Below are our top four demand planning best practices which will not only mitigate biases and heuristics (mental shortcuts that allows people to solve problems and make judgments quickly and efficiently), but improve overall planning performance. 1. ๐๐จ๐งโ๐ญ ๐ฎ๐ฌ๐ ๐ฐ๐ก๐๐ญ ๐ฒ๐จ๐ฎ ๐๐จ๐งโ๐ญ ๐ฆ๐๐๐ฌ๐ฎ๐ซ๐. It is never good enough to assume Read more…
Ans: Demand Planning The biggest cost to companies is NOT the cost of employees, or raw material, or sales or even advertising.The biggest cost to companies is the imbalance between the demand for their products and the companies ability to meet the demand. Unfortunately, many companies tend to ignore this Read more…
With the rapid pace of change in today’s retail industry, it is often easy to forget about the importance of getting the basics right. Inventory and how it is managed is a fact of every retailer’s life and the common denominator of all retail businesses. Yet despite the lack of Read more…
More sales don’t always translate to more profit for the company.One sure shot way of ensuring a healthy jump in profitability is by ensuring right inventory management practise. Knowing what’s in your inventory and how to control it is good for everyone’s business.If you are a supplier, retailers want you Read more…
The definition may help you choose the right questions next time you ask a prospective candidate. Or it may help you understand which attribute you can make even stronger. Good inventory manager means being a good planner, coordinator and controller. All rolled into 1!
One of the keys to achieving agile response to fast-changing markets lies upstream of the organisation in the quality of supplier relationships.Many companies have not recognised that competitive advantage that can be derived from closer relationships with key suppliers. Instead there is often an arms- length, even adversarial approach to Read more…
There are actually 2 decoupling points in any supply chain 1. โMaterialโ decoupling point: Strategic inventory is held in as generic a form as possible. This point ideally should lie as far downstream in the supply chain and as close to the final market place as possible. 2. โInformationโ decoupling Read more…
Today, many consumer goods companies have been forced to accommodate smaller markets, as these niches often provide the only path to growth and escape from heavy price competition. However newly launched products suffer from notoriously high failure rates! Surprisingly new products fail not because of technical shortcomings but because they Read more…
“When the company is not limited to a collocated workspace the idea of who can be part of the workforce expands.“ When we are faced with challenges, we sometimes come up with new ways of working. These new ways also give us excellent results. Problem is that when the challenge Read more…
Shortages of computer chips, medical gear and more have the US grappling for solutions. Post pandemic, even companies are wrestling new challenges. How do we ensure that we are effectively dealing with the post Covid challenges as a company or as a country? We need to necessarily look at 3 Read more…