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Demand Forecasting Slow Moving Products – 7 Dos and Don’ts

Wonder What Happens Next in this Slow Moving Scene?

I call them “heartbeat” products. Every Retailer and Manufacturer has them. The slow or niche products that don’t sell every day but are still vital to your business. If you charted their sales history, it would look like a heart monitor, up one week, down the next, up and down, up and down. No gentle seasonal curves here, just jagged peaks and deep valleys. You never know week to week if you are going to sell none or a hundred. Often expensive, well-managed heartbeat products can be valuable sales drivers. Poorly managed heartbeat products can eat up your profits and burn holes in your open to buy. So how do you maximize sales and lower your inventory on these slow movers?
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The Unseen Biggest Dangers of Lost Sales

Lost Sales are just a KPI, Right?!?

Lost sales are a perpetual worry for all retailers. If your shelves are empty, customers go home empty-handed, and you won’t make your sales plan. Most replenishment systems and demand forecasting systems offer a lost sales calculation to help retailers manage this key business problem. But is your lost sales calculation actually helping you as much as you thought? Are you still watching sales slip through your fingers and wondering why?
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Stop! 3 Essential Inventory Optimization Elements to Add that Increase Profits

Is Your Inventory Optimization Solution Actually Leading to Profits?

The Inventory Optimization link in your chain is a critical piece to increase profit. How much inventory do you carry to meet future service goals without overstock and high carrying costs? How often should you reorder, acquisition costs like inventory carrying costs will reduce profits. Your inventory optimization solution needs to balance how much to carry, how often to reorder, demand rates, gross profits, pick quantity, supplier minimum, and business rules with a methodology (the math) that maximizes your profits while minimizing your risks.
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7 Reasons Demand Driven Is More Than a Buzz Word

What Do You Really Know about Demand Driven

Demand Driven sounds impressive doesn’t it? Sales and marketing people keep saying you need to be ‘Demand Driven’ and let’s be honest, most marketing and sales folks are like politicians, they can say a lot that sounds amazing but do very little to support their message or meaning. To understand the importance of Demand Driven, you need to identify what is true and what is false about Demand Driven concepts, otherwise the Buzz Term Demand Driven just becomes a Buzz Kill.
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4 Inventory Replenishment Software Danger Signs

Is Your Inventory Replenishment Software Working?

When you have out of stocks and overstocks at the same time, the question you need to ask is Do You Need better Inventory Replenishment Software? Inventory Replenishment is a critical link in your chain. Ask yourself, is your current inventory replenishment software delivering the best service levels to match your customer demand? Does your inventory replenishment software maximize profitability with inventory optimization technology to create purchase orders? Do your automated Purchase Orders minimize inventory to carry only what is needed to meet service goals and still meet supplier shipping requirements? Do your users have tools on the Purchase Order pages to aid the Purchase Order approval and exception management processes? If not, then why not, what are you losing to your competition every day you do nothing?
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Solution Found For Promotional Inventory Replenishment

Promotions are Huge, That Doesn’t Mean Inventory Should Be

You’re very familiar with the importance of promotions, how they can make or break sales figures for the quarter or even the year. But an extremely successful promotion brings to light a challenge: Inventory Replenishment. While we often think of general retail for sales events to model, it is the grocery industry and their weekly promotions that highlight the pain in the promotion link of a supply chain. Let’s take a look at the root of the problem, and how the challenge can be overcome with ingenuity and technology to give you an edge over your competition.
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The Truth About Demand Driven Inventory Replenishment

Inventory Replenishment Software’s Hidden Agenda

Demand Driven Inventory Replenishment sounds nice. If your inventory replenishment software uses demand forecasting and incorporates demand concepts to calculate what products to order when and how much to order, tell us have you reached perfection? Sadly, most inventory replenishment software apps are missing a critical component – profit. Most Inventory Replenishment software was written to focus on meeting plan and staying in-stock. A quick review of the number of retailers who have gone away in the past 3 years highlights the success of that strategy.
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Six Common Promotion Management Issues - Which Do You Fix Now?

Customers Expect Retail Promotions

Your Promotion Management process has become a critical link in your chain. Customers expect promotions and events in the marketplace today. How do you match the right inventory with the right products at the right location and price? Most of you build a promotion plan like always and then hope for the best each month. Funny how that’s almost like buying a lottery ticket. In fact, the lottery ticket is cheaper, and the ROI is significantly higher for your dollar investment.
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Five Secrets of Successful Inventory Replenishment You Need to Know

Inventory Replenishment Checklist

Knowledge is power, as the old saying goes, and that’s certainly true about Inventory Replenishment. Let’s review this critical link in your supply chain and identify where you need to tighten down your processes. Inventory replenishment is ultimately about knowing what to order where, when and how many to meet demand for service while maintaining the lowest operating cost (inventory optimization) to maximize your profits.
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