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Monthly Archives

July 2013

Demand Forecasting Seasonal Horror Stories to DodgeWe enjoy watching horror movies, stock car races, and dodge ball here in the south for the same reason, the chance to watch something go wrong. Companies are watching the back to school sales for signs of our economy’s strength and leading indicators for holiday shopping; will something bad happen? This is a good time to review some epic inventory replenishment mistakes made by others in the past. I hope these horror stories help you learn better methods for managing inventory or at least make you say, hey at least we didn’t make that mistake in our demand forecasting and inventory replenishment.

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Do-You-Make-These-Mistakes-with-Slow-Demand-ProductsLead Time continues to be one of the most requested topics in our discussion groups, customer surveys, and blog research interviews.  There are several reasons that Lead Time is important: a significant portion of your inventory dollars are invested in lead time, it’s a critical component to Just in Time (JIT) inventory replenishment, and last, many consulting and logistics software companies tout how Lead Time is the Holy Grail to achieving inventory optimization. Don’t believe the last one, its smoke and mirrors.

Lead Time process improvements provided one retailer a $1 Million dollar gross profit gain from lost sales reductions!

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A little Demand Forecasting Mistake that Cost a Retailer 250,000

A little Demand forecasting mistake costs retailers and wholesalers significant profits each year. While the mistake seems small, in reality, over the course of one year, the total dollars in lost profits will be significant. How? Demand forecasting impacts your largest asset, your inventory. Also, Demand Forecasting is an integral part of many of your business processes, poor processes cost you money. While the mistake may sound old and obvious, in reality, most businesses do not account for these and this provides you an opportunity over your competition.

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