Inventory management stockouts of large companies are usually stories that grab headlines quickly. Here are three cases of inventory management failures, what went wrong, and what you can do to avoid the same errors. Best Buy In December 2011, Best Buy issued a statement: “Due to overwhelming demand of hot product offerings on during the November and December time period, we have encountered a situation that has affected redemption of some of our customers’ online orders. We are very sorry for the inconvenience this has caused, and we have notified the affected customers.” Best Buy’s failure to manage its inventory
Hello again everybody, I hope you’re all as excited for World Lizard day tomorrow as we are. (Also shout out to all the left-hander’s on world left-handers day today :)) As promised here’s this fortnight’s rundown of what’s new in your TradeGecko system. 1. Column Selector One of our most common requests has been to ask for is an extra column here and there on the index pages. Instead of us deciding for you, we’ve added the new column selector to let you choose what details are most important to you. You can now pick and choose columns that show up
Fashion isn’t just all about dressing up and H&M’s supply chain procedures are a testament to that. Globally recognised for being a successful and expansive retail giant in terms of market and financial prosperity, H&M’s supply chain strategy is a continuous search for promising markets, cost-efficiency in production of goods, and reduction in lead times for their retail inventory. H&M, which ranks number three on Gartner’s Supply Chain Top 15, is the world’s second-largest clothing retailer. This is certainly no easy feat for a company that has 950 stores in 19 countries, AND raked in a whopping turnover of 14.6
Following Kellogg’s recent plan to optimize its supply chain infrastructure as part of a four-year plan to save up to $475 million a year by 2018, let’s review and look at how they’ve been handling supply chain issues ever since they started. Similar to what we’ve learnt from exploring the business processes of retail giants such as IKEA and Walmart, we can definitely draw a few important lessons from Kellogg’s supply chain and inventory management. Kellogg’s: An Introduction Kellogg’s is one of the leading companies in providing food items (especially breakfast items and convenience food) to its customers located worldwide.
In addition to our constantly updated changelog we’re going to start posting product updates here every fortnight (or so) to help TradeGecko users like yourself keep a finger on the pulse of the system. This week, we have a couple of doozies: 1. TradeGecko – Magento Integration Inventory management has now been solved for Magento users – this week we rolled out an integration with the popular open-source e-Commerce platform. The TradeGecko – Magento integration seamlessly connects your Magento sales and product information with your TradeGecko orders and inventory. We’ll automatically update your inventory and stock levels whenever a customer places
We had an amazing time at the Shopify Asia E-Commerce Festival that was held from 19 to 27 June 2014 in sunny Singapore. Its aim was to share how businesses can experience growth by venturing into the e-Commerce realm through a number of conferences and workshops. As a key partner of Shopify, we held a ‘Teach Up’ (workshop) on effective inventory management – where we shared some of our expertise and experience with a large group of the festival’s attendees. And we’re glad to share that feedback has been that these were some really engaging, fruitful insights on the importance
Baby Hero is a socially responsible children’s clothing company that was launched seven months ago. It sells organic fair trade baby clothes made with fair labour. On top of that, for every item sold, it donates a neonatal survival kit to developing countries to help mothers and babies survive childbirth and their first month of life. Wow, sounds very impressive, isn’t it? Let’s start from the beginning. A Little Background Alicia and Samar co-founded Baby Hero because they were very much inspired by their own births and experiences with motherhood. After going through very difficult births themselves, they became more
Tierra Blanca is a family-run microbrewery, founded by Jorge Darío and his father. With his father in charge of the beer production and creation of different beer recipes, Jorge oversees the marketing and branding of products. Producing Beers They Can Be Proud Of You may not know this, but Mexico is currently the sixth biggest beer market in the world. So far, only big industrial companies have been producing all the beer consumed in Mexico but the country has been going through a wave of beer revolution recently; there has been an explosion in the growth of microbreweries during the
A quick look at Google Trends reveals that WooCommerce has been garnering exponential popularity over the last three years. Certainly, it’s no doubt that WooCommerce has been one of the most popular go-to platforms for aspiring entrepreneurs for a long time. Because honestly, what better way is there to curate an online shop for your esteemed product than by utilising one of the most resilient and prolific Content Management Systems out there on the WWW – WordPress! Users who already own a WordPress site can very simply set up a web store to call their own with just a click or
Bruce Brown, partner of American Bedding Solutions, was your usual mattress retailer with four regular retail stores in Michigan, USA, until he had a defining chat with a non-profit organization. That organization was purchasing mattresses from him for their refugee resettlement programme because every time they brought people in from another country, they had to provide them with beds. The Birth Of An Innovative Idea Well, how non-profit organisations in the US work is that they operate thrift stores, where donated items are put up for sale, to generate money for the programme or charity. So Bruce told the organization,