EazyStock

JUNE 24, 2020

Even sophisticated Enterprise Resource Planning (ERP) or Warehouse Management Systems (WMS) rely heavily on users manually inputting forecasting and replenishment parameters to automate any form of reordering alerts. For example, highlighting unusual dips in demand or longer than expected lead times. The process is endless.

Procurement Solutions 98

Procurement Solutions Inventory Reduction Inventory Supply Chain Planning Software 98

EazyStock

JUNE 18, 2019

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.

Analysis 51

Analysis Inventory Reduction Inventory Procurement Solutions 51

Logistics Viewpoints

AUGUST 29, 2024

Dynamic Slotting involves the use of software and algorithms to perform velocity and affinity analysis, in a real-time, ever adapting fashion, through the use of artificial intelligence and machine learning. By conducting a velocity analysis, the software can categorize products based on their demand and importance.

Waste Reduction 119

Waste Reduction Optimal Sourcing Sourcing Strategies Resource Reduction 119

EazyStock

OCTOBER 20, 2020

ABC analysis is a good inventory control technique to segment your warehouse stock based on the value it brings to the company. ABC analysis, will help with this. For example, you should consider setting different service levels, safety stock levels and reordering parameters for each category. Know your star products!

Inventory Reduction 98

Inventory Reduction Optimization Software Inventory Optimization Modeling 98

Logistics Bureau

OCTOBER 10, 2022

For example, you can optimise for cost, profit, or service, but not for all of them. The second is when you implement segmentation of the SKUs in your portfolio based on Pareto analysis. For example, inaccurate forecasts typically lead to: Overstocking — a problem that ties up working capital and can lead to inventory obsolescence.

Inventory Reduction 105

Inventory Reduction Inventory Optimization Modeling Optimization Software 105

Logistics Viewpoints

APRIL 4, 2024

Another example of data normalization is accounting for lost sales due to stockouts or waste of perishable products due to overstocking of inventory. Similarly, when the weather is warmer than normal, and we stock out of chocolate ice cream, that impacts both future forecasts and the replenishment plan for the following week.

Scenario Planning 126

Scenario Planning Supply Chain Planning Software Supply Chain Software Supply Chain Design Software 126

EazyStock

JANUARY 31, 2022

Inventory Management KPIs for Effective Inventory Analysis. But with a wealth of inventory KPIs available to choose from to include in your inventory analysis methods, which ones are the most important to ensure you’re on the right track to optimum efficiency? Managing inventory is a complex business. Inventory turnover ratio.

Inventory Reduction 52

Inventory Reduction Inventory Analysis Optimization Software 52

Log-hub

FEBRUARY 12, 2025

The Future of Matrix-Based Optimization The Future of Matrix-Based Optimization AI and machine learning (ML) take matrix-based analysis to new heights. For example, a global retailer can use a tensor-based approach to manage product demand across multiple warehouses, optimizing stock levels dynamically.

Supply Chain Planning Software 52

Supply Chain Planning Software Supply Chain Design Software Supply Chain Software Optimal Sourcing 52

EazyStock

JUNE 18, 2019

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.

Analysis 40

Analysis Inventory Reduction Inventory Procurement Solutions 40

Talking Logistics

SEPTEMBER 4, 2018

Example A: Fashion Retailer – Business Strategy is short life cycle products. Example B: Supermarket Retailer – Business strategy is to have low cost to compete effectively. Example C: Oil & Gas – Products and services are diverse. Replenishment. What does it mean for inventory? Faster turn over. Manufactured Goods.

Inventory Reduction 96

Inventory Reduction Inventory Logistics Network Optimization Software Cost Reduction 96

EazyStock

FEBRUARY 18, 2020

Let’s take a look at an example. In the example above, the EOQ determined that the warehouse would be placing orders for fidget spinners approx. In our example, the demand for fidget spinners was 15,000 per year, and EOQ was approx. C o = cost per order. C h = cost of holding per unit of inventory. 1,096 units per order.

Ordering 95

Ordering Purchasing Skills How To Inventory 95

Logistics Viewpoints

MARCH 4, 2021

Examples of building intelligence in your processes: Automating product segmentation based on multiple dimensions including revenue, demand variability, supplier lead-times to manage different service level targets. AI/ML technology will help with many aspects of your supply chain planning both on the demand and supply side.

Supply Chain Planning Software 116

Supply Chain Planning Software Scenario Planning Supply Chain Software Optimal Sourcing 116

Logistics Viewpoints

JANUARY 23, 2024

Kinaxis is focusing on the QSR industry first, looking at replenishment for both food and the necessary durable goods. The example they gave me was to understand the yield for a burger with pickles at a QSR. If only 70 percent of burger orders use pickles, this changes the replenishment model for both items.

