Remove Data Remove Examples Remove Inventory Remove Tools
article thumbnail

Beware the Swinging Pendulum on Supply Chain Inventory Practices

Logistics Viewpoints

Supply shortages resulting in empty shelves or parking lots of WIP inventory represent a spectre causing supply chain leaders to reconsider supply chain inventory practices. Opinion of just-in-time (JIT) as a practice has taken a battering and inventory is rising. Is supply chain inventory the problem?

article thumbnail

Supply Chain Design: A Tool to Help Maximize Value

Logistics Viewpoints

A company can choose to maintain a high level of costly inventory to ensure short lead times, and a family can decide to live farther away from work and school but buy a bigger house. To solve this problem, we’ll need to do three things: understand the data, aggregate the data, and define the constraints.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Ecommerce Inventory Management: Challenges & Solutions

Logistics Bureau

Effective inventory management has become increasingly crucial for businesses in this fast-paced and rapidly evolving era of ecommerce. Moreover, the ecommerce explosion has brought new and unique challenges that complicate inventory management for enterprises selling online.

article thumbnail

Data-driven decision making in manufacturing

SYSPRO Smarter ERP

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.

article thumbnail

Why manufacturers should integrate business intelligence tools into their ERP software

SYSPRO Smarter ERP

Manufacturers rely on data and their ERP platform to answer critical questions: What are our inventory levels? Here’s an example. After all, data is the foundation of digital transformation, and according to McKinsey the pandemic caused companies to accelerate their digital transformation plans by three to four years.

article thumbnail

8 Best Inventory Demand Forecasting Techniques

EazyStock

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.

article thumbnail

FedEx Works to Monetize their Big Data

Logistics Viewpoints

Google and Twitter mainly monetize the data through targeted advertising. The value of the data captured by Google and Twitter has made them the darlings of Wall Street. But it turns out big logistics firms also generate Big Data, and they are also working to monetize this data. We have always been good at capturing data.

Data 140