In a recent post at SupplyChainBrain, Robert Bowman takes a look at excellence in demand planning. Focusing on admirable qualities and techniques, it should be an interesting read for any demand planner seeking to improve his or her craft.
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Call an Audible to Proactively Counter Supply Chain Noise
You know the situation: You work out the best way to manage each inventory item by computing the proper reorder points and replenishment targets, then average demand increases or decreases, or demand volatility changes, or suppliers’ lead times change, or your own costs change.
Four Ways to Optimize Inventory
Inventory optimization has become an even higher priority in recent months for many of our customers. Some are finding their products in vastly greater demand; more have the opposite problem. In either case, events like the Covid19 pandemic are forcing a reexamination of standard operating conditions, such as choices of reorder points and order quantities.
Top 3 Most Common Inventory Control Policies
To make the right decision, you’ll need to know how demand forecasting supports inventory management, choice of which policy to use, and calculation of the inputs that drive these policies.The process of ordering replenishment stock is sufficiently expensive and cumbersome that you also want to minimize the number of purchase orders you must generate.
Recent Posts
Managing Inventory amid Regime ChangeIf you hear the phrase “regime change” on the news, you immediately think of some fraught geopolitical event. Statisticians use the phrase differently, in a way that has high relevance for demand planning and inventory optimization. This blog is about “regime change” in the statistical sense, meaning a major change in the character of the demand for an inventory item. […]
Smart Software Launches Smart Inventory Optimization and Demand Planning for Prophet 21Smart Software, a leader in enterprise demand forecasting, and inventory optimization solutions announces the release of Smart Inventory Planning and Optimization for Prophet 21 (P21). […]