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. What is Direct Procurement?

Manufacturing Procurement 130

Manufacturing Procurement Optimal Sourcing Procurement Analytics Procurement Solutions 130

Supply Chain Shaman

APRIL 18, 2023

For organizations layered in functional metrics and driving a cost agenda, this is a tough nut to crack. In the face of variability, this is two-to-six weeks too long to make allocation or procurement decisions. Rationalize global strategies to focus on building markets based on in-market sourcing. Tougher than most understand.

Supply Chain Planning Software 374

Supply Chain Planning Software Supply Chain Design Software Optimal Sourcing Supply Chain Software 374

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 389

Inventory Reduction Supply Chain Planning Software Cost Reduction Strategies Supply Chain Design Software 389

ToolsGroup

SEPTEMBER 20, 2022

Automation is at the center of modern manufacturing businesses, with companies exploring the possibilities of artificial intelligence in improving workflows and profitability. Industrial engineers incorporate these technologies in designing and fabricating advanced manufacturing systems. How AI Is Changing the Manufacturing Industry.

Manufacturing Procurement 156

Manufacturing Procurement Supply Chain Design Software Optimal Sourcing Supply Chain Planning Software 156

SCMDOJO

MARCH 8, 2024

In this blog, we’ll explore some key inventory optimization strategies that can benefit businesses of all sizes and industries. Top 5 Inventory Optimization Strategies Explained Managing inventory efficiently is vital for any business.

Inventory Reduction 78

Inventory Reduction Optimal Sourcing Resource Reduction Cost Reduction Strategies 78

Supply Chain Shaman

JANUARY 7, 2015

Tomorrow, I have a call with a manufacturing company to answer the question, “ What is the most important concept in the book?” While Joe is trying to balance the feedback from Filipe and Frank, he is often asked to change his metric targets by his CFO named Lou. Achieving Balance in Metrics. I have three.

Metrics 150

Metrics Agile and Lean Supply Chain Manufacturing Procurement Modeling 150

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 278

Supply Chain Planning Software Supply Chain Design Software Supply and Demand Procurement Analytics 278

Logistics Viewpoints

JUNE 29, 2023

By fostering collaboration across all stakeholders, including suppliers, manufacturers, and logistics providers, companies can enhance visibility, streamline processes, and proactively address disruptions. Configure to Order: This strategy involves customizing standard products based on customer specifications.

Manufacturing Procurement 185

Manufacturing Procurement Procurement Analytics Material Savings Inventory Reduction 185

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 78

Purchasing Training Negotiating Skills Buyer Training Manufacturing Procurement 78

SYSPRO Smarter ERP

MARCH 2, 2022

To deal with the new challenges in managing and planning the supply chain , the procurement department is one of the functions that should look at changing. It is no longer sufficient for procurement to focus just on supplier costs, placing orders and ensuring goods are received. Risk management. Collaboration with Finance.

Optimal Sourcing 116

Optimal Sourcing Manufacturing Procurement Supply Chain Planning Software Supply Chain Software 116

SYSPRO Smarter ERP

AUGUST 2, 2023

As members of one of the most highly regulated industries in the world, medical device manufacturers face numerous challenges. From stringent quality standards to comprehensive documentation requirements, Class 1 and 2 manufacturers must navigate a complex landscape to ensure compliance and product excellence.

Manufacturing Procurement 98

Manufacturing Procurement Procurement Analytics Analytics Software Optimal Sourcing 98

Silvon Software

APRIL 18, 2023

While clearly important in today’s constantly changing business environment, so many companies continue to struggle with how to measure and improve their performance – grappling with questions like: Which metrics really matter? Each requires its own portfolio of metrics. Even where the same metrics are used, there are differences.

Inventory Reduction 63

Inventory Reduction Sourcing Strategies Resource Reduction Material Savings 63

Supply Chain Shaman

DECEMBER 28, 2020

The first story is about a large regional food manufacturer. The second story is about a regional beverage manufacturer. George’s stated goal was an “end-to-end supply chain strategy,” but the verbage rambled in a non-sensical cycle of monosyllabic industry slang when asked to define it. The answer?

Supply Chain Planning Software 411

Supply Chain Planning Software Forecasting Forecasting Software Modeling 411

SCMDOJO

MARCH 19, 2024

In essence, a structured supply chain department as described in the blog can help you deliver the right supply chain strategy and goals which helps cost reduction, improve customer service, on-time delivery, and better working capital. Watch What is Marketing Procurement? on our SCMDOJO YouTube Channel!

