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Companies working in the catalog, retail and eCommerce space can improve their profitability. By implementing inventory cost saving strategies, a company can improve the management of its inventory assets and get the organization more focused on inventory planning, forecasting and analysis. Here are some ideas:

* Strategy: Establish a vendor scorecard to evaluate your vendors on parameters such as on-time deliveries, margins, and issue resolution.

* Strategy: Ensure that ALL categories and SKUs are forecast using a consistent methodology that makes sense for your company and the types of inventory that you stock.

* Strategy: Reduce your slow selling inventory as close to “in-season” as possible to get a higher cost recovery for it.

By developing inventory strategies, your company can realize an inventory cost reduction while improving efficiency. Learn how to maximize your profits with our multichannel cost reduction ideas

When it comes to the leading Richmond awnings, nobody has a better selection or record of service than Capitol Awning. For more than 70 years they’ve been offering retractable residential awnings and retractable commercial awnings that provide shade and protection from the elements both at home and at your place of business. Whether it’s for your porch, patio, or office entrance, Capitol Awning is ready to help you pick out the perfect awning. After they’ve helped you pick out the perfect awning, I’m sure you’ll be glad you took my advice.

For a few years, CBS has been running a television show called Numb3rs. The premise is the standard take off on the brothers-solving-mysteries cliché that has been around since at least the Hardy Boys. Of course, Numbers has some thngs that are different – the boys are employed and older. Don Eppes, the older of the pair, runs a team of FBI agents based in Los Angeles – a fair step above the amateur sleuthing of the Hardy boys. Charlie Eppes, the younger brother, is a math genius and a professor at the fictional “Cal Sci”.

Every week on each episode, Don and his federal agents encounter a problem, usually a problem with a deadline, which is too hard to figure out through ordinary or traditional police work. Set your watch by it; Professor Charlie Eppes and his team of nerdy yet smart mathematicians are able to use some form of advanced mathematics to accomplish a some inventive tasks from deciphering where a kidnapping will happen to the contents of boxes.

And while most of that is the magic of Hollywood, taking lab theory and fiting it into unrealistic time periods with even less realistic amounts of data, there is one portion of Numb3rs that demands admiration. During the hour-long show, the young Professor Eppes must give an explanation to a complex, doctoral-level mathematical system in a way that a team of federal agents can understand. This happens on each television episode with such regularity that the person in the show has begun to expect it; making small jokes and trying to give their own explanations.

Charlie’s explanations are clearly a plot device to convince the audience that his brilliant mathematical insights aren’t simply a weekly deus ex machine. However, just as Charlie has to explain how his math models the real world, the use of software estimation can often seem just as improbable. True, you can sit back and say “Well, the program relies on parametric modeling of our current situation,” but that look is far more likely to generate blank stares than anything else.

Article provided by Galorath, Cost Estimating Software Tools.