Supply Chain Planning Software 121

Supply Chain Planning Software Supply Chain Software Supply Chains Scenario Planning 121

Logistics Bureau

OCTOBER 20, 2021

“Paralysis by analysis” is a common term used to describe such a situation, and you can avoid it by monitoring a smaller number of carefully chosen KPIs. As an example of how illuminating the perfect order KPI can be, let’s look briefly at damage-free delivery as an example. x 0.96 = 0.8661.

Supply Chain Design Software 98

Supply Chain Design Software Supply Chain Planning Software Supply Chain Software Supply Chain Design 98

Logistics Bureau

OCTOBER 10, 2024

Slotting is normally restricted to the picking face or online locations only, however it can impose some general rules for stock location in the bulk areas in order to increase replenishment efficiency. Increase replenishment and put-away efficiency. High level Slotting is a minimum requirement for the implementation of a new facility.

Production 74

Production Inventory Reduction Cost Reduction Expense Reduction 74

MTS Logistics

JULY 15, 2024

Retailers are replenishing inventories, leading to higher volumes of imports and exports. The Port of Long Beach, for example, is undergoing a $1.5 Economic Recovery : As economies recover from Covid-19 pandemic-related disruptions, there is a surge in consumer demand for goods, particularly in North America and Europe.

Supply Chain Software 102

Supply Chain Software Cost Reduction Inventory Reduction Supply Chains 102

Logistics Bureau

JANUARY 11, 2021

So, for example, if a sales rep asks them, customers will say, “I want a good level of service, I want a competitive price, and I want a strong relationship with the business.”. To do that we use a technique called conjoint analysis. We need to try to penetrate that. This is pretty useless information, to be honest.

Logistics Network Optimization Software 85

Logistics Network Optimization Software How To Supply Chain Design Networks 85

Blue Grace Logistics

JUNE 21, 2018

Transportation Management Workflow may be defined as a supply chain workflow that connects and links the various parties involved along the chain from, for example, the seller’s warehouse to the buyer’s warehouse. One needs to do extensive and thorough data analysis of all current costs within the transportation and logistics silos.

Cost Reduction 69

Cost Reduction Supply Chain Design Software Optimal Sourcing Supply Chain Planning Software 69

SYSPRO Smarter ERP

DECEMBER 19, 2022

The Economist has mentioned the role of AI in inventory management and demand forecasting, noting an example where AI can forecast in what order items will arrive at and leave a warehouse, so that pallets can be put in the right position. Challenges of IO and AI. Inventory management is not just about shipping goods to customers.

Inventory Reduction 105

Inventory Reduction Supply Chain Planning Software Inventory Scenario Planning 105

Logistics Bureau

JULY 18, 2022

For example, you don’t want to assume that a single logistics strategy and service approach will meet all your customers’ needs. Step 2: Gap Analysis – Customer Requirements and Supply Chain Trends. Now you know what your customers genuinely expect from your outbound and reverse supply chain, so it’s time to undertake a gap analysis.

Inventory Reduction 98

Inventory Reduction Resource Reduction Vendor Strategies Cost Reduction 98

Logistics Bureau

APRIL 15, 2016

Whilst there are variations to the operations of a warehouse; if we consider the direct labour component only, then products need to generally go through the following processes of receiving, put-away, storage, replenishment, picking, staging and dispatch of products to customers. 20%) make up a greater percentage of what we sell (80%).

Waste Reduction 73

Waste Reduction Supply Chain Planning Software Cost Reduction Inventory Reduction 73

MTS Logistics

AUGUST 15, 2022

For example, even earlier this year, every importer was scrambling to find container space at premium levels and bring goods into the U.S. Importers would want to replenish their inventories prior to the Chinese New Year which falls on the last week of January 2023 this year. This demand seemed to be never ending.

Supply Chain Software 105

Supply Chain Software Capacity Supply Chains Replenishment 105

FreightWaves SONAR

MARCH 9, 2021

The analysis of that data helps companies identify reliable insights based on what’s happening today and yesterday, not just what happened last week. Obviously, that’s only one example, but it shows the value of insight and using data that’s available now. .

Data 98

Data Reliability Supply Chain Planning Software Trucking 98

SYSPRO Smarter ERP

DECEMBER 19, 2022

The Economist has mentioned the role of AI in inventory management and demand forecasting, noting an example where AI can forecast in what order items will arrive at and leave a warehouse, so that pallets can be put in the right position. Challenges of IO and AI. Inventory management is not just about shipping goods to customers.

