14th September 2021

The 7 Keys To Accurate Demand Forecasts

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Accurate demand forecasts are invaluable for efficient sales, marketing, and distribution strategies. Reliable predictions of future customer behaviour allow you to manage production capacity, supply chains and human resources without waste. Customers also benefit from adequate availability of their desired products. What’s more, accurate forecasts can optimise budgets by giving greater foresight for spending plans.

Nobody can see directly into the future. However, advanced analytics, as well as real-time monitoring of sales data, stock movements and marketing initiatives, can provide excellent insights into upcoming customer trends. Accurate forecasting can be broken into the following seven key steps: Continue reading “The 7 Keys To Accurate Demand Forecasts”

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07th September 2021

What Is Statistical Forecasting? A Guide For Small Businesses

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Do you ever wish that you could see what’s around the corner? In the world of business, being prepared can make all the difference. Thankfully, software innovations are revolutionising the way that companies can ready themselves for the future. Here’s what you need to know about statistical forecasting.

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05th August 2021

Are We In or Are We Out? How To Forecast Demand During Lockdown Uncertainty

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Running a successful business demands careful planning to balance projected income against expenditure. By forecasting uptake for products and services in various demand scenarios, you can learn about how your customers interact with your brand and how you can work with their needs to grow your business along the way.

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16th July 2021

How To Adapt Demand Forecasting Strategies To The ‘New Normal’

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One effect of Covid-19 in high street retail and e-commerce has become apparent: a requirement for a transformation in the end-to-end supply chain, combined with a new approach to demand forecasting and planning. For a business to achieve its goals this year, more flexible, integrated solutions are needed.

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25th March 2021

Effectively Manage Your Restaurant’s Food Stock With Inventory Management Software

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As a restaurant, failing to anticipate a shortage of key ingredients can be costly in terms of profits, and embarrassing to your reputation. In an industry in which word-of-mouth recommendations and online reviews matter, both positive and negative diner experiences can spread like wildfire, directly affecting your footfall. Diners tend to offer loyalty to their favourite restaurant, too; a memorable experience encourages customers to return time after time. Diners can also be fastidious, with unavailable items on the menu a major cause of dissatisfaction.

 

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13th January 2021

Inventory Management Systems: How To Check You’re Not Paying Extra For Services You Don’t Need

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Bundle services are the oldest trick in the book. Pay for what you need, and then pay a little more for things that you might need down the line, and all too quickly a business is paying for services that it doesn’t need at all. Thankfully, ethical companies are making their mark in the software sector.

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12th January 2021

Inventory Management Software – Find A Scalable & Flexible Solution That Will Grow With Your Business!

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Are you a small business owner wondering about how to make the most of precious investment capital? Are scalability and flexibility at the top of your list of needs? Finding an inventory management software solution that will grow with your business can take the pressure off whilst enhancing the process.

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29th December 2020

What Is Supply Chain Management Software Used For?

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Supply chain management is an advanced way of reducing costs, minimising wastage, and increasing organisational agility. Successful supply chain management leads to leaner inventories and satisfied end-users. Today, software is solving many of the problems that have traditionally plagued supply chains.

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22nd October 2020

Supply Chain Management For Spikes In Demand

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The recent COVID-19 crisis has highlighted how peaks in consumer demand can occur with little warning. With hand sanitiser, toilet roll, pasta and flour amongst the products that have disappeared from the shelves of the world’s supermarkets as a result of panic buying. But spikes in demand don’t only occur when a once-in-a-lifetime pandemic sweeps the globe. Manufacturers should be aware of the possibility for unexpected peaks and troughs to occur with little warning, as well as pressure on the supply chain, which is vulnerable to extremes of weather, celebrity endorsements and shortages of raw materials, among other factors. Ultimately, this is where supply chain management software can shine.

Like the species in a food chain, over-demand for a particular product can have a knock-on effect on other products. Panic buying for essentials, or anxiety about the economy, can dissuade people from purchasing ‘luxury’ items, leading to a fall in demand for items that ordinarily would prove popular. Thus, a spike in demand for only a few product lines can have significant effects on the entire supply chain.

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