1) Demand Forecasting: Analyze historical data and market trends to accurately predict demand. 2) Supplier Communication: Establish strong communication channels with new suppliers to understand their capabilities, lead times, and potential issues. 3) Safety Stock: Maintain a safety stock to buffer against variability in supply and demand. 4) Calculate the appropriate levels based on lead time and demand variability. 5) Just-in-Time (JIT) Inventory: Consider JIT practices to reduce holding costs while ensuring you have enough stock to meet demand. 6) Supplier Performance Monitoring: Regularly assess new suppliers on criteria such as delivery times, quality, and responsiveness. 7) Diversification: Avoid reliance on a single supplier.

There must be always a clear and transparent communication, mainly for future requirements. In the development phase, which never ends, you need to include clear expectations and inventory settlements, your new source must be aware that they have to follow your supplier quality manual and that a monthly performance is deployed and responses expected in case deviations for the score. Usually for new sources you monitor consistently their performance, and mainly if they are servicing a new project, either way ensure that suppliers meets 100% run at rate, for which they need to demonstrate their capability include their other businesses, this is a probatory document that guarantees preventative measures going forward.

To address this challenge, it is essential to cultivate an understanding within your team that suppliers are integral partners in your organization. Their success directly contributes to your own. Key steps to implement include: - Enhance the accuracy of your demand forecasts, share it with suppliers with all transparency and keep them posted on every single change in the forecast. - Provide training on effectively utilizing these forecasts to align production and inventory levels. - Encourage your buyers to work closely with suppliers to analyze and establish optimal safety stock levels at their facilities ((Your buyer should be capable of doing it ;)).

1. Implement Just-In-Time (JIT) Inventory: Work closely with new suppliers to synchronize deliveries with production schedules, reducing inventory holding costs. 2. Supplier Collaboration: Establish clear communication channels and performance metrics with suppliers to improve reliability and response times. 3. Use Inventory Management Software: Integrate advanced forecasting tools to predict demand more accurately and adjust orders accordingly to prevent overstock or stockouts.

As a garments merchandiser in Bangladesh, to tackle inventory challenges with new suppliers, I will keep a close eye on the supply chain, regularly communicate with suppliers about delivery times, and use inventory management software to track stock levels. This will help me make sure we always have the right amount of clothing ready for orders without overstocking or running out. Regularly reviewing sales data will also guide future orders, ensuring we meet customer demand effectively.