July 2023

Supply Chain Demand Planning and Forecasting predicts future demand for products & services, ensuring efficient supply meets this efficiently. Benefits include minimizing stockouts, reducing lead times, enhancing customer satisfaction, informing pricing, promotions & new product introductions. It helps identify the root causes of demand fluctuations and adjust production & supply chain processes accordingly. Effective demand planning and forecasting improves profitability, lowers costs, and increases competitiveness.

What is Strategic Sourcing?

The 13 supply chain terminologies that are essential for individuals who are interested to delve into the world of supply chain management are of critical importance. Knowing such terminology can provide a better understanding of the supply chain processes and procedures that occur both upstream and downstream. By learning these terminologies, it can assist in developing the necessary skills and gaining a competitive edge in the supply chain industry. These terminologies range from demand planning, supplier performance management, inventory optimization, and more. Each term has its unique role and importance in the supply chain industry, and an individual can benefit from having a comprehensive understanding of each one. These supply chain terms are constantly evolving, meaning that individuals must keep up with the latest developments to stay current in the industry. By keeping up to date, supply chain professionals can enhance business efficiency, reduce costs, and create better business relationships.

How to improve a Retail Chains’ Efficiency with Lean Six Sigma 101