Inventory Management: We Can Do Better

Supply Chain Shaman

Downsizing inventories over the past decade crippled the response.” In Table 1, I share research collected for the Supply Chains to Admire analysis on the average days of inventory by industry across the period of 2004 to 2019 by increments to match economic shifts. Days of Inventory Peer Group Across Time Periods. So when we start with the facts, it is clear that every industry peer group increased the days of inventory. So, why have we not reduced inventory?

Seven Misconceptions on Managing Inventory in a Market-Driven World

Supply Chain Shaman

When it comes to the management of inventory in value chains, frustration abounds. Executive, after executive, lament, “They have purchased many technologies and sponsored many projects to reduce inventories, but they are not seeing results.” ” I have been studying the evolution of inventory technologies as an industry analyst since 2002. Inventory is the culmination of many business decisions. The Inventory Management Journey.

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Vendor Managed Inventory? Think twice and consider the risks!

Supply Chain View from the Field

Historically, businesses have used one of two extremes for inventory management: push-based or pull-based. Push-based inventory management uses demand forecast to manage inventory and replenish from the supply base. Pull-based inventory management, on the other hand, uses consumption to replenish from the supply base and manage inventory. Inventory levels actually increased at downstream (buyer) facilities.

Delivering Shoes to Children in Need Using Enhanced Inventory Visibility

Logistics Viewpoints

The organization was founded in 2002 in response to the growing need for basic supplies in impoverished nations. Shortly before the holiday break, I had the privilege of speaking with Manny Ohonme, Founder and President of Samaritan’s Feet. Samaritan’s Feet is a non-profit organization that, in their words, “shares a message of hope and love through washing the feet of impoverished children around the world and adorning them with new shoes.”

Study Shows Two-Thirds of Companies Yet to Execute Digital Transformation in Supply Chain Planning

ToolsGroup

Our customers overcome demand volatility and supply chain complexity for outstanding service levels with reduced inventory. ToolsGroup solutions include Demand Planning & Sensing, Inventory Optimization, Allocation & Replenishment, Demand & Supply Collaboration, Promotions Planning and S&OP. Founded in 2002, Spinnaker has offices in Boston, Columbus, Denver, Houston, Memphis, Pittsburgh, London, and Singapore. PRESS RELEASE.

Study 131

Tackling Item Complexity

Supply Chain Shaman

Stuck, the company struggled with customer service levels and high inventory write-offs. The process helped World Kitchen manage inventories through bankruptcy filing in 2002. In 2002, World Kitchen implemented a disciplined process for managing product complexity. The SEVA defined SKU profitability after adjustments for associated inventory, manufacturing, distribution and financial assets used to make, deliver and distribute the item. Personalization.

Why Our Goal Should Not Be an Integrated Supply Chain

Supply Chain Shaman

In 2002 I worked for Gartner Group in the business applications practice. Companies that achieve balanced scorecard results–above their peer group in cost, growth, customer service, inventory, and asset management–are good at horizontal processes (revenue management, S&OP, new product launch, and supplier development). It is a view of the use of technologies for inventory. Use of Technologies for Inventory.

What’s New with MMOG/LE Version 5?

QAD

The MMOG/LE assessment has been a go-to document for automotive supply chain best practices for thousands of global Tier 1 and Tier 2 suppliers since its first publication in 2002. Although the Excel-based MMOG/LE assessment tool has served the industry since 2002, it was time to update it to a more modern application. The QAD customers we have worked with to assist in answering the MMOG/LE assessment have achieved a 15-60 percent reduction in inventory as one of the many benefits.

How Proper Label Controls Can Help Your Manufacturing Plant

IQMS

Gain both serialized and non-serialized inventory control support. You’ve heard the labeling horror story, now let’s take a look at a success story from an IQMS customer: Custom Profile is a profile extruder based in Grand Rapids, Michigan and has been an IQMS customer since 2002. With proper labeling controls and tools in place, you can ensure more accurate inventory control and supply chain management across your shop floor.

The Hard Economics of Justifying a Digital Supply Chain Transformation!

Supply Chain Game Changer

Big companies tend to select an enterprise system for its core finance modules and the need – no, requirement – for a single version of the truth in accounting, as well as a chain of internal controls driven by the 2002 Sarbanes-Oxley Act. Since we’ve been discussing recently how invaluable end-to-end supply chain visibility is to managing disruption , here are a few more – quite achievable – scenarios when leveraging the software: Reduce inventory liability. Subscribe Here!

Finally – A breakthrough alternative to spreadsheets for managing your Supply Chain

AIMMS

When SAP launched APO in 2002, the optimization technologies were inferior to most best-of-breed technologies in the market. It bundles Integrated Business Planning, a Supply Chain Control Tower, Inventory and Demand/Supply planning into a new cloud-based architecture based on HANA. For most enterprise companies, ERP has become a foundational infrastructure technology and a cost of doing business.

