Supply Chain In 3 Minutes
BACK TO LOKAD TV ›
Supply Chain Triangle in 3 minutes
The supply chain triangle refers to the correlation between cost, cast and service in a supply chain. A business provides its customers with a certain type of service that requires both cash to produce and deliver and has a cost associated with it.
Prioritized ordering in 3 minutes
Supply chain literature most often focuses on ordering policies where each separate item is treated in complete isolation to all the other items. the decision to order more units of item A is strictly independent from the decision to order more units of item B. In contrast, the prioritized ordering policy emphasizes multi-item decisions, where each item competes for capital allocation with all the other items.
Micro fullfilment in 3 minutes
Micro fulfillment is a strategy used by retailers to improve the efficiency of the e-commerce order-fulfillment process. The objective is to stock the fast-moving SKUs in multiple small storage facilities situated close to the end customer.
Odd pricing in 3 minutes
Odd pricing is a pricing method aimed at maximizing profit by making micro-adjustments in pricing structure, relying on the assumption that consumers are calculation-averse and will only read the first digits of a price.
Co-packing in 3 minutes
Co-packing is the process of packing products together to create a shelf-ready product for the retailer to sell.Services from specialized co-packing providers can be quite extensive, from designing the packaging (whether that be blister packs, shrink wrapping, liquid dispensing packaging, etc.), to laminating, folding flyers, printing and attaching labels or barcodes to products, dry/liquid filling, or kitting.
EOQ (Economic Order Quantity) in 3 minutes
The economic order quantity is essentially a trade-off between the ordering cost and inventory holding cost. If the company’s ordering costs or product demand increases, the order quantity increases. Similarly, if the holding cost increases, the order quantity decreases.
KPI (key performance indicator) in 3 minutes
KPIs stands for Key Performance Indicators and are extensively used in supply chain management to measure how a business is performing in a specific area to indicate how effectively the company is achieving its business targets.
Stockouts in 3 minutes
A stockout happens when the inventory is exhausted. Stockouts are usually treated as problems to be fixed, and many inventory methods, such as safety stocks, have been devised to control the frequency associated with those events.
Styling Prices for Retail in 3 minutes
Better price tag design can significantly manipulate demand to increase the company’s profit. The price should be displayed in small size, on the bottom left of the label for best results as that makes the price seem as small as possible to the consumer.
Competitive pricing in 3 minutes
A competitive pricing strategy focuses on matching your price with your competitors based on the assumption that the market has already defined the right price for a product.
Pricing strategies in 3 minutes
Prices represent a trade-off between short-term and long-term strategies, profitability and market share as well as levels of cash flow. A company sets its prices with different objectives in mind, such as profitability, cash flow or growth.
Retail Channel Promotions in 3 minutes
A promotion is an activity where a type of marketing communication is used to inform a target audience of a particular product or service, for example that it now has a discounted price. Companies engage in promotions to boost sales and revenue, but also to disrupt customer behavior in their favor. When a company runs a promotion, communication must put that forward to the target audience to ensure the desired uplift in demand for that product or their store.