Remove 2014 Remove Inventory Remove Procurement Remove Sourcing

10 Commandments of Inventory Management

Supply Chain Opz

Inventory management is one of the most important tasks for supply chain management professionals. However, most inventory control theories are too complicated or too difficult to apply to real world situations. Then, this article will show you 10 simple principles that you can use to streamline your inventory management practices right away. 3) Forecast at the right level Standard inventory management textbooks suggested that forecast be done at a product family level.

Innovative Approaches to Supply Chain Risk

Kinaxis

This key supplier had been identified and sure enough, you have a second source primed and ready to go. A few hours later, your procurement head walks in the office. “We We have a problem.” The alternate source uses the same supplier in Taiwan. Adding to this challenge is the reluctance of suppliers to share their sources with their customers for competitive reasons. Efficiency programs like lean drove us to reduce suppliers and cut inventory.

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Upstream Unconventional Oil and the Chemicals Used in Drilling: A Supply Chain in Need of Improvement

Logistics Viewpoints

Business Intelligence Chemical Industry Inventory Management Mobile Technologies Procurement/Sourcing Unconventional Oil includes shale oil and oil from tar sands. In producing oil, chemicals are injected into the ground to increase flow. The amount of chemical treatment is tied to the oil and gas production rates; treatments need to be adjusted as production rates vary. In many situations production treatment chemicals represent the second highest […].

How Does Procurement Create Value? Insights from CPO Speakers at Zycus Horizons Conference

Supply Chain View from the Field

I was attending the Zycus Horizons 2014 conference at Amelia Island today, listening to speakers. In addition to the procurement executives, I also got to meet Captain Dick Phillips, the captain of note in the film “Captain Phillips” We had a chance to talk about his experience, and he also presented to the group about the incredible experience he went through. Does procurement add to top line revenue.

Experts Discuss How to Streamline Global Supply Chain

Supply Chain Opz

Whether you''re a manufacturing company in China, a sourcing agent in London or a world''s leading company in Silicon Valley, we''re all in a global supply chain networks. Research from APQC’s Open Standards Benchmarking in procurement shows that organizations without formal SRM programs report 121 percent longer supplier lead times. Reducing lead times from suppliers can help turn inventory faster, freeing up cash and ultimately satisfying customers.

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Why the supply chain should be more social

The Network Effect

Or a personal health situation arises like a batch of peanut butter becoming contaminated with salmonella or children’s toys being contaminated with lead paint, where the regulators have difficulty identifying the source of the problem several tiers upstream in the supply chain. It is increasingly common to find that the company whose brand name is on a product never actually takes inventory of the item before it is sold to a customer.

Misnomer

Supply Chain Shaman

The team was organized around the functional silos of source, make and deliver. I also believed that this company would have the best inventory and customer service. Instead, we found that the companies with the lowest total supply chain cost (a total of source, make and deliver) had average costs in manufacturing and distribution. Today, 60% of sourcing organizations and 45% of manufacturing organizations report through the supply chain organization.”

Winning Student Posters Focus on Visibility, Total Cost of Ownership, and Procurement Processes

Supply Chain View from the Field

Bayer Crop Science – Internal Procurement Audit – Undergraduate Team: Hamilton Brewer, Emily Ciriano, Scott Gray. Strategic Sourcing Manager – Tires, Wheels, and Mounting Systems. Inventory Management MBA Supply Chain Strategic Cost Management Supply Chain Risk Supply Chain Students Supply Chain Talent Supply Chain Talent Management Undergraduate Supply Chain Market Intelligence Supply Chain Supply Chain Disruptions

The Origins of Category Management

Supply Chain View from the Field

I was involved in inventory control area on what they used to call “residual parts”, which were leftover parts that you ended up trying to sell into the service parts organization. They would bid and source only part at a time! Category Management Commodities forecasting Contract Management Global Supply Chain Procure to Pay Strategic Cost Management Strategic Sourcing Supplier Relationship Management Supply Chain Economics Supply Chain Strategy

SCRC Student Project Lineup Off to a Great Start…

Supply Chain View from the Field

Students will learn core processes around initial exploration and assessment of supply chain relationships, establishing metrics/expectations for the relationship, crafting and managing contracts, and sustaining continuous performance improvement in sourcing, logistics and operations. NC State kicked off classes last week, and as usual our incoming group of MBA students were lined up with projects as part of their entry class into supply chain management, MBA 541.

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Do No Harm…

Supply Chain Shaman

Despite two decades of advancement in supply chain technologies, companies are struggling to gain balance at the intersection of operating margin, inventory turns and case fulfillment. Recently, I spoke to a major European retailer that lost 5% of their grocery revenues to Amazon in the first quarter of 2014. These tools allow us to look at sell, source, make, and deliver together.

An Interview with Reshoring Initiative’s Harry Moser

CH Robinson Transportfolio

That article, from August 7th, 2014, What It Takes to Reshore Manufacturing Successfully , begins, “Rising labor costs in China and other emerging economies, high supply chain and logistics costs, and wide differentials in the costs for electricity and natural gas in different parts of the world are provoking a fresh round of relocation of manufacturing and production.”. There are many names for it: localization, near-shoring, reshoring, and onshoring.

