Predicting the future to optimise performance
Factory shutdowns in China. Consumer buying frenzies, followed by a sudden drops in demand. Reductions in working capital. All of these conditions are constantly evolving and are impacting your go-forward inventory strategy. Everyone hopes the global economies will one day emerge and normalise. However, normalisation does not mean a return to normal.
In the past, Forecasting inventory requirements has always relied on a mix of past trends, sound predictions and supplier relationships. But the global pandamic has now changed all that. In a world gone mad, your warehouse can be a source of incredible value, or a critical liability to your organisation.
Accessing the right data visualisations will help you plan for the unexpected and manage the tightrope of supply and demand more effectively.
Strategies to help you with Inventory Planning include:
Use Inventory Management Software
Use Inventory Management Software
Establish a Re-Order Point
Use Inventory KPI's
Drop Ship as You Grow
