Vendor or supplier integrity is crucial for a supply chain’s overall effectiveness and success. The relationship between a company and its suppliers is a key component of supply chain management, and supplier integrity plays a significant role in ensuring smooth operations. …

Market dynamics play a crucial role in the accuracy of demand forecasting. Changes in the market environment can significantly impact consumer behavior, and if these changes are not adequately captured in the forecasting models, it can lead to inaccurate predictions. Ways in which market dynamics can contribute to poor forecasting: 1…

Inventory control is how an organization can maximize profits with minimum inventory investment without affecting customer demands in an economical way. It involves looking at one’s stock and maintaining accurate stock levels. …

What is CPG? CPG’s full form is Consumer packaged goods; these are items that people buy regularly, such as apparel, cosmetics, and other household items. These items have a short shelf life and are designed to be used as soon as possible after purchase. Every consumer packaged good (CPG) company…

A demand forecast is a prediction of future demand, typically based on a combination of historical data, estimates of future sales activity, marketing actions, customer habits (think shopping holidays like Black Friday and Christmas), and even the weather. …

Material Management (MM) One of the key components of SAP ERP software is the SAP MM (Material Management) application module, which supports the inventory and procurement processes involved in regular corporate operations. The MM module includes a wide range of features, including purchasing, receiving items, storing materials, consumption-based planning, and…

Purchase Requisitions A purchase requisition is a document that requests a purchase to be made. A purchase request form or a purchase requisition form is often the first step in the purchase requisition process. The party wishing to make the purchase creates this form, which is then submitted to the…

What is it, the entire world is facing right now? Is it a pandemic, or the exposed improper healthcare system of all states, or bad government policies, or people’s carelessness? What is this inevitable situation that everyone is in right now? It is everything of the above included in a…

** Disclaimer: I don’t mean to hurt any religious sentiments. Nor I am commenting anything on any specific religious belief. I believe in all religions and above all, humanity. Does God exist? A standard question which has been asked by many people since ages. Lot of theories exist in and…