Ship Monk

NOVEMBER 21, 2022

This article will explain what reorder points are and show you how to calculate them. How to Calculate a Reorder Point. How to Calculate Demand During Lead Time. Improving Data. Demand forecasting and inventory management rely on accurate data. What is a Reorder Point? There’s a formula for that!

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CH Robinson Logistics

DECEMBER 15, 2021

However, with this year’s volatility, I was also given a front-row seat to a new level of hyper collaboration – including individuals going out of their way to help each other, more strategy sessions between shippers and forwarders, and continually leaning into historical data and current market insights to find smarter solutions.

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EazyStock

MARCH 22, 2022

Fluctuating demand and supply volatility have made accurate demand forecasting even more challenging for two reasons: Using last year’s sales data as a base for forecasts is a ‘no go’, as demand fluctuations due to the pandemic skew the data. How to overcome demand forecasting challenges. Use appropriate historical data.

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EazyStock

FEBRUARY 1, 2021

Here are ways you can optimize your inventory management practices for eCommerce competitiveness: How to Manage eCommerce Inventory. Using historical demand data alone is not enough to predict your future demand and prevent stock outs – especially when markets are unpredictable and you carry items with erratic and sporadic demand.

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Stord

MARCH 24, 2020

Inventory replenishment becomes a challenge as a result and you risk not being able to fulfill customer orders or reorder from the manufacturer. So how do you prevent inventory stockouts when your demand forecasting didn’t allow for an event like COVID-19? What SKUs sell out the fastest in that region?

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GlobalTranz

JUNE 2, 2015

The company focuses on high tech industries such as telecome , data storage, data centers, bio-medicine, and any company who needs supply chain visibility and proactive supply chain services for replacement parts and more. This can also help you decide how to manage new items that are new to your business or to your inventory.

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GoShip Blog

DECEMBER 23, 2022

When this happens, many small business owners sell unavailable items on backorder and ship them to the customer after replenishing their inventory. How to Reduce Backorder? The most obvious way to minimize backorders is by replenishing your stock regularly. Out-of-stock vs backorder. Communicate with Manufacturers and Suppliers.

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RPA Labs

OCTOBER 28, 2021

High error rate due to outdated information and decisions based on inaccurate data. Poor data processing time leads to delays and backlogs, and scheduling conflicts. Logistics Process Workflow Automation Saves Back-Office Resources and Streamlines Replenishment.

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EazyStock

NOVEMBER 18, 2019

Companies that have not accurately forecasted a decline in demand or effectively reduced their stock replenishment policies often times are left with large quantities of obsolete stock in their warehouses. How to Reduce Excess & Obsolete Inventory. In this stage of the product life cycle, there is no market demand for the product.

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Logistics Bureau

NOVEMBER 16, 2020

The main lack of talent is in middle management, especially in big data analytics and supply chain planning, where the shortage is around 54%. Certified Supply Chain Professional : Learn how to develop streamlined supply chain operations. And don’t be afraid to ask their advice on how to start out in the industry. Data Managers.

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EazyStock

DECEMBER 13, 2021

A basic risk of stockout spreadsheet can be easily set up using the following data: Current stock items, items on order and in transit. Ensuring your Data is Accurate and Up-to-Date. EazyStock takes a feed of your current stock data and uses historical sales to forecast upcoming demand. Demand forecasts. Lead times.

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EazyStock

MAY 11, 2021

The graph below illustrates how 80% of a company’s sales revenue comes from 20% of their stock items: ABC analysis & The Pareto Rule for inventory management. How to Calculate ABC Classification. Here is a working illustration of how to divide your inventory using annual consumption value.

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FreightWaves SONAR

MARCH 23, 2021

And rather than waiting until things go wrong, shippers, carriers and brokers can apply these seven last-minute thoughts can help bring to light what strictly a business should focus on and how to apply predictive rates to measure the likelihood of improved operations. Download the White Paper.

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Logistics Viewpoints

JUNE 7, 2021

When companies implement a demand management or replenishment system, the goal is usually to improve customer satisfaction while holding less inventory. The implementation also involves leveraging weather data to improve forecasting. This data leads to a better baseline forecast. Pinnacle Propane Delivery to a Farm.

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EazyStock

OCTOBER 23, 2020

With accurate demand forecasts that account for seasonality, you can optimize stock levels and make informed decisions on safety stock levels and replenishment rules. How to forecast for seasonal demand. The post How to Manage Seasonality of Demand to Increase Forecasting Accuracy appeared first on EazyStock.

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EazyStock

FEBRUARY 7, 2022

However, calculating future stock levels and demand forecasts manually can be very time-consuming, and if your forecasts and/or stock data are inaccurate, you run the risk ordering the wrong stock. The post Shipping container shortages and how to better manage your inventory appeared first on EazyStock.

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Logistics Business Magazine

JUNE 10, 2020

Adaptability can apply to a wide range of areas within the warehouse, but it’s difficult to adjust without first understanding where your warehouse lags – so make sure to get your data in order before looking to meet today’s trends.

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SYSPRO Smarter ERP

DECEMBER 19, 2022

Both IO and AI can be used to plan how much inventory to hold where, and when to order it. They have become applicable because the large amount of data they require is now created and stored by businesses, thanks to advances in computer technology. Inventory optimization. Using AI in inventory management.

