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Inventory Management Blog

Published in Blog, Building Materials Campaign - 05 August 2020

Don’t Get Hammered By Excess Stock

Getting hit with excess stock hurts, but it’s more than just one shot. First it clutters your warehouse, and like a hammer, it hits again by costing you money as it becomes outdated and obsolete.  In order to avoid the pain of excess stock, you must be nimble and diligent. First, you must know where to look -  did your excess stock come
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Published in Blog, Building Materials Campaign - 29 July 2020

How to Improve Forecast Accuracy by Aggregating Like Items

It’s a given that having clean, reliable data is one of the most important parts of forecasting. But, almost as important is knowing how to use it correctly. At Slimstock, we often talk about the importance of having individual stocking strategies for each of your markets. So, it’s understandable that this same thinking could carry
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Published in Blog, Building Materials Campaign, News - 27 July 2020

Why is Your Forecast Unreliable?

GUIDE TO UNDERSTAND FORECAST RELIABILITY Do you believe in your forecast? Confidence comes easy when times are good, but what about when demand changes? Businesses from building materials to machine parts have seen their share of peaks and valleys lately, but the ones who get ahead have forecasts that stay reliable even when their markets
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Published in Blog, Building Materials Campaign - 22 July 2020

Stock Availability| Improve & Build a More Reliable Operation

In the building trade, customers can not afford to put their project on hold because the tools, materials or components they need are out of stock. However, with spiralling ranges consisting of thousands upon thousands of products, maintaining 100% availability across the entire assortment would render most building suppliers bankrupt. But what can supply chain
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Published in Blog, Building Materials Campaign - 20 July 2020

Know What to Stock- Prioritize Your Assortment to Find the Right Items for Your Market

Can you stock everything your customers want? How big would your warehouse need to be? Almost every company is trying to provide one-stop shopping for their customers, which means that inventory assortments are expanding more and more. If you’re a building materials company, chances are you stock nails, screws, insulation and 2x4s aplenty. If enough customers want
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Published in Blog, Building Materials Campaign - 14 July 2020

How to avoid the unseen costs of Rebates and Order Quantities

It might seem odd, but rebates defy the laws of good inventory management.   Let’s say you work in building materials wholesale and need more CAT5e cable. You normally order 2,000 feet at a time, but it’s near the end of the quarter so your supplier is offering you a percentage of your order back on
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Published in Blog, Building Materials Campaign - 13 July 2020

Strengthen Lead Times in Building Materials and HVAC

How to Keep Lead Times Consistent and Keep Customers Happy A successful supply chain requires the coordinated efforts of multiple teams around the globe. In addition to recurring challenges such as shifting international trade agreements or Chinese New Year, there are also unexpected events that can have rapid, worldwide effects like the COVID-19 epidemic.   Building materials
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Published in Blog, Building Materials Campaign - 06 July 2020

Supply Chain Insights from Vallen- Q&A

Kim Olesen, Director of Supply Chain at Vallen, shares her Experience Dealing with Inventory Management and Procurement Challenges   The global COVID pandemic has put supply chain professionals under more pressure than ever to get the right products on shelves with fewer resources. Companies in the industrial components industry that source significant portions of their inventory from overseas have
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Published in Blog - 28 June 2020

NEW PRODUCT LAUNCH: INNOVATION IS THE KEY

Will the post-COVID-19 emergence derail the new product introduction? New product launches are exciting and nervous times for any industry. But unfortunately, the COVID-19 pandemic is disrupting everything from the NBA to the most significant trade show events. So, it’s not a big surprise that it may be endangering new product launches.    Many industries have decided
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Published in Blog - 28 June 2020

The Reopening Stock Balancing Act

Managing Empty Shelves AND Excess Inventory as Locations Reopen Provinces and states have begun to open up piecemeal across Canada and the US. Because of this, many businesses are faced with the unique problem of empty shelves AND excess stock. In areas that are open for business, Slimstock customers have told us they’re back at regular demand or higher, and some have had their busiest
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Published in Blog - 02 June 2020

Supply Chain Planning: Before, during and after COVID-19

The last few months have been a big challenge for supply chain professionals across the globe. COVID19 has heavily impacted demand, while also constraining supply.  North American companies had to make new plans of action for their demand and supply planning throughout three distinct phases:   Pre-COVID19  During COVID19  Post-COVID19  In this piece, we’ll outline the different steps that companies have taken to balance supply and demand during this global disruption, and
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Published in Blog - 16 April 2020

A COVID-19 Simulation: how could we have mitigated the bullwhip effect?

