Managing inventory requires executives to balance competing goals: high product availability versus low investment in inventory.
Beware of Simple Rules of Thumb for Managing Inventory
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). […]
Blanket OrdersOur customers are great teachers who have always helped us bridge the gap between textbook theory and practical application. A prime example happened over twenty years ago, when we were introduced to the phenomenon of intermittent demand, which is common among spare parts but rare among the finished goods managed by our original customers working in sales and marketing. This revelation soon led to our preeminent position as vendors of software for managing inventories of spare parts. Our latest bit of schooling concerns “blanket orders.” […]
Smart Posts
- Managing Inventory amid Regime ChangeDemand Planning, Intermittent Demand, Inventory OptimizationIf 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. […]
- Blanket OrdersDemand Planning, Intermittent Demand, Inventory OptimizationOur customers are great teachers who have always helped us bridge the gap between textbook theory and practical application. A prime example happened over twenty years ago, when we were introduced to the phenomenon of intermittent demand, which is common among spare parts but rare among the finished goods managed by our original customers working in sales and marketing. This revelation soon led to our preeminent position as vendors of software for managing inventories of spare parts. Our latest bit of schooling concerns “blanket orders.” […]
Coping with Surging Demand During the ReboundBlog, Demand PlanningMany of our customers that saw demand dry up during the pandemic are now seeing a significant demand surge. Other customers in critical industries like plastics, biotech, semiconductors and electronics saw demand surges starting as far back as last April. For suggestions about how to cope with these situations, please read on. […]