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EazyStock

MARCH 3, 2022

In this post, we explain how you can implement a just-in-case stock management strategy without the risk of tying up too much capital in unnecessary inventory items. How to implement JIC inventory management with optimum stock levels. The post How to successfully implement just-in-case inventory management appeared first on.

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EazyStock

NOVEMBER 21, 2019

Forecasting accuracy can be affected by ‘outliers’ or ‘fliers’ in the data. An outlier is a data point that is not considered to be part of the overall pattern of demand for a product. A demand outlier can either be overly high or overly low compared to other data points in the data series.

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Logistics Bureau

JULY 10, 2018

The demand-driven SCM concept therefor uses actual demand instead of error-prone forecasts to drive replenishment.” This necessity is concerning for some company leaders, who fear conflicts of interest, information leaks, and other data-security vulnerabilities. ” – Simon Eagle, Demand Driven Institute.

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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. It stores a wealth of data about every product and updates stock levels based on outgoing sales and incoming purchases. Microsoft Dynamics 365 Inventory Management Features.

Inventory 52

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SYSPRO Smarter ERP

DECEMBER 19, 2022

Both IO and AI can be used to plan how much inventory to hold where, and when to order it. They have become applicable because the large amount of data they require is now created and stored by businesses, thanks to advances in computer technology. Inventory optimization. Using AI in inventory management.

Inventory Reduction 98

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Logistics Viewpoints

SEPTEMBER 16, 2021

Limited Granularity of Data Leads to a Lack of Actionability. When a shipper cannot understand the various factors playing into market volatility, this is known as limited granularity of data. Traditional Inventory Replenishment Strategies No Longer Work.

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247 Customs Broker

NOVEMBER 30, 2018

Logistics , Technology , Big Data. Using a WMS allows you to configure your supply chain for your business; enabling you to pinpoint the specifics of individual items, including data elements such as UPCs, vendor SKUs, min/max levels for replenishment, preferred storage/fulfillment locations, and weights/dims. November 13, 2018.

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EazyStock

OCTOBER 20, 2020

There are hundreds of inventory control blog posts on how to organize warehouses, track goods and pick and pack efficiently. In this post we’ll look at 6 inventory control techniques that will specifically show you how to control your stock levels, help you optimize your inventory and maximize profits. Understand your demand.

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EazyStock

JANUARY 14, 2020

But once they’re up and running, there’s no doubt they offer a wealth of benefits, including streamlined processes, improved productivity, centralized data and better departmental collaboration. Read our blog post on how to calculate your demand forecasting accuracy for further information. Are you one of these people?

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EazyStock

JUNE 18, 2019

The graph below illustrates how 80% of a company’s sales revenue comes from 20% of their stock items: ABC analysis & The Pareto Rule for inventory management. Here is a working illustration of how to divide your inventory using annual consumption value. How to Put your Data to Good Use.

Analysis 51

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Log-hub

NOVEMBER 22, 2023

In this blog post, we will explore the highly effective ABCD Analysis technique for warehouse optimization with its pitfalls and how organizations can leverage their data to implement this strategy successfully based on Log-hubs experience over the last years. This can make the application of ABCD Analysis less effective.

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Logistics Viewpoints

MAY 4, 2022

The initial resistance came from the omni-channel shift – inventory and location information into the cloud was seen as too much data to not have “on-hand.” This in turn is helping to make better informed decisions on how to fulfill an order that will not only satisfy the customer, but also be done in the most cost-efficient manner.

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Logistics Business Magazine

OCTOBER 9, 2023

Edward Napier-Fenning, Sales & Marketing Director of leading supply chain software company Balloon , explores five key areas that can boost performance – including route planning, picking, labour management reporting and data entry. Quite suddenly, Artificial Intelligence (AI) is everywhere.

Warehousing 62

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EazyStock

JUNE 18, 2019

The graph below illustrates how 80% of a company’s sales revenue comes from 20% of their stock items: ABC analysis & The Pareto Rule for inventory management. Here is a working illustration of how to divide your inventory using annual consumption value. How to Put your Data to Good Use.

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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. This data can be used to identify potential issues before they become problems, optimize maintenance schedules, and improve the lifespan of equipment.

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FreightWaves SONAR

APRIL 14, 2021

Many companies are still struggling to replenish inventory from the surge of demand in 2020. But most data points to freight demand cranking close to full throttle for several months. Request a FreightWaves SONAR demo via the button below to get started using the data for those goals today. Epilogue by Jason Vanover).

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Logistics Viewpoints

DECEMBER 14, 2021

Integrated forecasting, store replenishment, warehouse procurement, purchase order creation, operational constraints such as storage space, unloading capacity, and commercial agreements such as vendor lead times, minimum order quantities, packaging configurations can hugely improve productivity and accuracy in the planning processes.

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EazyStock

MAY 20, 2020

It provides the data analytics that businesses need to make informed decisions and identify areas of improvement and opportunity. This plan can help supply chain managers identify the risks associated with their organization’s supply chain and how to mitigate them to keep disruption to a minimum.

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Ship Monk

JULY 27, 2022

Keep reading to learn what demand forecasting is, why you need it, and how to implement it into your eCommerce strategy! Put simply, demand forecasting uses a variety of data to foresee customer demand and inform major business decisions, from launching new products to finding the perfect 3PL partner. How does that stack up to AOV ?

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