how retigence is helping store owners manage inventor in real time

HOW TO ALIGN INVENTORY TO REAL TIME DEMAND

 One of the most crucial role RETIGENCE predictive analytics has played in delivering  inventory optimization was for a mobile company. Traditionally mobile retailers purchase inventory from distributors  for a credit  period of 21 days.

The disadvantage here is that  the retailer had no idea on  the inventory stock in their books and the amount they have to pay  to the mobile company distributors  during the credit period of 21 days. There was no real time mechanism by which they coudl judge the value of their inventory in the real time. They only managed to  find the data during the end of the financial period

When it comes to merchandise ordering many retailers are restricted by lack of timely and accurate information on their sales, stock turn and customer demand

By quickly and easily delivering required information to mobile store owners including inventory  purchases and other decision makers  we have  insured that each inventory was reduced    so that the chances of overpaying the vendor  is almost nil.

this also ensures taking the guess  out of guess work, with helped retailers to acess real time analytics and insight into daily stocks and store right down to sku levels

,our retigence predictive hana  helps them interpret real time data with accuracy and speed by which retailers  can make their  decision faster , ultimately leading to higher sales, gross profit and faster growth
this saves  businesses from going bust. you dont have to wait for data , because we help access real time  computing data on the fly by theanalytical  power of sap hana

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Reviewing the role of Information Technology in enabling effective Supply Chain decisions

INFORMATION TECHNOLOGY AND SUPPLY CHAIN DECISION  MAKING 

Information technology plays a huge supporting role in ensuring the right mix of decisions and designs that helps supply chain managers take the right decision Information technology helps managers to access information on the functions and status of all other supply chain across geographic units.

For example a retail store can not only afford to figure out the store inventory, but also need information on consumer demand, lead times and associate variability’s like “logistic and transportation “

1. The IT department provides seamless and friction less support across the supply chain implementation , which forms the core of the supply chain. Any process related to order and purchase, manufacturing , inventory, transportation and logistics , and warehouse are mapped and tracked
2.  IT provides internal collaboration across departments, which are shared across the internet and cloud . It helps vendors, suppliers and other stakeholders across the supply chain to co-operate and collaborate.
3.  IT based decisions support systems is used to aid better decisions through the supply chain mechanism and ecosystem. Any critical issue on delivery, demand fluctuations ,lead time and risk can be “ tracked in real time” therefore giving the operational managers, the flexibility and the time to ensure compliance 
4. The role of Information Technology in terms of  measuring the entire supply chain performance and aid the operational managers to set internal metrics and benchmarks and observe “ their effectiveness”cannot be more emphasized. Business Intelligence tools includes a technology stack with layers for reporting and analysis

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Reviewing Supply Chain Redesign : Centralization vs Decentralization

HOW CENTRALIZATION AND DECENTRALIZATION OF  IMPACT SUPPLY CHAIN  REDESIGN

A supply chain redesign has a significant impact on the inventory and supply chain costs. This can be done only by a rigorous cost benefit analysis The centralization and decentralization example also illustrates the benefit of Risk Pooling.

  For example a company has 10 regional stock points which it serves its dealers from the stock point that is the closest and wants to centralize its stock holding, which means that the stocks will be held at one point and the retailers would be served from there.

However this arrangement, will increase the transportation costs along with the fact that it cannot force the retailers to hold excess inventory. This means that the company has to work on a much faster transportation and logistics scheme.However this  will increase its logistics  costs.

Whereas in the decentralization model, the transport costs will be low, but the cost of holding inventory at the companies warehouse will be  high.

