What are the key elements in inventory planning and management?
Inventory planning and management are important aspects of any business that sells physical goods. They involve forecasting, ordering, storing, tracking, and optimizing the inventory to meet customer demand, reduce costs, …
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How S&OP Can Boost Your Business Performance
The Association for Supply Chain Management (ASCM), defines Sales and Operations Planning (S&OP) as a process to develop tactical plans that provide management the ability to strategically direct its businesses …
Supply Chain Hot Topics for 2024
In this article, we will discuss hot topics in the supply chain industry for 2024. In the past years supply chain management has faced many challenges. These include the global …
Supply Chain is Like Nature, it is all Around Us
I was intrigued when I saw this quote by Dave Waters, “Supply Chain is like nature, it is all around us.” I thought yes, that is correct, and decided I …
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Supply Chain Plays a Crucial Role in Today's Global Economy
The supply chain plays a crucial role in today's global economy, facilitating the flow of goods and services across the world. It encompasses all the activities required to produce, transport, …
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Warehouse Data Visualization Tools and How They Can Transform Operations
Data visualization tools are digital applications, platforms, or dashboards that take data and transform them into visual representations. Data visualization tools are valuable for warehouse operations because they show insights …
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7 Disadvantages of Poor Inventory Forecasting
Businesses with physical goods on hand face stock and inventory management challenges. While they tie up staggering amounts of capital in inventory, most fail to track their merchandise or leverage …
How to Minimize Forecasting Errors
Inventory-based businesses are constantly faced with forecasting errors. They may fail to predict the high demand for inventory, causing missed sales. Or they may fail to accurately predict a decline …
5 Reasons to Diversify Your Suppliers
Does your supply chain rely on multiple factors to keep up a steady stream of goods you need for your business? To keep your business flowing smoothly you need to …
The Do's and Don’ts of Demand Forecasting
As an inventory-based business, one of the most important things you can do is engage in successful demand forecasting. Demand forecasting is an essential tool that helps you make sure …
