Even in normal times, good inventory hygiene suggests that you continuously update your inventory control parameters: reorder points, order quantities, safety stocks, mins, maxes, lead times. Beyond that, you should be updating your inventory strategies, such as adjusting the target service levels or fill rates for every item you hold. That’s the “should.”
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In this blog, we review 10 specific questions you can ask to uncover what’s really happening at your company. We detail the typical answers provided when a forecasting/inventory planning policy doesn’t really exist, explain how to interpret these answers, and offer some clear advice on what to do about it.
Setting a target service level or fill rate is a strategic decision about inventory risk management. Choosing service levels can be difficult. Relevant factors include current service levels, replenishment lead times, cost constraints, the pain inflicted by shortages on you and your customers, and your competitive position. Target setting is often best approached as a collaboration among operations, sales and finance. Inventory optimization software is an essential tool in the process.
The supply chain management sector is facing numerous skilled labor shortages due to the ever-increasing demands of the pandemic. Meeting these challenges isn’t a viable option for businesses that are afraid of making changes.
The true indicator of the full potential of Snowflake is its 240% growth rate for contracted future commitments from customers.
Looking at ways to improve cloud security remains a top priority for businesses. IBM Security recently announced a plan to use Amazon Web Services (AWS) to enhance cloud infrastructure security for hybrid environments.
On the Cloud Wars Live podcast, Tony Uphoff and I discuss how new technologies in AI and Machine Learning are changing business processes.
Inventory management is not a squishy area where success can be described in vague language. Success here is a numbers game. There a number of key performance indicators (KPI’s) available to you, including Service Level, Fill Rate, Inventory Turns, Inventory Investment, and Inventory Operating Cost. Companies differ in the importance they assign to each metric such, but you can’t win without using some or all of these to keep score.
For cloud vendors, the battle for supremacy in industry-specific clouds will be the most intense due to the massive future revenue potential.
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.
Gorilla Glue implements FASCOR WMS to streamline their processes to allow focus on their business strategy and growth
This blog describes how to gain the benefits of inventory optimization by outlining 4 approaches with varying degrees of automation.
Ventajas de Power BI 2020
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Manufacturers can have a clear view of business operations and equipment performance by analyzing data. Data analysis allows these organizations to operate more efficiently, as AI software can use this information to improve decision making.
The day we thought would never arrive —the end of 2020!!— is here and I’d like to share my choices for the Top 10 Cloud Wars stories of 2020.
Dealing with various concerns related to the pandemic and the importance of maintaining food supply chains has caused many companies in these industries to focus on investing in automation technology and artificial intelligence. Many of these businesses were already investing in this technology, but COVID-19 has accelerated the process.
Microsoft Power Apps is a great option for businesses, as it’s a Low-Code Application Platform (LCAP) that makes it easy for professional and amateur developers to create apps. The average cost of developing an application is 74% less with Power Apps, as it’s an excellent way to save yourself a lot of time and money.
Users with various technical expertise levels can develop apps to focus on specific business functions, whether it’s related to IT, sales, finance, customer management, HR, etc.
Even measured against the fun-house-mirror distortions that 2020 imposed on us all, Salesforce CEO Marc Benioff had a singular year.
Offering a sneak preview of the rapidly intensifying competition between two of the world’s top software companies, Microsoft executive VP Judson Althoff said recently that CRM without chat is “arcane” and that Teams is years ahead of Slack.
Oracle and its fast-growing IaaS business face a very different challenge, as chairman Larry Ellison says demand is far outstripping supply.