A manufacturer’s inventory management strategy is a critical link between supply chain management and manufacturing. For years, there has been an increased focus on inventory optimization and controlling cost while ensuring an adequate supply of materials and components. But today,…
Inventory is a sensitive issue for any company. Too little, and orders go unfilled. Too much, and precious capital is tied up, affecting equipment purchase plans, reducing cash flow, and even impacting taxation. Across a wide range of industries, lowering…
Small businesses have traditionally had a disadvantage in automation and software compared to larger competitors. That’s because inventory management systems and software were originally on-premises systems that required a significant investment in licenses, upgrades, server and distribution infrastructure, and IT…
Inventory management and demand planning are considered important parts of the supply chain. Yet, many look at them as different and somewhat disconnected functions within supply chain management. In one view, demand planning is a forecast of what should or…
In the wake of a series of significant disruptions in the last few years, supply chain professionals and corporate decision-makers are searching for ways to build more resilient supply chains. This has led them to redefine what supply chains should…
Both demand and supply planning and materials requirement planning (MRP) have been around for a long time. It’s hard to imagine a modern manufacturing company without either one. With a robust MRP system, manufacturers can better control inventory, plan production…
There has rarely been a time when the need for agility in demand planning for food and beverage was more evident than now. With the carnage of the last year slowly beginning to fade, many people within the food and…
By utilizing supply chain software, companies can impact their value streams to unlock greater value from bottom to top. Value streams are the actions undertaken within a manufacturing or service company that drives customers to realize the worth of the…
Forecasting Vs Demand Planning Companies use a variety of tools to predict where their business currently is and where it is headed. By “reading the tea leaves”, planners attempt to ensure correct stock levels, optimize inventory control and inventory value,…
No matter the size of the company, decisions made by managers, leaders, and other key decision-makers define the success of any enterprise. And few areas are as important as decisions made concerning a company’s supply chain. Yet the numbers indicate…