Discrepancies between inventory records and what’s actually available on store shelves and in warehouses are all too common. Retailers end up with “phantom inventory.”
As we’ve seen over the last few years, planning and forecasting alone haven’t been enough to deal with the delays and shortages rippling through global supply chains.
Growing uncertainties in global supply chains necessitate a fresh approach to inventory strategy, says Warren Owen, vice president solutions consultants with Netstock.
With proper human oversight, NLP can reduce supply chain challenges even before they occur, thus potentially saving companies substantial time and money.
The FAST PASS Act would mandate the secretary of transportation to study how critical cargo can be expedited in emergencies like hurricanes and pandemics.
The latest news, analysis, trends and solutions regarding inventory planning and optimization and its impact on supply chain management. New technologies in inventory planning and optimization are transforming the way companies operate - and allowing them to stay ahead of the competition in their industries. As these solutions continue to evolve, businesses are discovering new ways to increase efficiency and cut costs. Learn how companies around the world are using inventory planning solutions for supply chain optimization.
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