Demand forecasting techniques play a critical role in inventory management. If you can accurately forecast market demand, you can take action to ensure you hold the correct stock to maximize sales and profit. However, producing an accurate inventory demand forecast is no mean feat. In this post we uncover eight...Read more

If you’re wondering what is the best way to manage inventory with hundreds or even thousands of SKUs, you’ve found your answer: ABC classification (otherwise known as ABC analysis). In this post, we’re going to discuss how you can classify your inventory into three ABC categories and introduce the concept of...Read more

As globalization extends supply chains around the world, the likelihood of negative impacts stemming from supply chain disruption increases. Supply chain disruptions are an inevitability for any supply chain, though the severity of the impacts can vary. In this piece, we’ll take a look at some of the top types...Read more

The concept of inventory optimization helps many businesses improve their inventory turnover – without damaging stock availability. This post will explain how, but first, let’s deal with a few simple definitions. Many stock-holding businesses have a significant amount of working capital invested in inventory sitting in their warehouse. The quicker...Read more

You already know the biggest supply chain disruption of 2020: the COVID-19 pandemic. Despite increasing vaccine approval, the pandemic is far from over. A vaccine won’t magically eradicate the coronavirus; instead, it will take the vaccine coupled with additional widespread safety measures to usher in a ‘new normal’ – optimistically,...Read more

Many organizations have an enterprise resource planning (ERP) system to collect, store, manage and interpret data from a host of different businesses processes. ERP systems typically allow companies to undertake tasks such as purchasing, production planning, service delivery and customer management – all from one single platform. When it comes...Read more