RELEX was used to simulate the dynamic safety stock levels and their effects on inventory and service levels in MIT research.
Years ago, a store may have stocked between 7,000 and 8,000 over-the-counter SKUs. Today, retailers have to account for and optimize anywhere between 15,000 and 20,000 SKUs.
Many assume that a focus on quality leads to a higher level of waste. It doesn’t. In fact, waste and quality problems often share the same root cause.
Halloween has become a major opportunity for retailers to grow their business. In the US alone, the total spending for Halloween is expected to reach $9 billion this year.
Choosing a supply chain planning system isn’t easy. That’s why we’ve listed some things to consider if you’re going to transform your supply chain planning.
The biggest difference in automating replenishment of fresh products in comparison to center-store products is the increased importance of planning accuracy.
We surveyed leading North American grocers and compiled the key results in a study titled ‘Growing and Sustaining Competitive Advantage in Grocery Retail’.
A supply chain is always a work in progress. You can optimize it so it’s running as close to perfect as possible and then circumstances change.
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.
The wide State of the Retail Supply Chain study conducted in 2017 by Martec International indicates that, in many areas, UK and Irish retailers are ahead of their European counterparts.
When I first began working in a retail superstore as a teenager, corporate announced an initiative and new process for managing stock.
Making good assortment decisions in retail is all about getting things right consistently. That requires good planning and that in turn requires good data.
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.
Having an omni-channel inventory management system that gives an accurate picture of your supply chain, is no longer a ‘nice to have.’ It’s a basic.
There are few challenges in retail tougher than managing groceries; optimizing a broad inventory that includes fresh and short-shelf-life products is not easy.
Working in the field of inventory management and supply chain I guess one gets to be more appreciative, as a customer, when companies get things right and perhaps more disappointed when they don’t.
Over the years almost every single retail initiative has had forecasting and replenishment at its core.
Optimizing your replenishment isn’t just about keeping the right items in stock. It’s also about perfecting your buying.
Once you understand how much will be sold on each day, the next step is to guarantee that the demand can be fulfilled, and in case of any problems, what actions are needed to ensure smooth operations.
By analyzing the lessons and making informed tweaks to your processes, it’s possible to make a significant difference next year and every year to come.
The challenges of Christmas vary from sector to sector. Here’s the big secret: think of Christmas as a process, not an event.
Finally let’s look at how to manage the end of the season successfully. It’s easy, right?
Managing seasons is important for almost every retailer. In some sectors, such as fashion, it’s absolutely vital to a company’s profitability.
Getting pre-season allocation to your stores wrong can lead to lost sales or the likelihood of huge markdowns.
For many fashion retailers much of the work towards ensuring a successful season will have been done months before the collections go on the racks.
In this blog series we would like to share some season management ideas to help you make the optimal planning and allocation decisions.
The more delivery options you offer the more complex the supply chain becomes, and that complexity also has implications for the planning side of things.
With the rise of e-commerce many traditional retailers have established an online channel to complement their core businesses.
As almost every etailer and retailer with an online operations knows all too well, product returns are a costly headache that simply have to be taken care of.
Bringing product view or customer behaviour data from website into your supply chain planning and analytics tool can be very useful.
Traditional inventory management limits as to what you can sell, and what you can’t, no longer apply in e-commerce.
I’m often asked how online retail affects supply chain planning. Although the basic rules are the same, there are indeed a number of differences.
One of the most established assumptions in inventory management is that stock holding needs to rise steeply as you increase availability.
Three tips to achieve the best KPI-measured results through exception-based working.
The top post-season supply chain management tips to better manage future seasons and forecast demand more accurately.
In practice zero spoilage is rarely the best goal on perishables inventory management.
Many retail and wholesale businesses experience pressures with their warehouse space, at least before peaks. Manage your space scarcity effectively.
Halloween could be a major opportunity for retailers to build their business. In the USA it is now the second largest retail event after Christmas.