Inventory Reduction 98

Inventory Reduction Supply Chain Planning Software Inventory Scenario Planning 98

Logistics Bureau

DECEMBER 19, 2022

Slotting a warehouse product is the same, for example, as placing your umbrella close to your front door at home, so it’s easy to pick it up and run when it’s raining, and you’re late for work. Slotting Increases Replenishment Efficiency. Productivity improvements in picking, replenishment, and put-away.

Production 98

Production Inventory Reduction Cost Reduction Resource Reduction 98

EazyStock

JULY 19, 2019

Replenishment. For example, when the product is first introduced to the market it will not have any historical demand at all. One common method is to sort SKUs based on ABC analysis, where you classify your inventory into A, B and C classes depending on their annual consumption value. Replenishment. Inventory policy.

Optimal Sourcing 55

Optimal Sourcing Optimization Software Inventory Optimization 55

Logistics Viewpoints

JANUARY 26, 2024

Emergency vehicles, for example, would be exempt, and the California Highway Patrol could authorize the system’s disabling in certain other cases. CargoNet’s analysis of fourth-quarter 2023 data showed a 68% year-over-year increase compared with 2022.

Logistics Network Optimization Software 124

Logistics Network Optimization Software Supply Chain Planning Software Supply Chain Software Inventory Reduction 124

Logistics Business Magazine

AUGUST 11, 2020

Forecasting and replenishment formulas that use historic consumption or average stock days are only effective when demand and lead times remain static and the only way for the user to consider any variance is to continually update their calculations.

Inventory Reduction 67

Inventory Reduction Inventory Procurement Solutions Supply Chain Software 67

EazyStock

FEBRUARY 26, 2020

Introducing inventory optimization methods to your inventory management practices ensures that supply and demand volatility is considered when setting your demand forecasts, stock levels and replenishment parameters. ABC analysis is a simple way to segment your stock based on its value to the business.

Availability 52

Availability How To Inventory Reduction Supply Chain Planning Software 52

EazyStock

MARCH 26, 2018

In Microsoft Dynamics NAV for example, you can set values for reorder points and safety stock levels. You will get notified when you need to replenish, have outliers, or run the risk of a stock out. This includes stock health analysis, service levels and stock turn. Inventory Management and forecasting in your ERP.

ERP 72

ERP Inventory Reduction Inventory Optimal Sourcing 72

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. And if you are looking at any of these tools, do analytics (such as forecasting, order completion time prediction, ‘what-if’ analysis & simulation, etc.)

Optimization Software 124

Optimization Software Supply Chain Design Software Modeling Software Digital 124

SYSPRO Smarter ERP

NOVEMBER 3, 2021

They are part of the quality management process and require an analysis of the top factors that drive returns to determine where interventions are required in the process. They are used to measure how effectively the warehouse processes of receiving, replenishment, fulfilment and shipping perform. Warehousing KPIs.

Manufacturing Procurement 105

Manufacturing Procurement Supply Chain Planning Software Supply Chain Design Software Supply Chain Design 105

EazyStock

MARCH 4, 2021

A basic form of inventory categorization is ABC analysis. With ABC analysis, you group products based on one dimension: value. In these situations you have to think smartly and weigh the costs against each other for replenishment. A items are the most valuable to the business, B items less valuable and so on.

Optimal Sourcing 59

Optimal Sourcing Inventory Reduction Inventory Optimization Software 59

EazyStock

FEBRUARY 1, 2021

For example: With such different demand patterns, it doesn’t make sense to treat every product the same. In each case the future demand forecasting, replenishment and safety stock calculations need to be treated differently. Accurate eCommerce inventory replenishment. You can then define their corresponding service levels.

Inventory Reduction 52

Inventory Reduction Optimization Software eCommerce Inventory 52

Logistics Bureau

JANUARY 1, 2025

ABC Analysis: A form of Pareto analysis applied to a group of products to enable selective inventory management controls. However, the classification parameter can be varied; for example, it is possible to use the velocity of turnover rather than annual demand value.

Supply Chain Planning Software 76

Supply Chain Planning Software Supply Chain Design Software Supply Chain Software Supply Chain Design 76

EazyStock

MAY 11, 2021

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.

Inventory Reduction 52

Inventory Reduction Inventory How To Procurement Solutions 52

Material Handling and Logistics

AUGUST 31, 2018

For example, using smartphones and tablets instead of barcode scanners can make it easier to train your employees and for them to get work done. The collection, access, analysis and utilization of data must be a primary consideration, not an afterthought. They’ll feel more accomplished and less stressed.

Supply Chain Design Software 60

Supply Chain Design Software Supply Chain Planning Software Supply Chain Software Supply Chain Design 60