Many supply chain experts stress that we will be facing a large bullwhip effect as a result of the COVID-19 crisis. For non-supply chain people: the bullwhip effect is a phenomenon where small changes in demand at the end-consumer level lead to (unreasonably) large orders and inventory levels at the manufacturer. There are a few
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Published in Blog - 30 March 2020

What’s the best formula to achieve optimal stock levels?

All companies work hard to achieve optimal stock. But the practise and methods of achieving differs from one sector to another. Three industries are analyzed in this article: retail, pharmaceutical distribution and wholesalers of automotive spare parts. In the following article, let's discuss the optimization of stock from an inventory management perspective, their common points
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Published in Blog - 25 March 2020

MITIGATE THE IMPACT OF COVID-19 ON YOUR SUPPLY CHAIN

The COVID-19 is currently causing an unprecedented crisis around the world. The uncertainty within the supply chain is enormous; factories are down, and sales are totally unpredictable now. To survive this crisis, you need to act quickly, decisively and effectively. We have listed down a few steps to help through these challenging times. UNPREDICTABLE SUPPLY
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Published in Blog - 23 March 2020

TO WHAT EXTENT SHOULD YOU BUBBLE WRAP YOUR AVAILABILITY- Q&A

The COVID-19 global health crisis is affecting thousands from around the world, and significant economic impacts are expected to stay in the future. From the Supply Chain perspective, the challenges are: the companies must carefully monitor demand and inventory to accommodate production loss if factory closure and economic retardation happen in the future. Or they
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Published in Blog - 12 February 2020

Why your inventory reduction efforts are doomed without product management involved ?

Did you know that over 25% of obsolete inventory is caused by the first purchase of a product? And that an even larger proportion of obsolete inventory is due to not planning the phase-out stage of a product properly? Both new and end-of-life products are not the responsibility of the supply chain planning team. Hence,
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Published in Blog - 11 February 2020

How e-commerce is impacting inventory management?

Retail is an ever-moving landscape, and over the last decade, many retailers have changed the way they operate. Recently Bose decided to close all it's Brick & Mortar stores and focus solely on 3rd party retailers and their e-commerce platform. Other retailers, many of which started as e-commerce only, actually make a move to Brick
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Published in Blog - 03 February 2020

PREVENT STOCK-OUTS WITH STOCK REPLENISHMENT TACTICS

Stock replenishment - While there is little anyone can do about the weather, especially in Canada, what can you do to mitigate the impact of this supply chain disruption? Recently the storm in Newfoundland left retailers with empty shelves and angry customers.  While a shortage of salad is one thing, what about a lack of
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Published in Blog - 13 January 2020

SEVEN DEADLY SINS OF STOCK-OUTS

Stock-out is the worst nightmare for any business. They not only lead to lost sales, but out-of-stocks also result in poor customer satisfaction and lower loyalty levels. Customers often feel let down when you don't have what they're looking for, and the last thing you need is to disappoint them. Stock-outs are the ultimate crusher
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Published in Blog - 09 January 2020

ASSORTMENT MANAGEMENT: WHICH PRODUCTS SHOULD YOU STOCK?

STUB OUT THE PRODUCTS BURNING THROUGH YOUR MARGINS! Did you ring 2020 with a new resolution to quit smoking, lose weight or exercise more? And we know these resolutions sound familiar because we work very hard to leave any habit that is detrimental to our health. Just like our habits, many business leaders know they
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Published in Blog - 17 October 2019

INVENTORY MANAGEMENT TIPS FOR THE HOLIDAY SEASON

Holiday Season, many people look forward to it all year: decorating the house, cooking enough pudding for the whole week and having a great time with family and friends. But for some people, this time of the year means sleepless nights, headaches and lots of stress. For most retailers, it is the most critical time
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Published in Blog, News - 17 October 2019

