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The Latest News and Thoughts from the RSI Team
Proven Success: How Right Sized Inventory can Save your Business Money
When your company is in the process of evaluating new partners, it's important to ensure they have a track record of success. Therefore, let us provide you just one of many examples of how we deliver value to our clients. Recently, Right Sized Inventory onboarded a new client. Within the first four weeks of rolling out our patented predictive analytics inventory optimization technology into their supply chain we were able to demonstrate $2M in savings. With that kind of ROI, you can be confident you're working with the right partner.
Lessons The Pandemic Taught The Supply Chain
As a planner, you know you need to learn from the past. This is so you can improve future planning and supply chains. One of the most useful things to learn from is customer demand data from previous COVID-19 waves. Does your inventory planning system allow you to use this demand data to run what-if scenarios? If not, you may want to consider another system.
The COVID-19 demand data collected from the initial waves of the virus gives us an opportunity to learn about key drivers of demand for specific product categories in specific location. We can learn where forecasts went wrong and use this information to improve future planning for the next waves of COVID-19 (e.g. Delta Variant). Any learnings can be used in future waves of COVID-19.
The Importance of Replenishment Lead Time Variation in Inventory Planning
Inventory planning is a vital process for companies that want to minimize risk and maximize profit. It can be difficult, however, to create an accurate inventory plan when there are so many variables in the equation. The complexity of inventory planning increases exponentially when replenishment lead time variation is not taken into account. In this blog post, we'll explore why replenishment lead time variation should be included in all inventory plans.
What does Elon Musk think about Supply Chain?
“The supply chain stuff is really tricky.” ~Elon Musk, CEO of Tesla and SpaceX
A concept that might be tricky, is something called the bullwhip effect.
Bullwhips are tools that are used to make animals move. They are used to create a small sonic boom and can be dangerous to the animal or anything in the way. A bullwhip has a large handle, with a tapered lash, that varies in length. Then at the very end of the whip is a popper. The handle is moved, and the physical waves move progressively faster when the whip is flicked until they end at the popper, which provides a loud popping sound, moves incredibly fast, and is quite dangerous.
Superhero Supply Chain: Put a Stop to Spreadsheets!
Imagine this: Superheroes created for the sole purpose of solving your problems with predictive analytics. The Superheroes have special powers in their belt that are designed to take apart and solve specific business problems, like inventory optimization…
Should You Hire & Fire Fast? Short Answer: NOPE!
Have any of you ever lived and breathed in a company where the motto was: hire and fire fast? I’m sure you have, and I’m positive you’ve experienced the downsides of the approach. We’ve all heard the common reasons for having to move fast in the hiring process.
Risk Mitigation with a Dual-Source Supply Base Data Modeling
Many new trends in sourcing include the new term Sure-Shoring. This means a supply chain may have multiple sources close to home and across the world. With all supply chains, there is potential for geo-political instability, natural disasters, or even a giant container ship blocking the Suez Canal to affect the day to day.
Schedule a Call
Find out if Right Sized Inventory is right for your business and inventory needs. Set up a call with one of our team and we’ll walk you through a demo, identify trouble spots in your business, and see how implementing RSI can transform your business through data-driven inventory optimization.