Post-pandemic Supply Chains

Enterra Insights

Tan points out, when the SARS, or severe acute respiratory syndrome, epidemic broke out in 2002 and 2003, “China contributed 4% to the world’s GDP. Allocate the available capacity and inventory only to products that allow you to achieve your specific objectives during the recovery period.

The worst Supply Chain practices must be confessed and not only by constraint

KEPLER Consulting

The inability to provide daily updated data on inventories of raw materials, semi-finished products, and finished products presents two major concerns: The decrease of the WCR for companies, the deployment of a dashboard tailored and user-friendly is essential in order to take charge of the management of a share of its WCR. Supply chain inventory management and the value of shared information”, Management science, vol. Thesis, Northwestern University, 2002.

VTech: A Story of a Supply Chain Leader

Supply Chain Shaman

Inventory Turns. Better performance in inventory turns than the peer group average for the period studied. In the analysis of the performance factors, companies are divided into two classifications: Supply Chains to Admire Winners: In the analysis of the performance factors of growth, operating margin, inventory turns, and Return on Invested Capital, Supply Chain to Admire winners score at or above the industry peer group average for all four of the factors.

Say Customer Service and Mean It

Supply Chain Shaman

And if you speak long enough, you will hear about a supply chain design that delivers growth at twice the rate of competitors while outperforming on cost, inventory turns, and Return on Invested Capital (ROIC).

Five Things You Need to Know About Machine Learning for Supply Chain Planning

ToolsGroup

Daniel Kahneman , who shared t he 2002 Nobel Prize in Economic Sciences, wrote in his book Thinking, Fast and Slo w that “Statistical algorithms greatly outdo humans in noisy environments for two reasons: they are more likely than human judges to detect weakly valid cues and much more likely to maintain a modest level of accuracy by using such cues consistently.”.

Supply Chain Redesign: A Conversation with Lennox International’s Keith Nash

Talking Logistics

Some of the key benefits we’ve realized are lower transportation costs, record service levels and shorter cycle times, and better inventory accuracy. Adam joined Manhattan in 2002 after the acquisition of Logistics.com where he supported their SaaS Transportation solution. Last month on Talking Logistics , Adrian Gonzalez, Keith Nash (VP Supply Chain Logistics at Lennox International ) and I discussed “Lennox International’s Complete Supply Chain Redesign.”

Throwback Thursday

Supply Chain Shaman

As hospitals adopted consignment planning programs, inventory progress slowed. The turns are the lowest of any industry, and despite investments in technologies and processes, inventory turns have only improved 3%, and Cash-T0-Cash (C2C) cycles have declined 4%. The patterns at the intersection of inventory turns and operating margin are tighter than other industries, but we do not find “strength” or year-over-year performance improvements in the numbers.

A Lockout Looms for the ILWU: Why it Might Happen, and What it Means for the Nation

CH Robinson Transportfolio

This is similar to what happened in 2002. At that time, the ILWU had been working without a contract since September 1, 2002. On September 29, 2002, the PMA accused the ILWU of engaging in a slowdown during contract negotiation and locked them out. President Bush successfully invoked Taft-Hartley in 2002 after 10 days of lockout. While it’s not an act widely popular to the ILWU, it successfully brought an agreement between the PMA and ILWU back in 2002.

Top 25 3PL warehousing companies in 2020 (by revenue)

6 River Systems

Deutsche Post started acquiring shares of the company in 1998 and completed its acquisition of DHL by 2002, expanding the brand ‘DHL’ to its other services. They provide air and sea freight forwarding services, customs brokerage and warehouse inventory management services.

Opinion: A Post-Covid 19 World for Supply Chains: Back to the Future?

6 River Systems

” However, as we saw in China after SARS in 2002, it’s possible that ‘normal’ won’t quite look like what we’re used to. Supply chains rethink safety stock The traditional view is that inventory should be treated like calories: we need a certain amount each day to function, and things tend to go south when there is excess. But have we taken too radical a view when it comes to inventory levels?

Nearshoring & Reshoring Will Continue to Increase Thanks to these Main Benefits

Cerasis

It was cheaper than producing products in the US, manufacturers could produce large inventories with little capital up front, and consumers did not really have a public voice. These recall counts point to sizeable growth over the past decade in the recall notices of Chinese-made consumer goods from 58 in 2002 to 153 in 2014. Take a moment to think about offshoring. Offshoring is basically when a company moves manufacturing to a foreign country in an attempt to save money.

Podcast: Dave Anderson on the Evolution and Future of Logistics

Requis

Dave and his partner Dan Dershem started Supply Chain Ventures LLC in 2002 – just after the internet investing bubble burst. The emergence of real time data has made a big impact on sales and operations planning, because it’s harder to make decisions when you’re trying to determine inventory and production levels using 3-month old data, rather than real-time sell through information plus social media product reviews.