ADDRESSING SIGNIFICANT PAIN POINTS IN THE AUTOMOTIVE INDUSTRY

In early October of 2019, Slimstock Canada hosted a thought leadership roundtable in Mississauga on emerging trends and challenges in inventory management for the automotive industry. As the capstone to our blog series“Driving on the Bumpy Road of Automotive Supply Chain”, the session was a platform for like-minded professionals to network and share challenges and
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Published in Blog - 17 October 2019

ACHIEVING OPTIMAL STOCK LEVEL FOR FLUCTUATIONS IN DEMAND

How to achieve the optimal stock level with ABC classification Imagine you have 150 televisions in stock with an average sales volume of 100 units per period and a minimum order quantity of 20 units. The lead time is seven days and given that you do not want to disappoint your customers with stock-outs, you
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Automotive Aftermarket campaign- Q&A Published in Automotive Campaign, Blog - 27 September 2019

Q&A- Challenges in Transportation Industry Supply Chain

Rapidly changing technologies, unstable markets, erratic demands, and changing demographics - these are just a few of the bumps automotive and transportation supply chains are facing. Over the last few weeks, we at Slimstock Canada have covered a few of the major pain points in the automotive aftermarket industry. We’ve discussed these because the demand
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Published in Automotive Campaign, Blog - 12 September 2019

Automotive Supply Chain: Changing Demographics

Is your automotive business ready to cater its inventory to the needs and wishes of a changing customer base? Welcome to Part 5 of our series Driving on the Bumpy Road of Automotive Supply Chain. In this series, Slimstock Canada will help you resolve the most common areas of concern in the automotive aftermarket supply
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Published in Automotive Campaign, Blog - 05 September 2019

Automotive Supply Chain: Delivery Lead Time

Welcome to Part 4 of our series Driving the Bumpy Road of Automotive Supply Chain. In this series, Slimstock Canada will help you resolve the most common areas of concern in the automotive aftermarket supply chain, and provide you with in-depth coverage on how it is drastically changing. The star of our series is Jack,
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Published in Automotive Campaign, Blog - 29 August 2019

Automotive Supply Chain: Forecasting Inventory In A Changing Climate

Welcome to Part 3 of our series Driving the Bumpy Road of Automotive Supply Chain. In this series, Slimstock Canada will help you resolve the most common areas of concern in the automotive aftermarket supply chain, and provide you with in-depth coverage on how it is drastically changing. The star of our series is Jack,
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Published in Blog - 20 August 2019

5 WAYS TO TELL YOU’VE OUTGROWN EXCEL

How to know when your business is ready to upgrade from spreadsheet forecasting and ordering For many business folks, Excel is synonymous with demand planning and ordering inventory. It’s often the go-to choice because of its familiarity and seeming ubiquity. There’s a good chance that the computer you’re reading this article on right now has
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Published in Automotive Campaign, Blog - 14 August 2019

Automotive Supply Chain: Stocked Inventory vs. Working Capital

Welcome to Part 1 of Driving on the Bumpy Road of Automotive Supply Chain. In this series, Slimstock Canada will help you resolve the most common pain points in the automotive aftermarket supply chain and provide you with in-depth coverage on how it is drastically changing. Our series will focus on Jack, a supply chain analyst at
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Published in Automotive Campaign, Blog - 08 August 2019

Driving on the Bumpy Road of Automotive Supply Chain

Agile and robust inventory management is your best bet against the complex and competitive conditions of the auto market. From our start in 1993, Slimstock has helped close to 1,000 business owners, and large companies manage their inventory better, including hundreds in the auto industry. Because of the large number of items which can’t be
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Published in Blog - 30 July 2019

HOW TO IDENTIFY AVAILABILITY PROBLEMS

Being able to identify availability problems on time is essential to take the necessary measures before it is too late. Discover in the following Slimstock knowledge article, how to identify availability problems in your business. At Slimstock, we know that one of the reasons for maintaining inventory is to provide customers with the best possible
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Published in Blog - 18 July 2019

