Every business person understands that the essence of inventory in the running of a business is huge and should not be overlooked. The reason for this is that overlooking may lead to a number of challenges for a business. Such challenges vary from missed sales, high inventory carrying cost, warehouse space issues, poor customer delivery,… Continue reading
We all know the importance of demand forecasting in the supply chain, but the question people mostly ask which of the many forecasting methods is best suited for us? In my experience, Made-to-stock business has to forecast because that’s how they decide what to build. If there is no forecast and you are buying from… Continue reading
Do you know the importance of inventory management?I am sure most of you will say yes! But do you know the full range of benefits of inventory management? Inventory management enhances business operations with the effective flow of goods and services. Inventory Management and control implies the controlling of business stock or controlling the movement… Continue reading
Machine Learning Forecasting is attracting an essential role in several significant data initiatives today. Year ago, I have mentioned machine learning as top 7 future trends in supply chain. Big retailers, Supply chain, and logistics experts are using Machine Learning Forecasting to aid improve customer engagement and produce more precise demand forecasts better than traditional… Continue reading
Customer Lead Time is unquestionably a buzz word in today’s fast paced business environment, and everyone involved needs an in-depth understanding as to why it is important. Customer Lead Time can be defined as the time it takes from the instant an order is made by a customer, till the moment it reaches the hand… Continue reading
Why Consider Inventory Management Model? One of the leading problems in SCM is the optimization of inventory. Inventory is actually a consequence of other business parameters and policies, such as: Company goals and objectives: sales target, fill rate goals, purchase price variance, etc Operational policies and parameters: lead times, lot sizes, change over times, safety… Continue reading
Inventory Reduction Tips Inventory reduction is one of the key goals for most businesses. In this article I have outlined 12 tried and test tips which I have used in my career and find it effective in terms of achieving results. Reduce Lead Times A reduction in lead time will lead to products / materials… Continue reading
Excess and Obsolete Inventory Policy Guide
is a Manufacturing Operations, Procurement and Supply Chain leader from international multi-site manufacturing experience in Electrical, Hydraulics and Internet industries
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