Changes in demand and supply will test how efficiently businesses can adapt their supply chain planning. Having capital tied up in excess stock places businesses at risk. How prepared is your business?

The race to meet customer demand is long underway, and large enterprises are taking the lead, often far outpacing smaller businesses.

It’s either “adapt or die”! If you implement the necessary technology in your business, you should fully understand the ROI of the investment.

Volatile markets, material shortages, and COVID-19 will continue to disrupt supply chains in 2022. What steps can you take to optimize your inventory planning?

The recent increase in stock-outs has impacted consumers’ purchasing decisions. How prepared is your business to manage these stock-outs?

Do you have the right people and inventory processes in place to align with your business goals?

The ABC analysis categorizes your inventory, identifying high-value, fast-moving items that help demand planners work efficiently to meet demand and increase sales.

How do different divisions collaborate to optimize inventory and align with business goals? An integral part of inventory management is maintaining a balanced investment in your inventory

Safety stock is essential in your supply chain, helping you avoid stock-outs and stay on top of demand. But how much is just the right amount?

Reducing long lead times in your supply chain is critical to meeting customer demands on time and reducing inventory costs.

Wondering how much inventory to keep on hand when demand seems to change on a dime? Whether you’re dealing with a sudden spike in orders or shelves full of unsold stock, supply chain fluctuations can be tough to predict.

Optimize your supply chain so you have the visibility to make accurate inventory decisions. What inventory management trends are affecting your business?

Implementing supply chain planning software requires commitment from your team and starts with a well-planned implementation and onboarding process adopted across your business.

A cyberattack in your supply chain can compromise confidential data, resulting in reputational damage, a loss of customers,  and financial harm to your business. R

A healthy cash flow can help a business navigate uncertainty, and understanding the inventory holding costs involved is your first step.

Disruptions in your supply chain operations will put your business at risk, creating costly setbacks if you don’t mitigate as much of the risk as possible.

Key Performance Indicators (KPI’s) help you monitor and make vital decisions for your inventory.

It’s an exciting time to own a packaging company. Shifts in consumer demands, a move towards more eco-friendly materials, and innovative technology are all knocking at your front door.

Inventory is the lifeblood of your business. Strategically managing your inventory to optimize cash flow and product availability is crucial. By fully controlling your inventory levels, you can minimize waste while maximizing profitability. So, how do you achieve this perfect balance?

With the end of the year only a few months away, Black Friday and Cyber Monday are fast approaching.  Are you ready?

Stepping into supply chain planning for manufacturing is like tackling a maze of hurdles.

In Part 1, we discussed the shortfalls in the 7 compelling reasons why not to use a spreadsheet for your inventory planning  In part 2, we look at what is expected from a spreadsheet from an Inventory Management perspective.

When it comes to disruptions in the supply chain, we may not be in control of external factors such as political, environmental, or, as we have recently seen, pandemics.

Most small businesses start off with a few products which are easily managed in a spreadsheet. As your business grows, you gradually start to expand your range.

Excess stock is inventory that is purchased in excess of the demand. But why all the fuss about it?

Suppliers are a fundamental link in the supply chain over which you, as a business, have little control. There is always the inherent possibility that deliveries will not be on time, and even if they are, they may not be complete in terms of what you ordered.

Many senior managers that were born in the ’60s or ’70s were taught by their parents that it was better to buy software, buildings, and other assets to reduce the expenses incurred in interest and grow the capital value of the business. 

Throughout our lives, from the cradle to the grave, we are classified – classified according to our age, sex, religion, political views, demographics, hobbies, opinions, dietary choices, and many more. These classifications are used by companies to sell or market to us, or to determine our risk factors. 

Your supply chain business may be at the stage on the inventory maturity curve where you want to consider extending your ERP functionality to provide better demand planning and forecasting functionality. You won’t be starved for choice as there are many solutions available today.

The foundation of any supply chain business is its Inventory.  As with any “foundation,” if it’s not healthy and stable, the cracks will start to appear. Before long, you will have severe problems on your hands, which take away from the little time you have in dealing with emergencies.

Some form of energy fuelled the 1st, 2nd, and 3rd industrial revolutions. The 1st revolution used steam, the 2nd , electricity; the 3rd saw the emergence of nuclear energy and the rise of electronics with the microprocessor as well as the rise of telecommunications and computers. 

In a previous blog post, we looked at the difference between Inventory Control and Inventory Management. Today, we want to look specifically at Acumatica, a true-cloud ERP application that has seen significant growth over the last few years. Our primary focus here will be on how it helps users with inventory tasks and where inventory-based businesses may need an additional tool.

Improving your inventory balance gives your company a competitive edge: lower costs and higher customer fill rates lead to more success.

Unlock best practices and tips to safeguard inventory, minimizing the risk of damage and spoilage.

Inventory loss is either a result of admin mistakes, spoilage/stock damage, expired products, or even theft, all of which can end up being a substantial amount of loss if there are no prevention plans in place. Let’s look at some ways to minimize these losses before they put you out of business.