw materials to finished goods. Inventory exists because a buffer is needed to balance out the uncertainties between demand and supply. Survey findings.

Inventory Reduction 105

Inventory Reduction Inventory Supply Chain Planning Software Supply Chain Software 105

SYSPRO Smarter ERP

FEBRUARY 2, 2022

Manufacturers have incurred significant financial losses due to supply chain disruptions and the subsequent inventory management challenges. Companies struggling to manage their supply chains often lack data for decision making, have siloed systems and inefficient inventory management practices. Effective data management.

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Manufacturing Procurement Inventory Reduction Inventory Optimal Sourcing 105

Logistics Viewpoints

JUNE 1, 2021

Why should we consider Promotion Planning in Inventory Management? Whether it be e-commerce, brick-and-mortar, or both, retail companies care about the inventory they keep. During promotional management, especially for big events around special days and holidays, inventory levels need to be adjusted to meet the peaks in demand.

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Supply Chain Planning Software Inventory Reduction Optimal Sourcing Inventory 111

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

SYSPRO Smarter ERP

DECEMBER 13, 2021

Inventory management was moving towards a just-in-time approach until the supply disruptions of the last year. Whatever inventory management methodology is chosen, the realization that supply chains are vulnerable will require a re-assessment of practices and KPIs in order to keep goods flowing in a predictable and manageable way.

Inventory Reduction 122

Inventory Reduction Inventory Sourcing Strategies Supply Chain Planning Software 122

3PL Links

MARCH 11, 2024

Top 6 Most Important Inventory Optimization Strategies | Image source: Shipdepot Decreased output, unanticipated expenses, and delivery delays are just a few of the issues that can occur from a lack of inventory management. Discover six strategies for inventory optimization if your firm has been dealing with similar issues.

Inventory Reduction 48

Inventory Reduction Optimal Sourcing Expense Reduction Cost Reduction 48

Ship Monk

MAY 19, 2023

How much is your inventory worth? The most common inventory valuation methods are FIFO, LIFO, Weighted Average, and Specific Identification. In previous blog posts, we discussed the FIFO method and Weighted Average method in detail. What is the LIFO Inventory Valuation Method?

Inventory Reduction 52

Inventory Reduction Inventory Purchasing Skills Cost Reduction 52

Ship Monk

JULY 21, 2022

Perpetual inventory. Well, a perpetual inventory system does constantly monitor the flow of products in and out of your warehouse, but there’s a bit more to managing the inventory than that. What is a Perpetual Inventory System? Perpetual Inventory vs. Periodic Inventory. That sounds promising, doesn’t it?

Inventory 52

Inventory Logistics Network Optimization Software eCommerce 3PL 52

GlobalTranz

SEPTEMBER 11, 2017

While analytics offer remarkable insights into supply chain inventory optimization, warehouse managers must still understand how the use of slotting optimization technology impacts other processes. Siloed Data Must Be United for True Supply Chain Inventory Optimization. Siloed data and disparate systems skew analytics results.

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Supply Chain Design Software Inventory Reduction Optimization Software Supply Chain Software 153

Blue Grace Logistics

MARCH 26, 2024

What you will learn in this blog: Leveraging Data Analytics For Invaluable Insights Implementing Lean Principles for Waste Reduction Effective Management Of Supply Chain Costs As companies navigate market fluctuations and challenges, effectively managing supply chain expenses becomes pivotal for success.

Negotiating Skills 97

Negotiating Skills Cost Reduction Waste Reduction Inventory Reduction 97

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

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

JULY 22, 2021

Demand forecasting techniques play a critical role in inventory management. However, producing an accurate inventory demand forecast is no mean feat. But first – let’s get a definition: What is inventory demand forecasting? The Importance of Accurate Inventory Forecasting. Inventory Forecasting: Demand Types.

Inventory Reduction 105

Inventory Reduction Inventory Optimization Software Procurement Solutions 105

3PL Insights

AUGUST 16, 2021

Big data is only useful if you understand the metrics and can connect them to the important areas of your business. But how do we turn inventory management data and other key metrics into business intelligence? Account Activity Data. Account Activity Data. The account activity looks at inventory patterns.

Data 98

Data Supply Chains Inventory Reduction Inventory 98

Ship Monk

SEPTEMBER 14, 2022

There are a lot of accounting terms thrown around when describing eCommerce inventory: merchandise inventory , WIP inventory , ending inventory , and beginning inventory to name just a few. What is Beginning Inventory? By inventory , we mean finished goods that are on hand and ready to sell.

Inventory Reduction 80

Inventory Reduction Inventory Purchasing Skills Manufacturing Procurement 80

Blue Grace Logistics

JUNE 27, 2023

based non-asset-based 3PL BlueGrace Logistics, pointed to variation across some key metrics, including revenue, inventory levels, and order levels, with a forward-looking slant. Markets could be driven by increased consumer demand or increased sales/promotions to clear stagnant inventory, or both.

Inventory 62

Inventory Ordering Logistics Network Optimization Software Industry 62

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. How to Choose Inventory Management KPIs.

Inventory Reduction 52

Inventory Reduction Inventory Analysis Optimization Software 52

Blue Grace Logistics

APRIL 1, 2024

LLMs fueling data-driven decision-making LLMs have stormed the tech landscape in recent years, and their applications in supply chain management are nothing short of transformative. The answer lies in data. In the ever-evolving world of logistics, data reigns supreme.

