13 Strategies and Trends to Deal with Demand Volatility
Demand volatility can be a major challenge for businesses. It can lead to overstocking, understocking, and lost sales. But what is it? This phenomenon refers to the degree to which the customer demand for a product or service can vary over some time. This could be the timing of the demand or how unpredictable and […]
EPM Vs BI: The Better Tool for Inventory Planning and Control
Enterprise Performance Management (EPM) and Business Intelligence (BI) are key tools supporting inventory planning and control. Typically, BI deals with data analysis, reporting, and historical trends to inform decision-making. On the other hand, EPM is more strategic, aligning operational performance with business objectives and providing forecasting and budgeting insights. Choosing the right tool depends on […]
Mastering Delivery Management Systems for Streamlined Operations
Fleet management or delivery management system refers to the process where companies oversee the transportation of finished goods from one location to the next. Ecommerce businesses need to optimise their last-mile delivery for shipping customer orders to ensure they arrive on time and undamaged. Since online shoppers expect their parcels to reach undamaged, it’s necessary […]
Zone Skipping Strategies: Achieving Faster Deliveries and Lower Costs
ECommerce is surging forward, reshaping the way we shop. With shoppers expecting faster deliveries, supply chains are under pressure to keep up. Did you know that 58% of consumers would stop buying from a brand after just 1-3 shipping delays? Yes it’s true! For retailers grappling with high shipping costs and delivery timelines, there’s one […]
Warehouse Waste Management: 9 Waste Types and Tips to Remove Them
Running a warehouse is no mean feat. You need to ensure your business is connected to different channels, which requires an organized system of storage, tracking, and warehouse waste management. By increasing value and reducing the time required to perform tasks, companies transform their business operations. Disposing waste and recycling materials is crucial to keep […]
Consolidation Warehouse: Role, Pros, Cons, and Features
Imagine, you’ve just parked in your driveway after a grocery run. Now comes the decision: Do you bring your bags in one by one or attempt to carry them all at once to save yourself multiple trips? If you’re leaning toward carrying them all at once, you’ve already grasped the core concept of consolidation warehousing. […]
How to Implement a Transportation Management System?
Integrating a transportation management system can be challenging. Developing a unified software solution to manage delivery routes demands both time and resources. Software systems often operate across different platforms, devices, and browsers, making it difficult to eliminate manual tracking. However, this guide will walk you through the process of installing TMS into your operating system. […]
Mastering Inventory Accounting: Essential Concepts and Valuation Methods
Inventory accounting, or valuation, is the foundation of good financial management control in business. It involves recording and valuing all company-owned assets at the end of each period to ensure accurate financial statements and robust inventory control. This process consists of recording the purchase of inventories, their use, and what is left, and putting a […]
How to Identify Inventory Discrepancy and 5 Tips to Fix It?
Inventory discrepancy refers to the situation when there is a mismatch between the recorded inventory records and the number of items in your inventory. It usually occurs due to data entry, theft, misplacement, or damage. Even though such discrepancies are common, they can negatively affect profit. That’s why it’s important to have a system that […]
Calculating WIP Inventory: Formula and Step-By-Step Guide for Manufacturers
Manufacturing involves combining various raw materials to make the final product. WIP inventory allows businesses to track manufacturing assets and liabilities during a specific accounting period. It monitors production costs to gather performance insights. The cost of manufacturing is essential to streamlining inventory accounting. This article, will delve into the formula for calculating inventory and […]
Mastering Seasonal Demand in Retail: 7 Strategies for Success
The trends of customers’ buying habits changing depending on the time of year is known as seasonal demand. This may be related to the changes in season (e.g., there is a higher demand for wool clothes during winter versus a higher demand for sunglasses during summer) or to holidays like Christmas or Diwali. Fortunately, these […]
The Ultimate Guide to Commercial Shipping
The growing demand for goods in global markets has driven retail and wholesale organizations to embrace eCommerce channels. This shift has spurred a significant need for distribution centers and streamlined supply chain operations. Commercial shipping plays a pivotal role in this ecosystem. According to Statista, the Indian logistics market was valued at USD 250 billion […]
