Logistics Bureau

OCTOBER 10, 2022

Too much inventory in your distribution network? Inventory costs too high? These are all pervasive issues for supply chain operators worldwide—and are classic symptoms of suboptimal inventory performance. But what exactly does inventory optimisation mean, and what obstacles must first be broken down to achieve it?

Inventory Reduction 114

Inventory Reduction Inventory Optimization Modeling Optimization Software 114

SYSPRO Smarter ERP

AUGUST 1, 2022

A Bill of Materials (BOM) is a comprehensive list of all the items needed to manufacture a product. A BOM may be a relatively simple document or a complex, multi-levelled product description made from multiple sub-assemblies. First, keeping track of the production process is very beneficial. What is a Bill of Materials?

Optimal Sourcing 111

Optimal Sourcing Manufacturing Procurement Material Savings Inventory Reduction 111

Ship Monk

NOVEMBER 8, 2022

“Inventory” is a tricky word because it means different things to different people. If you are an inventory manager, inventory is the number of units you have on hand at any given time. If you are an accountant, inventory is an asset on a balance sheet tracked by its monetary value. Inventory Types for Manufacturers.

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Inventory Reduction eCommerce Inventory Manufacturing Procurement 80

EazyStock

NOVEMBER 17, 2022

The extended sales period sees increased pressure on companies to get ahead on their demand planning and ensure they have the necessary inventory. This year, purchasing teams are also facing continued challenges due to global supply chain and logistics pressures, component shortages, and soaring prices for electricity and fuel.

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Procurement Solutions Purchasing Skills Purchasing Supply Chain Planning Software 52

EazyStock

NOVEMBER 17, 2022

The extended Black Week sales period sees increased pressure on companies to get ahead on their demand planning and ensure they have the necessary inventory. This year, purchasing teams are also facing continued challenges due to global supply chain and logistics pressures, component shortages, and soaring prices for electricity and fuel.

Procurement Solutions 52

Procurement Solutions Purchasing Skills Purchasing Supply Chain Planning Software 52

Ship Monk

JULY 28, 2022

Any eCommerce business that manufactures goods has three different types of inventory at any given time: Raw Materials Inventory , Work in Process Inventory , and Finished Goods Inventory. This article will show you the difference between these types of inventory and how to calculate Work in Process inventory.

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Inventory Manufacturing Procurement Purchasing Skills eCommerce 64

GoShip Blog

FEBRUARY 5, 2024

When running a small business,one might wonder, how does inventory affect cash flow? How does inventory affect cash flow? The Cost of Goods Sold (COGS) defines the correlation between inventory and your business’s cash flow. When you procure inventory for your business, the capital used is your business’s cash outflow.

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Inventory Tips Procurement Analytics Purchasing Skills 52

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

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. Inventory Valuation vs. Inventory Management First, let’s make sure we’re all on the same page: inventory valuation is not the same as inventory management.

Inventory Reduction 52

Inventory Reduction Inventory Purchasing Skills Cost Reduction 52

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

Ship Monk

OCTOBER 17, 2023

Managing inventory is a pivotal part of peak season for every ecommerce store, regardless of size or industry. Underestimate inventory needs and buyers can have a negative experience with your brand because of backorders or stockouts, or you could just flat out lose business. A big part of that is inventory management.

Inventory Reduction 64

Inventory Reduction Inventory Optimization Software Supply Chain Planning Software 64

EazyStock

NOVEMBER 17, 2020

What is ERP inventory management? ERP systems typically allow companies to undertake tasks such as purchasing, production planning, service delivery and customer management – all from one single platform. ERP inventory management limitations. ERP inventory management needs sophisticated demand forecasting.

ERP 98

ERP Inventory Reduction Inventory Optimization Software 98

Logistics Business Magazine

OCTOBER 10, 2023

(NASDAQ: MANH) announced the findings of its latest international omnichannel research, highlighting how retailers are increasingly digitizing their offering in efforts to improve customer experiences and maintain market share, with inventory visibility being key.

