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 below
Snippets 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.𝗗𝗼𝗻’𝘁 𝘁𝗿𝘂𝘀𝘁 𝘆𝗼𝘂𝗿 𝗴𝘂𝘁 𝘄𝗵𝗲𝗻 𝗶𝘁 𝗰𝗼𝗺𝗲𝘀 𝘁𝗼 𝗱𝗲𝗺𝗮𝗻𝗱 𝗽𝗹𝗮𝗻𝗻𝗶𝗻𝗴, 𝘁𝗿𝘂𝘀𝘁 𝘆𝗼𝘂𝗿 𝗱𝗮𝘁𝗮! 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) 
𝗗𝗼𝗻’𝘁 𝗼𝘃𝗲𝗿𝗹𝗼𝗼𝗸 𝗹𝗲𝗮𝗱 𝘁𝗶𝗺𝗲 𝘄𝗵𝗲𝗻 𝗶𝘁 𝗰𝗼𝗺𝗲𝘀 𝘁𝗼 𝗶𝗻𝘃𝗲𝗻𝘁𝗼𝗿𝘆 𝗺𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁. 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. 𝗗𝗼𝗻’𝘁 𝗽𝘂𝘁 𝗮𝗹𝗹 𝘆𝗼𝘂𝗿 𝗲𝗴𝗴𝘀 𝗶𝗻 𝗼𝗻𝗲 𝗯𝗮𝘀𝗸𝗲𝘁 𝘄𝗵𝗲𝗻 𝗶𝘁 𝗰𝗼𝗺𝗲𝘀 𝘁𝗼 𝗱𝗲𝗺𝗮𝗻𝗱 𝗳𝗼𝗿𝗲𝗰𝗮𝘀𝘁𝗶𝗻𝗴 𝗺𝗲𝘁𝗵𝗼𝗱𝘀. 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.𝗗𝗼𝗻’𝘁 𝘁𝗿𝘂𝘀𝘁 𝘆𝗼𝘂𝗿 𝗴𝘂𝘁 𝘄𝗵𝗲𝗻 𝗶𝘁 𝗰𝗼𝗺𝗲𝘀 𝘁𝗼 𝗱𝗲𝗺𝗮𝗻𝗱 𝗽𝗹𝗮𝗻𝗻𝗶𝗻𝗴, 𝘁𝗿𝘂𝘀𝘁 𝘆𝗼𝘂𝗿 𝗱𝗮𝘁𝗮! 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. 
One rule is to 𝗟𝗼𝗼𝗸 𝗮𝘁 𝗽𝗮𝘀𝘁 𝘀𝗮𝗹𝗲𝘀.This means Read more…
Reg the confusion between Merchandise planning and Demand planning .𝗗𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝗰𝗲 𝗯𝗲𝘁𝘄𝗲𝗲𝗻 𝗠𝗲𝗿𝗰𝗵𝗮𝗻𝗱𝗶𝘀𝗲 𝗽𝗹𝗮𝗻𝗻𝗶𝗻𝗴 𝗮𝗻𝗱 𝗗𝗲𝗺𝗮𝗻𝗱 𝗣𝗹𝗮𝗻𝗻𝗶𝗻𝗴 • Merchandise planning and• 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. 𝗠𝗲𝗿𝗰𝗵𝗮𝗻𝗱𝗶𝘀𝗲 𝗽𝗹𝗮𝗻𝗻𝗶𝗻𝗴 is like Read more…
𝘞𝘩𝘢𝘵 𝘪𝘴 𝘔𝘦𝘳𝘤𝘩𝘢𝘯𝘥𝘪𝘴𝘦 𝘗𝘭𝘢𝘯𝘯𝘪𝘯𝘨? 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. One part is 𝗣𝗿𝗼𝗱𝘂𝗰𝘁 𝗔𝘀𝘀𝗼𝗿𝘁𝗺𝗲𝗻𝘁.This means Read more…
What are the key components of demand planning? 𝘞𝘩𝘢𝘵 𝘪𝘴 𝘋𝘦𝘮𝘢𝘯𝘥 𝘱𝘭𝘢𝘯𝘯𝘪𝘯𝘨? 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…