Inventory Optimization Archives | Quantzig

Tag: Inventory Optimization

supply chain analytics

Business Benefits of Implementing a ‘Data-Driven + Analytics Powered’ Approach to Supply Chain Management

Quantzig, a leading analytics service provider, has announced the launch of their latest newsletter that lists how businesses can drive supply chain excellence using advanced supply chain analytics.

Supply chains have always been complex, requiring the integration of multiple processes, applications, technologies, and organizational. At Quantzig, we believe that the challenges arising due to the fast-evolving digital transformations and globalization of today’s businesses can be overcome by applying advanced supply chain analytics methodologies. Quantzig’s portfolio of supply chain analytics solutions is designed to help businesses analyze the critical factors that disrupt supply chain processes across industries. Leveraging our advanced supply chain analytics solutions can not only help you simplify, harmonize, and accelerate planning processes, but will also empower you to monitor and track supply chain performance, and respond effectively to changes and unplanned events.

How Our Supply Chain Analytics Capabilities Can Help

Inventory Management

In a rapidly transforming business environment, inventory management turns out to be an important factor that controls costs and optimizes cash flow while helping businesses react proactively to the changing customer demands. Also, in an omnichannel world, leveraging supply chain analytics alone to analyze what you’ve got, where it is, and where it should be can be tough and might not help you make crucial inventory management decisions. As such, it’s crucial to gain end-to-end visibility on factors that impact supply chain performance. Failing which, understanding how to move and account for inventory more profitably and making the right trade-offs can be all but impossible.

Warehouse Management

Efficient, reliable, and productive warehousing is a critical capability in any supply chain. But all too often, inaccurate information, incoherent processes, and poor supply chain visibility hamper efforts to attain it. The key is to use supply chain analytics to gain a consolidated view of trusted information and supply chain processes so you can optimize and continuously improve end-to-end supply chain operations, even as your business grows in size and complexity.

Demand and Capacity Planning

Leveraging supply chain analytics to integrate supply chain data sets with ERP data can open up a new world of insights into business processes and supply chain operations, from managing supplier risks to responding to customer buying behaviors. The integration of processes also lays the foundation for improving supply chain efficiency, facilitated by a centralized list of qualified and reliable suppliers and demand-centric customers.

New supply chain analytics technologies and digital capabilities are constantly disrupting supply chains and redefining existing business models. They have a profound impact on supply chain operations as we know them and empower businesses to drive new demand-driven supply chain analytics capabilities and transformation strategies that were difficult to build in traditional supply chain management systems.

To maximize your chance of success and drive business value through the use of innovative technologies and supply chain analytics, your business must be able to make informed data-driven decisions based on accurate, timely, and granular data. It’s essential to have as much flexibility and agility as possible across the entire supply chain to be able to sense, analyze, and adapt to the constant changes in supply chain operations.

Download the compelete newsletter for in-depth insights on our supply chain analytics capabilities.

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inventory optimization

Quantzig’s Inventory Optimization Solutions Helped a Major Retail Company to Improve Supply Chain Efficiency by 18%

A leading retail chain based out of Norway was facing several challenges due to a myriad of inventory management problems such as demand fluctuations, reverse logistics, overstocks, managing SKU’s, bullwhip effect, and stock-outs. To tackle such predicaments, they approached Quantzig to leverage its inventory optimization solutions to maintain an accurate count of their inventory and improve overall supply chain efficiency.

The Business Challenge

For retail companies, inventory is the largest incessant investment today, so getting the most out of this investment is important for success. Yet inventory optimization in an omnichannel world presents a whole new set of predicaments for retail players. Though retail businesses are adopting innovative approaches to enhance their service levels, they fail to devise effective strategies to make it profitable.

Quantzig’s supply chain solutions follow the critical path method for managing and overcoming supply chain disruptions which can otherwise lead to huge financial losses. Request a FREE proposal to gain better insights into our portfolio of services.

Better inventory management plays a crucial role in improving customer satisfaction levels which, in turn, helps retail companies in the long run. Inventory optimization is the easiest proven path to significant cost savings and increased revenue for retail companies. At Quantzig, we offer inventory optimization solutions that help businesses to strike the perfect balance between inventory investments and service levels. Also, it empowers them to build an optimal inventory system that is more connected, intelligent, and scalable.

To combat the growing threat posed by online retailing, a leading retail company in Norway was looking at a holistic approach to inventory management to manage their warehouse at multiple locations, deal with overstocks and out-of-stock scenarios, and overcome inventory risks.

Our inventory optimization experts help leading companies identify and measure the risks in the inventory. Get in touch with them right away to know how.

Inventory Optimization

Solutions Offered and Value Delivered

Quantzig’s inventory optimization experts adopted a comprehensive approach to understanding the pain points in the client’s supply chain network. They leveraged advanced algorithms to optimize stock levels and provide better control over the inventory. Furthermore, this helped the client to save money, improve their customer service levels, and boost customer satisfaction significantly.

