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Capability 1: Demand Forecasting and Planning Accurate demand forecasting allows a business to optimize inventory levels, reduce costs, and improve its overall customer satisfaction. It means theres always the correct amount of stock available to meet customer demands, without the risk of overstocking.
Artificial Intelligence (AI) is transforming supply chain management, enabling companies to adapt more effectively to market demands, streamline operations, and enhance visibility across the entire supply chain. Businesses are turning to AI to help solve long-standing inefficiencies and optimize workflows.
Retail & E-commerce Retailers struggle with seasonal demand spikes that coincide with Amazon restock limits, creating inventory planning dilemmas. Meanwhile, FBA storage overage fees penalize merchants who overcompensate for unpredictable demand, making inventory turnover ratio calculations increasingly critical for profitability.
It typically covers key supply chain areas including procurement , logistics, demand forecasting , and much more. Supply Planning Supply planning is the critical function concerned with effectively fulfilling and managing customer supply and demand.
If any link in the chain becomes broken, disjointed, or inefficient, the business becomes less likely to keep up with customer demand. Direct material management involves demand forecasting, inventory control, and warehouse operations. Tools and methods used include real-time tracking, RFID, and AI-driven routeoptimization.
It covers major supply chain processes such as managing supply and demand, warehousing, inventory control, transportation, and routeoptimization. It emphasizes the importance of applying a scientific method, including experimentation, observation, and constant questioning, to achieve excellence in demand forecasting.
Routeoptimization and planning: Check if the technology offers advanced algorithms for routeoptimization and planning. Efficient routing can help reduce delivery time, and fuel costs, and improve overall productivity. Such features enhance transparency and improve customer satisfaction.
Effective inventory management also includes demandplanning, safety stock management, and order processing optimization. Leveraging technology solutions like routeoptimization software can help streamline shipping processes.
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