Sales and Operations Planning (S&OP): Challenges and Solutions
The manufacturing industry is always changing and can get pretty complex, constantly evolving with new technologies and shifting market demands. That’s why making sure your production and supply match up with demand is key to success. Que the introduction of Sales and Operations Planning (S&OP). It’s a vital process that helps your entire organization work towards […]
Ensuring Data Quality With Proper Date Formatting
An Everyday Example of Date Formatting Take a moment to glance at the shopping receipts tucked away in your wallet, especially if you’re in Canada like me. Check the dates printed on them, and you’ll likely notice a variety of formats. Here’s a snapshot of what I found: – 03/06/2024 – 03/04/24 – 03/01/24 – […]
Inventory Management Continued: What Inventory KPIs Should You be Measuring?
Like most manufacturing companies, when it comes to inventory management, yours likely has several goals and benchmarks you’re striving to achieve. Looking at Key Performance Indicators (KPIs) is the best way for you to know whether your company is working towards meeting those goals or heading in the opposite direction. Before jumping into some of […]
Common Inventory Management Challenges and How to Solve Them
In Measuring and Managing Inventory: Everything You Need to Know we looked at why inventory is a vital part of any business in the supply chain industry. With this, we also looked at the definition and importance of inventory management – the process of overseeing and controlling the flow of goods, materials, and products within […]
Measuring and Managing Inventory: Everything you Need to Know
Inventory Management is a crucial component of any company or business. The quality and speed at which customers can obtain product is often a driving factor when deciding who to place an order with. So, imagine how detrimental it would be if your company wasn’t in the know of what you had in stock, the […]
The Importance of Inventory Management: Why is Inventory Management Essential for Managers?
Why should you care about managing your inventory efficiently? Inventory management may just be one component of your supply chain, but the effects of it, positive or negative, impact your business as a whole. As discussed in Measuring and Managing Inventory: Everything You Need to Know, inventory management is the process of overseeing and controlling […]