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| Forecasting
Items with Long Lead Times |
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A
demand forecast is a prediction of the amount of each product that
will be sold, transferred, used in kitting and assembly, or otherwise
consumed in the future. It's easy to see that inaccurate forecasts
can cause major problems for companies. When forecasted demand is
far below actual demand for a product, you risk running out of products
and disappointing your customers. If forecasted demand exceeds actual
usage, you are likely to be faced with large quantities of dead or
slow-moving inventory. For your company to be successful, your demand
forecasts for products must be as accurate as possible. |
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| Supply
Chain Management : Glossary of Terms |
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The
document conatins some of the terms, acronyms, and abbreviations related
to IMS (Inventory Management Systems and WMS (Warehouse Management
Systems). The definitions may differ from site to site and country
to country. |
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| Supply
Chain Management : Sporadic and Seasonal Demand Items |
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It
is no secret that an accurate forecast of the future demand of a product
is crucial in achieving the four "rights" of effective inventory
management: that is, getting the right quantity of the right item
to the right location at the right time. Products with different patterns
of usage require different forecasting methods. The forecast for items
with recurring usage is usually based on four elements. |
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| Supply
Chain Management : Warehouse Management Systems |
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The
evolution of Warehouse Management Systems (WMS) is very similar to
the evolution of many other software solutions. Initially a system
to control movement and storage of materials within a warehouse, the
role of WMS is expanding to include light manufacturing, transportation
management, order management, and complete accounting systems. |
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| Supply
Chain Management : Measuring Supplier Performance |
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It
may come as a surprise that most companies judge a supplier's performance
on relationships and subjective experiences. Few companies have any
objective measurements to ensure a supplier is helping one achieve
the goal of effective inventory management. |
