Quantum Inventory Theory?

The Smart Software

The post Quantum Inventory Theory? Physics at the quantum level is quite weird – not at all like what we experience in our usual macroscopic life. Among the oddities are “superposition”, “entanglement”, and “quantum foam.”

Stop Leaking Money with Manual Inventory Controls

The Smart Software

An inventory professional who is responsible for 10,000 items has 10,000 things to stress over every day. The post Stop Leaking Money with Manual Inventory Controls appeared first on Smart Software.

Control Towers: If Only There Was A Clear Definition

Supply Chain Shaman

The focus is on functional metrics, but are unable to get to overall supply chain metrics. For example, only 29% of manufacturing companies can access total cost data and 31% struggle to see the impact of business decisions on inventory. We finished dinner.

Data 357

Metrics that Matter: Customer Service

QAD

Inventory accuracy and minimizing stockouts are very important to customer satisfaction, but a few other metrics also impact the ability to meet customer expectations. It’s easy to meet delivery expectations if you carry excess inventory, but it’s an expensive and impractical solution.

This Week in Logistics News (March 4-8, 2019)

Talking Logistics

More stringent customer delivery requirements is certainly one factor, with On-Time In-Full (OTIF) becoming a more critical metric. The post This Week in Logistics News (March 4-8, 2019) appeared first on Talking Logistics with Adrian Gonzalez.

Excess Inventory? No Problem. You Have Trailers In the Yard.­­

Talking Logistics

With the national warehouse vacancy rate hovering at record lows and warehouses bloated with inventory pulled in from China during 2018 to get ahead of impending tariffs, companies can combine flexible storage options with advanced technology to create an end-to-end supply chain solution that works. But even as developers have flooded the market with new inventory, some retailers are still having trouble finding adequate, flexible space. The post Excess Inventory?

Quick Start Guide to Using Machine Learning for Demand Planning

ToolsGroup

Without baseline metrics on what you want to improve on and why, how can you be confident your strategy is working? The company wanted to improve service levels and optimize inventories to reallocate working capital and balance inventory in the changing network.

6 Signs Your Business is Achieving Efficient Inventory Management

Unleashed

Did you know that better inventory management and control is one of the biggest parts of running a successful business and yet it is one that is often put on the back burner for misconceptions of that it is not a major profitable pursuit? Business owners know that holding inventory stock ties up a lot of cash, that’s why good inventory management is crucial for all businesses. When your inventory stock dips below the pre-set levels, you know it is time to order more.

How to Make the Most of Your Supply Chain Software

OneSCM

A: There are several new features that just became available in OneSCM in March, 2019: Supply Chain Orchestration – Several modifications were made to OneSCM to support an implementation through configuration methodology, allowing new and existing customers to configure new connections to the back-office systems without the need to develop new plugins. Inventory Visibility – Visibility into On-Hand and Vendor Managed Inventory.

Thrifty Inventory Management to Save Money and Increase Profits

Unleashed

This is all very well, however to achieve this goal, inventory management needs to be a focus. If inventory management is not considered carefully as a business improvement metric, then it can insidiously become a money trap which of course will simply erode any profits to be made. This is where efficient, lean and thrifty inventory management comes in. So, try to seek out the root cause of the problem as usually, that will fix any inventory management issues.

How Supply Chain Planning Can Create Profit in a Declining Market

ToolsGroup

They also cut inventory levels, grew sales and resolved capacity issues. Establish joint responsibility for inventory to reduce the risk of obsolescence. Mohawk continues to fine-tune its S&OP process to optimize inventory in the planning system.

Where Would We Be Without All of the BullS&%T?

Supply Chain Shaman

Progress on the key performance metrics of cost, customer service, inventory, and Return on Invested Capital (ROIC) are going backward; not forwards, for most companies. This would include rules like inventory matching, customer policy, Available-To-Promise (ATP) or allocation.

Where Would We Be Without All of the BullS&%T?

Supply Chain Shaman

Progress on the key performance metrics of cost, customer service, inventory, and Return on Invested Capital (ROIC) are going backward; not forwards, for most companies. This would include rules like inventory matching, customer policy, Available-To-Promise (ATP) or allocation.

The 3 Types of Supply Chain Analytics

The Smart Software

Each plays a different role in helping you manage your inventory. Modern supply chain software lets you exploit all three helping you to reduce inventory costs, improve on time delivery and service levels, while running a more efficient supply chain.

Supply Chain Planning in Emerging Markets: Four Points to Remember

ToolsGroup

Not knowing how much inventory is at each location. These large distances between demand centers increase the inventory exposure to maintain a consistent service level. Supply chain planning in emerging markets is different.

5 Considerations When Evaluating your ERP system’s Forecasting Capabilities

The Smart Software

Blog Business Policy Demand Planning Excellence in Forecasting Inventory Optimization Operational Analytics demand planning implementations ERP inventory modeling inventory optimization kpi metrics order management probabilistic modeling statistical forecasting supply chain analyticsConsider what is meant by “demand management”, “demand planning”, and “forecasting”.

Insights into ERP systems in supply chain planning and implementation

Kinaxis

It also looks at the inventory file that your planned order is coming in, purchase orders and shop orders that you’ve already got scheduled. by Dustin Mattison.

System 165

Understanding Your Safety Stock Calculations

Demand Solutions

At this point, you may be saying to yourself, "but carrying excess inventory is expensive!" If your business is one of them, what is the basis for your "rule of thumb" metric?

What’s Your Forecast Accuracy Target for 2019?

ToolsGroup

Many companies have already started their 2019 planning and budgeting cycles, so if you are in charge of demand forecasting for your company, it’s about time to thinking about your organization's 2019 goals. Inventory and CapEx required to support desired service levels. Editor’s Note: Two years ago we posted a blog about how to set an annual forecast accuracy target and it was one of our most popular topics.