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Inventory Purchasing Skills Procurement Analytics Procurement Solutions 48

FW Logsitcs

OCTOBER 10, 2023

In today’s fast-paced business world, effective and efficient inventory management is critical to any successful third-party logistics warehouse operation. Efficient inventory management in a 3PL warehouse ensures a steady flow of goods, improves overall operational efficiency, and reduces costs.

Optimization Software 52

Optimization Software Inventory Reduction Supply Chain Planning Software Inventory 52

3PL Links

AUGUST 18, 2023

Everything You Need to Know About Inventory Management | Image source: Pexels Inventory management is a crucial investment for businesses that want to increase productivity, cut expenses, and deliver top-notch customer service. Following that, we’ll define inventory and go over its different types and management methods.

Inventory Reduction 48

Inventory Reduction Inventory Purchasing Skills Price Reduction 48

EazyStock

AUGUST 28, 2023

When it comes to inventory management, relying on gut feelings and historical data may lead to inefficiencies, missed opportunities and incorrect inventory levels. When combined with manual inventory management processes, you increase the risk of human errors, which can culminate in stockouts and overstocking. Don’t worry!

Inventory Reduction 52

Inventory Reduction Optimal Sourcing Inventory Optimization Software 52

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.

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Inventory Reduction Inventory Optimization Software Procurement Solutions 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

EazyStock

FEBRUARY 17, 2021

What is Inventory Replenishment? Inventory replenishment is the process of moving stock items along the supply chain to ensure inventory levels are sufficient to cover demand. Effective inventory replenishment processes ensure that order fill rates can be achieved while keeping inventory carrying costs under control.

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Inventory Reduction Material Savings Price Reduction Cost Reduction 75

Logistics Bureau

DECEMBER 20, 2021

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. 1: Inventory Turns. million)/2 = 6.76.

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Inventory Reduction Inventory Cost Reduction Purchasing Skills 92

EazyStock

JUNE 23, 2022

This is especially true in inventory management, where new technologies are being introduced all the time, and along with them, more and more data is being generated. The key for inventory management teams is to know what to do with it! This article explores some of the benefits of big data to inventory management teams.

Inventory Reduction 52

Inventory Reduction Optimal Sourcing Inventory Supply Chain Planning Software 52

The Logistics of Logistics

MARCH 16, 2022

Esther is the Chief Revenue Officer at Flowspace , an ecommerce fulfillment platform that helps brands meet their customers’ post-purchase expectations. Flowspace is an ecommerce fulfillment platform that helps brands meet their customers’ post-purchase expectations. About Esther Kestenbaum Prozan.

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Supply Chain Planning Software Network Optimization Software Logistics Network Optimization Software Optimization Software 283

ShipLilly

FEBRUARY 8, 2023

Questions about dealing with excess inventory Given what has happened before, it is not entirely surprising that many retailers are contending with elevated levels of excess inventory. This is a trend that is undesirable since excess inventory tends to have a detrimental effect on cash flow.

Inventory Reduction 52

Inventory Reduction Inventory Handling Price Reduction 52

ShipLilly

OCTOBER 26, 2020

Inventory management remains one of the most important ways in which you can transform your e-commerce business into a profitable and successful enterprise. The mistake that many entrepreneurs make is to think that inventory management is only for larger corporations with unlimited research and development budgets.

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Inventory Reduction Inventory Tips Supply Chain Planning Software 96

Ship Monk

MARCH 6, 2023

In the world of an entrepreneur, such is the case when you start your own ecommerce business, orders swiftly start flowing in, customers rave about your awesome products, and you grow by the day. Outsourcing inventory and order fulfillment to an experienced 3PL is the natural next step for a growing business.

