Effective Stock Replenishment: Why you need it & how to achieve it

EazyStock

Stock replenishment is an important aspect of inventory management, as it ensures the right stock items are being reordered to meet customer demand. Effective stock replenishment. How does the stock replenishment process work? Cost-effective stock replenishment.

Bed Bath & Beyond aims to reduce store replenishment time from 35 days to 10

The Supply Chain Journal

It’s a sharp take, but Beyond’s executives understand the company’s got a lot of catching up to do in many areas. Prior to former Target Head of Merchandising Tritton coming aboard as CEO, Bed Bath & Beyond seemed stuck in neutral, losing market share while forgetting to innovate.

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How to Calculate and Apply ABC Classification of Inventory

EazyStock

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 ). How to Calculate ABC Classification. How to Put your Data to Good Use.

How to Optimize Inventory Management for eCommerce

EazyStock

The growth of eCommerce in 2020 was phenomenal as more customers, B2B and B2C alike, shopped online due to the COVID-19 pandemic. With this global movement comes a wealth of opportunities for businesses, both large and small, to expand their reach and target new customers.

How to Improve Inventory Turnover with Inventory Optimization

EazyStock

How to Increase Inventory Turnover with Inventory Optimization. This post will explain how, but first, let’s deal with a few simple definitions. Six Ways to Improve Inventory Turnover (with Inventory Optimization). Use automation to improve insights. Cost to sell.

How To Improve Stock Availability

EazyStock

The global marketplace is constantly evolving due to political, economic, technological and social factors. As small- and mid-sized businesses (SMBs) try to remain competitive, many are coming up against inventory management challenges. The next stage is to optimize your stock levels.

How to Find the Right Economic Order Quantity

EazyStock

The objective is to find the order quantity that minimizes the total inventory holding costs and ordering costs. The EOQ is the point where the ordering costs and holding costs are minimized; in fact, it is at the point where the costs are equivalent to one another. Changes to EOQ.

How to Use Data to Improve On-Time Shipping Performance

FreightWaves SONAR

How often does your organization think about the real impact of on-time shipping performance? According to Supply Chain Game Changer , “On-time delivery may seem like a basic expectation. There may be monetary penalties that you have to pay. Extend replenishment lead-time.

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How to Manage Obsolete Stock in Your Inventory

EazyStock

Obsolete Stock is a term that refers to inventory that has reached the end of its product life cycle. 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. and begin to amend your reordering parameters to match demand. What is Obsolete Stock?

Improve Forecasting Accuracy: How to Manage Demand Outliers

EazyStock

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. Since fliers can affect and skew the accuracy of demand forecasting data, it can be useful to discard them from your overall forecasting calculations. Therefore, they often need examining to see if their usual behavior can be explained.

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How to Start a Cleaning Business

WorkWave

Time To Read: 5 minutes. Although you might disagree, most people find cleaning their homes to be stressful and even painful. Here’s how to start a cleaning business from the ground up. When you consider how to start a maid service, you might feel tempted to begin with staffing, but the best way to start is by doing most of the work yourself. After all, you need to learn the business before you can successfully run it from afar.

COVID-19 Survival Guide: How to lead your brokerage through this crisis

Parade

While there are certainly reasons to be careful, the time is ripe to invest in improving your business. Historically in times of recession, shippers shift to using a larger mix of freight brokers over assets due to the uncertainty of rates.

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How to Use ABC Analysis for Inventory Management (and the Added Value of XYZ Analysis)

EazyStock

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 analysis (otherwise known as ABC classification ). 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. Instead if follows the Pareto Principle, where 20% of stock accounts for 80% of the value to the business.

How to Manage Seasonality of Demand to Increase Forecasting Accuracy

EazyStock

Some will experience peaks and troughs in their sales due to the coming and going of seasons and months. While you may think this is an obvious statement, many businesses still struggle to forecast for seasonal highs and lows in demand, despite them happening every year.

How to Deliver Great Customer Service at the Lowest Cost

Logistics Bureau

In this article we will look at the topic of customer service: getting it right in your business, understanding the implications for your distribution network, and how you can extract more value —and get more cost—out of your business. We need to try to penetrate that.

How to Properly Handle Your eCommerce Backorders

ShipLilly

In today’s e-commerce landscape, consumers expect products to be in stock and delivered fast. Backorders are one of the solutions that companies are using to combat this harsh reality. It is important to note that backorders are not without their disadvantages. Given the unpredictability of global economies and markets, it is best to include backorders as an option for your customers. Moreover, it is imperative to develop accurate and convenient tracking processes.

How to Use ABC Analysis for Inventory Management (and the Added Value of XYZ Analysis)

EazyStock

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 analysis (otherwise known as ABC classification ). 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. Instead if follows the Pareto Principle, where 20% of stock accounts for 80% of the value to the business.

How to Get a Job in the Supply Chain Sector

Logistics Bureau

You are not alone, especially as in the time since we first penned this article, one huge and unforeseen event has raised awareness of the global importance of this vital sector—and shown it to be an attractive career choice. This is expected to widen to 9 to 1 in the years ahead.

