Many organizations underestimate the significant value of analyzing their inventory stocking strategy on overall supply chain operations. It is difficult to zero in on a stocking strategy because much of the attention is drawn to the critical items that are in immediate demand and inevitably not available on the shelf thus impacting critical production or…
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Recently, I overheard my daughter’s soccer coach instructing the team on when to use certain tactical skills to move the ball upfield. He used two different scenarios to make his point. The first scenario entailed having the ball on the run in the open field and going up against one defender. The second scenario was…
Read MoreA recent white paper, “Seven Methods That Improve Forecast Accuracy,” suggests that a range of forecasting methods helps companies achieve better results. It cites Gartner, arguing, “companies that excel at demand forecasting average 15% less inventory, 17% stronger perfect order fulfillment, 35% shorter cash-to-cash cycle times, and one-tenth as many stock-outs as their peers.” While forecast…
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