Inventory Management Blog

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

ABC CLASSIFICATION – ACHIEVING THE OPTIMAL STOCK LEVEL TO MEET SEASONAL FLUCTATIONS 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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Published in Automotive Campaign, Blog - 27 September 2019

Q & A with Drive Products- 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

Driving on the Bumpy Road of Automotive Supply Chain Part 5: 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

Driving on the Bumpy Road of Automotive Supply Chain Part 4: 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

Driving on the Bumpy Road of Automotive Supply Chain Part 3: 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

Driving on the Bumpy Road of Automotive Supply Chain Part 1: 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

The building blocks to a better supply chain: Part 1

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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