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When to Use Hard and Soft Allocation
Managing inventory across a company’s stores, warehouses, and distribution centers can be challenging. Manufacturers and suppliers frequently use either hard or soft inventory allocation to track stock and maintain optimal inventory levels. Using the right inventory allocation method is vital for ensuring the correct amount of inventory reaches its intended destination on time and streamlining…
Read More5 Best Practices for Inventory Allocation
For businesses at any point along the supply chain, rising orders are a welcome development. Yet expansion into new markets and channels brings challenges, especially in inventory management. Tracking products across a supply chain’s stores and distribution centers often becomes a headache as supply chains go global, requiring inventory visibility and control. One solution for…
Read MoreHow to Improve the Performance of Your Suppliers
The global economy is highly interconnected, and the actions of customers, manufacturers, suppliers, and retailers all impact other players in the supply chain. Smooth coordination between partners like distributors, retailers, and suppliers enables sellers to maintain a competitive edge, retain customers, and maximize operational efficiency. Yet sometimes you may find your suppliers are underperforming. Inefficiencies…
Read More5 Ways to Prepare Your Supply Chain for a Recession
When a recession hits, many companies respond by increasing prices, discontinuing products, or taking other drastic measures to protect their profit margins. Yet focusing on your company’s priorities and strategizing for the long term are equally important, as some cost control measures can drive away loyal customers, impact supplier relationships, and affect the scalability of…
Read MoreMigrating from Microsoft AX or NAV Enables Users to Explore New Cloud-Based Solutions
If you are a Microsoft user, you may have heard Microsoft recently made a few important product support announcements pertaining to Microsoft Dynamics AX and NAV. As of January 10, 2023, all versions of Microsoft Dynamics AX have moved out of Mainstream Support. Additionally, Dynamics NAV 2013 and 2013 R2 have also reached the end…
Read MoreInventory Forecasting: How Automation Can Improve Your Forecasting for Better and Cheaper Inventory Management
A company’s ability to forecast demand, plan for fulfillment, and adapt to supply chain disruptions is critical to its success. Poor inventory management can lead to overstocking and understocking and disappointed customers. As supply chains evolve with customer demands and expand globally, antiquated and manual inventory forecasting methods can’t keep up with business needs. Many…
Read MoreWhy Supplier Management Matters for Grocery Growth
Food has always been essential, but as the number of people buying groceries online skyrockets, grocery stores have become pivotal in helping the American public to stay healthy and nourished at home. The exponentially increased demand for household items, food staples, and care products has required the grocery industry to reevaluate and revamp every part…
Read MoreHow Will Digital Transformation in Supply Chain Improve the Customer Journey?
Countless organizations spanning multiple industries have adopted digital transformation. From marketing to sales to customer experience, each department has developed and implemented its own version of digitization. The supply chain industry is no different, having been pushed by the pandemic and omnichannel buying behaviors to accelerate digitization plans. According to a Gartner estimate, 50% of…
Read MoreTips for Improving Your Supplier Relationships
Building long-term, strategic relationships with suppliers should be a goal for every retailer. Improving supplier relationship management (SRM) brings benefits that help you deliver high-quality products and services to your customers. These supplier management tips will help your company as it strategizes for more effective supplier relationship management. New to supplier relationship management? Read our…
Read MoreThe Importance of Supplier Relationship Management (SRM)
The actions taken by suppliers and other trading partners are one of retailers’ most common supply chain blind spots. A supplier’s decisions create a ripple effect throughout the supply chain, making supplier relationship management (SRM) vital for maximizing the partnership’s value. Supplier management is the process of interacting with the third-party vendors that supply your…
Read MoreBuilding a Responsive Supply Chain
In an industry where customer demands are always evolving, supply chains need to evolve with them. A responsive supply chain can help you meet changing requirements through flexibility and accuracy. Optimizing your supply chain can improve eCommerce offerings, profitability, and reputation. Let’s take a look at how to build a responsive supply chain. What Is…
Read MoreBenchmarking Your Supply Chain With EDI Integration
As a supplier in an increasingly complex digital market, benchmarking your supply chain can provide the insights you need to win. Supply chain benchmarking is a way of identifying the best possible performance to strive for. This might be done after your company has developed best practices but needs a refresher or as a means…
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