Toilet paper is perhaps the one phrase that sums up the pandemonium that was unleashed across several parts of the world when the COVID-19 pandemic first began to sweep across borders. Depending on where they were in the world, customers may associate another word with the supply chain disruption that characterized the pandemic in its … Uncategorized
Toilet paper is perhaps the one phrase that sums up the pandemonium that was unleashed across several parts of the world when the COVID-19 pandemic first began to sweep across borders. Depending on where they were in the world, customers may associate another word with the supply chain disruption that characterized the pandemic in its … 
Demand planning is the practice of forecasting the demand for a product or service so it can better serve customers. Having the right amount of inventory without incurring shortages or spending money on surplus inventory is at the heart of demand planning. While it may seem unrealistic to expect businesses to consistently match their supply … 
A data silo is a store of data maintained by one division or team and isolated from the rest of the company. The phrase has agricultural origins and refers to the ideal circumstance in which grain and grass in a field “silo” are shielded from the weather. Within a business unit, however, siloed data … 
In the early years of retail, assortment management was limited to a handful of variables. Mostly, the populace was relatively localized, with most people having similar roots and ideas and spending their whole lives in the same town. Local business owners, therefore, had a good idea of what their customers desired. Today, retailers run … 
What is driving the marketplace today? According to Gartner, CX drives over two-thirds of customer loyalty, which represents more than brand and price combined. 86% of consumers say they will leave a brand after as few as two poor experiences, while 65% of consumers find a positive experience with a brand to be more influential … 
A PwC poll revealed that over half of the respondents said their buying habits had become “more digital” as a result of the pandemic. In 2020, online shopping accounted for 19.6% of retail sales, up from 15.8% in 2019. As customers realized how quickly and easily they could buy what they wanted from their homes, … 
Demand forecasting is the practice of anticipating future customer demnd over a given period using historical data and other information. Or, to put it more simply, we can forecast future demand for a specific product by analyzing various market factors such as price changes, product designs, competition, advertising campaigns, consumer purchasing power, employment opportunities, population, … 
Data is the lifeblood of any successful business. It is fundamental to the way we run our personal and professional lives. Virtually every encounter generates data, be it software applications, social media links, mobile communications, or the growing numbers of digital services. Each of these encounters then generate even more data. It is estimated that … 
Every year, supply chain disruptions cost businesses an average of $200 million. The present world situation, be it the COVID-19 pandemic or the Suez Canal choking in 2021 to the ongoing political war, has exponentially increased the risks of these disruptions. Market volatility, supplier inconsistency due to political and geographical barriers around the world, COVID … 
A premium automobile manufacturer in the UK spent over $3 billion on product recalls due to malfunctioning braking systems, rearview cameras, airbags, and other minor issues. Another European luxury automobile maker’s previous three annual reports indicated it spent about nearly $7 billion recalling products for problems ranging from door locks to batteries, fuse boxes, fuel …