Unleashed

MARCH 9, 2021

That’s where Procurement Metrics and Key Performance Indicators (KPIs) come into play. Procurement metrics and KPIs allow organisations to measure results and guide best practice performance. In this post, we’ll unpack ten top procurement metrics and why they matter. Undamaged shipment rate. On-time delivery: all suppliers.

Procurement Analytics 104

Procurement Analytics Procurement Solutions Optimal Sourcing Material Savings 104

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. What is a retail KPI?

Procurement Analytics 52

Procurement Analytics Metrics Retail Inventory Reduction 52

GlobalTranz

JULY 13, 2015

Throughout the supply chain, the use of metrics to track and understand processes provides an invaluable resource for ensuring increased production and customer satisfaction. What Distribution Center Metrics Need Tracking? However, the most important metrics can be categorized into the following eight areas. On-Time Shipping.

Procurement Analytics 120

Procurement Analytics Metrics Distribution Inventory Reduction 120

Unleashed

JULY 23, 2023

KPIs in manufacturing are quantifiable production metrics used by manufacturers to measure production performance over time. As a metric, it’s the time you budget to manufacture each part or component. This metric represents the amount of time you lose when switching a production line from one product to another.

Manufacturing Procurement 52

Manufacturing Procurement Procurement Analytics Metrics Inventory Reduction 52

QAD

JULY 1, 2021

This is not to be confused with the cost of goods manufactured (COGM), which refers to just the cost of inventory that was finished and prepared for the sale in the period. Improving communication between departments and comparing metrics across them. Improving communication between departments and comparing metrics across them.

Manufacturing Procurement 90

Manufacturing Procurement Procurement Analytics Cost Reduction Strategies Purchasing Skills 90

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. The next figure you need to calculate is COGS, which is a metric that relates to the direct costs of a product that a business sells.

Procurement Analytics 98

Procurement Analytics Inventory Reduction Metrics Inventory 98

GlobalTranz

JULY 22, 2019

Key performance indicators (KPIs) refer to the targeted goals that rely on metrics to provide a snapshot of the health of your operation. They connect data and metrics with an evaluation of whether your operation performs as expected and what strengths or weaknesses may exist.

Transportation Management 166

Transportation Management Transportation System Metrics 166

Supply Chain Shaman

SEPTEMBER 28, 2022

Navigating through the turmoil is unprecedented: there are no easy reference models to guide behavior. Companies driven by functional metrics struggled: they could not adapt quickly to the higher transportation costs.). Decrease the focus on functional metrics and align to a balanced scorecard. Conclusion.

Manufacturing Procurement 195

Manufacturing Procurement Supply Chain Design Software Network Design Software Supply Chain Planning Software 195

IQMS

MAY 1, 2018

Bottom Line: Manufacturers are reaching a new level of results in 2018 because they have clearer, more actionable insights based on real-time manufacturing and quality metrics than ever before. Quality Metrics Enable Customer-Driven Manufacturing Networks. Quality Metrics Defining the Future of Manufacturing.

Manufacturing Procurement 56

Manufacturing Procurement Metrics Quality Predictive Analytics Software 56

GlobalTranz

JUNE 4, 2015

In the first post our long tme guest blogger, Chuck Intrieri of The Lean Supply Chai n, gave us 5 core metrics to evaluate supplier performance using supplier quality management and a 4 step process to execute. Review of SQM Metrics and Issues Across 5 Core Industries. #1: Trend Metrics Collected per Site. Medical Devices.

Procurement Analytics 120

Procurement Analytics Metrics Quality Material Savings 120

Logistics Viewpoints

NOVEMBER 3, 2022

The latter refers to a single variable standard (SVS), by which one metric, such as cases per hour, is expected to tell all. What’s more, because an SVS approach only accounts for one metric at a time, a host of other equally if not more important metrics are bypassed, leaving you largely in the dark. Ad infinitum.

Supply Chain Design Software 212

Supply Chain Design Software Optimization Software System Logistics Network Optimization Software 212

synchrono

MARCH 6, 2017

For s omeone who is a Constraints Management person, this is the equivalent of saying “Ni” to the Knights Who Say Ni (Monty Python reference, okay?) When we look at the organizations of today, words like efficiency and productivity get thrown around with little understanding of what is required to improve one of these measurements (metrics).

Metrics 82

Metrics Waste Reduction Resource Reduction Cost Reduction Strategies 82

Supply Chain Shaman

FEBRUARY 18, 2021

Watermelon Metrics Don’t Drive The Right Results. I love the metaphor of watermelon metrics. In most organizations, there is a dashboard of functional metrics that shows all of the functions operating in the “Green” or acceptable levels until it comes to customer service. What are functional metrics?

Supply Chain Planning Software 278

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

ToolsGroup

JUNE 2, 2023

When reference data – such as product codes, supplier information, and warehouse locations – is misaligned across systems, it can cause discrepancies in transactional data, leading to inaccurate inventory levels and unreliable performance metrics. How do they achieve this?

