June 29, 2023 | Cost Management read
Retail pricing strategies are a must for driving sales of products and for maximizing profits. Understanding the importance of retail pricing strategy is critical as it directly influences customer behavior which in turn affects profitability and revenue. It’s therefore essential to strike a balance between competitive pricing and maintaining profit margins to sustain a business successfully.
Let’s explore the key strategies that can help enterprises understand the retail pricing landscape and gain a competitive edge in the industry.
June 29, 2023 | Supply Chain Strategy read
85% of executives believe that higher interest rates will lower consumer demand and impact revenues, according to a recent survey by Economist Impact.
Fifty-seven per cent believe this fall will impact revenues by up to 5%, with an additional 20% of respondents forecasting a revenue drop between 6-10%.
A further 7% believe their revenue will fall by 11-15%. Only 15% of respondents believe there will be no impact on their revenue forecasts in 2023.
June 19, 2023 | Supply Chain Strategy read
When staying competitive is key to survival and growth in a fast-paced business environment, just-in-time (JIT) inventory management acts as a powerful strategy to optimize inventory levels and reduce costs.
Implementing JIT could however be a formidable task without a proper plan and execution strategy, but there are ways to successfully implement JIT inventory management and at the same time avoid chaos and ensure smooth operations.
June 12, 2023 | Risk Management read
Effective management of third-party risks has emerged as a critical priority for organizations seeking to safeguard their operations and mitigate potential threats.
With businesses increasingly relying on external entities to fulfill various operational needs, ensuring the absence of risks associated with these third parties have become a complex and pressing task.
June 09, 2023 | Supply Chain Strategy read
Optimizing warehouse productivity in a competitive business landscape is critical to supply chain success — more so when the ability to efficiently manage inventory, streamline processes, and meet customer demands can significantly impact an enterprise’s bottom line.
This blog discusses the strategies and best practices to enhance warehouse productivity and maximize operational efficiency.
June 01, 2023 | Supply Chain Strategy read
May 25, 2023 | Sourcing Strategy read
Mechanical equipment sourcing and mechanical equipment supply chain management are critical components of industrial operations. Navigating the sourcing and supply chain aspects of mechanical equipment requires a deep understanding of the industry and the industry-specific strategic approach to procurement. A wide range of products — including pumps, motors, compressors, and generators, used in various industries such as manufacturing, construction, and energy — classify as mechanical equipment.
May 22, 2023 | Procurement Strategy read
Engineering, procurement, and construction (EPC) procurement is a critical aspect of large-scale construction projects. From oil refineries and chemical plants to power stations and infrastructure projects, EPC procurement involves the sourcing and management of materials, equipment, and services required for the construction and commissioning of major projects.