BEST PRACTICES IN INVENTORY MANAGEMENT

The reality of our days demands that we occupy good practices in inventory management. This guarantees an efficient process when making strategic, tactical and operative decisions with agility. For this reason, in today's knowledge article, you can learn some fundamental tips to generate good practices in inventory management. For years, access to address these types
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Published in Blog - 09 July 2019

MONTHLY VS WEEKLY FORECASTING

Which forecasting method is best for your business? The goal of Slim4 – Slimstock’s inventory optimization software – is to predict the future. Specifically, how much of an item you’ll need to meet customer demand. Predicting the future is hard work even using historical data. With our ever more interconnected world, the number of data
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Published in Blog - 27 May 2019

3 WAYS EXCESS STOCK CAN PUT THE BRAKES ON YOUR PROFITS

If you’re rolling a new hybrid CUV off the assembly line or chrome-plating exhaust tips for the aftermarket, the automotive industry runs on parts. In 25 years of working with manufacturers and distributors, we know that demand planning and inventory optimization are evergreen topics in the auto industry. Reducing excess stock can be a major
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Published in Blog - 23 May 2019

10 TIPS FOR MANAGING BROAD PRODUCT RANGES

Retailers face multiple sales channels and broad ranges of products. So, what stock should be maintained and how to offer the best level of customer service? Discover it in the following Knowledge Article, where we will share ten tips to manage wide ranges of products that are continually expanding while controlling costs. CHALLENGES TO MANAGE
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Published in Blog - 23 April 2019

EXCESS STOCK | TRIM DOWN YOUR EXCESS INVENTORY!

Excess stock is bad for business. It takes up valuable warehouse space and costs you a lot of money while it becomes obsolete. And, 10% of the items in your warehouse will never be sold, according to Slimstock inventory analysts. These items are unlikely to bring in revenue, so why are you holding on to
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Published in Blog, News - 22 April 2019

IMPROVED INVENTORY MANAGEMENT: REDUCING FOOD WASTE

If you find yourself having to throw food items every few weeks from your refrigerator, imagine what goes on at a grocery store. Given the size of the industry, reducing retail food losses can mean significant savings for companies. Retail is one of the most dynamic sectors in the Canadian market due to the significant
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Published in Blog - 26 March 2019

THE IMPORTANCE OF THE ABC ANALYSIS

Over the years, we have found many companies that have thousands and thousands of SKUs, but does it help companies to be more profitable? Maintaining so much inventory can have the opposite effect. So how can companies reduce their inventory while improving service? An important point for this is to perform a sharp ABC analysis.
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Published in Blog - 16 April 2018

The secret to good forecasting?

Thanks for asking, but it’s classified... Demand Classification is a systematic, logically founded method of ascertaining and clustering the characteristics of sales history into groups, before applying the most appropriate forecasting techniques automatically. Classification enables a significant improvement in forecast accuracy with significantly less effort and is lightyears ahead of the traditional ‘pick best’ approach.
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Cash is King Published in Blog - 12 April 2018

Is Your Business Trapped In Cash Flow Hell?

The time to expand your business is now “As levers of financial management go, none bears more weight than working capital. The viability of every business activity rests on daily changes in receivables, inventory, and payables.” -S.L. Mintz Whether selling a revolutionary product or essential service, the challenges of gaining access to the working capital
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A method for creating more reliable forecast Published in Blog - 10 April 2018

6 Ways To Remove Uncertainty From Sales Forecasts

An Adage For Improving Forecast Quality A sales forecast represents many things in business, but is most universally understood as the pulse of a company. From an operations perspective, a forecast lets the supply team anticipate and quickly respond to changes in customer demand, and helps manufacturing and distribution companies optimize inventory levels, minimize stock-outs and
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Future Demand Published in Blog, News - 09 April 2018

Have you been bitten by the Chinese dragon?

A lesson in managing supplier closures Every year, China witnesses one of the largest human migrations in the world, as the nation’s workforce put-down tools and return to their home town’s to enjoy the Chinese New Year celebrations. Factories across the country close shop for up to 40 days while businesses across the rest of
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Whats-driving-your-availability Published in Blog - 06 April 2018

What’s driving your availability levels?