Podcast: Dave Anderson on the Evolution and Future of Logistics

Requis

Dave and his partner Dan Dershem started Supply Chain Ventures LLC in 2002 – just after the internet investing bubble burst. The emergence of real time data has made a big impact on sales and operations planning, because it’s harder to make decisions when you’re trying to determine inventory and production levels using 3-month old data, rather than real-time sell through information plus social media product reviews.

Three Reasons Why SAP Supply Chain Planning Is a Risk to Your Business

Supply Chain Shaman

When SAP launched APO in 2002, the optimization technologies were inferior to most best-of-breed technologies in the market. It bundles Integrated Business Planning, a Supply Chain Control Tower, Inventory and Demand/Supply planning into a new cloud-based architecture based on HANA. I am writing this blog post in the air, sitting in seat 4c, somewhere over the Midwest en route to Philadelphia. As I look below, I see field after field of United States farmland.

Seasoned Leadership in Action™! An Interview with Michael Massetti, VP at Gartner!

Supply Chain Game Changer

The biggest career transformation for me was after leaving Dell when I joined Lucent in 2002 and entered supply chain in technology sourcing. The team reduced finished-goods inventory by 50% and reduced the assembly and test line production variances by 50% in 9 months. In reality, a few abrupt moves and getting laid off in 2001 by Dell drove a sharp left-hand turn in my career in 2002 that evolved to where I am today. Subscribe Here! Email Address.

50 warehouse automation stats you should know

6 River Systems

percent, the lowest level since at least 2002. According to Logistics Management’s 2018 Warehouse / Distribution Center Survey , “Respondents took a range of actions to lower operating costs, including improving processes, improving warehouse information technology (IT), improving inventory control, and leveraging a 3PL. Human error is the most frequent cause of inventory and fulfillment issues.

The ‘Why’ in S&OP: or How to Find More Meaning

Supply Chain Trend

Martin Seligman, pioneer of the positive psychology movement, writes in his 2002 book ‘Authentic happiness’, that there are three levels of happiness. The often supply chain oriented S&OP objectives like forecast accuracy improvement and inventory reductions will not really engage executives deeply. There is a lot of evidence that S&OP is hard to implement and get right.

S&OP 73

How the Coronavirus May Affect Your Supply Chain

Transplace

Coronaviruses are part of a strain of viruses that can cause the common cold or other respiratory illnesses, including the SARS outbreak of 2002. Container inventory may shift to an imbalance due to inactivity in China. How the Coronavirus May Affect Your Supply Chain. By: Mollie Bailey, VP, International, Transplace.

Trending: Effects of West Coast Ports Labor Dispute

Tompkins Blog

Shippers still bear the scars from the disastrous 2002 work stoppage and have countermeasures in-place to avoid major disruption. Even when factoring in an economy that is healthier than a year ago, these numbers suggest retailers are pre-loading Holiday inventory. By Chris Ferrell. Director, Tompkins Supply Chain Consortium. Retailers are paying close attention to labor disputes threatening to bring a stop to imports coming in to West Coast ports.

Three Reasons Why SAP Supply Chain Planning Is a Risk to Your Business

Supply Chain Shaman

When SAP launched APO in 2002, the optimization technologies were inferior to most best-of-breed technologies in the market. It bundles Integrated Business Planning, a Supply Chain Control Tower, Inventory and Demand/Supply planning into a new cloud-based architecture based on HANA. I am writing this blog post in the air, sitting in seat 4c, somewhere over the Midwest en route to Philadelphia. As I look below, I see field after field of United States farmland.

Podcast: Scott Donachie and Daniel Robin on the Evolution of Zero Waste

Requis

Later, starting around 2002, with some of the first Cleantech Venture Forums in Toronto, a small group of us investors realized it had become viable… the “new, new thing” The fact was then, and it’s still true today, that extracting inefficiency and waste is often really profitable.

Insights from Kenco Customer Summit 2015

Talking Logistics

From 2002 through today, the Consumer Price Index has increased 35.5 PINC’s patented RTLS sensor platform captures locations of assets and inventory, and can provide up-to-the-minute information that would allow Kenco to customize and segment yard operations based on customer needs and business rules.”.

Bio-based Products Future is Promising, but Hurdles Exist

Supply Chain View from the Field

The global apparel sector’s effort resulted in the development of the Higg Index, a universally accepted LCA tool and life cycle inventory database. The costs and time for individual firms to garner the life cycle inventory data from global suppliers can be cost prohibitive and time demanding. I had the opportunity to present at a hearing in Washington last week – this was a public meeting of the Biomass Research and Development Technical Sub-Committee.

What’s Your Plan if There’s a West Coast Port Strike?

CH Robinson Transportfolio

Or, will we see a repeat of 2002, when a 10-day lockout left dozens of ships lined up outside the West Coast docks, unable to unload? Communicate with the destination distribution centers and warehouses to ensure they have the ability to plan and receive the additional inventory. What’s Your Plan if There’s a West Coast Port Strike? Supply chains can face disruption from man-made events, as well as natural disasters.