Supply Chain In 3 Minutes


Oct 5, 2022

Odd pricing in 3 minutes

Odd pricing is a pricing method aimed at maximizing profit by making micro-adjustments in pricing structure, relying on the assumption that consumers are calculation-averse and will only read the first digits of a price.

Aug 17, 2022

Co-packing in 3 minutes

Co-packing is the process of packing products together to create a shelf-ready product for the retailer to sell.Services from specialized co-packing providers can be quite extensive, from designing the packaging (whether that be blister packs, shrink wrapping, liquid dispensing packaging, etc.), to laminating, folding flyers, printing and attaching labels or barcodes to products, dry/liquid filling, or kitting.

Jul 20, 2022

EOQ (Economic Order Quantity) in 3 minutes

The economic order quantity is essentially a trade-off between the ordering cost and inventory holding cost. If the company’s ordering costs or product demand increases, the order quantity increases. Similarly, if the holding cost increases, the order quantity decreases.

Jun 22, 2022

KPI (key performance indicator) in 3 minutes

KPIs stands for Key Performance Indicators and are extensively used in supply chain management to measure how a business is performing in a specific area to indicate how effectively the company is achieving its business targets.

Jun 15, 2022

Stockouts in 3 minutes

A stockout happens when the inventory is exhausted. Stockouts are usually treated as problems to be fixed, and many inventory methods, such as safety stocks, have been devised to control the frequency associated with those events.

Jun 8, 2022

Styling Prices for Retail in 3 minutes

Better price tag design can significantly manipulate demand to increase the company’s profit. The price should be displayed in small size, on the bottom left of the label for best results as that makes the price seem as small as possible to the consumer.

May 25, 2022

Competitive pricing in 3 minutes

A competitive pricing strategy focuses on matching your price with your competitors based on the assumption that the market has already defined the right price for a product.

May 18, 2022

Pricing strategies in 3 minutes

Prices represent a trade-off between short-term and long-term strategies, profitability and market share as well as levels of cash flow. A company sets its prices with different objectives in mind, such as profitability, cash flow or growth.

May 4, 2022

Retail Channel Promotions in 3 minutes

A promotion is an activity where a type of marketing communication is used to inform a target audience of a particular product or service, for example that it now has a discounted price. Companies engage in promotions to boost sales and revenue, but also to disrupt customer behavior in their favor. When a company runs a promotion, communication must put that forward to the target audience to ensure the desired uplift in demand for that product or their store.

Apr 27, 2022

Lean Supply Chains in 3 minutes

What does it mean for a supply chain to be lean? In manufacturing, lean describes the method that maximizes productivity while simultaneously minimizing waste. A lean Supply Chain also aims to eliminate waste through better inventory control and streamlining all supply chain processes, although supply chains are by nature very complex and frequently see conflicting incentives and points of view.

Apr 13, 2022

Shipping Containers in 3 minutes

The global use of containers for transportation has resulted in major cost reductions, boosting supply chain efficiency. One of the container’s key advantages is its global ‘Standardization’ of its dimensions regardless of location. Cargo is shipped in containers that are either exactly the same or a multiple of the standard unit of size.

Mar 16, 2022

Cross-docking in 3 minutes

Cross-docking, is a logistics method of having goods enter and exit the facility without ever being put in storage. Whilst this method removes loading and pick up operations from warehousing staff, it does so at the expense of the flexibility offered by having the goods stored at the warehouse. Not holding stock certainly comes with many attractive advantages, but also drawbacks such as worse deals with suppliers and a reduction of service to the customers.