Demand Planning KPIs: A Guide to Essential Metrics to Know

KPIs

Demand planning is a crucial process for any business that wants to optimize its inventory, production, and distribution. Important factors of demand planning include: forecasting future demand for products or services, meeting the customer’s needs and expectations, and the planning thereof. However, it is important to not underestimate the task of demand planning, as it […]

Just in Time (JIT) Inventory: A Comprehensive Guide

JIT

Inventory management is vital for businesses, impacting finances, operations, and customer satisfaction. It optimizes costs, ensures products meet demand and efficiently manages cash flow. Businesses can analyze inventory-related data to plan in advance, giving them a competitive edge and the ability to swiftly respond to market changes. Just in Time (JIT) inventory, the hero of […]

ABC Analysis for Inventory Management 

ABC analysis is a method used in inventory management and business decision-making to categorize items or products into three categories based on their importance or value to the organization. The ranking or categorization of inventory items is dependent on their consumption value regarding material and distribution management. The purpose of ABC analysis is to help […]

What is an ERP System, and How Does it Work?

Enterprise Resource Planning (ERP) software improves the efficiency of operations in production-based or distribution businesses. It works by merging separate applications for accounting, procurement, project management, human resources, risk, and supply chain activities into one platform—and consolidating all information under one umbrella. What is Enterprise Resource Planning (ERP)? So what are ERP systems? Enterprise Resource […]

Economic Order Quantity: Optimizing Inventory with EOQ

Economic Order Quantity

Efficient inventory management serves as a cornerstone for the success of businesses, irrespective of their size or industry. It ensures the seamless flow of goods, prevents stockouts, minimizes holding costs, and maximizes customer satisfaction. Proper inventory planning allows businesses to maintain optimal stock levels, avoid excess inventory, and meet customer demands promptly, leading to improved […]

Supply Chain: Definition,Types and Challenges

Supply Chain

Managing all aspects of a product or service, from procurement to sale, from finances to the flow of goods, has resulted in an entire industry being built – the industry of supply chain management and supply chain logistics. By effectively managing the flow of goods, information, and resources from suppliers to consumers, organizations can streamline processes, minimize costs, […]

Demand Planning: Process & Functionality Explained

Demand_Planning

Ensuring that the correct amount of inventory is available at all times, without running into over-stocking or insufficient stock issues can be quite a daunting task when not knowing where to begin. The ability to accurately predict future demand allows for a more thorough organization of inventory, giving businesses a larger opportunity to provide their customer’s […]

Periodic Inventory System: Definition and How It Works

periodic inventory system

So you’ve recently been considering which inventory-tracking system would suit your business and its operations best? You have come to the right place! After having just evaluated the inner-workings of the perpetual inventory system in our previous article, we are now shining a spotlight on the periodic inventory system. Follow along for a comprehensive guide […]

Safety Stock: a Supply Chain Management Buffer Against Unpredictable Events

Safety Stock

A safety stock is a quantity of items that a company would like to keep in their inventory in order to be able to satisfy the demand even in the presence of some unpredictable events. Before defining more precisely what the safety stock is and why it might be necessary, it is worth remembering what […]

AI Demand Forecasting: Quick Guide on How to Use It

Neural Network

Demand forecasting, a topic often discussed in the Intuendi network and communication channels, is a vital feature in the decision-making process, offering businesses deeper insights into market trends and consumer behaviour. With the introduction of artificial intelligence into the supply chain world, demand forecasting has become an easier and quicker endeavor with algorithms that are […]

Supply Chain Management: A Simple Guide to SCM

Supply Chain Management

Managing all aspects of a product or service, from procurement to sale, from finances to the flow of goods, has resulted in an entire industry being built – the industry of supply chain management and supply chain logistics. By effectively managing the flow of goods, information, and resources from suppliers to end consumers, organizations can […]

The Bullwhip Effect

The Bullwhip Effect

It is difficult to manage, in a suitable and efficient way, a complex supply chain. Optimization comes as a very useful tool in trying to cut down costs, while scheduling operations in such a way that deadlines are met, resources are not exhausted, and cost is optimized.  However, there might be additional difficulties right behind […]

Inventory Management Software: Optimize Efficiency

Incorporating inventory management software into the inner workings of your warehouse has become a necessity for survival in the current, technological age. The implementation of stock management software has brought about unrivaled benefits, allowing for a smoother running of operations with a notable decline in the number of errors made. This article will be looking […]

Forecast Accuracy: Definition and Formula

Forecast accuracy, aptly named, is the accuracy of a company’s demand and sales forecasting. Helping maintain the correct levels of inventory and bettering stock control, accurately forecasting the demand of one’s consumer base is imperative for business operations to continue successfully. This article will, therefore, be exploring all aspects of forecast accuracy – how it’s […]

Stock Control: Key Principles and Techniques

Stock Control

In the bustling world of supply chain management and logistics, stock control takes centre stage as the driving force behind a company’s inventory management. But what is it? Stock control ensures that a company’s stock level remains within certain parameters, so as not to run into issues of overstocking or running out of stock.  Various […]

What does Deadstock Mean? Your Guide to Avoiding It

Deadstock packages

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 […]

What is a Product Life Cycle and How to Manage it

Any product you sell in-store or online that lands up in the hands of consumers, has a product life cycle. Typically, this life cycle starts once a product has been introduced to the market, and it will continue to live on until it becomes obsolete. There are five key product life cycle stages, namely, development, […]

Why AI Demand Planning Tools are a Must-Have for E-commerce in 2021

Growing eCommerce businesses must establish a demand plan to maintain customer satisfaction while simultaneously minimizing excess inventory and reducing stockouts for popular products. The main objective for companies of all sizes is to increase profitability and meet their customers’ demands. But how can businesses choose effective demand and inventory planning methods that will increase sales […]

What is Fill Rate and How It Affects Your Business

Since you are reading our article now, we are almost certain you are operating with a just-in-case inventory management system and maintain a full inventory. And the fill rate is a metric that will provide valuable insights on how reliable you are for your consumer as a supplier and how professionally you manage your resources. […]

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 […]

How to Manage Your Inventory in Shopify?

Over 800,000 stores are available on Shopify – one of the top e-commerce platforms globally, over 200 million online shoppers are visiting Shopify-powered stores and the platform recently reached $100 billion in sales. If your online store, your buyers, and your revenue are included in the numbers mentioned above, we have a comprehensive guide for […]

What is Fill Rate? Definition, Formula, & Calculation

Fill rate

The fill rate metric can provide valuable insights into how reliable you are, as a supplier, to your consumers, and how professionally you manage your resources. But why is measuring a company’s fill rate so important? A company’s fill rate, or fulfillment rate, is the percentage of orders a company is able to complete and […]

What Is SKU Number And How Can You Set It Up?

What can be worse for you as a seller than losing a potential sale because of poor inventory management? What can be better than using data-driven inventory management software and tracking every single item in your warehouse? To feel less frustration and provide more positive buyer experience, SKU codes take the stage, making your stock […]