Inventory and Demand Forecasting: Guest Posts

Data Driven Planning, Demand forecasting and inventory optimization

Inventory Planning Becomes More Interesting

Inventory Planning Becomes More Interesting

Just-In-Time (JIT) ensures that a manufacturer produces only the necessary amount, and many companies ignore the risks inherent in reducing inventories. Combined with increased globalization and new risks of supply interruption, stock-outs have abounded. So how can you execute a real-world plan for JIT inventory amidst all this risk and uncertainty? The foundation of your response is your corporate data. Uncertainty has two sources: supply and demand. You need the facts for both.

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Backing into Safety Stock is the Safe Play

Backing into Safety Stock is the Safe Play

Safety stock is a critical component in any system of inventory management. Indeed, some inventory software treats safety stock as the key decision variable in the quest to balance inventory cost against item availability. Unfortunately, that approach is not the best way to strike the balance.

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Recent Posts

  • Probabilistic Deterministic Order Planning SoftwareProbabilistic vs. Deterministic Order Planning
    Consider the problem of replenishing inventory. To be specific, suppose the inventory item in question is a spare part. Both you and your supplier will want some sense of how much you will be ordering and when. And your ERP system may be insisting that you let it in on the secret too. […]
  • Epicor Insights 2021Smart Software to Present at Epicor Insights 2021
    Smart Software President and CEO to present Insights 2021 Breakout Session on Creating Competitive Advantage with Smart Inventory Planning and Optimization. Empower planning teams to reduce inventory, improve service levels, and increase operational efficiency. […]