3 Common Inventory Management ‘Sins’—And How to Avoid Them

Logistics Bureau

If you don’t get them right, you won’t be able to do a lot of other things. The B-lines and C-lines contribute less to revenue so they should not be treated in the same way as the A-lines. If you fail to forecast demand, you face the following potential risks: Running out of stock.

How to Manage Inventory in a Growing Business

EazyStock

At EazyStock we talk to a lot of small- and mid-sized businesses (SMBs) who are struggling to effectively manage their inventory. Expanding product portfolios due to business growth and as customers demand more choice. Increased stock levels to ensure stock availability.

COVID-19 Survival Guide: How to lead your brokerage through this crisis

Parade

While there are certainly reasons to be careful, the time is ripe to invest in improving your business. Historically in times of recession, shippers shift to using a larger mix of freight brokers over assets due to the uncertainty of rates.

COVID-19 Survival Guide: How to lead your brokerage through this crisis

Parade

While there are certainly reasons to be careful, the time is ripe to invest in improving your business. Historically in times of recession, shippers shift to using a larger mix of freight brokers over assets due to the uncertainty of rates. Co-authored by.

How to Improve Microsoft Dynamics 365 Business Central’s Inventory Management Capabilities

EazyStock

Dynamics 365 Business Central, or Dynamics BC, is Microsoft’s newest ERP to the market. Predominantly based on the functionality of Dynamics NAV, it’s easily connected with Microsoft’s other solutions from the 365 software suite to provide a fully integrated business system.

How to Minimize Impacts from Supply Chain Disruption

EazyStock

In this piece, we’ll take a look at some of the top types of supply chain disruptions, the impacts that they have on your supply chain, how to mitigate whatever risk you can and finally how you can handle supply chain disruptions once they occur and come out on top.

WMS and eCommerce: How to Use Supply Chain Technology to a Competitive Advantage

GlobalTranz

eCommerce is growing faster than ever, and everyone is working to find the latest and greatest way to overcome their competitors. The application of supply chain technology is essential to maintaining a competitive advantage in the height of eCommerce growth. Warehouse Managers need to understand the challenges of maintaining a competitive advantage, how technology can help, and a few best practices in leveraging technology.

LTL to Intermodal Shipping: How to Find and Eliminate Freight Spend Black Swans

GlobalTranz

Black swans in the supply chain refer to unexpected, unusual disruptions within the supply chain, reports Melanie Nuce of Inbound Logistics. For example, a black swan event may include both the physical damage and ongoing disruption caused by a hurricane and subsequent bottlenecks, so shippers that know how to isolate the causes of poor visibility and areas that are likely to contribute to worsening of black swan events can effectively reduce their chances of coming to fruition.

ERP inventory management – how advanced is your ERP?

EazyStock

Many organizations have an enterprise resource planning (ERP) system to collect, store, manage and interpret data from a host of different businesses processes. This can include statistical demand forecasting , advanced inventory planning and automated replenishment activities.

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How to get Through the COVID-19 Crisis with your Supply Chain Intact

Logistics Bureau

We recently held what turned out to be a very popular webinar to discuss these and other supply chain issues that are affecting us all. Some extreme effects of the disruption: Massive demand fluctuation has led to stock-outs. Retail store replenishment just can’t keep up.

6 Inventory Control Techniques for Stock Optimization

EazyStock

There are hundreds of inventory control blog posts on how to organize warehouses, track goods and pick and pack efficiently. Inventory control is a key function of supply chain management that maintains appropriate quantities of stock to meet customer demand.

How to Prioritize and Select Logistics Technology

247 Customs Broker

Technology is the backbone of today’s logistics systems, and shippers want to make the right choices for mission-critical systems. One key question is when to outsource technology development vs. managing it with in-house resources. It can be challenging to secure internal information technology staff to focus on developing and implementing essential functions such as transportation management, warehouse management, and purchase order management.

Industry View: How to Adopt the ‘Triple A’ Approach

Logistics Business Magazine

With traditional business models being turned upside down, brands like Heinz and Cadbury are capitalising on the e-commerce trend with a direct to consumer offer – and now restaurants are following suit with home delivery.

How to Mitigate Risk in Demand Driven Supply Chains

Logistics Bureau

However, there are risks involved in the demand-driven approach and for many companies, their presence creates a reluctance to shift from conventional, but increasingly outmoded forecast-based planning. “In a world that’s changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” The risks attached to DDSC can be managed and minimized just like any other. “We do not use the forecast to drive our transactions.

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Last Mile Delivery: What Is It And How To Improve Your Service?

GoShip Blog

Last mile delivery refers to the transportation of freight from a warehouse or distribution facility to the final destination, which is almost always a facility or residence of a customer. No matter how good is your supply chain management, if you fail to provide proper last mile shipping, you may lose customers. The majority of shoppers not only expect you to meet their requirements in terms of shipping, but to exceed them.

8 Signs You Need Inventory Planning Software

EazyStock

They also take a lot of time and resources to design, customize and implement. But unfortunately for inventory management teams, ERPs often lack functionality when it comes to more sophisticated inventory planning and replenishment requirements.

5 Inventory Reduction Strategies to Drive Cost Savings

EazyStock

For businesses that carry non-perishable goods it’s tempting to order and carry surplus stock to help meet market demand and hit order fulfillment targets. So it makes sense to look for ways to reduce inventory and keep levels under control!