Your retail outlet ordering too much and your other retailers order more just to buffer? Then products become expired or obsolete with time?
A clear approach to reduce waste and capitalize on inventory pooling is to do Just-In-Time (JIT) inventory.
A practical approach to do this is to focus on products that have stable demand first. Do a parallel run to compare what the retailer is ordering vs what JIT will propose by safety and cycle stock analysis. Consider inventory cost saved throgh pooling at a central warehouse, ordering cost, production synchronization cost and space saved. How the space freed at retailer can be used for products that can generate more revenue.
This blog covers new pull supply chain responsiveness and logistics concepts for hubs with good air and sea-freight connectivity like Singapore. Big data and web analytics are creating new demand opportunities, and help operations meet growing global regulatory standards. Very often, my work also involves helping online retailers improve operations. Discussions spans from raw materials serialization, to manufacturing, marketing and sales. Visualization and analysis techniques are also shared.
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