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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.

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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.

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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 ). 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.

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Cost To Serve – A Smarter Way to Improved Supply Chain Profitability

Logistics Bureau

Too much leads to resources being monopolised on gathering tons of data and a subsequent risk of “paralysis by analysis” Cost to Serve (CTS) is an approach that helps you avoid both extremes. Besides optimising the present or fixing the past, CTS reporting and analysis opens the door to what-if scenarios and projections.

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Artificial intelligence and machine learning in supply chain management

EazyStock

Artificial intelligence (AI) simulates human intelligence processes so that computers or robots can carry out tasks usually done by humans. For example, navigation apps, facial recognition, smart assistants, and even robot vacuum cleaners at home use this smart tech. AI was once only seen in science fiction.

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The Power of Outsourcing for Supply Chain Improvement

Logistics Bureau

So, for example, outsourcing sales activity is not typically a good idea if yours is a retail sales company. For example, US-based companies may be quite fortunate if they have access to manufacturers right on their doorstep in Mexico, a country with far lower labour costs than the rest of North America.

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Top Game-Changing Logistics Trends for 2024: Redefining Global Supply Chains

3PL Links

The primary logistics trends for 2024 are shown below, along with examples of how some of the industry’s top businesses are already incorporating them into their plans. Product personalization: Product personalization is made easier by the ability to comprehend customer preferences through big data analysis.