Inventory Reduction 52

Inventory Reduction Outsourcing Inventory 3PL 52

EazyStock

FEBRUARY 1, 2021

Better Inventory Management for eCommerce. A critical area of focus should be your eCommerce inventory management processes. Here’s how eCommerce businesses can improve their inventory management. Improving your eCommerce Inventory Management. Forecasting eCommerce inventory demand. Want to know how?

Inventory Reduction 52

Inventory Reduction Optimization Software eCommerce Inventory 52

EazyStock

AUGUST 21, 2020

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! What are the potential cost savings from inventory reduction?

Inventory Reduction 52

Inventory Reduction Cost Reduction Price Reduction Resource Reduction 52

Logistics Business Magazine

AUGUST 11, 2020

According to EazyStock, one area where big gains can be made is around inventory management. Many inventory planners are still reliant on basic stock management tools to carry out their challenging roles. Manual inventory management is labour intensive and can often lead to stock imbalances.

Inventory Reduction 68

Inventory Reduction Inventory Procurement Solutions Supply Chain Software 68

EazyStock

JULY 19, 2019

What is inventory optimization? You’ve heard of inventory management, and you probably already have some inventory management practices implemented in your supply chain. So what is inventory optimization? Inventory optimization is the next level of inventory management for warehouse and supply chain managers and buyers.

Optimal Sourcing 55

Optimal Sourcing Optimization Software Inventory Optimization 55

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

SYSPRO Smarter ERP

OCTOBER 9, 2023

Managing costs With the demand for fabricated metal products growing so much, production runs are increasing as are the costs. Understanding material costing requires information about procurement activities and how long materials linger in inventory before they are used to generate revenue.

Manufacturing Procurement 111

Manufacturing Procurement Purchasing Skills Cost Reduction Optimal Sourcing 111

EazyStock

JUNE 23, 2021

When finished goods are built from a set of components, a Bill of Materials (BOM) is extremely useful for inventory management purposes. A bill of materials is usually associated with production planning in manufacturing, and is typically used in manufacturing software such as materials resource planning systems (MRPs).

Supply Chain Planning Software 52

Supply Chain Planning Software Material Savings Inventory Reduction Inventory 52

SYSPRO Smarter ERP

JANUARY 22, 2024

Material Requirements Planning for a modern manufacturing environment Material Requirements Planning (MRP) is software that helps companies estimate the required quantities of raw materials, maintain inventory levels, and ensure manufacturing has all the items needed to make products to satisfy demand.

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MRP Manufacturing Procurement Optimal Sourcing ERP 52

3PL Insights

FEBRUARY 14, 2023

Retail logistics is responsible for delivering products to customers both in physical stores and online. This process starts from the moment a product is sourced from the supplier to the customer. Inventory Management Inventory management is the procurement, storage, and selling of a company’s inventory.

Logistics Network Optimization Software 92

Logistics Network Optimization Software Supply Chain Software Procurement Solutions Inventory Reduction 92

SYSPRO Smarter ERP

APRIL 4, 2024

Make-to-Order (MTO) manufacturing is the production of specialized or unique one-off products in quantities ranging from one to small production runs. Usually, the final product is a combination of custom manufactured components and standard components. MTO operations bring their own set of unique challenges.

Manufacturing Procurement 52

Manufacturing Procurement ERP Supply Chain Planning Software Ordering 52

SYSPRO Smarter ERP

MAY 30, 2022

As manufacturers strive to reduce costs while increasing speed, the process of procuring materials, making products, and moving them where they need to be is more complex than ever. Using ERP to improve purchasing transparency. Purchases that are made outside the defined procurement process fall under dark purchasing.

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Manufacturing Procurement Optimal Sourcing Procurement Solutions Procurement Analytics 105

Logistics Viewpoints

APRIL 10, 2023

Without an efficient supply chain, a company can’t meet the demand that exists, and competitors swoop in and grab market share. Or, alternatively, a company carries too much inventory, storage for excess inventory must be purchased, and cash flows become tight. Over that span the sport has grown by almost 160% per year.

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Supply Chains Security Scenario Planning Manufacturing Procurement 119