Put simply, supply chain optimization means using technology to get inventory to the right place at the right time – at the lowest cost and highest profit for your business. Supply chain optimization can be explained as aiming to minimize operating costs and streamline processes throughout the supply chain to...Read more
A supply chain strategy explains how a company will bring goods into the business and get them out to customers as effectively as possible. Considering every phase in the supply chain, such as sourcing goods, logistics and delivery, the strategy optimizes operations to reduce costs and maximize profits. Supply chain...Read more
It’s been over two years since the far-reaching effects of the Coronavirus pandemic on global supply chains started to take the world by surprise. Fluctuating demand and supply volatility have made accurate demand forecasting even more challenging for two reasons: Using last year’s sales data as a base for forecasts...Read more
For years companies have operated a just-in-time (JIT) supply chain model, only ordering stock items when necessary and carrying minimal inventory to reduce carrying costs. The pandemic has led to various global supply chain issues, such as increased demand volatility and trouble with stock availability. This has seen a switch...Read more
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
Since the COVID-19 pandemic took hold, businesses across the globe have faced stock availability challenges. Delays at manufacturing sites, container shortages and a lack of raw material have all led to stockouts. These issues have arguably been compounded by container and truck driver shortages as well as global shipping delays....Read more