by global_admin February 21 / 2018

The reason psychology keep an iron lid on inventory potentials

Inventory management touches nearly every function of the business, nearly every business process and employee make decision that ultimately affect inventory. I like to say that inventory is the sum of all planning decisions. But inventory also mean different things depending on who you ask. For sales people who are under intense stress to reach […]
by Stephan Skovlund September 28 / 2016

Why a sales forecast is vital in all areas of your business

In today’s fast-paced business environment, an accurate forecast is vital for most companies. But forecast means different things to different people. Sales typically use forecast on customer level whereas production focuses on the material level?So let’s see exactly how forecast is used across functions and why it’s important to understand the different purposes before improving […]
by Stephan Skovlund January 28 / 2016

ABC Inventory Analysis May Be Costing Your Company Millions

ABC inventory analysis is widely misapplied as a tool for setting service levels. As a result, many companies have significant inventory imbalances. This increases capital costs and lost revenue. The solution is Economic Stock Optimization. As a consultant, I often encounter a slightly religious attitude about service levels for different categories of inventory. For example, a manager may say that a 99% […]
by Stephan Skovlund January 18 / 2016

Why You Need a Forecasting Plan Before You Buy Forecasting Software

Many companies rely on forecasting software for planning and inventory management, but an algorithm rarely solves all forecasting needs. Coming up with an accurate forecast requires a mix of software, expertise in data analysis, and most of all, an intelligent planning framework.Forecasting systems rely on the assumption that the past will repeat itself. In the […]