2021 was plagued with shortages. As discussed in clients’ demand planning/ forecasting meetings, history is not representative of the future. In one example, the client experienced material shortages and couldn’t sell what customers requested, and so carrying that forecast into the New Year would deliberately carry that issue into 2022.
"The minority of clients that are proactive were using just-in-time principles, but in a way that works during the pandemic," said Lisa Anderson, President of the LMA Consulting Group. "As a decision-maker, I need to have a certain amount of safety stock, but I will replenish that as we take orders, and we'll replenish those reserves [...]
Clients are growing quickly. No matter the industry and company size, clients and colleagues are seeing growth. The only question is how quickly and whether they can keep up. Capacity constraints are popping up everywhere. On the logistics front, Southern California has no available space; the ports are backlogged, prices are rising [...]
Just-in-time might not be what it is cracked up to be! Certainly, the coronavirus impacts should give us reason to question this rule at face value. Are you running so tight that you only have one bin, pallet or small supermarket to keep your facility running? If so, the [...]
“Inventory accuracy is cornerstone to success” says Lisa Anderson, The Manufacturing ConnectorSM and president of LMA Consulting Group, Inc., Claremont, CA. 51 Expert Tips on Inventory Control Methods Inventory control is a critical function for businesses spanning every industry. Without effective inventory control methods, the supply chain suffers, you’re not [...]
Great inventory management techniques are critical as supply chain complexity grows. Here's a look at the top techniques to help your company succeed. Whether you're an SMB or a large enterprise, solid inventory management techniques are critical for success. Inventory management, a component of supply chain management (SCM), controls [...]
Inventory has emerged as a hot topic lately. In today’s Amazon-impacted business environment, customers expect rapid, customized deliveries, the ability to change their mind anytime and easy interactions.
Demand planning is critically important to inventory management success. Drive better inventory control, cash flow, and profitability
ore than 50% of client requests in the last several months have related to inventory. In fact, it seems to be a trending hot topic! In today's era of the Amazon Effect where customers expect more and have ZERO patience to wait yet we are in a volatile environment with tariffs and concerns about space, costs and more, more inventory is needed to grow the business yet businesses cannot afford it.
Since forecasting can deliver significant benefits with increased levels of service, inventory turnover and margin improvement, the question that inevitably arises is whether it makes sense to purchase a forecasting or demand planning system.
