With customers racing to buy everything from turkeys to the latest toys, did you see a welcome spike in sales in the run-up to the festive season? It is a busy time of year and we know that Christmas can also bring unwanted gifts in the form of unhappy staff, dissatisfied customers, frustrated suppliers, and increased costs if you aren’t well-prepared. Utilising an effective forecasting and inventory management system can help you to mitigate these risks. But can you rise to the challenge and implement one in time for this year’s busy festive season? Continue reading “The Reflex Christmas 2020 Challenge: Can You Implement A Forecasting Solution In Time?! (Hint: We Can!)”
As market conditions change rapidly, and businesses across all sectors face instability and a challenge from competitors, demand forecasting software has an increasingly important role to play in securing their future.
Launching a product can be a nerve-wracking process. After all, you can’t guarantee that your new goods will sell. Ensuring that your product is ready in time for Christmas can be particularly challenging, as it’s such a busy time of year. How can using our innovation management software help you to achieve your goal? Continue reading “How To Successfully Launch A Product In Time For Christmas 2020”
If you’re struggling to achieve your business goals, it’s time to do something about it – and, by acting now, you can get 2021 off to a fantastic start. One of the most important steps that you can take is to invest in high-end inventory management and stock forecasting software. It can help you to: Continue reading “Make Missing Your Annual Targets A Thing Of The Past – Get Ready For 2021”
The global Coronavirus pandemic that emerged in January 2020 has cratered demand worldwide for essential and luxury goods, services, and trade-able items.
As a dreaded ‘Black Swan’ event, COVID-19 has meant that many industries have had to scrap and revise years of demand projections. The Bank of England now predicts a contraction of c.-13% by Q4 2020, the worst yearly recession on record since 1706 and the worst ever recorded in real terms (FT, 7th May 2020).
The COVID-19 outbreak that has paralyzed the UK has had tragic, damaging consequences for almost everyone alive today. However, it is also a rare, positive opportunity to learn and gather new information about behavior during an exceptional time.
Learning lessons from COVID-19 allows us to become far more resilient and better prepared for the next ‘Black Swan’ event that hits us as a society. Strengthening supply chains means that people as a whole are better protected from psychological, economic, and health shocks such as COVID-19. Excellent forward planning can help preserve businesses and open up opportunities for growth in challenging times.
Maximising efficiency in production is the key to maximising efficiency in your business as a whole. Reflex Planning’s software allows you to model and compare a variety of scenarios to see clearly how specific changes will affect your supply chain. The cost-effective modular packages let you maintain minimal obsolescence and avoid common problems such as stock-outs. Continue reading “Reflex Planning: A Reliable Forecasting Method For Effective Production Planning”
Demand forecasting can play a key role in the success or failure of your business by helping you to produce – and stick to – your annual budget. Therefore, it’s crucial that you’re using the correct tools for the job. Invest in our demand planning and forecasting software now and you could make 2020/21 a year to remember. You’ll be in a position to: Continue reading “Preparing Your Annual Budget – Why Now Is The Time To Invest In A Forecasting Solution To Make 2020/21 Your Best Year Yet!”
Halloween is becoming a bigger deal in the UK every year, so maybe you experienced a significant sales peak as the autumn nights drew in last year. Did you perform as well as you wanted to? If you don’t want your customers or your bank manager to be horrified at your performance, you’ll need to be prepared. How can you make sure that you’re ready for this Halloween in 2020? Continue reading “How To Plan Your Stock For Halloween – Don’t Give Your Customers A Fright!”
Demand forecasting can be summed up in a single word: knowledge. Knowledge of what has happened, what is happening, and what will be happening further down the road. This is achieved using advanced algorithms that analyse data flows in order to create a comprehensive picture of business performance. Here are five ways that demand forecasting can improve your profit in 2020. Continue reading “5 Ways Demand Forecasting Can Improve Profitability”