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Tag Archives: Lost Sales

Is-your-Demand-Forecasting-Ready-for-the-Year-of-the-Monkey-3-Things-to-CheckChinese New Year: Its Coming, Is Your Supply Chain Ready?

Chinese New Year starts on February 8, 2016. Most retailers are familiar with Chinese New Year because every year their Chinese suppliers and factories shut down for a few weeks. Chinese New Year is a huge celebration for China and many surrounding countries. Workers head home for a much deserved vacation that can last 4 weeks or more, leaving quiet offices and empty factories. That means nothing is shipping and that can result in empty shelves or managing the cost of overstocks- if your Inventory Replenishment software bought the right products.
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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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Demand Driven Do's and Don’ts: 3 Keys to Retail Success

Demand Driven Supply Chain Don’ts

Demand Driven retail/ wholesale companies stay ahead of the competition by focusing on three key areas in their supply chain. In addition, demand driven retailers and wholesalers know you will resist change and stay focused on sales and gross margin, failing to allow GMROI to impact operating decisions. Demand driven retail / wholesale companies understand you and the competition stay focused on fast profits, growing sales and increased customer counts without reviewing the cost of acquiring those customers or learning why existing customers didn’t spend more due to out of stocks resulting from lost sales. Demand Driven retail / wholesale companies know the things to avoid by watching the competition’s mistakes. Resisting change and staying focused on old business concepts and numbers doesn’t work in the marketplace anymore.
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Great Sales Forecasting Equals Out of StockSales Forecasting is a measure of the market response; it is not a measure of market demand. The problem with sales forecasting is that simple; the most accurate sales forecast is only a measure of market response to what you had available. This is not accurate when considering future market demand. Issues with constrained supply, service levels, price and promotion are not analyzed correctly in Sales Forecasting. This is why sales forecasting is responsible for out of stocks and overstocks in many companies.
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LeadTime and Seasonality: Top 5 Replenishment Blogs of Summer

Hottest Summer Topics of 2013: LeadTime and Seasonality

LeadTime, Lead Time Forecasting and Seasonality /Market Trends are the top interest blogs (stories) from Summer 2013. Based on the number of blog viewers and average time each viewer spent on each page, the following five blogs are 3-1 favorites from Summer 2013. These blogs indicate the key areas that companies want to improve going into the key fall sales season in 2013.

LeadTime and Lead Time Forecasting Do’s and Don’ts

LeadTime and Lead Time Forecasting (LT) are critical in the supply chain today. Tracking lead time variance and vendor fill rates may make a nice report; but reports don’t help you manage product service levels. We have customers who grew their gross margin over a million dollars from implementing our Lead Time Forecasting module; the ROI from effective Lead Time Forecasting is huge. While knowing when lead times change is important, most of you agree that how you use your lead time variance and fill rate (you are tracking lead time variance and fill rates right?) to improve your product/location service attained is the real goal in your supply chain

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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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