A Concise Guide to Inventory KPIs for Your Business

Logistics Bureau

As we are often asked about KPIs for inventory management , that’s what we’re going to focus on in this particular post. You will also understand their notable benefits to the inventory management discipline. 10 Invaluable KPIs to Track Inventory Management Performance.

Re-imagining inventory management for a new normal

SYSPRO Smarter ERP

Inventory management was moving towards a just-in-time approach until the supply disruptions of the last year. Why inventory management is important. Active inventory management is a major contributor to manufacturing success. Inventory in the supply chain process.

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Inventory Optimisation: How Much Stock is Right for Your Company?

Logistics Bureau

Among the universal challenges that the COVID-19 pandemic has imposed upon the supply chain management profession is the question of inventory, specifically, “how much is enough?”. It wasn’t long ago that businesses were asking, “By how much can I reduce my levels of inventory?”.

Driving Rigor into Your Inventory Control Practices Helps You Win the Race

Logistics Viewpoints

Kind of like managing inventory in your warehouse. Poorly managed inventory will cause stress in the operation between departments. Loss of sales from inaccurate or missing inventory leading to disappointed customers who may go elsewhere (and might not come back).

3 Mistakes Organizations Make While Developing ABM Programs

While B2B research suggests organizations are thriving through successful ABM programs, getting just one campaign off the ground is more difficult than it seems. From building an account universe to understanding to orchestrating sales and marketing alignment around touchpoint and messaging, there are a number of variables to consider before launching a program.

Inventory Replenishment Underway

Logistics Trends and Insights

Census Bureau inventory data, for June, indicates the need for inventory replenishment as the seasonal-adjusted sales to inventory ratio declined to 1.37 Total business inventories declined 2.3% for June/May while inventories declined 5.8% Inventory Replenishment.

Nordstrom leverages pack and hold inventory to mitigate supply chain risk

Supply Chain and Logistics

Nordstrom and a number of other retailers are starting to keep more inventory, by buying larger lots and holding some. The fact that retailers are publicizing this means that they are starting to recognize that inventory shortage is a substantial … Continue reading → Logistics container shipping inventory safety stock shipping delays stockouts supply chains

Inventory Management’s Crucial Role in the Supply Chain

Kuebix

What is Inventory Management and Why is it Important? Inventory management refers to the process of ordering, storing and using a company’s goods or materials. Ineffective management can result in excess inventory which runs the risk […].

Why Is Promotion Planning Important In Inventory Management?

Logistics Viewpoints

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. Therefore intelligent inventory management benefits the business results as well as the brand image. .

What is inventory management?

Globalior

Usually, companies do cycle counts to check inventory balances at the end of either each financial year or calendar year. However, what does the term “inventory management” really mean? What does inventory management mean? Types of inventory checks.

How Does Your Inventory Optimization Process Compare to Peers?

The 15-question assessment takes only 5 minutes to complete. Take it now to see how your inventory optimization process scores and benchmark it against peers. Responses are aggregated and kept anonymous. We hope it serves as a thought-provoking exercise to improve your approach!

Warehouse Inventory Accuracy: Why It’s Important and How to Achieve It

Amware Logistics and Fulfillment

Inventory accuracy – the degree to which the goods you actually have in stock match the quantities in your order management system – is hugely important to your business.

Things People Get Wrong with Inventory

Logistics Bureau

What are the things that people get wrong in inventory? Robobyrne: Sins In Inventory Management. Supply Chain Secrets: Why Supply Chain Inventory Should Matter to the Finance Pros. Benchmarking Success: 5 Reasons to Care About Great Inventory Management.

Inventory Management Efficiency

Globalior

Inventory management is an important part of supply chain management. Inventory management can be very vaguely described as optimizing the inventory level between maximum and minimum acceptable levels for every SKU. How to optimize inventory to keep a minimum stock?

Routed Deliveries Help Reduce Inventory Backlogs

Supply Chain Brain

Retailers can use routed deliveries to reduce inventory backlogs and other unpleasant shipping issues

Complimentary Gartner Report: Improve S&OP Decision Making with Scenario Planning

Traditionally, planning teams have aimed for one number, one plan. But with uncertainty on the rise, they need to build more flexibility into their process to account for changing business conditions. It’s time to shift gears and embrace variability with different scenarios.

How to Improve Inventory Turnover with Inventory Optimization

EazyStock

How to Increase Inventory Turnover with Inventory Optimization. The concept of inventory optimization helps many businesses improve their inventory turnover – without damaging stock availability. The Importance of Improving your Inventory Turnover.

Contract Manufacturing Supporting Inventories

LandLink

The Covid virus has presented production challenges for global manufacturing. Food, chemical and personal products companies, among many more, struggle to meet retail demand.

