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
The effects of COVID-19 on global supply chains have been far reaching. The shipping industry in particular has been hit due to the displacement of containers blocking ports and causing global shortages. Businesses around the world continue to be affected by longer lead times, which are made worse by global...Read more
Managing inventory is a complex business. Lots of activities, processes and people are involved in ordering, receiving, storing, picking and shipping items with the ultimate aim of keeping customers happy with the correct orders that are on time. Inventory management KPIs are important as they help analyze and track the...Read more
The past few years have seen unprecedented supply chain challenges largely stemming from COVID-19 disruptions. As 2022 takes hold, many of the same challenges are present. Consequently, companies are becoming more focused on anticipating, reacting to, and planning for the unexpected through their supply chain strategies. In 2022, key supply...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