2018-4-26 One of the most prevalent inventory planning methods worldwide usually comes as the first choice after human forecasting becomes too complicated or too costly to manage. The method brings some structure into inventory management process and can be applied to specific sales patterns. But in terms of efficiency it is incapable to sustain optimal stock for a longer time and requires a lot of human [...]
- Why is the lost sale more than the sale you lose?
2018-4-18 Businesses need right product in the right place and at the right time. If there is no product in place when your customer comes to buy it, you lose an opportunity to sell. And you lose profit that otherwise could have been earned. But is it only that? A lost sale is one of the key indicators used to measure stock performance and evaluate the [...]
- Inventory management methods
2017-2-7 Forecast, calculate or simply guess? That’s the choice, that determines whether or not you will have anything to sell. Sometimes intuition helps; but can we always trust it? If not, you have to look for other ways how to properly evaluate demand, in order not to freeze the capital, and to keep the sales growing. So what are the choices? And how to make the [...]