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Top 10 Supply Chain Innovations of 2018

Material Handling and Logistics

After a year full of more scandals, indictments, political contentiousness, workplace violence, school shootings and natural disasters, maybe it’s time we all took a collective breath and focused on some of the positives that came out of 2018. We hope you enjoy this salute to the best of 2018, and we look forward to even more innovations in 2019. Top 10 Supply Chain Innovations of 2014 : hybrid DCs, 3-D prototypes, location-based inventory system, and more. Source ID.

Building a Triple A Supply Chain: Ten Tactics That Work

Supply Chain Shaman

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 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.

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Top 25 Supply Chains of 2018

Material Handling and Logistics

Our look at the Top 25 (plus 4) Supply Chains of 2018 examines how the best companies in the world excel at managing their global supply chains. So the CSR score too is more of a popularity contest than a consistent metric. So in 2018, McDonald’s joins Apple, Procter & Gamble and Amazon on a separate “Masters” list, as one of the “best-of-the-best.”. Source ID. Source ID. Source ID. Source ID. Source ID. Source ID. Source ID.

Why Financial Reengineering Does Not Equal Supply Chain Improvement

Supply Chain Shaman

Financial reengineering focuses on the optimization of short-term results that are usually based on a functional analysis of source, make, or deliver. Few consultants understand the interrelationships between source, make and deliver. Snow fell last night as I worked on my last Supply Chain Metrics That Matter report. Ironically, most companies are very entrapped in measuring and rewarding functional metrics which degrades overall improvement.

7 Key Factors that Underpin the Success of your Inventory Optimization Initiative

Supply Chain Opz

From the most basic to the most advanced organization, Inventory Optimization is a critical goal and one which underpins the effectiveness of the supply chain operation. Inventory Optimization requires an organization to sustain and maintain the right mix of cost versus service. In this article we will examine inventory optimization processes as part of a structured sequential journey and examine seven of the key factors in delivering the optimal mix of stock.

Gartner’s 2018 Top 25 Supply Chains List! Is it Still Relevant?

Supply Chain Game Changer

Gartner recently announced their 2018 Top 25 Supply Chains List. The 2018 Gartner Top 25 Supply Chain List. Inventory Turns 3. (10%). Source: Gartner. But overall most of the list was the same as 2017. In fact if you go back 5 years to 2013 you will find that most of the names are the same as on the 2018 list. Return on Assets (ROA) and Inventory turns are also a part of the scoring process. Further an Inventory turn of 1.0 Subscribe Here!

4 Ways Big Data is Changing Inventory Management

EazyStock

Variety – The different forms of data sources. The analyzed data is gathered from a variety of sources, including both software and hardware, and is collected from devices all over the world, ranging from jet engines and heavy equipment to solar powered trashcans and electric toothbrushes. Big data exists in real-time and involves prompt access to data, alerts and inventory management and control metrics through cloud computing systems.

Analysts Support a Single Model for Sales and Operations Planning

ToolsGroup

With a single version of the truth, planners can model scenarios for S&OP meetings, so stakeholders from sourcing, manufacturing, logistics, sales, and finance can assess the options and trade-offs. Companies can calculate the demand plan, project their inventory requirements, and compare scenarios to calculate the best balance of constraints and trade-offs.

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Overcoming obstacles to integrating finance with supply chain operations

Kinaxis

IBP helps achieve key performance indicators (KPIs) like sales, customer satisfaction, inventory level and other metrics outlined in the strategic plan. That in turn results in inventory issues, forecast inaccuracies and reduced profits, leading to falling stock prices and reduced shareholder value. Overcoming that challenge means developing meaningful and robust metrics that measure financial performance, and including them in S&OP operations.

The Fight of the Titans

Supply Chain Shaman

The field of supply chain management–combining source, make and deliver–into a common process started in 1982. Now in 2018, we are starting to see the evolution of “Gods” with new business models that are redefining supply chain processes. My caution is not so fast… 95% of companies are not making progress at the intersection of growth, operating margin, inventory turns and asset strategies. Figure 1: Supply Chain Metrics Are a Balancing Act.

Advanced Analytics Are Everywhere!

Logility

Today it seems like you can buy just about any type of device that supports analytics including; Toothbrushes that analyzes your brushing habits and alerts you to ways to maximize brushing through your smart phone; Wristwatches that tracks your every motion and provides performance metrics to help you meet your health and fitness goals; Refrigerators that monitor product usage and recommend when to buy milk or suggests new products based on actual consumption data; and.

Advanced Analytics Are Everywhere!

Logility

Today it seems like you can buy just about any type of device that supports analytics including: Toothbrushes that analyzes your brushing habits and alerts you to ways to maximize brushing through your smart phone; Wristwatches that tracks your every motion and provides performance metrics to help you meet your health and fitness goals; Refrigerators that monitor product usage and recommend when to buy milk or suggests new products based on actual consumption data; and.

