Logistics Bureau

OCTOBER 10, 2022

How to Improve Forecast Accuracy for Optimal Inventory. Ignoring the presence of forecast biases which skew replenishment patterns. The frequency at which you place orders to replenish each SKU is another factor that impacts inventory levels. How to Calculate Economic Order Quantity. 3: Supplier Lead Time.

Inventory Reduction 105

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CH Robinson Logistics

DECEMBER 15, 2021

However, with this year’s volatility, I was also given a front-row seat to a new level of hyper collaboration – including individuals going out of their way to help each other, more strategy sessions between shippers and forwarders, and continually leaning into historical data and current market insights to find smarter solutions.

Sourcing Strategies 90

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Logistics Bureau

JULY 18, 2022

Once you have gathered the data relating to your customers’ needs, you should be able to see if a single logistics strategy will work for your entire customer base, or whether you need to take a segmented approach. Then, you can analyse your current supply chain capabilities using the research results and your data concerning customer needs.

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Conger

MAY 24, 2023

Want to learn about automatic replenishment? Keep reading to find out: What automatic replenishment is How it works Who can benefit from it Its advantages and disadvantages The different types Best practices for choosing a system and vendor And lots more! Table of Contents What Is Automatic Replenishment? Let’s dive in!

Replenishment 40

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Logistics Bureau

NOVEMBER 16, 2020

The main lack of talent is in middle management, especially in big data analytics and supply chain planning, where the shortage is around 54%. Certified Supply Chain Professional : Learn how to develop streamlined supply chain operations. And don’t be afraid to ask their advice on how to start out in the industry. Data Managers.

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Stord

MARCH 24, 2020

Inventory replenishment becomes a challenge as a result and you risk not being able to fulfill customer orders or reorder from the manufacturer. So how do you prevent inventory stockouts when your demand forecasting didn’t allow for an event like COVID-19? What SKUs sell out the fastest in that region?

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EazyStock

NOVEMBER 17, 2020

Many organizations have an enterprise resource planning (ERP) system to collect, store, manage and interpret data from a host of different businesses processes. This can include statistical demand forecasting , advanced inventory planning and automated replenishment activities. What is ERP inventory management?

ERP 98

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Logistics Viewpoints

APRIL 19, 2023

These decisions are made in a synchronized manner, using real-time or near real-time data, AI/ML and optimization technology, while having the humans setting the goals and managing the parameters. In the digital step, companies integrate all data sources to consolidate data on a cloud platform.

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WorkWave

JUNE 27, 2024

Data from the Bureau of Labor Statistics (BLS) shows that the demand for heavy and tractor-trailer truck drivers is expected to grow by 2% from 2021 to 2031, yet the supply is not keeping pace. During economic downturns, driver recruitment slows down, and as the economy recovers, there is often a lag in replenishing the driver pool.

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FreightWaves SONAR

MARCH 23, 2021

And rather than waiting until things go wrong, shippers, carriers and brokers can apply these seven last-minute thoughts can help bring to light what strictly a business should focus on and how to apply predictive rates to measure the likelihood of improved operations. Download the White Paper.

Resource Reduction 98

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Blue Grace Logistics

NOVEMBER 3, 2022

How to Prepare an Efficient Transportation Budget Show Submenu Resources. Learn how to build your shipping budget correctly. How to define your transportation needs. It means you had a good holiday season and need to do a tremendous amount of inventory replenishment early in the year. The Logistics Blog®. Whitepaper.

Efficiency 62

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Logistics Viewpoints

APRIL 22, 2024

More importantly, we needed to capture the knowledge of our subject matter experts on how to make all of that happen.” It learned how to solve problems from the people who solve those problems every hour of every day. It analyzes new and historical order data, customer preferences, and transactions. What is Causal AI?

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Logistics Viewpoints

JUNE 7, 2021

When companies implement a demand management or replenishment system, the goal is usually to improve customer satisfaction while holding less inventory. The implementation also involves leveraging weather data to improve forecasting. This data leads to a better baseline forecast. Pinnacle Propane Delivery to a Farm.

Optimal Sourcing 94

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EazyStock

MARCH 17, 2021

In this piece, we’ll take a look at some of the top types of supply chain disruptions, the impacts that they have on your supply chain, how to mitigate whatever risk you can and finally how you can handle supply chain disruptions once they occur and come out on top. Types of Supply Chain Disruptions. Impacts from Disruptions.

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EazyStock

FEBRUARY 1, 2021

Here are ways you can optimize your inventory management practices for eCommerce competitiveness: How to Manage eCommerce Inventory. Using historical demand data alone is not enough to predict your future demand and prevent stock outs – especially when markets are unpredictable and you carry items with erratic and sporadic demand.

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FreightWaves SONAR

DECEMBER 11, 2020

An intimate relationship exists between truckload providers and ocean import market data. Fortunately, it’s easier than ever for truckload providers to lower detention and demurrage risk with these uses of ocean import data. Improve replenishment planning with access to ocean import data. That one is the simplest of all.

Data 59

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Ship Monk

NOVEMBER 21, 2022

This article will explain what reorder points are and show you how to calculate them. How to Calculate a Reorder Point. How to Calculate Demand During Lead Time. Improving Data. Demand forecasting and inventory management rely on accurate data. What is a Reorder Point? There’s a formula for that!

How To 52

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EazyStock

OCTOBER 20, 2020

There are hundreds of inventory control blog posts on how to organize warehouses, track goods and pick and pack efficiently. In this post we’ll look at 6 inventory control techniques that will specifically show you how to control your stock levels, help you optimize your inventory and maximize profits. Understand your demand.