Do you have enough stock to meet demand? Do you have too much? How can you ensure your service level targets satisfy the expectations of the business while still keeping investment in stock under control? Can establishing more appropriate service levels actually help boost margins? For stock-holding businesses, availability is everything! However, while the commercial
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Published in Blog - 05 April 2018

That’s a lovely long tail you have!

The ultimate assortment conundrum From prangs and punctures to general wear and tear, every car endures a lifetime of hardship. To prolong the life of these vehicles, a sophisticated aftermarket spare parts industry has taken off. Although Billions are spent every year on automotive parts and components, businesses operating in this sector face intensifying pressure
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Supply Chain Opimization Published in Blog - 04 April 2018

Playtime is over: retailers must get serious about Omni-channel

One of the world’s largest retail chains of Toy stores made headlines recently as the North American arm of its global operation filed for bankruptcy. While the news came as a surprise to many, the business in question did not fail because consumers had stopped buying toys. Given that global sales of Toys and games were
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ABC-analysis Published in Blog - 19 March 2018

PART 1: Building blocks model for a better supply chain

Nail down your assortment strategy! When it comes to building products, customers expect suppliers to be able to provide anything and everything at a moment’s notice. In response to this demand, many businesses in the building industry have responded by expanding huge assortments encompassing many thousands of different SKUs. The problem is, however, how much
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FlowTechnology - Warehouse Published in Blog, Manufacturing - 20 October 2017

Flowtechnology UK achieves a more fluid operation with Slimstock

To keep up with continuous growth and spiraling complexity, the UK’s largest distributor of fluid power products, Flowtechnology, has taken an important step towards simplifying their supply chain processes. Already impressed by the results delivered by Slimstock’s inventory management solution, Slim4, the business has now taken the decision to upgrade the bolt-on solution to also enhance
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Published in Blog, Manufacturing - 20 October 2017

Vegware caters for global growth with Slimstock partnership

After extensive research into the market, Vegware, the award-winning manufacturer of eco-friendly catering disposables, has this month joined forces with Slimstock to help improve their already impressive availability levels. Following several years of rapid growth, the Edinburgh-based business will take advantage of the inventory management specialists’ solution, Slim4, to help keep up with the demand
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Published in Blog, Manufacturing - 20 October 2017

Tour de Supply Chain: Manufacturers

Bicycle production in the UK has undergone a resurgence in recent years. Since 2007, output has more than doubled and in the last year alone, exports have increased by an impressive 13%. However, UK-based manufacturers have a lot of work to do before they can compete with the Far Eastern powerhouses that dominate the industry.
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PMTT-E-de-Witte-Slimstock Published in Blog - 13 October 2017

Slimstock’s Erik de Witte joined Pimp My Tuk-Tuk Charity Ride 2017

This year, Slimstock took part in the Pimp My Tuk-Tuk (PMTT) Charity ride to raise money for the Foundation of Goodness (FOG). 54 drivers participated in the 8-day drive through Sri Lanka in Tuk-Tuks. Slimstock Operations Director South East Asia, Erik de Witte, shares his experience with us. Trip of my life Before starting the
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What's the function of stock Published in Blog - 29 September 2017

What is the function of stock?

Different times call for different inventory strategies. However, when the function of stock is not clear, changing the inventory approach can often prove problematic. Many retailers lack synergy between the inventory strategy and the overall strategy of the business. As a consequence, many retailers struggle to align the inventory strategy with the strategic focuses of
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Slimstock hot news Published in Blog - 29 September 2017

Customer satisfaction takes a dip | Cashing in on the product lifecycle

From a major supermarket shortage to why it pays to invest time in your new products introductions, supply chain bloggers, Sam Phipps and Jessie Cooper, explore the hottest topics from the last 7 days. Customer satisfaction takes a dip amid houmous crisis As the latest food crisis hit British retailers this week, frustrated shoppers took
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Slimstock robust supply chain Published in Blog - 29 September 2017

Behind every experience is a robust supply chain

As events go, things don’t get much bigger than the infamous Glastonbury Festival. Given that over 200,000 people attended this year alone, Glastonbury is a real success story. However, the popularity of Worthy Farm and lucky artists that get to play there is no happy accident: this event takes years of diligent planning! From the
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