One Man’s Trash: How Blockchain Can Target Food Waste to Help End World Hunger

Material Handling and Logistics

For organizations that source products from suppliers in remote regions, blockchain can provide clarity in an otherwise murky journey from harvest to retail. billion metric tons—gets lost or wasted. What’s more, net food losses in developed countries (222 million metric tons) equate to nearly all of the food produced in Sub-Saharan Africa yearly (223 million metric tons).

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Retail Inventory Shrinkage Remains a Problem

Enterra Insights

For the last few years, inventory shrinkage has annually cost U.S. ” Regardless of how inventory is lost, shrinkage costs retailers a lot of money. To reduce shrinkage, retailers need to have a strategy to address each of the ways inventory can be lost. Inventory shrinkage strategies. Addressing inventory shrinkage begins with inventory management. Trujillo explains, “Take the plunge and invest in an inventory management system.

Supply Chain Best Practices: Preparing for the Worst

Elementum

Potential Sources of Disruption. Identifying sources of risk and developing a plan are only part of the story. Establish appropriate metrics that correspond with the steps outlined in your contingency plan. What alternative plants/factories/sources of supply do they have at their disposal? With contingency plans in place, the company announced that it had a healthy inventory supply of finished products and did not foresee a risk to patient supply at that time.

Supply Chain Risks: Which Are Top of Mind Today?

Talking Logistics

The reality is that supply chain management is not just about managing orders and transportation and inventory — it’s about doing all those things while also navigating through the many risks that could disrupt your supply chain or bring it to a halt. Do we have the right Service Level Agreement metrics in place? If you were to add a subtitle to every supply chain professional’s job description it would be Risk Manager or Risk Mitigator.

Real-Time Monitoring Fuels IoT Growth In Manufacturing

IQMS

72% of manufacturers say real-time monitoring is essential for streamlining and making inventory reconciliation more efficient. Manufacturers in the high-performance cohort captured in our latest survey are using real-time monitoring to aggregate metrics and gain a 360-degree view of manufacturing operations accessible from any mobile or handheld device. Source: Capgemini Internet of Things (IoT) study, Unlocking the business value of IoT in operations.

Optimize Your Freight Spend Without Negotiation

Talking Logistics

We do strategic carrier sourcing and contract negotiation, but it isn’t always time to renegotiate your contracts. Michael answered his own question by pointing out that most companies have some combination of transportation management systems (TMS), warehouse management systems (WMS), order management systems (OMS) or an ERP that contain tremendous amounts of data that they can use to better understand service levels, freight spend, profitability, and many other metrics.

Supply Chains Need to Transform: Into What?

Enterra Insights

What is much easier to measure is cost — so that’s what drives the metrics and incentives.”[1] The cited passage reads, “Most CEOs continue to ignore supply chain management and sourcing. “A focus on business process alignment across functions, through horizontal processes like Revenue Management, Sales and Operations Planning (S&OP), Inventory Management, New Product Launch, and Supplier Development.”

Decoding the Language of Demand

ToolsGroup

It often employs statistical metrics like MAPE (mean average percentage error), which has hit a wall in recent years due to increased demand volatility and this approach's mostly backward-facing nature. Data sources for the forecast can include planned sales orders, customer contracts and intercompany standing orders. Demand signals can include downstream demand such as “sell out” or POS data and downstream inventory levels.

Supply Chain Collaboration – The New Way to Drive Value!

Supply Chain Game Changer

Supply chain collaboration is a hot topic today and no wonder: companies that collaborate effectively across the supply chain have enjoyed dramatic reductions in inventories and costs, together with improvements in speed, service levels, and customer satisfaction. As a sourcing manager, you may need to go outside your comfort zone to think about new, innovative ways to collaborate for achieving sustainability because Collaboration comes in more than one flavor! Subscribe Here!

Collaboration and Visibility in the Supply Chain

Oracle SCM

Often this data is rolled up organizationally, geographically or in distribution through performance metrics or key performance indicators (targets change with these roll ups). ROI for collaboration and visibility projects can be defined in many areas of the supply chain, and by way of example (real projects) I can more easily share the value: A large grocery retailer had negotiated complex, long term, vendor managed inventory (VMI) agreements with several consumer goods suppliers.

13 Reasons Why You Need a Global Transportation Management System (TMS)

3rdwave

From optimizing freight movements and controlling freight costs, to supply chain SKU transparency and optimal inventory management, the value proposition for global transportation management is substantial and significant. Gartner defines a TMS as “a software application that deals with the planning and execution of the physical movement of goods across the supply chain” ( Critical Capabilities for Transportation Management Systems , 2018).

