As We Move Out of COVID, 8 Ways To Ensure Your Supply Chain & Forecasting Programs Are Protected
The COVID-19 pandemic challenged many assumptions we had about how businesses should operate. As employees were forced into their homes to reduce the spread of the virus, companies had to find new and innovative ways to allow their employees to continue working or risk going out of business. One of the biggest challenges came as […]
Navigating Supply Chain Issues and Increased Lead Times Due to Shipping Constraints
Over the past year, inventory-based businesses have faced a tsunami of supply chain frictions, forcing virtually every company to scramble, strategize, and worry. Back-of-mind topics like repatriation, supply chain diversity, and supply chain autarky suddenly became pressing, topics. And the entire world faced a convergence of shipping woes — fueled by globalized connections, unparalleled levels […]
How StockIQ Provides Pitch-Perfect Inventory Accuracy for Stock Forecasting
Inventory frictions plague the modern goods space, creating frustrated customers, abandoned shopping carts, and billions of dollars in damages. But for 3PLs and distributors, inventory frictions aren’t just minor headaches; they’re torrential storms that minimize profits, destroy relationships, and degrade business growth. To be clear, inventory control is the heart of your entire operation. Over […]
How To: Distributors and Omnichannel Forecasting
Despite the seemingly never-ending swarm of digital solutions at our fingertips, inventory management is an increasingly challenging enigma. The unique convergence of customer demands, fulfillment speeds, and omnichannel shopping gateways has put immense pressure on distributors. How do you predict and react to demand-side inventory in an environment where 30 percent of items purchased online […]
Inventory Forecasting Within Microsoft D365 and Business Central
Inventory control is the table stakes of supply chain management for 3PLs and distributors. At the end of the day, despite whatever pressures or short-term challenges are weighing on your supply chain, predicting inventory demand and managing inventory loss is your single most important responsibility. Here’s the problem: historical accuracy rates for inventory management stand […]
Predictive Analytics vs. Predictive Forecasting
Both predictive analytics and predictive forecasting can be critical tools to use in your supply chain enterprise. Gaining an understanding of what they each are and when to use them can help improve your profit margins. With one tool, you get a look at the history of the items in your database, and with the […]
Automotive Supply Chain Management & Best Practices
Over the past few years, the automotive industry has undergone significant changes in the wake of globalization and modernization. Consumer expectations are at an all-time-high, competitive and manufacturing power is shifting radically, and the way we think about cars, technology, and OEMs has completely transformed the way we understand parts, inventory, and supply-side manufacturing. Automobile […]
Predictive Analytics in the Food & Beverage Space
Using predictive analysis in the food and beverage industry is critical for growth, as it helps your enterprise ensure you have the right amount of food and beverage in stock. If you do not have enough, you run the risk of angry customers not being able to procure the products they want, but if you have too much inventory, you run the risk of wasting money and having to dispose of inventory. Not only that, but this type of analysis can also help you set the right price for your items and monitor trends in the industry.
Understanding Forecastability Analysis: How Does It Benefit Your Business?
How do you determine whether the forecasting approach you’re using is the right one for your business? Which is the appropriate product hierarchy level to begin forecasting? Which products demand the most significant attention and focus? Forecastability analysis has the answers to all these questions. Every forecaster understands that there isn’t any standard approach or […]
Predictive Forecasting Predictions for 2021
2020 felt like a convergence of black swan events. From COVID-19 and the intense pressures of election night to the ever-growing regulatory ecosystem, navigating the competitive landscape this year has been treacherous. But, like all chaotic years, the real challenges aren’t happening today; they’re lurking on the horizon. How will all of these events impact […]