Drivers of Modern-Day Warehouse Management System Adoption

Veridian Solutions

Inventory Visibility and Optimization, Including Reslotting and Order Streaming. Staying competitive with Amazon , Walmart, Target and other Big Box retailers requires an unmitigated level of inventory visibility and optimization.

Walmart again Raises Chargeback Stakes

Enterra Insights

Reporting on this development, Jennifer Smith ( @jensmithWSJ ) and Sarah Nassauer ( @SarahNassauer ) write, “Looking to cut inventory while meeting e-commerce demands, the retailer wants more of the goods it orders delivered on time and in full. ” The changes are set to take effect by May 2019. He asserts, “Suppliers just need to figure out the best way to improve their supply chain and logistics so that they can hit a metric to improve the flow of inventory.”[5]

KPI 109

5 Crucial Software Every 3PL Company Needs To Have

Abivin

Monitoring inventory well can prevent wasted costs and time as small business owners spend 30% more operating excess inventory. Second is start-to-end tracking: the software follows inventory from the initial order to the final delivery. 2019).

3PL 60

What’s New with MMOG/LE Version 5?

QAD

supplier selection and assessment, new product launch, use of metrics in the supplier assessment process). supports version 4 today and will support version 5 by summer 2019. What is MMOG/LE?

26 logistics professionals reveal the biggest trends in logistics technology

6 River Systems

“Artificial intelligence is going to have a large impact on logistics in 2019…” . AI will be able to survey an area or room and create an accurate inventory in seconds, including weights and volumes, and determine damage on items.

3PL Fulfillment Prices! (Infographic)

Supply Chain Game Changer

Data from 2017 to 2019 polls conducted by FulfillmentCompanies.net shows that the main costs for an outsourced fulfillment company, warehouse leases and employee wages, have both risen from 2017 to 2019. Inventory shrinkage decreased from the previous year to an average of 1.26%.

3PL 60

Top 5 features to look for in a Transportation Management System (TMS)

Abivin

By incorporating TMS information with other inner sources of data, such as ERP and WMS or OMS, the businesses can attain approximately real-time visibility into products from purchase through inventory and transportation. Retrieved 2019, from [link] 2. Retrieved 2019, from [link] 3.

E-commerce and the Digital Path to Purchase

Enterra Insights

”[4] To help retailers think about what comes next, Aaron Orendorff ( @AaronOrendorff ) asked leaders “from brands at the forefront” for their insights about the question: “What is the future of ecommerce for 2019 and beyond?”[5] By every big-picture metric, social media and ecommerce should be a match made in heaven. … Attempting to unite channels without properly setting up and maintaining inventory and order management is futile.”

Green Logistics: How to deliver efficiently while minimizing carbon footprint

Abivin

As the logistics process includes transportation and resources, the whole process also needs some other major activities like inventory management, procurement, warehousing, order fulfillment and distribution.

Seeking Logistics Perfection

Enterra Insights

They explain, “If a company scores an impressive 99 percent in all four categories measured by the standard Perfect Order Metric (POM) — complete, on time, damage-free, proper documentation with correct invoicing — the result would be a POM score of just 96 percent. transportation modes, inventory deployment, and policies) by balancing the trade-offs between customer service requirements, assets and costs.

How to Maximize WMS to Increase E-Commerce ROI

Veridian Solutions

Lack of visibility in data and inventory. Understanding the data behind the action, including employee performance, cycle times, metrics, and other key performance indicators will enhance ROI.

Consumer Shopping Preferences are Driving Changes in The eCommerce Sector

Unleashed

Different channels can offer different opportunities, for example, some are great for strong sales, while others are good for introducing a product to the market and some for ridding yourself of obsolete inventory stock. Choose a software system that integrates inventory stock with your online store as well as your physical location. Start gathering data on consumer buying behaviours and keep track of metrics so you can make necessary adjustments in any area that is not performing.

Procurement Interview Questions & Answers

Supply Chain Game Changer

Which are the key Procurement metrics? Therefore, the optimal procurement metrics for one organization may not be the optimal procurement metrics for another organization. Subscribe Here! Email Address. The Negotiation Before the Negotiation!

Artificial Intelligence in Supply Chain

3PL Insights

This technology is helping to lower costs, increase productivity, and improve key performance metrics. Drones are even playing a part in inventory management. Inventory management is a time consuming and error-prone process.

Surgery Center Case Study: Less Time at Computer, More Time in OR

Hybrent

When I would get ready to place orders, I‘d have to go to each of four different departmental supply rooms, manually check the number of supplies in inventory and write down what I wanted to order,” Crow explains. SITUATION. Springhill Surgery Center, based in Little Rock, Ark.,

Healthcare Supply Chain Software: Features You Need

Hybrent

Inventory Management. Healthcare supply chain management software takes the guess work out of inventory because it is directly tied to ordering. That means inventory is updated in real time to reflect when items are ordered, in stock, or on back-order. This allows you to access metrics and detailed spend analysis quickly and easily, allowing you to gain insights and make decisions to optimize your business.

25 supply chain experts reveal the best tactics to optimize a supply chain

6 River Systems

“Hire an experienced supply chain manager…” Technology, metrics and systems are crucial, but the importance of experienced leadership and a clarified expectation for operational excellence cannot be overstated.

Hospital Supply Chain Management Software: 8 Features You Need

Hybrent

Inventory Management. Hospital supply chain management software takes the guess work out of inventory because it is directly tied to ordering. That means inventory is updated in real time to reflect when items are ordered, in stock, or on back-order.