Optimising Inventory with Retail Procurement Strategy
Procurement is a huge part of retail marketing. This process includes sourcing, purchasing and managing the goods and services needed for retail operations. When it comes to retail marketing, procurement focuses on strategies. Such a retail procurement strategy depends on acquiring the right products and services to support the marketing campaign and drive business growth. […]
15 Ways to Improve Your Shipping Strategy
Enhancing your shipping strategy can streamline operations and boost customer satisfaction. Businesses can reduce costs and delivery time by optimising routes, leveraging technology, and negotiating rates. Implementing packaging efficiencies and offering flexible delivery options also enhances customer experiences. A robust strategy for shipping drives operational efficiency and strengthens your brand’s reputation in a competitive market. […]
How Average Revenue Per Unit Drives E-Commerce Success?
Every commerce business needs to pay attention to its performance metric. With it, they can see where they stand and what needs to be improved. This is crucial to gauge the overall financial health of the company. The company may track the SKUs measuring the cost per order and average order value. However, the essential […]
The Impact of 5G Technology Architecture on Supply Chain Management
In recent years, 5G technology has emerged as a game-changer, promising to revolutionize various sectors, including supply chain management (SCM). The supply chain, a complex web of activities and processes that move goods from producers to consumers, is increasingly reliant on digital technologies. With the advent of 5G, supply chains are poised for a transformation […]
9 Ways to Achieve On-Time Delivery and Enhanced Supply Efficiency
A high percentage of on-time delivery does not mean that your business is doing well in supply chain efficiency. It’s also important for a major role in customer retention. On-time delivery (OTD) is a crucial performance metric used for measuring if an organisation is meeting their delivery goals. A consistently high performance in OTD is […]
The Future of Freight Shipping: Trends to Watch in 2024
The freight shipping industry is experiencing rapid technological innovations, thanks to the complex nature of global supply systems. Businesses in the logistics sector need to anticipate trends to sustain their competitive advantage. There is increasing demand for freight capacity across land, air, and ocean. To mitigate the rising supply shortage and integration of IoT and […]
How to Navigate Upstream and Downstream Supply Chains
In the supply chain, the upstream part involves finding and providing raw materials like plastics, wood, and metals to manufacturers. Managing these upstream tasks efficiently is important for quick production. If there are delays or shortages in raw materials, it can lead to lower inventory and more market ups and downs. Access to affordable raw […]
Kitting and Assembly in Manufacturing: Unveiling the Benefits and Best Practices
Packaging and selling a single product at a time takes a lot of time. With kitting and assembly in inventory, personnel can take similar items and combine them to make a value-added kit. It involves gathering individual components or parts and combining them into ready-to-use kits or assembled products. In kitting, parts are grouped, packaged […]
How 3D Printing is Reshaping the Logistics Industry
3D printing has transformed the aerospace and automotive industries, helping companies design prototypes. While it was limited to specific sectors, 3D printing in logistics has caught the attention of business entrepreneurs. Components manufactured with 3D printing machines mimic the properties of manual systems. This helps companies cut production costs as they stop relying on outsourcing. […]
Role of Logistics in Procurement: Strategies for Efficient Supply Chain Sourcing
There is a strong connection between procurement in logistics and the quality of service a company provides, as every business relies on a steady supply of the resources needed for its operations. Procurement ensures a continuous flow of supplies, materials, and services, making effective stock management vital for its success. When planning the procurement of […]
Mastering Inventory Optimisation: A Guide to Split Inventory for Multi-Channel Retailing
Distributed or “split inventory optimisation refers to the practice of storing inventory and conducting fulfilment operations from various centres in different geographic locations. This is quite like setting up a Hub-and-Spoke Model for economic fulfilment rather than fulfilling the orders from a single location. Big companies like Walmart and Amazon have their fulfilment centres. Even […]
What is Sell-Through Rate?-Definition, Importance and Strategies
Calculating all the inventory you have sold in an entire month can be a challenge. For that you need STR. What is that you wonder,right? The sell-through rate (STR) as a metric measure the percentage of inventory you sell in a month compared to the ones you receive from the manufacturer. This STR is one […]
