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On the supply side, constraints such as large manufacturing batchsizes and supplier delivery lead time force organisations to hold some raw materials or components in stock so that products can be delivered to customers. Survey findings. Survey are clear. Navigating and embracing change with inventory management.
A recent survey by Bizrate Insights found that “60% of purchasers switched to online shopping rather than in-store during the pandemic” Further, “32% of them expect to continue to shop online, even after the pandemic”. Further, by using trusted blockchains and advanced data analysis, one can identify demand requirements.
A survey of companies carried out by Deloitte Consulting LLP showed there was little connection between increased inventory levels and improved fill rates. Thus, the purchasing team may try to reduce unit prices, without thinking about batchsizes or delivery frequency, causing inventory levels to rise. Stage 2 – Anticipate.
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