A logical inventory hierarchy streamlines the inventory management process. Image source Unless your business builds or sells just one SKU, you understand that inventory items are not all managed equally. High priced, long lead time items tend to be monitored closely while low value items might be managed by simply refilling kanban bins periodically. How […]
Inventory management is an important operational process for furniture retailers. Image source The scents of oak, pine, and leather found in a furniture store take us back to a simpler time, before computers and the internet became the backbone of the retail shopping industry. With raw materials and finished goods of all shapes and sizes, […]
Retailers can improve delivery times by balancing supply chain complexity with customer service. Image source If you are continually amazed by online retailers like Amazon who can offer one or two day delivery for nearly every available product, you are not alone. As top retailers master the art and science of logistics, the real secret […]
Sharing real-time data with customers and suppliers is becoming a necessity. Image source In the days before the internet, sharing data between companies was difficult at best. Surprisingly, the dawn of the digital age did little to change the status quo of siloed inventory management that had existed for decades. In recent years, part shortages, […]
Why customers and retailers are shifting their focus to the return process. Image source The first retail return probably occurred not long after the first retail sale, but the term “reverse logistics” was not coined until 1992, when Logistics Professor James Stock found a new way to describe the process of returning products back to […]
The complexity of today’s supply chains calls for advanced risk management tools. Image source Risk management has been utilized in the banking, healthcare, insurance, and construction industries for decades to proactively review and address threats. The fragility of today’s supply chains and the unending list of issues that can disrupt them have brought supply chain […]