Optimal Sourcing 118

Optimal Sourcing Supply Chain Software Optimization Software Supply Chain Planning Software 118

Ship Monk

AUGUST 22, 2022

In our eCommerce fulfillment blog we sometimes highlight industry jargon that’s essential for every entrepreneur. 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. Today, we’re talking about SKUs, also known as Stock Keeping Units. What is a SKU?

Inventory Reduction 52

Inventory Reduction eCommerce Inventory 3PL 52

SYSPRO Smarter ERP

JANUARY 9, 2023

Manufacturers increasingly turning to data and analytics, from an ERP system, to support business initiatives. Data is after all the fuel that runs the Fourth Industrial Revolution. Challenges to using data. Many manufacturers are data-rich but when it comes to using it they are insight-poor.

Manufacturing Procurement 111

Manufacturing Procurement ERP Data Logistics Network Optimization Software 111

3PL Links

AUGUST 23, 2023

8 Best Practices for Efficient Inventory Management | Image source: Pexels Maintaining control over the inventory of items is crucial to ensuring a healthy sales volume and, consequently, reducing operating costs. Read also: Everything You Need to Know About Inventory Management 4. Continue reading to learn more!

Sourcing Strategies 48

Sourcing Strategies Inventory Reduction Inventory Efficiency 48

EazyStock

MARCH 9, 2021

ABC inventory analysis is a method used to classify a business’s stock items into three categories – A, B and C, based on their value to the business. ABC inventory analysis is important as it helps managers focus their time on their most valuable/important products and adapt their inventory control policies accordingly.

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Analysis Inventory Optimization Software Procurement Solutions 83

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

EazyStock

JUNE 24, 2020

Common challenges include unpredictable customer behavior, unreliable inventory supplies, rising logistical costs and internal capacity constraints. Inventory optimization software is an important piece of the puzzle. It is critical to helping inventory management teams understand and manage demand and supply variables.

Procurement Solutions 98

Procurement Solutions Inventory Reduction Inventory Supply Chain Planning Software 98

GoShip Blog

FEBRUARY 9, 2021

Inventory discrepancies are becoming a costly issue for businesses. Essentially, more orders and transactions increase the chance for errors, so inventory accuracy is critical. How do you achieve higher inventory accuracy? Upgrade your inventory management software. Review your warehouse strategy. Control and consistency.

Inventory Reduction 98

Inventory Reduction Cost Reduction Inventory Optimization Software 98

SYSPRO Smarter ERP

NOVEMBER 30, 2021

Forced to implement protective measures through the pandemic, some companies increased overhead by stock piling inventory which negatively affects both cash flow and profits. Manufacturers can use forecasting to support inventory optimization. Managing Inventory. labor, materials and warehousing, to IT, freight and safety.

Supply Chain Planning Software 105

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

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

Stord

APRIL 24, 2024

From improved customer experience to greater inventory planning and forecasting, AI promises to make all of our lives easier and reduce those all-too-common supply chain headaches. Specific industries measure specific KPIs, and AI is an easy way to pull data in and get real, usable and actionable metrics back.

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Supply Chain Planning Software Supply Chain Software Logistics Network Optimization Software Optimization Software 88

FreightWaves SONAR

JULY 10, 2023

Businesses are prioritizing the speed of data propagation within their supply chains. According to Gold, NRF members have made significant investments in data analysis to improve their ability to predict consumer demand to prevent bloated inventory levels that many large retailers experienced around this time in 2022.

Data 52

Data Supply Chain Planning Software Manufacturing Procurement Supply Chain Software 52

EazyStock

DECEMBER 13, 2020

Optimize Inventory. Start with a detailed overview of what inventory is currently in your supply chain. Having a transparent and detailed account of what inventory you are currently holding will help you optimize your inventory levels while allowing you to be responsive to market demand.

Inventory Reduction 98

Inventory Reduction Sourcing Strategies Supply Chain Planning Software Cost Reduction 98

3PL Links

OCTOBER 4, 2023

Unlock Success: 3 Expert Tips to Skyrocket Your Inventory Turnover Rate | Image source: Pexels Inventory turnover is one of the many measures of a company’s productivity. The average time it takes for your organization to sell the stock it has on hand or the time it takes to replace its inventory, is known as inventory turnover.

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Inventory Tips Negotiating Skills Sourcing Strategies 48

EazyStock

OCTOBER 10, 2018

Big data is a term used to describe a massive volume of both structured and unstructured data that’s too large to be processed using traditional database and software techniques. In most enterprise scenarios, the volume of data is too big, moves too fast and exceeds processing capacity of existing applications.

Inventory Reduction 45

Inventory Reduction Supply Chain Planning Software Inventory Modeling Software 45

Blue Grace Logistics

FEBRUARY 26, 2024

What you will learn in this blog: Understanding Transportation Strategy The Impact Your Strategy has on Business Profitability Optimizing Your Strategy for Profitability Whether you’re a small local retailer or a multinational corporation, how you move goods from point A to point B can significantly impact your bottom line.

Inventory Reduction 62

Inventory Reduction Cost Reduction Waste Reduction Expense Reduction 62

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.

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Supply Chain Planning Software Scenario Planning Data Freight 52

FreightWaves SONAR

SEPTEMBER 29, 2023

The COVID-19 crisis unveiled major issues within global supply chains and, as we have seen with SONAR freight data, volatility in the market. For those that make the right applications of freight data, the massive problems created by the pandemic could have been more easily mitigated.

Data 52

Data Inventory Reduction Supply Chain Planning Software Vendor Strategies 52