We all know that different products sell at different rates, depending on the need that they address. The challenge is to be able to meet demand without incurring costs due to over-stocking. With operating profits under considerable pressure, retailers need more precise demand forecasting and stock replenishment to reduce inventory costs and still have the right product available to meet customer needs.
Predictive Replenishment is an advanced process that retailers are integrating into their Supply Chain planning management by bringing together powerful multi-channel knowledge for increased revenue and profit by integrating and synchronising the following functions:
- Strategic: To adapt and link product flows to downstream processes.
- Tactical: Demand Sensing and Inventory Optimisation that predicts customer requirements based on market-driven demand signals and POS data.
- Operational: order fulfilment and transportation planning that can create perfect orders and shipments.
These functions contribute to overall supply chain planning and optimisation. However, they are often managed in silos with a lack of visibility cross-function and this compromises the efficiency of Supply Chain processes. There are numerous benefits of Predictive Replenishment.
Predictive Replenishment builds proficiency in both technical and business process.It also accelerates business performance, helping to understand and leverage data.
This tool is an opportunity you can't afford to miss!
Contact us to learn how we you can optimise your supply chain with predictive replenishment.