Effective stock replenishment methods
Effective stock replenishment methods can have a real positive impact on your business in terms of ensuring stock availability, reducing supply chain risk and enhancing profitability.
Stock replenishment planning, however, is a tricky business. It’s a balancing act to order the right levels of stock to cover your demand, without risking a build-up of excess and obsolete items. At the same time, supplier lead times need to be factored into reorder point and reorder quantity calculations, so there’s always enough inventory to fulfil customer orders.
The secret to achieving great stock replenishment is optimising inventory levels at each stage of the supply chain. Inventory optimisation is the art of achieving high service levels (stock availability), while reducing inventory investment. This is done using statistical demand forecasting and advanced supplier management techniques, whilst dynamically adjusting stocking rules and inventory parameters.
Download our free eBook ‘How to Overcome Common Inventory Replenishment Challenges’ to delve into the detail.
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