The phrase “COVID has changed nothing but accelerated everything” has been used many times, across all aspects of life. It has been particularly apt with retail. Prolonged periods of lockdown have accelerated shifts to online channels in every product category. It...
Nobody said this year was going to be easy, but who would have forecast we’d be in this situation 6 months ago? Although COVID-19 first hit the news cycle in December, there was no mention of UK lockdown until at least early March. In fact, rather like Michael Fish...
Current market volatility and turbulent demand patterns call for some ‘padding’ in your inventory in order to satisfy unexpected spikes in demand or issues with supply. A fine balance needs to be struck though – too much excess stock ties up your working...
We’ve previously addressed some of the fundamental issues with employing an Excel-based system. The weaknesses of these models is currently being brought into particularly sharp relief by the volatility of demand levels and changing consumer behaviour. Here, we’re...
Demand planning and inventory management processes exist to help avoid: Unnecessarily high levels of inventory (overstocks) Costly inventory write-offs Excessive use of premium transportation services Missed commitments and poor service levels ERP systems track stock...
"More goods in the warehouse also means that more money is tied up in the warehouse, which could perhaps be used for other initiatives in the company...”
