Collaborative planning, forecasting and replenishment (CPFR) has to involve both suppliers upstream and customers downstream, says Noha Samara, senior director analyst with Gartner.

As retail operations become increasingly complex, the need arises for serialized data capture. That’s where tools like the 2D barcode and radio frequency identification come into play.

In a time of extreme unpredictability, companies need to centralize inventory control. It’s imperative to drive agile decision-making by consolidating data across the network, employing advanced analytics, and enabling real-time visibility. 

Over the last decade, the world has changed dramatically for manufacturers. But so has technology, with a host of new tools for streamlining operations, automating tasks and saving on costs.

Like it or not, spreadsheets are still the go-to planning software in the supply chain industry. 

Tracking inventory solely within the four walls of a warehouse isn’t enough to stop shrinkage, says Eddie Misicka, vice president of product and solutions at OneRail.

A study by the IHL Group found that retailers miss out on nearly $1 trillion in sales per year because of out-of-stock items.

Supply chain disruption continues to be a challenge for retailers across the globe. Nevertheless, there are some proactive measures that retailers can take to mitigate risk.

Inventory distortion isn't just a problem for supply chain teams; it results in missed sales, dissatisfied customers, excess wastage and capital tied up in stocks.