Supply Chain In 3 Minutes
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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.
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.
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.
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.
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.
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.
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.
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.
Time Series for Supply Chain in 3 minutes
Time series are one of the most basic and versatile mathematical tools used in business to support statistical models and consist of a series of data points linked to a particular point in time. Time series are frequently used to model anything from the evolution of a company’s sales, product prices and lead times on a yearly, monthly, daily or even hourly basis.
FMCG (Fast Moving Consumer Goods) Supply Chain in 3 minutes
The FMCG industry is one of the oldest in our civilization. Packaging and processing technologies have continuously been evolving, but other supply chain practices such as optimizing recipe composition, are still managed through trial and error at best.