Our inventory optimization solutions also empowered the client to:

  • Reduce inventory levels by 25%
  • Improve cash flow and return on invested capital
  • Enhance production cycles, visibility, and agility across all points of supply chain
  • Boost supply chain efficiency by 18%

Quantzig’s supply chain solutions empower companies with real-time data visualization dashboards to make accurate decisions and gain better control over the inventory system. Request a FREE demo below to know more.

Supply Chain Network Optimization

Supply Chain Network Optimization: Key to Boost Supply Chain Results

What is Supply Chain Network Optimization?

Supply chain network optimization is an advanced analytics approach that aims to optimize supply chain functions by offering a holistic view of the end-to-end supply chain operations. Companies can develop powerful network optimization capabilities to align the supply chain network to long-term business goals and reduce costs and maximize output with the help of supply chain network optimization. Also, it helps in improving service levels and reducing working capital across the end-to-end distribution network.

At Quantzig, we aim at developing dynamic supply chain network optimization capabilities that help businesses to realize the true potential of their existing supply chain networks. Additionally, our supply chain analytics solutions help in focusing on reducing complexity, downtime, and cost through automation, orchestration, analysis, and technology investments.

Request for FREE Proposal to gain better insights into our portfolio of supply chain analytics solutions.

Supply Chain Network Optimization Best Practices

Drive clarity of supply chain needs

For any business, it is important to have 360-degree visibility into overall supply chain network design exercise. Each part of the supply chain network optimization hierarchy has its own needs and requirements. A top-down approach can help if a comprehensive supply chain network design exercise is contemplated. This approach offers a long-term framework in a time-phased manner, which acts as an input to tactical planning. Tactical planning decisions can further help in structural and operational policy decisions in a given supply chain model framework.

By optimizing the efficiency and capability of your network management systems, we ensure that your infrastructure investments provide maximum returns. Get in touch with our experts to know more.

Adopt a two-stage optimization approach

Companies should adopt a two-stage approach for supply chain network optimization and design exercise. These two approaches are:

Funnel Approach: Companies usually work with several products, processes and facilities to achieve the designed future target. This results in the creation of multiple scenarios. To achieve results faster, companies need to limit the number of scenarios to enable optimization. This can be achieved by using the KPIs set for a strategic network optimization exercise, such as investment cost, cost of ownership, ROI, etc.

Sensitivity analysis: The second approach revolves around leveraging what-if analysis before finalizing the strategic recommendations, through multiple scenario analysis based on possible changes in demand, cost inflation,  deflation, and fiscal policy.

Our supply chain network optimization solutions portfolio is committed to ensuring that your network meets the supply chain requirements. Request a FREE demo now!

Frequency of a supply chain optimization exercise

Companies need to review their key metrics and goals against existing supply chain networks periodically. Since supply-side capabilities and demand environment are dynamic so doing an annual review on key operating needs like inventory management can offer visibility into network performance. Also, it can help companies in translating network data into actionable business insights, improving their network management capabilities.

Want to learn more about best practices for supply chain network optimization? Request for more information below.

reverse logistics

Reverse Logistics Management: Top 4 Benefits that Can Help You Boost Your Supply Chain Efficiency

Reverse logistics management is a multi-step process that helps tackle multiple challenges that arise in target market segmentation, logistics routing, and supplier management. Target market analysis for any reverse logistics process has become even more challenging due to the increasing number of customers and their rapidly changing behavior.

Without a robust strategy to conduct target market analysis, business tends to fail at offering complete customer satisfaction. Also, it increases distribution costs and resource investment levels. Therefore, it is very essential for businesses, especially e-commerce, to redesign their reverse logistics system.

At Quantzig, we understand that reverse logistics management enables companies to design and maintain cost-efficient supply chain networks. Additionally, a better reverse logistics system can help companies to improve profit margin and operations. In this article, our team of experts has highlighted a few important benefits and metrics that can help businesses to redesign their reverse logistics strategies and boost supply chain efficiency.

Are you finding it difficult to track shipping and monitor shipping status? We’ll help you. Get in touch with our experts right away.

RLBenefits of Reverse Logistics Management

Customer satisfaction

In today’s digital era, customers are more empowered and informed than ever. Therefore, it is important for businesses to maintain good customer relationships in order to retain customers. With the increasing number of purchases made online, customers expect faster, hassle-free and convenient returns. A good reverse logistics management system can help you enhance customer satisfaction and drive loyalty. Additionally, it helps in controlling costs and improving revenue. Therefore, it is imperative that businesses invest more in reverse logistics analytics solutions that reduce cycle times and improve customer satisfaction levels.

