All successful businesses use data to develop strategies and review their outcomes. But as the number of systems being used increases, the amount of data available for consumption and analysis grows exponentially. This is especially true in inventory management, where new technologies are being introduced all the time, and along...Read more
As global supply chains become more complex, disruption in one link in the chain can significantly impact other areas. Having systems and processes in place to reduce the possibility and subsequent impact of supply chain issues is extremely important. Advancing technologies, such as artificial intelligence and machine learning, make connectivity...Read more
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