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. ๐๐ฅ๐ข๐ ๐ง ๐๐จ๐๐ฅ๐ฌ: 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. ๐๐ฆ๐ฉ๐จ๐ซ๐ญ๐๐ง๐๐ ๐จ๐ ๐ ๐๐ฅ๐๐๐ซ ๐๐จ๐๐ ๐๐๐ฉ When people go on a trip ๐ , 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…
โTell me how you measure me, and I will tell you how I will behaveโ 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.ย 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…
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…
Any tool is only as good as the process it automates.Automating wrong processes will give you wrong outcomes.Test your process / fit before you scale up. ๐ง๐ต๐ฒ ๐๐ถ๐ด๐ด๐ฒ๐๐ ๐๐ต๐ฎ๐ป๐ด๐ฒ ๐ถ๐ป ๐ฆ๐๐ฝ๐ฝ๐น๐ ๐๐ต๐ฎ๐ถ๐ป ๐๐ฎ๐ ๐ก๐ผ๐๐ต๐ถ๐ป๐ด ๐๐ผ ๐๐ผ ๐๐ถ๐๐ต ๐ง๐ผ๐ผ๐น๐ Forget about fancy tools and shiny new gadgets – the biggest change Read more…
Demand shaping aims to smooth out peak demand, whileDemand shifting redirects demand to different products. – Demand shaping involves adjusting the timing of sales to reduce peak demand, for example, offering discounts during off-peak hours. – Demand shifting involves changing the product mix to appeal to different customer segments, for Read more…