Artificial intelligence (AI) is an area of computer science that emphasizes the creation of intelligent machines that work and react like humans. Some of the activities computers with artificial intelligence are designed for include: Speech recognition. Recently voted one of the 20 most innovative companies to watch in 2019, Algo is here to make sure you are ready for the AI revolution that is coming to a business near you. ARE YOU READY? In this episode, Amjad Hussain, CEO of Algo joins me to talk about how they got started and why they are working with companies to help them get ready for t ..read more

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Today, data is becoming one of the most valuable assets for many enterprises. From Manufacturing to IT, every industry is trying to find ways to become more data-driven and optimize their operations. The supply chain arena is no different, with most practitioners thinking about how to use data and quantitative methods to improve decision making across all levels of the supply chain. However, the sheer quantity of data is exceeding the analyzing capabilities of many organizations. As a result, many supply chain professionals are struggling to collect, clean, and manage the right data across th ..read more

Whether you are a retailer, manufacturer, dealer, wholesaler, or distributor, inventory management is a crucial part of your operations. Issues with inventory can make or break the business. Without proper inventory management, it is very difficult for companies to maintain control and handle the needs of customers. Proper management of the supply chain, inflow and outflow allow the business to thrive in today’s competitive environment. While inventory management has always been a critical part of any business, it has become more valuable over the past decade as consumer expectations and s ..read more

With the quickening pace of business and consumer expectations for immediate gratification, it’s not enough to conduct inventory controls every month, week or even day. While they’re indispensable, they’re not going to help your company reduce costs and increase revenue, but real-time inventory management just might! What is Real-Time Inventory Management? Real-time inventory management is a way of keeping a constant up to date record of your inventory. It’s especially useful if you have an online store or e-commerce, and can also be referred to as perpetual inventory. Why Is it So I ..read more

When you have to manage inventory at a large scale in multiple markets it may seem like a daunting task. However, we’ve pulled together some of today’s best practices to bring you 10 tips for effective inventory management for a global business. Let’s take a look! Tip #1: Coordinate Efforts with Other Departments Coordinate your inventory management efforts with other relevant departments in your company, instead of just focusing on inventory as a standalone category. Understanding how and when marketing and sales are approaching new products will help you schedule new deliv ..read more

Camcode, a worldwide manufacturer of bar code labels, recently reached out to Amjad to be part of their panel of Inventory Management Experts and asked him to pitch in on advice for warehouses looking to save money. It may not come as a surprise that Amjad points to data analytics as a powerful factor in optimizing inventory to save money: “Prescriptive Analytics is the most powerful tool in optimizing inventory…” The explosion in the availability and accessibility of data is creating new opportunities for better decision making in applications of inventory control. Prescriptive analyti ..read more

Fully understanding the data behind your inventory management practices is essential to running an efficient and modern supply chain operation. Across every touch point, data provides actionable intelligence that can help any supply chain provider reduce costs, streamline operations, and maximize potential. If you want to set up your supply chain for success, follow these four easy steps to start maximizing your network’s potential. 1. Develop an Implementation Strategy Getting the most out of your supply chain operations begins with a carefully implemented optimization strategy. Like no ..read more

Marie Kondo’s Life-Changing Magic of Tidying Up has inspired people around the world to methodically arrange their homes through her highly particular and peculiar method of organization. Focused only on keeping things that “spark joy” and purging all other types of clutter, Kondo’s KonMari organizational strategies turn overstuffed closets and garages into neatly curated spaces that only contain items that are strictly necessary.  These principles aren’t just useful for the home: If you’re tasked with finding new ways of optimizing your supply chain operations, understanding what’s valuabl ..read more

Inventory management is no longer a matter of guesswork. Thanks to machine learning and prescriptive analytics techniques, better decision-making in operations management makes it easier to predict demand for inventory based on a variety of different factors. With help from all kinds of data, inventory management decisions can be made correctly and successfully to create a competitive edge. For a retail store, that data can be used to predict and prescribe optimal stock levels — even for products that have no prior sales history. Whether it’s a seasonal product, a new release or an ite ..read more