Managing inventory in 2019 has become an even more complex challenge according to our industry peers and PINC customers. In my previous article titled “The High Cost of The One Percent Inventory Accuracy in Your Supply Chain“, I explored significant challenges, costs associated to inventory management, and what one percent of inventory accuracy represents to your operation. In a recent podcast, an industry professional described how to better manage inventory in today’s dynamic business environment […]
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Archive for Inventory Management
Success in omnichannel commerce requires solutions designed for the way customers shop today. Retailers should look for a demand forecasting and inventory optimization solution that understands digital demand is now being fulfilled through physical stores and can account for channel demand patterns and emerging omni-fulfillment strategies.
Read More →If your company is experiencing inventory accuracy problems, the problem extends across your entire logistics network—and right to your end customer. Here’s how digital inventory technologies are helping companies solve those challenges. The supply chain industry is going through a transformation because customers’ expectations are changing and labor is hard to find and retain. If you add to that the national warehouse vacancy rate hovering at record lows and warehouses bloated with inventory pulled in […]
Read More →Two Kardashians just Tweeted and Instagrammed a photo of your product. A tidal wave of online orders spiked your system. Is your warehouse ready? Is it ready to deliver same-day? This might sound extreme, but it’s exactly where we are today in supply chain. Agility and rapid fulfillment no longer fall into the “buzzword” category—they’re the expectations of your customers. The key to delivering next-day or same-day fulfillment effectively and profitably is cut differently for […]
Read More →I am writing this post from Orlando, FL, where I am attending JDA Focus 2018. The theme of the conference was “Expectations. Fulfilled.” and based on some of the new product strategies that were announced, it seems to be an appropriate theme. The big news from the conference was the launch of the JDA Luminate Platform, a connected platform that combines next generation digital technologies with product enhancements to JDA’s core solutions. I talked with […]
Read More →Even though 90% of inventory is stationary in the supply chain, inventory accuracy at distribution centers, warehouses, and plants ranges from 89% to 99%*. In retail stores, this number drops to below 60%**. That’s because most of the inventory management process is still a manual activity. Knowing what inventory is on hand at any given time in the supply chain—and then tying that data to transportation and delivery—is a never-ending challenge for most companies. Overcoming […]
Read More →Amazon opened its check-out free Amazon Go convenience store to the general public last week. This high-tech low-touch store is a busy urban introvert’s dream. The opening triggered a second wave of media coverage that included descriptions of user experiences and a number of possible explanations about how Amazon is able to manage this high-tech customer experience. Amazon states on its website that this shopping experience is made possible by the same types of technologies […]
Read More →They are: Increased frequency of inventory checks Increased certainty of inventory levels Reduced losses due to inventory shrinkage More reliable financial reporting Better visibility to out-of-stock and excess inventory Increased velocity of order picking Savings in personnel costs or operations downtime Elimination of resources and equipment Staff redirected to handle high value activities Safer environment for employees I continue to stress that every company on the planet, that has a significant supply chain operation, is […]
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Supply Chain Brief
How The Modern Retail Store Is Wreaking Havoc on Wholesalers
Connected commerce has affected change at every echelon of inventory asset management. Retailer requirements now demand that wholesalers offer a new set of capabilities to fulfill their role in delivering on the customer value chain. As a result, wholesalers must implement a strategic inventory management solution to facilitate replenishment for their tier-one customers.
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