6 Inventory Control Techniques for Stock Optimization

EazyStock

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?

Five Inventory Management Tips for Uncertain Times

Logistics Management

Here are five inventory management strategies organizations can use now to both manage current volatility and optimize for the future The global pandemic turned supply chains on end.

Just In: Inventory Optimization Research

How are organizations performing on inventory optimization? How can new technologies help your team improve? Find out in this new research report.

What Is Real-Time Inventory Management?

FW Logsitcs

Having outdated inventory information can slow down the order fulfillment process, frustrate customers, and harm your company’s reputation. Understanding Real-Time Inventory Systems. We use a top-quality warehouse management system to give you access to inventory data around the clock.

The Inventory Accuracy “Confidence Gap”

Talking Logistics

Note: The following is an excerpt from “ Omni-Channel Logistics Leaders: 5 Key Insights to Improve Inventory Performance for 2019 ,” based on research conducted by Adelante SCM and LEGACY Supply Chain Services with input from nearly 100 supply chain professionals from retail, manufacturing, and logistics service providers companies in the United States and Canada. And it begins with improving their inventory accuracy. The Inventory Accuracy “Confidence Gap”.

Using ABC Analysis in Inventory Management

EazyStock

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. The Three Classifications used in ABC Inventory Analysis. These are typically mid-range in inventory value and demand.

COVID threatens Chinese exports as US struggles to restock inventories

The Supply Chain Journal

import demand is stronger than ever as inventory-to-sales ratios remain painfully low. US inventory restocking still lags. COVID fallout in Asia coincides with ongoing inventory-to-sales shortfalls in the U.S. Retail inventories were actually up 3.4%

Automated Order Processing and Proactive Inventory Management

Speaker: Irina Rosca, Director of Supply Chain Operations, Helix

Organizations need to focus on demand driven supply planning, utilizing real time information on customer orders from all marketplaces (e-commence, Amazon - or other online retailers, and point of sale data from brick and mortar). Focusing on this information once per month during the S&OP meeting is too late for all business units to align. Companies should have seamless integration between order entry, inventory management, forecasting and supply planning models and purchase order status to sense risk, pull levers to mitigate potential risk, and communicate within and outside the organization. This is especially important for new product releases, in store programs or promotions (sales, end caps, PDQ. etc) or online promotions (company run or 3rd party). Depending on total supply chain lead time, not having real time visibility and analysis of this information can significantly affect sales and the bottom line.

Inventory, Risk Management Most Important Factors for 3PL

Food Logistics

A new report from 3PL Central emphasizes the importance of inventory and risk management for greater demand planning throughout 2022. Transportation / 3PL/4PL

Inventory Management’s ‘Sins’ with Keiran Hogan

Logistics Bureau

With regards to inventory management, Keiran mentioned that you should have a discriminatory treatment to your “golden goose” Replenish the orders frequently, check your inventories – and do things to preference the most profitable item on your stocks.

Retailers’ inventories suggest restocking long way from finished

The Supply Chain Journal

Inventory levels increased for the nation’s largest retailers during the fiscal second quarter that ended July 31. Often a tell of future container traffic, inventories were severely depleted within months of the pandemic’s onset. Inventories way behind sales on 2-year comp.

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.

Just in Time vs. Just in Case: What’s the Way Forward for Supply Chains?

Just-in-time supply chains worked just fine — until they didn’t. Is more inventory the answer? It’s not a binary solution. Read this latest GEP paper to learn how enterprises can ensure adequate supplies without running excess inventory.

Warehousing Practices for Special Inventory

SIPMM Professional Publications

Special inventory in warehouse environment are guided by policies, federal laws and compliances that are set up by organizations. In warehousing contracts, special inventory imposed by a government body are Central Narcotics Bureau (CNB), and Immigration and Checkpoint Authority (ICA).

Using Technology to Improve Inventory Management

GlobalTranz

Using technology in the warehouse is one of the most effective ways to improve inventory management and reduce returns. Since returns represent a significant cost to companies, it is imperative for retailers to take steps to improve inventory management and manage returns. The post Using Technology to Improve Inventory Management appeared first on Transportation Management Company | Cerasis. Inventory Management Supply Chain Technology Improve Inventory Management

Profitability through Inventory Management: A new approach

Supply Chain Brain

With inventory management increasingly linked to competitive advantage and profitability, inventory processes have had to adapt

The Future of Inventory Management

Logistics Management

RTLS technology combined with the continued evolution of WMS user interfaces promises to take inventory management to a new level by allowing improved visibility and control.

Key Questions for a Successful Distribution Network

Speaker: Irina Rosca, Director of Supply Chain Operations, Helix

If we're going to offer the speed of shipping and variety of inventory that today's customers have come to expect, there are a lot of different questions that need to be asked.