The efficiency of a business’s store replenishment operation has a major impact on profitability. Yet, it’s often overshadowed by higher profile activities such as buying, merchandising and marketing.
When I first began working in a retail superstore as a teenager, corporate announced an initiative and new process for managing stock.
I think we’d all agree, not everyone’s supply chain challenges are the same, but in retail they almost always have elements in common.
There are two major outcomes when it comes to stocking up for a season. Although you might have solved these, the root of the problem can still be apparent.
Over the years almost every single retail initiative has had forecasting and replenishment at its core.
Sometime it can seem as though your suppliers are going out of their way to making buying their stuff unnecessarily difficult.
One of the most established assumptions in inventory management is that stock holding needs to rise steeply as you increase availability.
Most valuable things in life need effort. This seems to be as true of supply chain development initiatives as of any other area of life.
We see that there is a potential for waste reduction comparable with the food consumption of the whole of Canada!
Three tips to achieve the best KPI-measured results through exception-based working.