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Raw Material Inventory Management: Manufacturer’s Guide

Unleashed

Raw material inventory management oversees the procurement, handling, and storage of raw materials. It ensures you maintain optimal raw materials inventory levels, and therefore plays a crucial role in optimising your manufacturing processes. In this guide: What is raw material inventory management?

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Procurement Synonyms: All The Words You Need to Know in 2023

SCMDOJO

Whether you’re a seasoned procurement professional or just stepping into the world of sourcing and acquisitions, understanding the nuances of procurement synonyms can make all the difference. So, get ready to elevate your communication skills and gain a deeper understanding of the procurement domain.

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What Powers Artificial Intelligence (AI)? A Guide to Procurement!

Supply Chain Game Changer

But few people really understand what it is, how it works and more importantly, why it is so important to Procurement. This paper seeks to answer those questions and specifically address its benefits to the Procurement process by addressing the following checklist: Checklist. What is Artificial Intelligence or AI?

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6 Supply Chain Tools Which Will Save You 30 Hours

SCMDOJO

Many professionals rely on MS Excel as the go-to software for supply chain and procurement tasks but creating detailed dashboards can be time-consuming and exhausting. In this article, we will explore six of such supply chain tools that will revolutionize your workflow, ultimately saving you up to 30 hours of valuable time!

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Supply Chain as a Service (SCaaS): A Golden Opportunity for the Supply Chain Industry

SCMDOJO

SCaaS offers a solution by enabling hospitals to engage in strategic procurement, ensuring standardized operations throughout the contract duration. This partnership improves inventory management, particularly for medicines with limited shelf life, utilizing dedicated storage facilities.

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Warehouse Cost Reductions: 3 Understandings Driven By Inventory Management & Lean Principles

GlobalTranz

Today, I will now address how a focus on inventory will allow for warehouse cost reductions as well. A Focus on Inventory Control Begets Warehouse Cost Reductions. A Focus on Inventory Control Begets Warehouse Cost Reductions. First, look at inventory as MONEY/CASH. Understand Data Integrity to Reduce Inventory Costs.

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Restructuring Global Value Chains & Tariff Reduction – A Continuous Evolution for Supply Chains

The Logistics & Supply Chain Management Society

Many companies buy forward inventory ahead of tariffs being implemented. This strategy, however, may incur additional warehousing and storage costs, and firms may experience accounting challenges where an inventory is considered an asset, which could affect cash flow. Operational strategies. Buying forward.