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
Smart inventory managers start planning for Chinese New Year (aka Lunar New Year) many months prior to the event. The more prepared you are, the greater your ability to ensure that this annual supplier shutdown causes as little disruption as possible. This post looks at the challenges brought about by...Read more
The product life cycle model is not only important to marketing teams and product managers; it’s also critical to any inventory planner that manages demand forecasting and stocking policies. In this blog post we’ll find out why! The product life cycle describes the different stages that a product goes through...Read more
Determining appropriate levels of stock across a business can be very challenging. If you carry too much inventory, you risk tying-up much needed working capital. But if you don’t carry enough, you face stock-outs and reduced service levels. An important piece of this puzzle is to accurately calculate safety stock levels. Safety...Read more
Reordering point planning involves calculating when stock levels hit a point at which it’s the right time to reorder. This often involves taking into account demand forecasts, current stock levels and lead times, but there are simpler options. It’s important to get reorder point planning right; if you order too...Read more