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The Inventory Mentor

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I have an ABC analysis. Now what?

In our previous blog posts, we looked why you should classify your products into ABC and how exactly to do that. So now that you’ve learned more about the benefits of classification, the next logical... Read More

Seven reasons why stock-outs are hurting your profitability

Are you aware of how lost sales impact the profitability of your business? Is this issue apparent to the whole team? Your profitability is influenced by more than just the very obvious loss of the... Read More

My forecasting formula keeps getting it wrong

We often meet inventory planners who have tried other inventory technologies and forecast engines. Despite the bold claims these other applications tout, many planners have found them to be unhelpful and even downright incorrect. Given... Read More

The five advantages of an effective ABC analysis

In the previous post in this series, we showed you what you can do with an effective ABC analysis. In this post, we will show you the five most important advantages of using a good... Read More

What your customers go through when you stock-out

The general rule of thumb is gaining a new customer is more expensive than keeping an existing customer. Losing a customer hurts sales today while shrinking the company’s growth potential going forward. A customer’s expectations... Read More

What is a stock-out, and what happens when it occurs?

Stock-outs are commonly reported as the biggest single concern to businesses that supply customers with stock. Every time a customer requests to buy a product that’s stocked-out, there’s a good chance they’ll end up unhappy... Read More

The Internet is killing my business

The traditional supply chain setup 20 years ago was so much easier to understand. Businesses had connections that supplied goods and they had customers that wanted to buy their stuff. The main duty of inventory... Read More

How to create an effective ABC analysis

In an earlier post, we discovered that doing an ABC analysis on your inventory is probably a good idea. Not only will you be able to focus your energy on the items that have the... Read More

The evolution of your inventory planning solution

We regularly meet inventory planners who have created their own solution for inventory planning in their business. Most commonly, planners use some combination of data extracts, spreadsheets, and a form of calculations or pivots. These... Read More

Does your ERP handle inventory planning?

When talking inventory planning, we often get some version of this basic question: “Doesn’t my ERP handle my inventory?” Since it’s a common concern, let’s take a look a typical ERP set up for a... Read More