WK 2 Web Exercise - Boyer, Luke
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School
Macomb Community College *
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Course
1060
Subject
Industrial Engineering
Date
Feb 20, 2024
Type
docx
Pages
1
Uploaded by lukeboyer16
1.
Relex offers many services that help shape your supply chain and retail planning. These services are carried out by artificial intelligence (AI) generated forecasts and patterns that can show you the best way to manage your supply chain. These services are highly accurate and done quickly with the help of AI. Relex collects data and uses it to help plan for so many possible outcomes regarding things such as, but not limited to, demand, retail floor, and promotion planning. Another very advantageous service that Relex offers is collecting data from other vendors to see
what you can expect from them and help you learn things that may help your business as well as
how you can differentiate your products. There are so many services offered by Relex but the main similarity between all of them is that they use AI to help you improve your logistics and supply chain side of your company. 2.
Demand management can show trends in a company and using Relex can give you accurate predictions of what demand will look like over a period of time. This can help manage inventory in a huge way because you will know when products are likely to be bought, which will help you know when and how much to supply at a time. In the food industry, it is important that you get the food in your inventory out as soon as possible so it doesn’t go bad. If you are to have an accurate idea of what demand will look like you will be able to manage your inventory in a way that is getting food out fresh and not wasting food that has gone bad. The demand management
software will be super helpful in determining what demand will look like, which will in turn make
managing your inventory much more efficient and may reduce costs a lot. 3.
Relex serves a lot of food industries such as UNFI, Whole Foods Market, M&S Food, etc. Like the food companies are gas stations, convenience stores, and pharmacies such as 7-Eleven, Circle K, Rite Aid, etc. These companies greatly benefit from the forecasting tools that Relex offers and allows them to manage inventory in an efficient low-cost manner. Other customers include specialty retailers such as PetSmart and Petco as well as mass merchants like Bed Bath & Beyond, and Dollar tree. Relex even serves AutoZone and SupplyHouse.com. All these companies are similar in the sense that inventory management and the supply chain play a big role in their success. All the companies fit into manufacturers, retailers, and wholesalers which are big companies that require large inventories depending on how popular their business is. 4.
Demand management tools can be used to forecast what demand will look like and how it will affect things regarding the supply chain such as planning and controlling the inflow and outflow of goods. As stated in question 2, demand planning will help keep your inventory fresh in the food industry and show managers when food is likely to go out so they can restock inventory without the worry that food will go bad. Overall, these tools help supply chain managers forecast products in and out of the supply chain using data to determine when they will be needed in inventory and when they are likely to be sold.
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