Planning teams focus on global trends. But, Local factors matter While global trends are essential,consider local factors like– cultural events,– holidays, and– regional preferences. These can impact demand and should be factored into your planning. #planning #local #demandmanagement https://lnkd.in/g6BVM7vJ Today, we’re going to learn about something cool called “Local factors”. Read more…
People believe more data is better. But, Fewer data can be more effective. Analyzing only the most relevant data can lead to more accurate responses. Focus on high-quality data sources and avoid data overload. https://lnkd.in/gXfWhrR6 Sometimes having less information can be better for making smart decisions. 🤔 It’s true! Let me Read more…
To apply the learning from the post in a retail context, you can consider the following: 1. Productive Capacity:Understanding the capacity of your store or distribution centre to handle– customers,– process transactions, and– manage inventory.By analyzing historical data,you can improve your– staffing levels,– store layout, and-operational processesto ensure efficient use Read more…
A retail company wants to put in place a new inventory management system.Why? To improve operational efficiency and reduce waste. 1️⃣ Committed Managers:Managers need to understand why improving inventory management is crucial for the business. They should recognize– the challenges and– time wasteddue to poor coordination of tasks and resources. Read more…
Do NOT confuse high stock with good availability. https://lnkd.in/gNf63r6u Relying on forecasts to measure supply chain efficiency leads to problems. Many organizations focus on delivering a specific number of inventory.This is based on a pre-defined plan.They call it an “efficient” supply chain if they can stick to the plan. But Read more…
In a store, the place where you pay for your things is very important.It should be fast and easy.But sometimes, people do other things that make it slow. For example, imagine if someone spends a lot of time organizing the things on the shelves instead of helping you pay quickly.It Read more…
Only PULL-based replenishments can also be reasons for sale loss. There are times when you need to stock higher than immediate consumption. https://lnkd.in/gJJMcjfb You NEED to build stock AHEAD for – Seasonal demand– Cyclic Demand– Demand to meet a known increase in sale Common criteria:1. Demand events are certain2. Supply Read more…
Each node optimising for itself does NOT mean that the entire chain will get the best results. In fact, the OPPOSITE is true. Local Optima DOES NOT mean a Global Optima. Learning to whom to subordinate is half the battle won. #learning #subordinate #lessismore https://lnkd.in/gdxShFM8 Buyers buy to optimise– purchasing Read more…
Do NOT confuse high stock with good availability. In reality: More inventory = Worse delivery on time Self-Inflicted Obsolete Stock: 1. Promotion items without telling the planner.Sale increases due to promotion.Planner orders more. By the time stock comes, promotions have ended and sales are low. 2. Order lots of New Read more…
Do NOT confuse high stock with good availability. In reality: More inventory = Worse delivery on time 🌟 Why Lots of Stock Doesn’t Mean Easy Availability ⚡️ While more stock seems to improve availability at the item level.Experience shows that businesses with the highest stock often have the worst overall Read more…