What do dishwashers, calculators, and chatbots have in common? All are automated solutions to problems that humans use to solve manually.
Have you ever tried to navigate the hallways of your home without turning the lights on? No matter how well you know the layout of your house, when you can’t see where you’re going, you may feel like you’re stumbling around, lost and confused.
How often have you heard someone in your industry say that they’ve considered automating parts of their inventory process, but they don’t trust a program to make the right call?
After all, human eyes will always be better than any demand planning software, right?
Human error is actually reported as a primary contributor to most accidents and disasters occurring across industries.
In other words, your next inventory-related disaster is far more likely to be caused by a human misreading a spreadsheet or miskeying a number than it is to be...
Would you like to hear a one-word horror story? Stockout.
Just hearing that word can make retailers shiver—and for good reason. Stockouts can cost your business hundreds of thousands of dollars every year. The good news? These struggles are preventable: Three-quarters of all stockouts are caused by inventory planning issues.
Imagine your business is an orchestra. Your sales, warehousing, suppliers, and more are all different instruments. Stockouts (and other inventory woes) happen when your departments play in different keys. Your business can only...
If your brand sells direct-to-consumer in 2022, you know how important it is to meet shipping deadlines.
With rising delivery demands and increasing postal delays, missing a shipping deadline means your consumers will receive their purchase late, resulting in poor reviews at best and demands for refunds at worst. Still, an estimated one-third of businesses regularly miss shipment deadlines. Why?
They’ve sold a product that wasn’t in stock. In other words: Poor inventory forecasting.
How often have you thought to yourself, I need more hours in the day? If your business is growing, I’m sure you’re thinking about this more and more frequently.
As your business scales, many processes—like inventory planning—become more challenging to manage manually. That’s where inventory replenishment software comes into play.
You could save eight hours a week or more if you didn’t have to spend so much time pouring over spreadsheets and dancing around overstock and stockout and worse… but the idea of selecting the right software to reliably...
How important is demand planning to the success of your business?
Most supply chain management professionals would probably say between ‘vital’ and ‘critical.’
Over half of retail supply chain executives report that demand forecasting is a significant area for investment and opportunity.
Sometimes, meeting these demands can feel like you’re a fortune-teller. It’s challenging to avoid stockouts and other inventory issues when customer needs are constantly in flux and
If we were to ask you exactly how many units of your fourth best-selling product you’ll have in each warehouse location today and how long that inventory will last, would you be able to answer with confidence?
It’s human nature to want to control outcomes and reduce risks.
In today’s market, it’s hard to find a multichannel retailer that hasn’t experienced the pains associated with at least one supply chain challenge.