Optimal Sourcing 74

Optimal Sourcing Supply Chain Planning Software Negotiating Skills Material Savings 74

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. Alex Zhong, Director Product Marketing at GEP.

Supply Chain Network Software 218

Supply Chain Network Software Manufacturing Procurement Procurement Analytics Optimal Sourcing 218

Unleashed

OCTOBER 6, 2021

Here we explain how you can do this with 16 cost reduction strategies in inventory management?that Under a VMI system the supplier, usually a manufacturer, is responsible for optimising the level of inventory held by the distributor. that are each proven to reduce a company’s costs.? It also avoids the need to dip into safety stock.

Inventory Reduction 95

Inventory Reduction Cost Reduction Strategies Material Savings Vendor Strategies 95

ShipBob

FEBRUARY 3, 2023

By monitoring particular metrics over time across your online sales, in-store sales, and operations, you’ll gain quantitative insights into your business performance. A retail KPI (or “Key Performance Indicator”) refers to a quantifiable metric used to measure how a retail business is performing. Why are retail metrics important?

Procurement Analytics 52

Procurement Analytics Metrics Retail Inventory Reduction 52

Precoro

JULY 16, 2023

This individual also ensures that established purchasing practices align with the general company financial strategy and business objectives. These goals can be expressed as key performance indicators (KPIs) – relevant functional metrics that can be tracked regularly to make sure that the business makes purchases in an efficient way.

Pricing Training 98

Pricing Training Purchasing Skills Procurement Analytics Purchasing Training 98

Silvon Software

JUNE 1, 2023

Ideally, your S&OP KPIs should consist of a mix of strategic, tactical, and operational metrics. At times, finding the right metrics can feel incredibly challenging, and there might be a tendency to measure things for the sake of measurement. The KPIs here highlight procurement, production, logistics, and customer fulfillment.

S&OP 93

S&OP Supply and Demand Optimal Sourcing Supply Chain Planning Software 93

Unleashed

JANUARY 3, 2023

As a manufacturer, a lot of businesses and customers rely on you to get things done on time. So, let’s break down how to improve cash flow in a manufacturing business and look at the various cash flow challenges faced by manufacturers around the world. But first you have to get in the green.

Manufacturing Procurement 96

Manufacturing Procurement Material Savings Expense Reduction Inventory Reduction 96

Unleashed

MARCH 21, 2021

The procure to pay process is complex and far more than simply making a phone call, or sending a few emails to arrange the purchase of goods. Strategically approaching the procure to pay process can see your company reap the rewards. In this guide, we’ll cover: What is the procure to pay process. Measuring and reporting.

Procurement Analytics 59

Procurement Analytics Procurement Solutions Manufacturing Procurement Optimal Sourcing 59

OptiProERP

MAY 18, 2023

So what is procurement? Procurement is acquiring goods, services, or works from an external source. Procurement can be done by a government agency, a private organization, or an individual, and it can involve purchasing anything from pencils to complex machinery. What Are the Types of Procurement?

Optimal Sourcing 52

Optimal Sourcing Manufacturing Procurement Negotiate Pricing Procurement Solutions 52

Precoro

MARCH 31, 2023

March 21 was the second annual iteration of World Sustainable Procurement Day , an online event organized by the Sustainable Procurement Pledge team, SPP Chapters, SPP Champions, and partners to raise awareness about the importance of ethical procurement and to share the best sustainability practices with organizations worldwide.

Optimal Sourcing 52

Optimal Sourcing Procurement Analytics Manufacturing Procurement Procurement Solutions 52

The Logistics of Logistics

FEBRUARY 11, 2022

OTIF is a key supply chain metric. Lynch and his team leverage data intelligence and strong industry relationships to help clients uncover transportation savings, build scalable supply chain strategies, and ace retailer compliance programs. Andrew Lynch and Joe Lynch discuss the true cost of OTIF failure. About Andrew Lynch.

Cost Reduction Strategies 206

Cost Reduction Strategies North America Logistics Network Optimization Software Manufacturing Procurement 206

OptiProERP

MARCH 15, 2022

Before getting into production scheduling and how it helps manufacturers, let’s have a quick look at the functions of the production department in a manufacturing organization. This process includes developing strategies for the allocation of machinery, human resources, and production material. What is a Production Schedule?

