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Inventory Planning Blog
Your Choice to Change is Not So Easy, or is It?Read More
The vast majority of companies that maintain an inventory use spreadsheets and reports. Some companies have had their overburdened IT departments build them a custom solution. In the scheme of things, these choices may work for a time but after a while they become a barrier to successful inventory planning. So, do you stay with the manual burdensome current process or move to a better way to plan?Read More
Effective and efficient supply chain inventory planning teams are absolutely critical to meet the ever-increasing demands of customers. Teams are getting fired up to meet the company goals and deliver service excellence. There is a dizzying array of solutions and methods companies employ to manage their supply chain hoping to manage their unique challenges.Read More
2018 ended on a lot of stock market jitters over the trade war with China. The markets lost most, if not all, their gains and then some. The outlook for global economies and growth opportunities have also cooled. Brexit, the UK exit from the EU, is disrupting supply chains. Inventories are building and planning for them has become more erratic.Read More
The performance gap between customer experience leaders and runners-up is widening, with those on top being disproportionately rewarded. Gartner Inc. said organizations must ignore three myths in order to achieve a superior customer experience.Read More
Achieving a well-balanced, efficient inventory is no small task as supply chain complexity is ever increasing. How do you get there and how do you know when you have arrived? Understanding and using some basic financial and accounting methods along with an advanced inventory optimization solution will help get you there and keep you there.Read More
The fall of SAP Anywhere, an e-commerce front end that arrived in the U.S. in 2016 with some fanfare, may have raised questions about SAP's commitment to SMBs. However, with SAP boasting 60,000 Business One customers and with no plans to sunset Business ByDesign, the end of SAP Anywhere may help clarify the SAP SMB message.Read More
Today, it is of upmost importance that every business manager makes the most of what resources they have in place. If you can’t add headcount, you need to increase your productivity to compensate. And you need to do it fast. Want to do more inventory planning with the resources you have? Or maybe you need to move a person to another critical department but that would mean not being able to plan your entire inventory.Read More
Companies approach their inventory planning in many different ways - from seat of the pants guessing, to team collaboration, to spreadsheets that may invoke more team collaboration and manual changes, to forecasting software and some to advanced planning solutions.Read More
Advanced Inventory Planning – The Cloud – Omnichannel – Global Logistics
Changes are occurring at lightning speed for all of us today. Consumers and companies alike have to contend with minute-by-minute information and change. The Cloud – Advanced Inventory Planning – Omnichannel – Social Media and much more impact today’s businesses. The options dazzle the mind, do we stay the course or change a little or change a lot.
Cloud applications for business are becoming more plentiful. Solutions specifically built for the web are in great demand around the world. Companies are deciding to employ a cloud model to reduce capital and operational expenditure, reduce costs, increase business agility, and boost their ability to deliver IT on demand.
Cloud computing provides you with the flexibility you need for easy inventory planning. Cloud computing today has real meaning and positive impact for companies in a true global economy. The future is that more business applications for mobile computing will be available and virtual software appliances are being developed.
Companies approach their inventory planning in many different ways - from seat of the pants guessing, to team collaboration, to spreadsheets that may invoke more team collaboration and manual changes, to forecasting software and some to advanced planning solutions.
When it is all said and done most companies stay the course when it comes to inventory planning. There is fear to learning something new. Things can go wrong, lots of time to learn about new methods and ways of planning. Staying the course is felt to be safest route.
People are creatures of habit, which is one reason why spreadsheets and reports are reused from year to year. Unfortunately, after cutting and pasting information, the spreadsheet might not work the way it did before — formulas can be damaged, links can be broken, or cells can be overwritten. It is also a case of “you don’t know what you don’t know”. Meaning, people are unaware of the availability of easy to use affordable, automated inventory planning software.
One aspect that needs consideration is what are you competitors doing or likely to do. Are they staying the course or are they adopting new methods and technologies to improve their business performance?
Using custom reports and spreadsheets as the primary method in inventory planning is doing yourself, your company, and your customers a disservice. Using precious company resources to develop custom reports for inventory management is wasteful. Reports and spreadsheets are useful but not to manage your inventory. Instead, purchase a complete advanced inventory planning and optimization solution. It will reduce your planning time by up to 90% and dramatically improve your inventory mix while lowering costs.
The Cloud and advanced inventory planning is a winning combination. These combination of technologies allows you to work smarter by easily adapting all aspects of inventory management into one advanced, simple-to-use software product any time anywhere. The software lets all levels of employees understand and use the system. Instead of having one staff member dedicated to inventory planning, any employee can quickly learn and operate the software. Utilizing existing staff helps to keep costs low while expanding their capabilities.
Advanced inventory planning and optimization software not only automates the entire planning process, it dramatically increases the positive cash flow of a company. By smartly reducing inventory investment, reducing stock-outs, decreasing expedited shipping costs, and reducing planning time all contribute to more available cash. Add to that increased sales and productivity and the gains will also lead to an improved competitive advantage.
Anthony "Tony" Robbins is an American life coach, self-help author, and motivational speaker. He said, “Change happens when the pain of staying the same is greater than the pain of change.”
December 16, 2013 (United Kingdoom)
Slowly improving global economies have added some additional stress to sully chains. The risk of disruption is higher now than in the past. In these challenging times, it is important to balance short term resilience with longer term needs. You will hear a lot about reducing costs, buying less, increasing productivity, improving cash flow and more. It is important to keep these inventory objectives balanced and in perspective.