50 expert tips on logistics planning and strategy

6 River Systems

NetSuite has launched a supply chain snapshot feature that’s a central part of any control tower that shows all of your inventory and related transactions with the ability to filter by subsidiary, location, etc. “Users can easily now look at your global or regional supply situation and quickly source alternates when required, but the key here is to practice your response. Sit down with your executive team and really brainstorm what metrics matter to your business.

5 ways TMS transforms Logistics Managers' jobs

Abivin

Automate the manual process Source It can be very time-consuming to do the repetitive work manually. Manage data and information in real time Source Thanks to TMS integration, you can perform data management and information management in real time. Enable a proactive approach towards supply chain management Source Why is this important? You are also equipped with a way to manage costs and handle internal metrics.

The Supply Chain Carbon Footprint Reduction Strategy

Supply Chain Game Changer

The processes, and the decisions that are made in managing those activities include Component selection, Supplier selection, Network creation, Node location planning, delivery requirements, and inventory levels amongst many other elements. Low cost sourcing is a predominant reason for this geographically dispersed network. Do they have a plan to get all of their energy needs from sustainable and renewable sources? Copyright Mortson Enterprises Inc, 2018.

5 fundamental ways to reduce Last mile Delivery Costs

Abivin

You can measure your fleet performance with 5 key metrics for last mile delivery. Source 1. Source 3. Source In this era of digital transformation, enterprises have incentives to integrate technology to coordinate deliveries. A complete and successful last mile operation requires appropriate fulfillment at the order management, inventory management, route optimization, distribution and shipping level.

Is it Advantage Organized Retail in India?

Logistics Trends and Insights

For more on Raghu and how to contact him with questions, sources etc. Amit Agarwal, the India head, had a ringside view of the China challenges as technical advisor to Jeff Bezos and ensured there was investment to start operations from the ground up with onboarding assistance for sellers, ability for consumers to pay cash on delivery and a relentless focus on the customer experience while their competitors were focused on different success metrics.

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Supply Chain Best Practices: Preparing for the Worst

Elementum

Potential Sources of Disruption. Identifying sources of risk and developing a plan are only part of the story. Establish appropriate metrics that correspond with the steps outlined in your contingency plan. What alternative plants/factories/sources of supply do they have at their disposal? With contingency plans in place, the company announced that it had a healthy inventory supply of finished products and did not foresee a risk to patient supply at that time.

7 Pitfalls of Amazon FBA (Fulfillment By Amazon)!

Supply Chain Game Changer

While FBA sellers weren’t held directly liable for this failure, thousands of FBA sellers were severely impacted when Amazon enforced last minute changes to their inventory storage policy just before the holidays. Amazon FBA Inventory Woes. The inventory that’s on the shelves and logged into the system is the inventory your 3PL warehouse can pick, pack and ship to your customers. Amazon FBA sometimes falls short in this crucial metric. Amazon FBA Inventory Swap.

How To Differentiate With A Supplier Relationship Management (SRM) Program!

Supply Chain Game Changer

In some cases, purely transactional suppliers in regional or out-sourced models may be placed below the level of “approved” in this model. The sourcing or procurement function will own the relationship and manage the overall process. Weekly and/or monthly communications address demand, purchase orders, inventory levels, deliveries, quality, and more. Subscribe Here! Email Address.

Decoding the Language of Demand

ToolsGroup

It often employs statistical metrics like MAPE (mean average percentage error), which has hit a wall in recent years due to increased demand volatility and this approach's mostly backward-facing nature. Data sources for the forecast can include planned sales orders, customer contracts and intercompany standing orders. Demand signals can include downstream demand such as “sell out” or POS data and downstream inventory levels.

Off to another exciting year of student-industry engagement at NC State on cutting-edge supply chain projects

NC State SCRC

In a prior post on 2018 supply chain predictions, I shared how NC State’s Poole College of Management engages directly with industry through student-led projects. Duke Energy Sourcing Automation through AI: Sourcing Optimization through technology and artificial intelligence are becoming more readily available within the Supply Chain industry. Lenovo Excess and Obsolete Inventory. MUFG Union Bank Strategic Performance Metrics.

Don’t Make These 8 Horrible Inventory Management Mistakes Before Halloween

EMERGE App

Not cleaning up the inventory skeletons in your closet can mean a difference between a ho-hum year and a bumper year. Here we’re going to cover some common inventory management mistakes that businesses make while winding up the year. Inventory Management Mistakes – 8 Horrors of Inventory Management. Let’s face off with these inventory management mistakes that may be lurking in your business right now. Horror 3: Disappearing Metrics.

Who Needs Quality Management?

Oracle SCM

With such an approach, companies are working in a sub-optimal manner, and then start to face these types of challenges: - Quality metrics are either not available or are incomplete. - Inability to view real-time metrics. Everyone knows that quality is an important topic.