Inventory Turnover Ratio
It is imperative to the system of operations that businesses take note of what stock is selling and how quickly. This helps businesses assess the efficiency of their inventory management, demand forecasting, and marketing strategies, allowing them to make any necessary adjustment to improve their sales. The way in which this is usually calculated is […]
Demand Forecasting: Basics, Importance, and Techniques
Demand forecasting, helping businesses to make informed stocking decisions based on research on consumer trends and demands, is a necessity in optimising inventory management. This article will be assessing and explaining the importance of demand forecasting, the different ways in which to forecast demand and the steps taken to achieve this, as well as how […]
What does Deadstock Mean? Your Guide to Avoiding It
The above image provides a somewhat accurate depiction of a common issue in the supply chain and logistics industry: the excess of stock, often referred to as deadstock. The main problem surrounding deadstock is one that all businesses aim to avoid – the loss of money. This occurs in multiple forms, whether as a result […]
How to Manage Perishable Inventory
The supply chain world is seeing an increased demand for improved planning of perishable inventory and how to manage it. Perishable inventory can be referred to products, goods, or stock that deteriorate in value in direct proportion to their expiry date. In layman’s terms – goods with a short shelf-life that lose their value after […]
Excess Stock: Absolutely Everything You Need to Know
Table of Contents 1. Excess Inventory Definition Products don’t always sell as quickly as anticipated by businesses. There are some items that stay on the shelves for too long because of consumers’ lack of interest in them. So eventually, these approach the end of their life cycle without getting sold. And that’s exactly what excess […]
How E-Commerce Can Make a Difference with Sustainable Inventory Management
Companies worldwide are making the stride to go green, meaning they are making decisions in their daily operations that will benefit the environment in addition to achieving their goals. There are numerous areas to consider for making these sorts of conscious business decisions. Lean and Green Business considers, “one crucial aspect of business that is […]
3 Ways How Technology Simplifies Demand Forecasting
There is no overstating the need for every enterprise to quickly and accurately anticipate the demand for a product. Demand forecasting, as the name obviously implies, forecasts demand. Such ability is essential for every company that intends to be competitive and, ultimately, successful. Demand forecasting techniques have evolved dramatically as the years roll. Traditional methods […]
Sales Forecasting Software vs. an Excel Sheet – Which One Wins?
In this e-commerce-driven world, there is no way out without forecasting sales. It’s always a hot topic in the financial world. It plays a significant role in investor relations and inventory management, setting marketing and expense budgets and more. All e-commerce sellers thrive for accurate forecasts, but getting to that point has never been easy. […]
Demand Sensing is the Next Generation for Demand Forecasting, but Why Now?
Why can demand forecasting develop into demand sensing now and not before and the answer is simple: data! Today due to the massive data generation combined with powerful analytics, algorithms and artificial intelligence (AI) like that from Intuendi, as well as cheap data storage, make demand sensing possible whereas before we merely had to stick […]
Why We Are Looking at Demand Sensing for Demand Forecasting
As Dell Computer, Amazon and Walmart demonstrate, thriving companies embrace agile supply chains and master the nuances of flexible manufacturing. Unilever’s logistics managers scrutinise demographics in each of the consumer goods company’s markets to tailor products and logistics. Inditex, the parent of “fast-fashion” chain Zara, has accelerated its design, production and distribution so it can […]