Better ROI

For any business, tracking and maintaining adequate inventory levels is quite an uphill task. Reverse logistics management helps in improving the speed of return and replacement, thereby, reducing the burden on inventory. As a result, the amount of capital hooked up in the inventory will reduce leading to significant improvements in ROI.

Our supply chain analytics solutions can help you identify new opportunities within the supply chain and benchmark costs across each of the supply chain nodes. Request a FREE proposal now to know more.

Improved Environmental Sustainability

Today every company focuses on tracking their environmental footprint. Advanced supply chain analytics solutions like reverse logistics management help companies to implement strategies that are environmentally sustainable. It promises to help companies to reduce the burden on the assets and the resources that are crucial to keep them running.

Metrics to Track Reverse Logistics Management

Companies across industries require metrics to evaluate the progress against its reverse logistics management plan. Such metrics help businesses to measure the impact of returns on the supply chain. Also, they guide companies to analyze the root causes behind low return rates. Today reverse logistics management is fraught with challenges that can curtail your ability to improve logistics processes.  If you’re finding it difficult to quantify the performance of your reverse logistics system, then you must consider the following metrics.

Cycle time: Cycle time is considered to be an important metric for measuring the performance of your reverse logistics system. If the return processes are standardized and streamlined, the return cycle should be short and “hassle-free”.

Amount of product reclaimed and resold: For a better reverse logistics system, it is important for companies to track the percentage of the reclaimed and resold product. Also, this metric helps in estimating the total recaptured value.

Percentage of material recycled: This metric in reverse logistics management helps in tracking the percentage of recycled product in the stream of reverse logistics. Furthermore, this helps in inventory optimization and better supply chain management.

Request a FREE demo below to know how our customizable supply chain analytics solutions can help you reduce excess spend, resource wastage, and inventory costs.

Waste: For any reverse logistics system, it is important to track the products that get disposed of as waste. This helps in adopting an approach that can help with waste management.

Percentage of cost recovered: Another important metric in reverse logistics management is the percentage of cost recovered from the items returned by customers. This can help in analyzing the profitability of a product that did not sell well and therefore companies can take preventive measures to avoid such loses.

Total Cost of Ownership: This is one of the most significant metrics in reverse logistics management. It not only helps to estimate the total cost of ownership in acquiring the product but also helps to measure the total cost incurred in reselling the product.

Quantzig’s Advantage

Quantzig helps its clients with its customized supply chain analytics solutions to proactively reduce their volume of returns, protect their brand and maximize return on asset. Our best-in-class reverse logistics management solutions and years of operational expertise help businesses to enhance performance and profitability. Our analytics experts help businesses to create an ROI-focused strategy that is fueled by unparalleled analytics solutions that offer insights into supply chain processes. Also, our seasoned analysts help companies to identify actionable opportunities for inventory optimization, waste reduction, and profit maximization through data collected across the product lifecycle. We offer real-time insights driven by data trends through our customized analytics dashboards that further helps businesses in data-driven decision making and enables them to tackle complex supply chain management challenges.

Want to know more about the metrics that can help you manage your reverse logistics process? Request for more information below.

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inventory management

Weekly Round-Up: A Storyboard on the Benefits of Leveraging Analytics for Supply Chain and Inventory Management

LONDON: Quantzig, a leading analytics services provider, has announced the release of their new storyboard on the benefits of leveraging analytics for supply chain and inventory management. Each of these downloadable articles explains how analytics solutions can help companies to optimize their inventory, analyze their real-time supply chain metrics, improve cost structure, and track inventory levels effectively.

Companies across industries are facing critical challenges associated with the volume of inventory transactions, the complexity of the analysis needed to identify trends in inventory use, sales, and forecast demand. Leveraging the use of analytics in supply chain and inventory management can help companies to make well-informed business decisions, optimize inventory, improve the bottom line, enhance supply chain flexibility, and optimize resource usage.

Quantzig’s analytics solutions have helped companies to identify bottlenecks and supply chain risks by offering insights into real-time data. Below, we have summarized some of Quantzig’s free resources and have also highlighted ways in which analytics in supply chain and inventory management has helped businesses to excel in the competitive marketplace.

A proper inventory management system can help in optimizing logistics, improving order fulfilment ratios, and increasing operational efficiency. Request a FREE demo to know how our solutions can help.

#1: How leveraging analytics help in inventory management? Reducing inventory holdings is a daunting task for businesses but adopting the right inventory optimization strategy can make this task easy. Quantzig’s analytics solutions take warehouse inventory management to the next level through sophisticated algorithms and customized dashboards that make stocking recommendations and offer a holistic approach to assess various demand and supply signals within the supply chain. This downloadable free resource offers actionable insights into essential steps to build an inventory optimization strategy.

 Inventory Optimization

 

 

 

 

 

 

 

 

Request a FREE proposal to gain comprehensive insights and achieve long-term benefits through our customized inventory management solutions.

