Unleashed

JANUARY 14, 2024

Manufacturing inventory management is crucial to the success and profitability of your manufacturing operations. It refers to the process of purchasing, storing, and tracking the various goods required to build a product. In this manufacturing inventory management guide What is manufacturing inventory management?

Inventory Management Software 52

Inventory Management Software Manufacturing Procurement Inventory Reduction Inventory Management 52

SYSPRO Smarter ERP

MARCH 28, 2024

If production metrics are important, you may want to get data on: Machine and labor availability. How to apply metrics One challenge is deciding what metrics to use. Different departments have their own data needs and very specific metrics. There needs to be an understanding of how granular the metrics should be.

Manufacturing Procurement 52

Manufacturing Procurement Supply Chain Planning Software Optimization Software Optimal Sourcing 52

SYSPRO Smarter ERP

APRIL 11, 2022

Over the last decade, the role of the manufacturing and distribution CFO has undergone a profound shift. survey , 57% of manufacturing CFOs agree that proficiency and knowledge to create an effective plan to operationalize and transition the business into a digitalized and automated manufacturer is the most critical factor globally.

Manufacturing Procurement 105

Manufacturing Procurement Distribution Supply Chain Design Software Manufacturing 105

SYSPRO Smarter ERP

NOVEMBER 3, 2021

Manufacturers and distributors experienced huge supply chain disruptions due to the pandemic which exposed many vulnerabilities and tested the resilience of supply chain leaders globally. Manufacturing KPIs. can be measured to define this metric.

Manufacturing Procurement 105

Manufacturing Procurement Supply Chain Planning Software Supply Chain Design Software Agile and Lean Supply Chain 105

GlobalTranz

JUNE 30, 2017

Manufacturers have always struggled to know their customers. Unfortunately, this means manufacturers face an even greater challenge, as more customers translate into greater use of customer service. But, how do manufacturers turn their focus to the customer experience? Determine What Customers Want Today.

Manufacturing Procurement 205

Manufacturing Procurement Manufacturing Procurement Analytics Price Reduction 205

Supply Chain Shaman

APRIL 9, 2021

of revenue on information technology (IT), only six percent of manufacturers drove performance at the intersection of growth and margin. Average performance in 2016-2019 across twenty-seven manufacturing sectors on inventory turns, Return on Invested Capital and operating margin was worse than in 2012-2015. Despite spending 1.1%

Supply Chain Planning Software 369

Supply Chain Planning Software Procurement Analytics Supply Chain Performance Manufacturing Procurement 369

Supply Chain Shaman

FEBRUARY 1, 2024

Optimization engines to improve functional metric performance resulted in an exploding number of planners. Let’s take a couple of examples: Retail Available to Promise (ATP). Contract Manufacturing Signal Latency. In our research, we find that 32% of volume is manufactured by a third party. How does this happen?

Supply Chain Planning Software 370

Supply Chain Planning Software Optimal Sourcing Manufacturing Procurement Waste Reduction 370

Precoro

NOVEMBER 13, 2023

One of the ways that procurement teams improve this figure is by tracking and improving the purchase price variance (PPV) metric. In this article, we'll explain what PPV is, why it matters, and how tracking this metric can benefit your procurement processes. Why Is Purchase Price Variance Important?

Purchasing Skills 98

Purchasing Skills Procurement Analytics Negotiating Skills Negotiate Pricing 98

Logistics Viewpoints

AUGUST 15, 2022

GEP and the North Carolina State University (NCSU) Supply Chain Resource Cooperative surveyed supply chain, procurement and IT professionals across a range of industries to gain insight into their priorities and strategies regarding supply chain resilience and optimization. For example, are you still a minority owned company?

Supply Chain Network Software 219

Supply Chain Network Software Manufacturing Procurement Procurement Analytics Optimal Sourcing 219

Logistics Viewpoints

SEPTEMBER 4, 2023

Procuring transportation for freight is much different than any other procurement category. Transportation procurement needs to support both customer service and a company’s internal supply chain goals. One master of freight procurement is Kyle Masters. Simmons Foods Simmons Foods is a farm to fork poultry manufacturer.

Procurement Solutions 204

Procurement Solutions Procurement Analytics Manufacturing Procurement Optimal Sourcing 204

Unleashed

APRIL 6, 2022

Lean manufacturing involves 13 core principles – many more than the ‘five principles’ that are often associated with this popular manufacturing system. The lean concept originally came from manufacturing, but it has gained in popularity and is now used widely across different industries and sectors.

Manufacturing Procurement 98

Manufacturing Procurement Agile and Lean Supply Chain Lean Inventory Management Software 98

SYSPRO Smarter ERP

JUNE 9, 2022

Manufacturers rely on data and their ERP platform to answer critical questions: What are our inventory levels? How much does it cost us to manufacture this product? Here’s an example. The power of business intelligence for manufacturers. Mid-market manufacturers need a tool that’s tailored to their needs.

Supply Chain Design Software 98

Supply Chain Design Software Analytics Software Supply Chain Planning Software Predictive Analytics Software 98

ivalua

AUGUST 17, 2021

What does Procurement mean? An organization’s Procurement function is responsible for managing spend, in other words the buying goods and services that are used to make the products sold to customers as well as the purchasing of products and services used to run the organization on a day to day basis.