Real-time Visibility 294

Real-time Visibility Manufacturing Procurement Optimal Sourcing Inventory Reduction 294

Supply Chain Shaman

JULY 25, 2021

To make the point, let me share an orbit chart for four industries (reference Figure 1). The Focus Inside-out Supported by Functional Metrics. Instead, the path requires a redefinition of process, metrics, and capabilities. I strongly believe that historical supply chain practices are not the answer.

Procurement Analytics 370

Procurement Analytics Supply Chain Design Software Agile and Lean Supply Chain Supply Chain Planning Software 370

Supply Chain Shaman

DECEMBER 13, 2021

How do we design work systems to align organizations and ensure that there is the right balance of reward systems with metrics? Is there a need to redesign metrics to move from a functional and traditional function to drive goal alignment? In the design of the digital program, spend time on metrics and reward systems.

Cost Reduction Strategies 351

Cost Reduction Strategies Price Mitigation Strategies Supply Chain Strategy Supply Chain Design Software 351

GlobalTranz

AUGUST 26, 2021

But there are times when it becomes necessary to outsource the entire process thoroughly, which many refer to as transportation as a service. A collaborative dedicated provider can deliver on critical service metrics and adjust to demand changes, while helping eliminate unfavorable market exposure.”

Logistics Network Optimization Software 283

Logistics Network Optimization Software Transportation Management 3PL Optimization Software 283

Supply Chain View from the Field

APRIL 1, 2015

Many people are talking about Key Performance Indicators, Metrics, Analytics, and other indicators of performance. The importance of selecting the right metrics or “measures” as I prefer to call them, is critical as we all know that metrics drive behaviors. Step 2 – Develop Metrics and Data Sources.

Cost Reduction Strategies 60

Cost Reduction Strategies Material Savings Inventory Reduction Resource Reduction 60

Logility

AUGUST 25, 2020

Every company today runs on data – the key to using your data is choosing the right metrics for visibility into your supply chain. While Key Performance Indicators (KPIs) may be reviewed quarterly or monthly, the speed with which supply chain operations occur makes a daily view of more tactical and operational metrics a growing necessity.

Supply Chain Planning Software 173

Supply Chain Planning Software Supply Chain Design Software Agile and Lean Supply Chain Supply Chain Software 173

EcoVadis

MAY 31, 2018

Read on for more details about EcoVadis ratings in this interview (first published on the ING Wholesale Banking site): Rating Sustainability Performance: An Essential Business Metric. Pierre-Francois Thaler, co-founder and co-CEO, explains the company’s business model and why it’s important to get rated.

Procurement Analytics 68

Procurement Analytics Metrics Sustainability Optimal Sourcing 68

SYSPRO Smarter ERP

MAY 29, 2023

Marshalling in warehouse management refers to the process of arranging and preparing items for outbound shipment according to their destination and delivery schedule, as well as verifying their accuracy and completeness. Key metrics that will indicate if marshalling is needed relate to picking and shipping.

Warehousing 98

Warehousing Material Savings Expense Reduction Cost Reduction Strategies 98

ToolsGroup

JUNE 8, 2021

Note: the same challenges apply for RFP (request for proposal) and RFQ (request for quotation methods, but for simplicity, we’ll just refer to RFI in this article.). 6 Focus on the wrong metric. RFIs also assume the organization is focusing on the right metrics. Seven Ways RFIs Fall Short.

Supply Chain Planning Software 245

Supply Chain Planning Software Forecasting Software Supply Chain Software Optimization Software 245

Supply Chain Shaman

MARCH 5, 2019

Make sure that the data is harmonized to ensure all data has the same time reference. The focus is on functional metrics, but are unable to get to overall supply chain metrics. The reference for supply chain leaders is an airport control tower. Carefully design conrol systems to compare reference data to control theory.)

Supply Chain Design Software 282

Supply Chain Design Software Real-time Visibility Prescriptive Analytics Software Supply Chain Planning Software 282

SYSPRO Smarter ERP

APRIL 24, 2023

Order fulfilment refers to the process of receiving, processing, and delivering an order to a customer. Manufacturers as well as consumer-oriented businesses need to embrace better fulfilment experiences for their customers. Perfecting order fulfilment can turn business transactions into repeat customers and advocates.

Optimal Sourcing 105

Optimal Sourcing Sourcing Strategies Supply Chain Planning Software Modeling 105

The Logistics & Supply Chain Management Society

AUGUST 14, 2023

Source: IDC, Future Enterprise Resiliency & Spending Survey – Wave 2, April 2023 In a supply chain context, knowledge management applications refer to the use of generative AI to capture, store, organize, and leverage large datasets and insights generated throughout the supply chain processes.