Thus its essential to do a rigorous and effective costs analysis by “ using a preductive software to estimate demand and supply chain redesign In general whenever we pool demand across locations , the phenomenon of rik pooling may be observed. Risk pooling suggests that demand uncertainity is reduced when one pools demands are spread across location

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The 5 ways of managing inventory and stocks

Kinds of inventory: In general Inventory management may be divided into  various categories. This  categorization  helps  companies to tag and manage their inventory. Inventory is divided into broadly 6 categories

Cycle  Inventory
Safety Inventory
Pipeline Stock
Decoupling inventory
anticipation inventory
Dead Stocks

1)Cycle Inventory: As most firms work on the model of economies of scale, they need constant replenishment to their raw material and stocks. Mostly goods and raw material comes in batches.This inventory resulting from the production or purchase in batches is called as cycle stock . This is so called as the “ material and goods comes in a cyclical process and keeps repeating one after another

2) Safety Stock : As the name suggests , safety stock is m, Decouaintained due to emergency or as a contingency plan in case supplies are affected .In an ideal case of constant supply and demand safety stocks need not be maintained . However safety stocks are kept “ in case production is impacted due to political changes, uncertainty against nature, or disruption or natural calamities

3) Pipeline Stock:     In the pipeline inventory management " the pipeline" are the material and goods  that are already being worked on ( work in progress inventory) As production and transportation activities are constantly in progress , carrying in transit stock or pipeline inventory is required .Pipeline inventory is impacted by choosing alternative modes of  transportation

4)Decoupling stocks : Inventory that is accumulated between two interdependent  operations, as a buffer against the breakdown , disruption of machines/production . Thus it is not unusual for organization to hold large inventories across organization level as well as departmental level. This decoupling gives flexibility to decision making unit to manage its operation independently across their respective spheres of the supply chain

5)Anticipation Inventory: Anticipatory stocks consists of stocks accumulated or collected in advance, riding on back of expected higher or peak sales. This is done specially during the holiday season, when consumers are expected to purchase more. Anticipatory stocks” are stocks and raw materials that are kept “ to meet higher sales. There are two kinds of anticipatory stocks. a) Seasonal stock and b)speculative stock

6)  Dead Stock : Dead inventory is that part of the non moving inventory that is unlikely to be further used across supply chains or markets.These dead stocks are accumulated  either due to changes in customer, demand and tastes ( due to changing  demographics) or products that have become obsolete in the market.Ideally firms should dispose of dead stocks on a periodic basis, however they choose to show them under assets in their balance sheet, as disposing off would these reflect a financial loss in the accounts book.

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Managing Inventory across the Real Estate Market

DEMAND FORECASTING ACROSS THE REAL ESTATE MARKET

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Top 5 Consumer-driven Trends in Retail

The impact of Social Media– Social media platforms are now the determining factor behind sales of any brand.  Any word out on social media as tweet or post can make or break any brand.

The generation born in the 80s or 90s are setting the tone– The kids born in 80s and 90s are setting the tone for any brand. They are already profoundly shaping the consumer experience. Their spending power is one of the key factors in driving sales.

Personalized or Customized Preferences– Brands have now focussed their attention on personalization. Personalized products according to the choices of the customer are the hottest trend in the marketplace. Basically, the customer is the king and services are offered for him to cater his needs.

Applications on Smartphones– Peek into your smartphones, few clicks on the screen and you’ve successfully purchased the product. Applications have invigorated the shopping experience. From groceries to clothes, everything is available on smartphones. E-commerce websites have played a big role in shaping the popularity of shopping applications.

Big Data & Predictive Analytics– Big data is the massive amount of data that consumers are generating with every click and even physical movements in stores. The collected data can be analysed with the help of technology. Recent developments in predictive analytics have ensured the effectiveness of big data. Retigence Technologieshave developed such a technology in predictive analytics to handle the inventory problems that any supply chain faces. Retigence’s PRAN crunches the fed data to outline what to keep, what not to keep and how much to keep.;jl;ksnkl;kl;glsa

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Web Based Inventory & Demand Forecasting Software :10 Softwares Reviewed

THE TOP 10 WEB BASED INVENTORY MANAGEMENT SOFTWARE REVIEWED

Top 10 reviews on web based inventory management and demand forecasting softwares

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