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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
The economic order quantity (EOQ) model is a fairly popular means of calculating inventory reorder quantities and working out how many orders to place per annum. However, EOQ is often criticised for being over-simplistic and relying on consistent data inputs which don’t really reflect reality. In this post we take...Read more
The economic order quantity model is used in inventory management to support replenishment activity. But just how useful is it in reality? Can such a simple formula really be applied to today’s complex supply chains? In this post we find out more… In inventory management, economic order quantity (EOQ) is...Read more
“Sorry, that product is out of stock” is a phrase that no one wants to hear – whether you’re the customer or the seller! A few years ago it might have been okay for customers to wait a few days for their goods to come back into stock, but in...Read more
Stock availability and speed of delivery are key factors for wholesalers in both B2B and B2C marketplaces. If you can help your customers meet their customers’ expectations, in terms of convenience, choice and price, you’ll become their long-term ‘go-to’ supply chain partner. Efficient inventory replenishment processes are key to achieving...Read more
In some of our recent blog posts we’ve looked at the disadvantages of carrying excess inventory and how to reduce excess inventory. Below we’re going to investigate why businesses end up with too much stock in the first place and why they get caught out by excess inventory traps. But...Read more