Optimal Sourcing 244

Optimal Sourcing Supply Chain Planning Software Supply Chain Software Modeling 244

ThroughPut

AUGUST 18, 2023

Supply Chain Management KPIs That Demonstrate Impact on Financial Performance As the above image outlines, finance is particularly interested in all the metrics on the left hand side including revenue growth, cost of goods sold, days in inventory and fixed assets utilization. These directly affect business performance. Here’s how.

Supply Chain Optimization 52

Supply Chain Optimization Supply Chain Software Material Savings Expense Reduction 52

Supply Chain Shaman

SEPTEMBER 22, 2022

For more on the building of the planning master data layer, reference the ASCM presentation from last week.) Unified Data Model Tied to a Balanced Scorecard: The movement from functional metrics to a balanced scorecard and the alignment of disparate planning engines through a unified data model. These concepts are new.

Supply Chain Planning Software 405

Supply Chain Planning Software Supply Chain Planning Optimal Sourcing Modeling 405

Veridian Solutions

SEPTEMBER 17, 2014

Metrics, sometimes referred to as key performance indicators (KPls), data, insights, or analytics, provide a glimpse into the universe of your warehouse management system (WMS) and operation. Tracking the right warehouse metrics is comparable to using binoculars to gain insight into your processes.

Metrics 40

Metrics Warehousing Supply Chain Analytics Software 40

SCMDOJO

FEBRUARY 29, 2024

The biggest challenge is that simply offering metrics, even those that appear to be the “right” metrics, usually doesn’t produce any results. The questions that are most often asked are: What metrics should I use? What metrics do others (in my industry) use? Where do I begin?

Vendor Strategies 55

Vendor Strategies Resource Reduction Price Reduction Procurement Analytics 55

QAD

OCTOBER 18, 2022

Risk Event Monitoring refers to supply chain disruptions that can be caused by weather, geopolitical events and other hazards. Corporate Social Responsibility (CSR) refers to the ability of companies to track and manage corporate goals, improving their impact on social and environmental goals.

Gartner 98

Gartner Optimal Sourcing Alabama Metrics 98

Logistics Viewpoints

APRIL 6, 2023

Their metrics are often misaligned as well – supply chain focuses on service and procurement focuses on the cost of acquiring materials and services. Traditionally what we typically refer to as indirect goods are mostly in Category 4. This approach results in inefficiencies, higher costs, and missed opportunities.

Optimal Sourcing 201

Optimal Sourcing Sourcing Strategies Manufacturing Procurement Material Savings 201

Logistics Viewpoints

APRIL 11, 2024

Historically these roles are siloed, focused on their own functional metrics. One global pharmaceutical company refers to this as the “whoosh” effect, because switching out the walls between siloes from opaque to clear meant that suddenly everyone could see the same information at the same time, which makes collaboration much easier.

Pharmaceutical 231

Pharmaceutical Supply Chain Planning Software Supply Chain Planning Agile and Lean Supply Chain 231

Logistics Viewpoints

NOVEMBER 14, 2022

Many-to-many can also refer to many participants in a network accessing many, many sources of event data critical to supply chain operations through a public cloud network. But, if a company wants to work with a new supplier, and that supplier is in the network, metrics on that carrier also exist.

Agile and Lean Supply Chain 224

Agile and Lean Supply Chain Supply Chain Planning Software Supply Chain Design Software Supply Chain Network Software 224

DELMIA Quintiq

NOVEMBER 6, 2019

As the common linchpin that brings together all manufacturing activities, has this metric improved along with all the investment in new technologies? These benefits are often referred to as “soft,” given the somewhat subjective nature of measurement. As a result, this metric is often downplayed or not referenced in the discussion.

Supply Chain Design Software 235

Supply Chain Design Software Manufacturing Optimization Software Predictive Analytics Software 235

SYSPRO Smarter ERP

FEBRUARY 13, 2023

In simple terms, Business Intelligence refers to the analysis of business information and the information it provides – the assessing and understanding of enterprise data for the purposes of generating information about operations and strategy, by identifying key trends, strengths and weaknesses.

Forecasting Software 105

Forecasting Software Supply Chain Software Cost Reduction Strategies Forecasting 105

ivalua

JULY 15, 2021

With this mounting pressure to commit to Net Zero and CPOs goals and incorporate sustainability metrics into all aspects of procurement decisions and processes, businesses are looking to elevate ESG strategies with a mind for climate change, ethical social practices and stronger governance models.

Material Savings 130

Material Savings Sourcing Strategies Supply Chain Strategy Sustainability 130

Silvon Software

APRIL 18, 2024

For example, recognizing that two different terms in separate datasets actually refer to the same concept (e.g., “DOB” For example, using real-time analytics to monitor product quality during manufacturing and trigger alerts if metrics fall outside acceptable ranges. DOB” and “Date of Birth”).

Manufacturing Procurement 52

Manufacturing Procurement Procurement Analytics Analytics Software Predictive Analytics 52