You don’t need to have a complex system for managing inventory.Simple is Better. As your size and your needs grow you can start looking at more available options in the market.Starting with Excel or Google Docs also might be good enough. Get started though.That’s the key. The best way to Read more…
Do you have any memorable experiences regarding inventory?Comment below๐Snippets of a discussion: “One experience I had was in the summer of 2010.We received a shipment of diamond earrings. They were like a popular design that was currently trending. We decided to put them on the floor with the other popular Read more…
[SUMMARY]10 Tips for Demand Planners https://lnkd.in/gK4pbvK6 Some Rules to Keep in Mind for Demand Planners 1.๐๐ผ๐ป’๐ ๐๐ฟ๐๐๐ ๐๐ผ๐๐ฟ ๐ด๐๐ ๐๐ต๐ฒ๐ป ๐ถ๐ ๐ฐ๐ผ๐บ๐ฒ๐ ๐๐ผ ๐ฑ๐ฒ๐บ๐ฎ๐ป๐ฑ ๐ฝ๐น๐ฎ๐ป๐ป๐ถ๐ป๐ด, ๐๐ฟ๐๐๐ ๐๐ผ๐๐ฟ ๐ฑ๐ฎ๐๐ฎ! Because you think a certain product is going to be hot, doesn’t mean it will be.For example, don’t stock up on “unicorn Read more…
Rules to keep in mind for Demand planners (3/3) 7๏ธโฃ ๐๐ผ๐ป’๐ ๐ผ๐๐ฒ๐ฟ๐น๐ผ๐ผ๐ธ ๐น๐ฒ๐ฎ๐ฑ ๐๐ถ๐บ๐ฒ ๐๐ต๐ฒ๐ป ๐ถ๐ ๐ฐ๐ผ๐บ๐ฒ๐ ๐๐ผ ๐ถ๐ป๐๐ฒ๐ป๐๐ผ๐ฟ๐ ๐บ๐ฎ๐ป๐ฎ๐ด๐ฒ๐บ๐ฒ๐ป๐. Lead time is the time it takes for an order to be received from the supplier. So it’s important to factor in lead time when ordering inventory.Don’t expect to find Read more…
Some Rules to Keep in Mind for Demand Planners (Contd.) 4. ๐๐ผ๐ป’๐ ๐ฝ๐๐ ๐ฎ๐น๐น ๐๐ผ๐๐ฟ ๐ฒ๐ด๐ด๐ ๐ถ๐ป ๐ผ๐ป๐ฒ ๐ฏ๐ฎ๐๐ธ๐ฒ๐ ๐๐ต๐ฒ๐ป ๐ถ๐ ๐ฐ๐ผ๐บ๐ฒ๐ ๐๐ผ ๐ฑ๐ฒ๐บ๐ฎ๐ป๐ฑ ๐ณ๐ผ๐ฟ๐ฒ๐ฐ๐ฎ๐๐๐ถ๐ป๐ด ๐บ๐ฒ๐๐ต๐ผ๐ฑ๐. It’s important to use a variety of methods to get the most accurate picture of demand.For example, don’t rely on your gut feeling or Read more…
Starting a Series of ’10 rules to keep in mind’ for Demand Planners.Here’s the first three. Some Rules to Keep in Mind for Demand Planners 1.๐๐ผ๐ป’๐ ๐๐ฟ๐๐๐ ๐๐ผ๐๐ฟ ๐ด๐๐ ๐๐ต๐ฒ๐ป ๐ถ๐ ๐ฐ๐ผ๐บ๐ฒ๐ ๐๐ผ ๐ฑ๐ฒ๐บ๐ฎ๐ป๐ฑ ๐ฝ๐น๐ฎ๐ป๐ป๐ถ๐ป๐ด, ๐๐ฟ๐๐๐ ๐๐ผ๐๐ฟ ๐ฑ๐ฎ๐๐ฎ! Because you think a certain product is going to be hot, doesn’t Read more…
3 Important rules for Demand planners Demand planners are like helpers for store owners.They make sure the store has the right amount of things for people to buy.But, they need to remember some important rules to do their job well. 1๏ธโฃ One rule is to ๐๐ผ๐ผ๐ธ ๐ฎ๐ ๐ฝ๐ฎ๐๐ ๐๐ฎ๐น๐ฒ๐.This means Read more…
Reg the confusion between Merchandise planning and Demand planning .๐๐ถ๐ณ๐ณ๐ฒ๐ฟ๐ฒ๐ป๐ฐ๐ฒ ๐ฏ๐ฒ๐๐๐ฒ๐ฒ๐ป ๐ ๐ฒ๐ฟ๐ฐ๐ต๐ฎ๐ป๐ฑ๐ถ๐๐ฒ ๐ฝ๐น๐ฎ๐ป๐ป๐ถ๐ป๐ด ๐ฎ๐ป๐ฑ ๐๐ฒ๐บ๐ฎ๐ป๐ฑ ๐ฃ๐น๐ฎ๐ป๐ป๐ถ๐ป๐ด โข Merchandise planning andโข Demand planningare both ways that store owners make sure they have the right things in their store for people to buy.But they are a bit different. ๐ ๐ฒ๐ฟ๐ฐ๐ต๐ฎ๐ป๐ฑ๐ถ๐๐ฒ ๐ฝ๐น๐ฎ๐ป๐ป๐ถ๐ป๐ด is like Read more…
๐๐ฉ๐ข๐ต ๐ช๐ด ๐๐ฆ๐ณ๐ค๐ฉ๐ข๐ฏ๐ฅ๐ช๐ด๐ฆ ๐๐ญ๐ข๐ฏ๐ฏ๐ช๐ฏ๐จ? Merchandise planning is like picking out the clothes you want to wear.Store owners want to make sure they have the right clothes in their store for people to buy.So, they plan by looking at different parts of the process. 1๏ธโฃ One part is ๐ฃ๐ฟ๐ผ๐ฑ๐๐ฐ๐ ๐๐๐๐ผ๐ฟ๐๐บ๐ฒ๐ป๐.This means Read more…
What are the key components of demand planning? ๐๐ฉ๐ข๐ต ๐ช๐ด ๐๐ฆ๐ฎ๐ข๐ฏ๐ฅ ๐ฑ๐ญ๐ข๐ฏ๐ฏ๐ช๐ฏ๐จ? Demand planning is like making a shopping list for a store.Store owners want to make sure they have enough of the things that people want to buy. So they plan ahead by looking at different parts of the Read more…