Manufacturing Procurement 78

Manufacturing Procurement Optimal Sourcing Material Savings Resource Reduction 78

Supply Chain Shaman

SEPTEMBER 3, 2018

Second, they adapt over time as market structures and strategies evolve. We consistently see that companies focused on functional excellence–a focus within a functional silo like manufacturing, transportation or distribution– or singular metrics– like inventory or costs– underperform against their peer groups.

Supply Chain Planning Software 311

Supply Chain Planning Software Supply Chain Design Software Agile and Lean Supply Chain Supply Chain Software 311

OptiProERP

APRIL 9, 2024

Collaboration between production, procurement, and logistics teams is essential to optimize resource utilization and minimize lead times. Manufacturing and Assembly The heart of the process lies in manufacturing and assembly. Its robust business and manufacturing functionality connects the entire organization from end to end.

Optimal Sourcing 52

Optimal Sourcing Manufacturing Procurement Supply Chain Planning Software Inventory Management Software 52

NC State SCRC

NOVEMBER 2, 2023

Lessons Learned from a Career in Procurement As part of our weekly Supply Chain Leadership, I interviewed Howard Richman, who I am co-authoring a new book with (“Procurement Confidential”). At Mars, procurement (commercial as it was called) was one of the most highly regarded of the professions.

Procurement Analytics 52

Procurement Analytics Negotiating Skills Manufacturing Procurement Optimal Sourcing 52

Supply Chain Shaman

JANUARY 31, 2022

The Chief Financial Officer gained more presence with procurement and IT reporting to finance. As a result, focusing on cost and efficiency, and functional metrics throws the supply chain out of balance. He genuinely cared for the organization and prided himself on forging clever strategies. Focus on Cost. Less Collaborative.

Procurement Analytics 217

Procurement Analytics Manufacturing Procurement Supply Chain Planning Software Sourcing Strategies 217

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. Organizations can align to drive value despite the allegiance to functional metrics. With the increase in complexity, manufacturing cycle inventories rise. Mistake #5.

S&OP 195

S&OP Supply and Demand Procurement Analytics Manufacturing Procurement 195

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.

Purchasing Skills 98

Purchasing Skills Procurement Analytics Negotiating Skills Negotiate Pricing 98

Unleashed

DECEMBER 21, 2023

Keep reading to uncover the risks and challenges of inventory management , learn about the types of solutions available, and discover some of the most effective inventory management strategies in modern business. Perpetual inventory software systems enable real-time tracking of key metrics, including your current stock on hand value.

Inventory Reduction 52

Inventory Reduction Inventory Management Software Vendor Strategies Cost Reduction Strategies 52

Supply Chain Shaman

SEPTEMBER 20, 2015

When I hear companies discussing the implementation of a customer segmentation strategy, I ask a series of questions: Who is your customer? What are you trying to accomplish through the execution of a customer segmentation strategy? In my opinion, we have made procurement increasingly complex without adding value.

Inventory Reduction 150

Inventory Reduction Cost Reduction Strategies Sourcing Strategies Supply Chain Strategy 150

Talking Logistics

JUNE 30, 2015

In the last decade, many companies, especially those with manufacturing operations, have evolved direct materials sourcing from an administrative function to a strategic procurement process. As a strategic process, transportation procurement may still seem very tedious and challenging. Be demand driven.

Negotiating Skills 100

Negotiating Skills Manufacturing Procurement Material Savings Procurement 100

Supply Chain Shaman

FEBRUARY 7, 2022

The Chief Financial Officer gained more presence with procurement and IT reporting to finance. As a result, focusing on cost and efficiency, and functional metrics throws the supply chain out of balance. He genuinely cared for the organization and prided himself on forging clever strategies. Focus on Cost. Less Collaborative.

Procurement Analytics 195

Procurement Analytics Manufacturing Procurement Sourcing Strategies Optimal Sourcing 195

CormSquare

JANUARY 10, 2017

Subsequently, procurement tends to be an afterthought, when it should be approached strategically! Small businesses spend between 40% – 65% of sales revenue on procurement of inputs. Following are the 5 strategies that can help SMEs in nearly any phase of their procurement efforts. Technological Advancement.

Resource Reduction 50

Resource Reduction Cost Reduction Strategies Price Reduction Inventory Reduction 50

Supply Chain Game Changer

MAY 5, 2021

Companies have leveraged digital tools, and evolving skills, to collect vast data about product or raw materials sourcing, transportation, logistics, and manufacturing. They use advanced ERP software and S&OP strategy to match supply with demand, and turn over inventory faster and faster.

Sourcing Strategies 52

Sourcing Strategies Material Savings Inventory Reduction Cost Reduction Strategies 52