Manufacturing Procurement 130

Manufacturing Procurement Optimal Sourcing Procurement Analytics Procurement Solutions 130

Unleashed

NOVEMBER 2, 2023

A production schedule can help you bring down manufacturing costs and maximise efficiency during the production process. A production schedule is a project plan detailing the scheduled timeline for goods to be manufactured. Its goal is to ensure goods are manufactured with maximum efficiency, on time and within budget.

Manufacturing Procurement 52

Manufacturing Procurement Examples Sourcing Strategies Supply Chain Planning Software 52

Supply Chain Shaman

FEBRUARY 18, 2021

Advanced planning evolved with a focus on modeling manufacturing constraints. Initially, the output was published to procurement to design strategic buying strategies. Procurement became an island–isolated from the demand signal except for MRP. Watermelon Metrics Don’t Drive The Right Results.

Supply Chain Planning Software 315

Supply Chain Planning Software Supply Chain Design Software Supply and Demand Procurement Analytics 315

Supply Chain Shaman

MARCH 21, 2024

During the 1980s, I was on a management team for a large manufacturer. The Company was attempting to gain economies of scale by grouping manufacturing technologies within a common infrastructure to reap the benefits of a co-generation facility, a centralized warehouse, and a talented administrative team. Lack of aligned metrics.

Inventory Reduction 424

Inventory Reduction Supply Chain Planning Software Cost Reduction Strategies Supply Chain Design Software 424

Supply Chain Shaman

JULY 19, 2020

The supply chain is complex non-linear system that is easily thrown out of balance through a focus on functional metrics. They rock back and forth in improving singular metrics but struggle to improve a portfolio of growth, margin, inventory performance, and asset utilization. Stop the Focus on Functional Metrics.

Supply Chain Design Software 437

Supply Chain Design Software Supply Chain Planning Software Supply Chain Design Agile and Lean Supply Chain 437

ThroughPut

MAY 3, 2024

From a manufacturing perspective, the best logistics management software facilitates effective planning of the supply chain itself and implementation of the final delivery to the end consumers. It now shares similarities with Supply Chain Management Software (SCMS), to help deal with manufacturing operations, processes, vendors and suppliers.

Procurement Solutions 52

Procurement Solutions Logistics Network Optimization Software Supply Chain Planning Software Prescriptive Analytics Software 52

Unleashed

JUNE 15, 2023

The Cost of Goods Sold formula is: Opening Inventory + Purchases + Production Costs – Closing Inventory = Cost of Goods Sold Below, we explain what the cost of goods sold (COGS) is, why it’s important for product businesses, and how to calculate COGS using the cost of goods sold formula. What is cost of goods sold?

Purchasing Skills 52

Purchasing Skills Negotiating Skills Examples Cost Reduction Strategies 52

Oracle SCM

JUNE 14, 2018

Manufacturing today is more complex than ever before. context, data is coming in from more and more sources. " Now when we look at the amount of data that is created in the context of Manufacturing, the Industrial Internet of Things, and Global Supply Chains, we can be sure that it is not much different.

Manufacturing Procurement 96

Manufacturing Procurement Predictive Analytics Software Manufacturing Modeling Software 96

The Logistics & Supply Chain Management Society

AUGUST 14, 2023

Breaking Boundaries: Exploring Generative AI’s Impact on Supply Chains Supply chains encompass many interconnected activities, from procurement, production, and inventory management, to logistics and distribution. These activities involve numerous stakeholders, such as suppliers, manufacturers, distributors, and retailers.

Optimal Sourcing 244

Optimal Sourcing Supply Chain Planning Software Supply Chain Software Modeling 244

DELMIA Quintiq

DECEMBER 14, 2021

According to the UN Environment Program’s Food Waste Index, 923 million metric tons of food is wasted globally every year. Source: [link]. The United States, for example, wastes about 40% of their food , amounting to about 125 to 160 billion pounds—much of which is perfectly edible. Pete Pearson Director of Food Waste, WWF.

Waste Reduction 296

Waste Reduction Food Optimal Sourcing Material Savings 296

Supply Chain Shaman

FEBRUARY 26, 2024

Based on the work with Georgia Tech, we are getting clear on which metrics matter by industry. As companies adopt a balanced scorecard, the functional metrics shift to a focus on reliability. For example, in manufacturing, the shift in focus is away from OEE to focus on first pass yield and schedule adherence.)

Modeling 215

Modeling Supply and Demand Optimal Sourcing Supply Chain Planning Software 215

GlobalTranz

MARCH 23, 2016

These metrics would, of course, be aligned and are updated every hour. The metrics are also manual as automatic metric systems cannot retrieve the information at an hourly frequency as these metrics are process inputs and not outputs. Specific metrics: process metrics and outcome metrics.

