New Product Introduction is a complete science in itself.We need to learn from every new introduction what worked and what did not. Only then can we be on the path of ongoing improvement? When a company comes out with a new product, it’s not always a sure thing that it’s Read more…
When trying to make decisions based on customer demand, it’s always a good idea to start with sales data. There are a lot of different types of information that companies use to figure out what customers want. This could be things like– orders, – shipments, – data from other companies, or – what Read more…
3 Stumbling blocks and what to do about themTackle these 3 stumbling blocks to get better planning: 1. ππ₯π’π π§ ππ¨ππ₯π¬: Different groups in a company want different things. This makes it hard for them to work together and make plans. To fix this, we need to make sure everyone is working towards Read more…
If you can correctly answer only 3 questions, you have a clear road map.Read this post to find what are the 3 questions. ππ¦π©π¨π«πππ§ππ π¨π π ππ₯πππ« ππ¨ππ πππ© When people go on a trip π , they need a map to know where they’re going and how to get Read more…
A company’s planning team identified that customers were becoming increasingly interested in sustainable products, and they began to shift their product line towards more environmentally friendly materials and manufacturing processes. They also began to highlight the environmental impact of their products and emphasise the company’s commitment to sustainability. This focus Read more…
βTell me how you measure me, and I will tell you how I will behaveβ The way we measure functions can have some unintended consequences. Conflicts between sales and planning teams can occur due to different goals and objectives.These conflicts can lead to issues such as not having enough well-selling Read more…
“The rational stories that the brain creates to justify these emotions can prevent us from taking action.Β And limit our potential.” Anger and Fear give you bad advice.Don’t follow it. Our thoughts start with an emotion. Our brain then creates a story or perceived-fact pattern that explains our feelings. This leads to confirmation Read more…
“93% of people in charge of supply chains want to make decisions and act on them quickly.Only 7% are making decisions and acting on them right away.” Many companies are not giving enough attention to supply chain management.However, some companies are doing very well in supply chain management.These successful companies Read more…
To be or Not to Be. What is a necessary part of most businesses and also the major cause of business failure? Inventory management Inventory can be difficult to predict and manage. Demand for products can fluctuate, and it can be challenging to forecast future demand. Additionally, issues such as – theft, – Read more…
Check your assumptions Most in retail believe:More options mean more sales. They are wrong. Having too much inventory can be detrimental to a business. Excess inventory ties up capital that could be used in other areas of the business. It can also lead to storage and handling costs. Excess inventory can Read more…