Inventory Reduction 98

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SYSPRO Smarter ERP

DECEMBER 19, 2022

Both IO and AI can be used to plan how much inventory to hold where, and when to order it. They have become applicable because the large amount of data they require is now created and stored by businesses, thanks to advances in computer technology. Inventory optimization. Using AI in inventory management.

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EazyStock

MARCH 22, 2022

Fluctuating demand and supply volatility have made accurate demand forecasting even more challenging for two reasons: Using last year’s sales data as a base for forecasts is a ‘no go’, as demand fluctuations due to the pandemic skew the data. How to overcome demand forecasting challenges. Use appropriate historical data.

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Logistics Bureau

JANUARY 25, 2017

and leverage their supply chain skills and know-how to help them move to employment in that sector. Data and processes are fundamental to supply chain work. Understanding data and being able to draw actionable conclusions from it, using IT or other tools made available, is a capability of growing importance.

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Logistics Viewpoints

SEPTEMBER 16, 2021

Limited Granularity of Data Leads to a Lack of Actionability. When a shipper cannot understand the various factors playing into market volatility, this is known as limited granularity of data. Traditional Inventory Replenishment Strategies No Longer Work.

Supply Chain Design Software 109

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EazyStock

NOVEMBER 18, 2019

Companies that have not accurately forecasted a decline in demand or effectively reduced their stock replenishment policies often times are left with large quantities of obsolete stock in their warehouses. How to Reduce Excess & Obsolete Inventory. In this stage of the product life cycle, there is no market demand for the product.

Inventory Reduction 40

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RPA Labs

OCTOBER 28, 2021

High error rate due to outdated information and decisions based on inaccurate data. Poor data processing time leads to delays and backlogs, and scheduling conflicts. Logistics Process Workflow Automation Saves Back-Office Resources and Streamlines Replenishment.

Supply Chain Software 52

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3PL Links

JULY 7, 2023

The Role of Data Analytics in Supply Chain Management | Image source: Pixabay This article describes the transformation that data analysis and the supply chain are fostering and how it will impact business intelligence. Intelligence-driven businesses are interested in supply chain management and data analysis.

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SYSPRO Smarter ERP

DECEMBER 19, 2022

Both IO and AI can be used to plan how much inventory to hold where, and when to order it. They have become applicable because the large amount of data they require is now created and stored by businesses, thanks to advances in computer technology. Inventory optimization. Using AI in inventory management.

Inventory Reduction 98

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Logistics Bureau

DECEMBER 19, 2022

Slotting Increases Replenishment Efficiency. If warehouse product slotting increases productivity and efficiency in picking, thereby reducing warehouse costs, it stands to reason that it does the same for replenishment and put-away activities. Productivity improvements in picking, replenishment, and put-away.

Production 98

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Logistics Bureau

JULY 10, 2018

The demand-driven SCM concept therefor uses actual demand instead of error-prone forecasts to drive replenishment.” This necessity is concerning for some company leaders, who fear conflicts of interest, information leaks, and other data-security vulnerabilities. ” – Simon Eagle, Demand Driven Institute.

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EazyStock

MAY 11, 2021

The graph below illustrates how 80% of a company’s sales revenue comes from 20% of their stock items: ABC analysis & The Pareto Rule for inventory management. How to Calculate ABC Classification. Here is a working illustration of how to divide your inventory using annual consumption value.

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GoShip Blog

DECEMBER 23, 2022

When this happens, many small business owners sell unavailable items on backorder and ship them to the customer after replenishing their inventory. How to Reduce Backorder? The most obvious way to minimize backorders is by replenishing your stock regularly. Out-of-stock vs backorder. Communicate with Manufacturers and Suppliers.

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EazyStock

DECEMBER 13, 2021

A basic risk of stockout spreadsheet can be easily set up using the following data: Current stock items, items on order and in transit. Ensuring your Data is Accurate and Up-to-Date. EazyStock takes a feed of your current stock data and uses historical sales to forecast upcoming demand. Demand forecasts. Lead times.

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EazyStock

OCTOBER 23, 2020

With accurate demand forecasts that account for seasonality, you can optimize stock levels and make informed decisions on safety stock levels and replenishment rules. How to forecast for seasonal demand. The post How to Manage Seasonality of Demand to Increase Forecasting Accuracy appeared first on EazyStock.

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Logistics Viewpoints

MAY 4, 2022

The initial resistance came from the omni-channel shift – inventory and location information into the cloud was seen as too much data to not have “on-hand.” This in turn is helping to make better informed decisions on how to fulfill an order that will not only satisfy the customer, but also be done in the most cost-efficient manner.

Distribution 113

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EazyStock

JANUARY 21, 2021

EazyStock is one such add-on that helps customers in need of more advanced inventory forecasting, planning and replenishment. It stores a wealth of data about every product and updates stock levels based on outgoing sales and incoming purchases. Microsoft Dynamics 365 Inventory Management Features.

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EazyStock

NOVEMBER 21, 2019

Forecasting accuracy can be affected by ‘outliers’ or ‘fliers’ in the data. An outlier is a data point that is not considered to be part of the overall pattern of demand for a product. A demand outlier can either be overly high or overly low compared to other data points in the data series.

Optimization Software 40

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EazyStock

JUNE 18, 2019

The graph below illustrates how 80% of a company’s sales revenue comes from 20% of their stock items: ABC analysis & The Pareto Rule for inventory management. Here is a working illustration of how to divide your inventory using annual consumption value. How to Put your Data to Good Use.

Analysis 51

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Material Handling and Logistics

AUGUST 31, 2018

The solutions to supply chain problems boil down to the right combination of three factors—technology, data and processes. As explained by the popular saying about how to eat an elephant (“one bite at a time”), overwhelming problems are best solved by simplifying how you look at the issue and taking small steps. That’s not true.

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