#2: What are the best practices for warehouse inventory optimization? Monitoring and maintaining optimal levels of warehouse inventory seems to be a difficult task for businesses. However, businesses that succeed in doing so have been able to boost customer satisfaction rates, drive sales, and set an optimal capital cost structure. This free resource discusses some of the best practices that determine the most successful approaches to the complex process of inventory management. Also, it highlights some of the essential factors that evaluate the maturity of the processes associated with warehouse inventory management.

Inventory Management WP

 

 

 

 

#3: Transformational impacts of analytics on supply chain: Understanding digital customer behaviors and market trends amidst data explosion have become very challenging for businesses. But leveraging analytics can help in dealing with such challenges head-on by offering valuable insights into supply chain data. Incorporating analytics can impact both the top and bottom-line business results positively. A modern and digital supply chain network backed by the power of analytics can improve inventory management and the entire supply chain operations. Download this free resource to know more about the significant impact of analytics on the supply chain.

supply chain analytics WP

Want to know how our inventory management solutions can help you optimize the tracking of inventory and materials across the supply network. Get in touch with our experts.

Supply Chain Network Optimization

How Can Supply Chain Analytics Help Streamline Inventory Lifecycle?

In a highly competitive market driven by digitally empowered customers, supply chain analytics turns out to be a golden key to stay ahead of the curve. An inefficient supply chain leads to critical challenges such as lack of innovation, lack of accountability, and reduced visibility. At Quantzig, we help you navigate this competitive marketplace through our modern supply chain analytics solutions.

Key Challenges

New technologies coupled with skyrocketing datasets can impact the supply chain consistently. As a result, companies find it difficult to have a flexible and transparent supply chain. Also, ensuring compatibility throughout the supply chain is not an easy task for organizations. But supply chain analytics can help deal with all these issues effectively. It can offer actionable insights into the potential risks in inventory management and mitigate them by analyzing scenarios. Additionally, supply chain analytics can assist in organizing the reverse logistics process and make supply chain management better. These are only some of the many solutions that big data analytics can offer to your supply chain. But do you know which particular supply chain analytics solution can suit your organizational needs? Quantzig can help.

Download a free copy of this article on leveraging supply chain analytics to improve inventory lifecycle and gain in-depth insights into how analytics solutions can help you in inventory management.

Our Solution

Quantzig’s supply chain analytics approach is not a one-stop solution for all, but a solution that is customized for your organization. We provide a framework that comprises different supply chain analytics solutions and helps in solving end-to-end supply chain issues. We promise to offer a structured approach in defined steps that starts right from analyzing the current scenario to the execution of specific solutions that can vary from inventory management to supply chain management to logistics optimization.

Key takeaways:

  • Learn how to reduce inventory costs through smart demand sensing
  • Gain comprehensive insights into ways to improve production plan and inventory optimization with the help of supply chain analytics
  • Establish a consistent approach to promote cross-functional collaboration
  • Understand how a proper supply chain analysis framework can empower sales and operation execution
  • Learn how supply chain analytics can help you measure cash to cash cycle time
  • Comprehend how supply chain analytics solutions can enhance the functioning of transport logistics

Why Quantzig?

Quantzig has substantial data analytics experience in the supply chain landscape by working with our clients across the globe with end-to-end data modelling capabilities. Our supply chain framework comprises solutions that help our clients in prudent decision making. Our comprehensive approach to analytics projects ensures that we drive any organization’s competitive readiness and success and deliver crucial business insights within time and budget. We always aim to bring together the best combination of analysts and consultants to maximize business outcomes and drive continuous market excellence.

warehouse inventory management

6 Best Practices for Warehouse Inventory Management

Any small-to-medium sized business follows a core business practice of monitoring inventory levels accurately. But when it comes to supplying products through multiple channels on time, businesses do find it challenging. The constant pressure from several buyers and various store locations make it difficult for businesses to keep up with the market demands while monitoring the needs of their customers and the process of inventory. This is why businesses need to have a proper warehouse inventory management practice in place.

A proper warehouse inventory management system is the key to deliver efficiency and maintain a competitive position in the marketplace effectively. Businesses must focus on following best practices for warehouse management in order to move towards an effective inventory optimization approach and eliminate labour-intensive traditional methods.

At Quantzig, we understand the importance of effective warehouse inventory management and the difference it can create in driving optimum business results. And to help companies deal with inventory management challenges at the deepest level, our team of experts have highlighted some of the warehouse inventory management best practices that can guide in expanding product portfolios and supply chains. Also, these practices can assist organizations to boost their service levels and free up time for employees to concentrate on value-adding tasks.

Are you looking for ways to optimize your warehouse inventory? Request a FREE proposal now to know how our inventory management analytics solutions can help you.

Warehouse Inventory Management Best Practices

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