Last updated on
2024年10月1日
Struggling to balance excess inventory and fluctuating demand in manufacturing?
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Curious how to tackle inventory dilemmas? Share your strategies for managing stock and demand in manufacturing.
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Manufacturing companies facing excess inventory amid fluctuating demand can improve management through the integration of predictive analytics and dynamic pricing. Machine learning models can accurately predict short-term demand changes by analyzing macroeconomic data, customer behavior, and seasonality. Flexible supplier contracts that allow for variable supply volumes are critical for liquidity. Using a just-in-time approach with elements of digital automation reduces the risk of inventory accumulation, while channel differentiation can compensate for sudden fluctuations in traditional supply chains.
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Working for a distributor for many years has taught me that manufacturing companies need to rely more on their vendors to help them with their inventory. A good vendor will create a program for the company where the manufacturer can limit on hand inventory but also have quick delivery for fluctuating demand. getting in touch with your vendor base is key and having a conversation where you can work together as a partnership to keep both business' in the black and prevent costly excess inventory issues. Both parties must be willing to share information so that neither side it stuck with excess stock.
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Balancing excess inventory with unpredictable demand is always a challenge. What’s worked for me is using more accurate demand forecasting and adopting just-in-time inventory practices. It reduces waste and keeps things flexible when demand shifts. Plus, having strong relationships with suppliers makes a big difference when you need to adjust quickly.