Agile and Lean Supply Chain 120

Agile and Lean Supply Chain Manufacturing Procurement Lean Sustainability 120

Supply Chain Shaman

DECEMBER 28, 2020

Let me make my point by sharing some financial data using client examples from the last decade. The first story is about a large regional food manufacturer. An example for this client would be to use 2017 and 2018 history to forecast 2019. The second story is about a regional beverage manufacturer. The answer?

Supply Chain Planning Software 418

Supply Chain Planning Software Forecasting Forecasting Software Modeling 418

IQMS

JULY 11, 2019

Improving semiconductor manufacturing yields up to 30%, reducing scrap rates, and optimizing fab operations is achievable with machine learning. Manufacturers care most about finding new ways to grow, excel at product quality while still being able to take on short lead-time production runs from customers.

Manufacturing Procurement 42

Manufacturing Procurement Optimal Sourcing Modeling Manufacturing 42

SCMDOJO

JULY 3, 2023

In today’s fast-paced and competitive business landscape, organizations across industries are realizing the immense value of effective procurement practices. Procurement professionals play a vital role in driving operational efficiency, cost savings, and strategic decision-making. But how do you get started? Do not worry!

Purchasing Training 81

Purchasing Training Negotiating Skills Buyer Training Manufacturing Procurement 81

Supply Chain Shaman

FEBRUARY 14, 2022

Notice how the water turns from blue to brown in Figure 3 with the lack of demand translation capabilities within the enterprise for manufacturing and logistics. Orchestration enables companies to effectively manage trade-offs between source, make, deliver and sell.) We source this data from Y charts. Mistake #3. My challenge?

S&OP 195

S&OP Supply and Demand Procurement Analytics Manufacturing Procurement 195

Unleashed

DECEMBER 15, 2021

Here explain what DSI is, how to use it, and why it’s crucial to track this metric in your business – whether you’re a retailer, manufacturer, wholesaler or distributor. For manufacturers, it’s about understanding how long the process takes from receiving inventory to manufacturing a product and achieving a sale.

Procurement Analytics 98

Procurement Analytics Inventory Reduction Metrics Inventory 98

GlobalTranz

APRIL 25, 2016

3 Key Metrics for Measuring Supply Chain Performance Beyond Cost Reduction. Inventory measurement is critical and it is money after all in that it took a capital expense to procure. 10 Soft Metric Considerations in Measuring Supply Chain Performance. The goal is to keep inventory levels at a minimum to meet customer needs.

Procurement Analytics 120

Procurement Analytics Supply Chain Performance Metrics Supply Chain Software 120

Silvon Software

SEPTEMBER 26, 2023

While many of the KPI examples focus on performance management for manufacturing and distribution businesses, they also apply to numerous other industries with similar operational structures. In this 3-minute post, we examine some key business objectives and cascading KPIs that can be used to analyze performance to the objectives.

Procurement Analytics 105

Procurement Analytics Optimal Sourcing Manufacturing Procurement Inventory Reduction 105

QAD

JUNE 25, 2019

It is critical to monitor inventory effectiveness using five key metrics: Expedited orders, inventory turns, obsolete inventory, safety stock and stockouts. Whether you measure purchase orders or customer orders—and you should do both—high numbers indicate problems in your inventory planning and flow.

Procurement Analytics 103

Procurement Analytics Metrics Inventory Reduction Inventory 103

QAD

AUGUST 12, 2021

Sustainable manufacturing refers to the ability to manage manufacturing operations “in an environmentally and socially responsible manner,” according to the Organization for Economic Cooperation and Development. Sustainability Objectives for Manufacturers. Where Does ERP Come into Play with Manufacturer Sustainability Efforts?

Waste Reduction 98

Waste Reduction Resource Reduction Material Savings Inventory Reduction 98

EazyStock

MARCH 14, 2023

The right purchasing and logistics strategies give companies an edge during these unique, uncertain times and, during the return “to normal,” a greater competitive advantage and continued growth. With the right strategies in purchasing, logistics and supply chain, you can navigate through a recession and come out as a winner.

Inventory Reduction 52

Inventory Reduction Price Reduction Cost Reduction Strategies Waste Reduction 52

ThroughPut

MAY 22, 2024

Following this, data sources are identified and shared, and success metrics and business outcomes are defined so that everyone works toward the same goals. Such quality validation is crucial, as a seemingly simple mislabeling of a product category could potentially lead to, for example, a 10% inefficiency in demand forecasting.

Supply Chain Planning Software 52

Supply Chain Planning Software Optimal Sourcing Modeling Inventory Reduction 52

OptiProERP

MAY 18, 2023

So what is procurement? Procurement is acquiring goods, services, or works from an external source. It involves sourcing, negotiation, ordering, delivery, and payment for goods or services. What Are the Types of Procurement?

Optimal Sourcing 52

Optimal Sourcing Manufacturing Procurement Negotiate Pricing Procurement Solutions 52

Unleashed

OCTOBER 16, 2023

Every manufacturer knows the importance of raw materials – without them, there’s no final product. Raw material inventory management oversees the procurement, handling, and storage of raw materials. It encompasses the processes involved in purchasing, tracking, consuming, and relocating raw materials. Let’s dive in.

Inventory Management Software 52

Inventory Management Software Material Savings Inventory Management Inventory Reduction 52