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
Smart Software to Present at Epicor Insights 2022Smart Software CEO will present at this year's Epicor Insights event in Nashville. If you plan to attend this year, please join us at booth #9 and #705, and learn more about Epicor Smart Inventory Planning and Optimization. […]
Smart Software and Arizona Public Service to Present at WERC 2022Smart Software CEO and APS Inventory Manager to present WERC 2022 Studio Session on implementing Smart IP&O in 90 Days and achieve significant savings by optimizing reorder points and order quantities for over 250,000 spare parts. […]