Demand Forecasting Techniques for Business Efficiency

Demand Forecasting Techniques for Business Efficiency | JEL

Demand Forecasting Overview: Demand forecasting is the act of anticipating the quantity of customers who may require certain products or services in the future, especially through analysis of previous records as well as observations made on the market. Demand forecasting is a crucial component of inventory management, supply chain management, cost control, and, customer satisfaction. […]

Role of Integrated Logistics for Maximizing Supply Chain Potential

Role of Integrated Logistics for Maximizing Supply Chain Potential | JEL

Integrated Logistics: Integrated logistics is the workflow where all the processes related to the materials’ delivery, order receiving, or risk management occur with the help of new technologies and data analysis. This ideal approach also promotes effective communication and documentation of the entire supply chain process hence cutting costs while at the same time increasing […]

Logistics and Its Types – A Comprehensive Guide

Logistics and Its Types - A Comprehensive Guide | JEL

 What is Logistics? Logistics can be defined as the process of acquiring, managing, and distributing materials, services, capital assets, goods, and information necessary for the productive process at the right time and an optimum cost for the satisfaction of consumer demand. It covers activities such as transportation, packing and storing of products, material handling, order […]

Optimizing Supply with Demand Insights  

Optimizing Supply with Demand | JEL

Introduction to Demand Management: Demand management entails managing the demand for a certain product or service by forecasting it, planning for it, and controlling it. It seeks to match the supply and customer demand effectively, to use resources effectively, and to avoid incurring additional costs that would later be shifted to the customers. The latter […]

Streamlined E-Commerce with Dropshipping Business in India

Streamlined E-Commerce with Dropshipping Business in India | JEL

Overview of Dropshipping: Dropshipping is a retail model where the merchant does not own the inventory, i.e. they do not keep any merchandise on hand and take orders directly from customers. However, it orders the products from a third-party manufacturer or supplier as orders are received and delivered to the consumer. This model helps to […]

Why Effective Inventory Management Matters?

Importance of Inventory Management Inventory management involves keeping the right balance of stocks of products to be prepared to meet the needs of the market without having to stock more than what the market would require or less than what is required. It improves cash reconciliation, decreases storage costs, mitigates risks inherent in inventory, and […]

Procurement Strategies for Supply Chain

Procurement Strategies for Supply Chain | JEL

Introduction of Supply Chain Management: Supply Chain Management (SCM) thus refers to the management of tangible goods and services from the point of production, through distribution to the customer. Sourcing involves all the processes in sourcing raw materials until the final product is delivered to the customer at the lowest cost and time possible. SCM […]

Importance of Outbound Logistics

Importance of Outbound Logistics | JEL

 What is Outbound Logistics: Outbound logistics is the process of ensuring that the finished products are stockpiled and transported to the various clients in the market. This is important for a firm as it is an essential process in satisfying the customer demand. Outbound logistics refers to the processes that are involved in storing the […]

Inbound Logistics and its Importance

What is Inbound Logistics: Inbound logistics may be defined as the flow of acquiring all the necessary and appropriate raw materials or components required for production. It embodies all that is concerned with buying, receiving, inspecting, and transporting goods to a manufacturing or assembling site. This branch of logistics gravitates towards issues that relate to […]

Strategic Supply Chain Solutions

Strategic Supply Chain Solutions | JEL

What is Supply Chain Strategy: Supply chain strategy refers to the overall plan made by a company for the efficient and effective movement of products and services from the supplier to the consumer. It is the process of co-coordinating the purchasing, operations, logistics, and customer relations activities concerning company objectives in a manner that has […]

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