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In this four-part blog series we look at the impact the novel coronavirus, Covid-19, has had on supply chains and how inventory optimisation software can help. So far we’ve discussed how to overcome demand forecasting challenges. In this post we focus on inventory planning and how to optimise stock levels...Read more
The coronavirus pandemic has highlighted many weaknesses in supply chains across the globe. Common challenges include unpredictable customer behaviour, unreliable inventory supplies, rising logistical costs and internal capacity constraints. It’s already apparent that those supply chain management (SCM) teams that can adapt their operations and respond quickly to these issues...Read more
Maintaining cost-effective inventory levels is critical for any manufacturer, wholesaler, supplier or retailer. But just how much inventory is the right amount to hold? How can you ensure you have enough to cover fluctuating demand without over-stocking? How long can you hold ‘healthy’ stock until it becomes excess or even...Read more
Obsolete inventory is a term that refers to stock that has seen no demand for a prolonged period of time e.g it has not been sold to customers or used in production. This is usually because it has reached the end of its product lifecycle. Obsolete stock is often a...Read more
In previous posts we’ve discussed ABC classification models and how to use them to improve inventory control and management. ABC analysis can be very effective as a simple way for inventory planning teams to prioritise their workload and reduce hours spent managing inventory. However, it does have its limitations. ABC...Read more
If you type ‘excess stock’ into any search engine you’ll find a wealth of companies offering to buy your surplus inventory so you can instantly get a cash injection and free-up space in your warehouse – but at what cost? Excess inventory has many disadvantages, including the risk of it...Read more