3D Printing Set to Streamline the Retail Supply Chain Through Reduced Lead Times and Inventory

BluJay Solutions

The attractiveness of 3D printing for manufacturers and retailers/distributors centers around reducing both lead times and the risks involved in holding inventory. Anyone involved in retail procurement is acutely aware of the importance of correctly predicting consumer/end-user requirements and ordering the right goods at the right time, in the right quantities. Utilize 3D printing to product a compatible power source for a batch and find out.

Handfield’s Supply Chain Analytics Predictions for 2014

Supply Chain View from the Field

I’ve had the good fortune to be presented with opportunities for compelling discussions with a significant group of leading thinkers, senior executives in procurement, logistics, and technology management over this past year. As 2013 comes to a close, here are some of my thoughts regarding the supply chain trends we are likely to see emerge in 2014. Procurement will play a key role in monitoring supply base conditions. 2013 has certainly been an interesting year!

Visualizing Supply Chains in Distress

Supply Chain @ MIT

But persuading managers, and notably procurement professionals, to build supply chain risk into their decisions can be an uphill battle. Often procurers are so tightly focused on purchasing costs that they ignore how even low-spend components can incur high financial penalties if supplies are interrupted. A visual representation of the risks is a powerful way to educate procurement managers on the broader implications of their decisions.

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Solving the Emerging Market Packaging Puzzle

Supply Chain @ MIT

Packaging shields products from damage and theft, differentiates the brand, and is a source of information for consumers. Various inventory carrying costs associated with packaging also have to be allowed for. The inputs for Model One, for example, included historical demand data for the selected products and related packaging/inventory costs. This article is published in the spring 2014 issue of Supply Chain Frontiers.

Does Your Business Suffer From any of These Five Profit-Killing Confusions

EFT

In many companies the responsibility for purchasing, procurement, strategic sourcing is divided between the operational business units and, the strategic sourcing department or the purchasing department or the procurement department or whatever they are called. Customers look at all these extra inventory and start asking for pricing discounts; they believe that the company is not able to sell as much as they are buying or producing.

Supply Chain Management:E-retailers exploring same day delivery

Infosys Supply Chain Management

Sourcing & Procurement. Sourcing & Procurement. ProcureEdge – Sourcing & Procurement. Traditionally supply chain model for e-retailers has been to stock inventory at downstream i.e. Distribution Centers (DC). The DC becomes the single source of supply for carriers to serve certain geographic area for direct customer delivery. To have centralized inventory visibility. · No centralized inventory visibility.

Supply Chain Management:ERP in Cloud - Hype or Hope!!!

Infosys Supply Chain Management

Sourcing & Procurement. Sourcing & Procurement. ProcureEdge – Sourcing & Procurement. During peak processing periods - like year closing activities, balance sheet preparation, inventory reconciliation etc. Typically, organizations have a very high lead time for procuring hardware and setting up networks. Posted by Praveen Kumar Agrawal on March 6, 2014 12:45 PM | Permalink. Procurement Blog. April 2014.

Supply Chain Management:Why not WMS App? - Infosys Blogs

Infosys Supply Chain Management

Sourcing & Procurement. Sourcing & Procurement. ProcureEdge – Sourcing & Procurement. Todays WMS is a tightly integrated code between the intrinsic WMS functions like receiving, put away, inventory, picking, packing and shipping, which are the primary functionalities. It does away with difficult and costly upgrades, without any risk of source code modification. Posted by: Sandeep Bhosale | January 15, 2014 1:35 AM.

Made in “I Really Don’t Know”

Talking Logistics

As first reported by Fairfax Media , a factory in North Korea has been making high-priced surf and snow gear for Australian surfwear company Rip Curl since at least 2014, with the garments labeled “Made in China.” As reported in USA Today : [In a sourcing practice nicknamed “China plus one”], big brands like Rip Curl send their specifications — what they want made and how much they’re willing to pay for it — to sourcing agents, who find factories that agree to fulfill them.

Supply Chain: The True Game of Risk

Supply Chain Shaman

The rising complexity of items sold decreases the organization’s ability to forecast, and the longer lead times across multiple tiers of sourcing and supply, increases the bullwhip impact (distortion of the demand signal across multiple tiers of the value network). In 2014, 70% of companies experienced three business discontinuity events with at least one resulting in a material impact to the balance sheet resulting in financial reporting. Focus on Multi-Tier Inventory Management.

A “Swiss Army Knife” of Supply Chain Talent Requirements: Views from a Former Wolfpack Student

NC State SCRC

He became a director at that point, working with sales planning, inventory planning, and financial planning, and pulling together the Sales and Operations Planning team, as well as introducing new products and eliminating obsolescence. By 2014 and 2016 revenue was back up to almost its previous high point. In 2013 we had $8M of raw material inventory – due to poor purchasing, poor safety stock decisions, and a lot of WIP in the system.

Time to Squeeze Carriers for Better Rates?

Talking Logistics

So, that tells me that the inventory situation continues to weigh on truck freight volumes. percent from December 2014. percent compared to Q4 2014. Other data sources, however, suggest the market is in good balance. We’ve produced several Talking Logistics episodes related to transportation procurement (see links below), with each guest providing great insights and advice on the topic. Leading Practices in Transportation Procurement.

Recognizing Culture at the 2020 Atlanta Supply Chain Awards

Demand Solutions

But what if I told you that establishing supply chain planning and procurement processes also helps your company's culture, would you believe me? Tim was recognized for his exceptional leadership of the supply chain planning and procurement processes teams. They're the teams responsible for forecasting inventory requirements, managing inventory replenishment functions and sourcing inventory from suppliers.

Building a Triple A Supply Chain: Ten Tactics That Work

Supply Chain Shaman

” Hau Lee, October 2014. Over the last six years, we studied the connection between business results (growth, operating margin, inventory turns and Return on Invested Capital (ROIC)) and the link to company characteristics. We like the metrics of growth, on-time and in-full orders, operating margin, inventory turns, and Return on Invested Capital (ROIC). Successful network design strategies are holistic crossing the boundaries of source, make and deliver.

The Strategic National Stockpile that Failed Us

NC State SCRC

ii] We observed an intense and immediate response by the Joint Acquisition Task Force to rapidly source supplies and quickly institute a robust vendor risk assessment process. health care system and risks in a supply chain dependent on global sourcing, would buffer the country from unanticipated disruptions. Procurement’s Value Proposition, London: Kogan-Page; 2014. [ii] Levellers Press; 2014. [i]

Why Blockchain Within The Supply Chain Makes Perfect Sense

Cerasis

Instead of having to deal with an ineffective point-to-point communication system like EDI and the complexity of reconciling multiple data sources with multiple permission models, Distributed Ledger Technology (DLT) provides a singular mechanism to securely integrate, harmonize, and synchronize data for all participants. Outcomes: improved inventory management; More accurate determination of re-order points; Better on-shelf availability.

Supply Chain Management:Increase in Operational Efficiency.

Infosys Supply Chain Management

Sourcing & Procurement. Sourcing & Procurement. ProcureEdge – Sourcing & Procurement. One of the biggest time consuming and mundane activities in warehouse management is the pick up of inventory and the appropriate shelving of inventory. Imagine picking up inventory from the warehouse without having any paper lists or even any barcode scanners. Procurement Blog. January 2014. About Us. Contact Us.

Drop Shipping: A Perfect Fit for Supply Chain Operating Networks

Talking Logistics

As reported last month by Jennifer Smith in the Wall Street Journal , “A growing number of retailers are relying on suppliers to ship online orders directly to customers, a strategy they hope will help them compete with e-commerce rivals without spending more on inventory. inventory, orders, shipping) and synchronization of activities across multiple trading partners. Source: RevCascade website.

Ariba: At the Intersection of Social and Business Networks

Talking Logistics

Last week at the Ariba LIVE 2013 conference, I led a discussion session titled “At the Intersection of Social and Business Networks” with about fifty senior executives in supply chain and procurement. The most interesting part, however, is how Ariba is integrating its online user community ( Ariba Exchange ) into its user interface and leveraging it as another source of network intelligence. Why Ariba is looking to expand into supply chain, logistics, and inventory management.

8 Reasons Why Your Business’ Success Depends Upon Your Supply Chain

Logistics Bureau

According to a survey by Deloitte from 2014, 79 % of companies with high-performing supply chains achieve revenue growth superior to the average within their industries. In 2014, a survey by Tompkins Consortium delivered a shocking revelation. Pioneered the use of vendor-managed inventory. Implemented cross-docking in its supply network to enable inventory reductions. Inventory shortages. Procurement costs. Inventory and storage costs.

Manufacturing Gains From Machine Learning

IQMS

Source: Smartening up with Artificial Intelligence (AI) – What’s in it for Germany and its Industrial Sector? (52 Asset Management, Supply Chain Management, and Inventory Management are the hottest areas of artificial intelligence, machine learning and IoT adoption in manufacturing today. Source: Technology and Innovation for the Future of Production: Accelerating Value Creation (38 pp., Source: Digital Factories 2020: Shaping the future of manufacturing (48 pp.,

6 Manufacturing Trends to Watch Out for in 2016

Cerasis

Instead of setting up brick-and-mortar stores, or keeping inventory on hand, you can start offering this new product on your new store. Manufacturers will be able to improve their inventory due to the information presented by both supply chain and operations data. According to the International Federation of Robotics : In 2014, robot sales increased by 29% to 229,261 units, by far the highest level ever recorded for one year.

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6 Common Supply Chain Mistakes and How to Resolve Them

AFFLINK

The cost of recovery from a disruption in procurement management depends on factors such as supply source, volume, manufacturing location and inventory. Supply chains that rely on a single source are now more likely to experience disruptions. Supplies without an alternate source can become a single point of failure for the supply chain. Rewards such as cost savings, time to market and inventory turnaround also contribute towards short-term goals.