Supply Chain Disruptions Are New Opportunities – LogiSYM October/November 2020

The Logistics & Supply Chain Management Society

Arising from the pandemic is risk diversification i.e. reducing sourcing risks from China. Many are now actively pursuing opportunities to diversify sourcing and reduce the China risk factor. LogiSYM Supply Chain Magazine – October/November 2020.

Surviving Disruptions – an opportunity for supply chains to thrive with people and technology – LogiSYM July 2020

The Logistics & Supply Chain Management Society

This has proved to be a major source of risk. Poor business continuity planning, lack of risk management programs and single source suppliers, have magnified the impact of such risks. A significant paradigm shift in procurement and inventory control is an emerging area of focus.

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Reimagine Supply Chain of the Future – agile, resilient, and balanced – LogiSYM July 2020

The Logistics & Supply Chain Management Society

This year (2020) when they cancelled the Tournament, they stand to get 144 mil $ from Insurance company. Diversify supplier base : Supply chain should not be overly dependent on long lead-time or on a small pool of specific suppliers or sourcing regions. – LogiSYM July 2020.

The Future of Supply Chains Post COVID-19 – LogiSYM July 2020

The Logistics & Supply Chain Management Society

But companies will have to go beyond the usual inventory optimisation. . Sourcing strategies will focus on risk-free, nearshoring supply base with long term partnership with TCO-competitive suppliers, who value sustainability. . LogiSYM Supply Chain Magazine – July 2020.

Capitalising on Supply Chain Digitisation with Robotic Process Automation – 10 Areas of Opportunities – LogiSYM August 2020

The Logistics & Supply Chain Management Society

Procurement can also have RPA do dynamic searches of websites to source or conduct market research for future buys and tenders. Inventory Management. Regardless of how efficient and effective, all supply chains carry inventory. Article August 2020

What Happens to Retail in Fall 2020?

Logility

As retail companies enter the traditional “back-to-school” selling season, we must acknowledge there is nothing traditional about BTS 2020. Organizations across the world have been forced to pivot selling and inventory strategies to address the many issues brought on by Covid-19.

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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. The source of this data is a syndicated data provider of public reporting termed “Y-Charts.”). Days of Inventory Peer Group Across Time Periods. So, why have we not reduced inventory?

Make Freight Sourcing More Efficient!

Supply Chain Game Changer

Freight sourcing team article and permission to publish here provided by Katharine Barrios at xeneta.com. Freight sourcing and procurement is a critical component of the whole supply chain and is crucial to the success of the business. In order to achieve maximum efficiency in freight sourcing and procurement, you need a strong team to handle the requirements. These are the must-haves for any effective freight sourcing team. Subscribe Here! Email Address.

Consignment Inventory Management: The Complete Guide

EMERGE App

There are different ways for retailers to get and sell their inventory. The most common being where a retailer purchases their inventory and stocks it in their warehouse for the customers to buy. However, consignment inventory can be a risk-free option for the retailer.

Bristlecone Flash – October 2020

Bristlecone

With extreme demand volatility felt across industries and traditional demand forecasting methods becoming completely unreliable in 2020, companies are now turning to AI and machine learning (ML) to help steer strategic decisions pertaining to demand forecasting.

What is Inventory Shrinkage?

Supply Chain Game Changer

Featuring Our 10 Best Inventory Management Articles! Inventory Shrinkage article and permission to publish here provided by Jake Rheude at redstagfulfillment.com. There are many terms for inventory shrinkage: warehouse shrinkage, product shrinkage, loss of product.

COVID-19: Implications on inventory planning, sourcing and procurement

EFT

It has been a huge challenge to understand what is changing moment-to-moment, let alone predicting what will happen, so eft by Reuters sat down in a webinar with experts working at the coalface of inventory planning and distribution to understand what can be done to survive and thrive. Visibility is the centrepiece … not only in terms of where my inventory is, in which channel, and where to move it, but also in consumer demand, and how can I be ahead of that game and forecast the demand?”

Process Based Inventory Turnover Improvement!

Supply Chain Game Changer

Featuring Our 10 Best Inventory Management Articles! Inventory management is a critical area for most companies. Too much inventory, especially the wrong inventory, can negatively impact cash flow, return on investment, customer satisfaction, and profitability.

Why investors are looking at supply chain technologies in 2020

Requis

Since the coronavirus pandemic took hold earlier in 2020, supply chain has become a household word. That’s where a lot of the money had been deployed up until March 2020. The post Why investors are looking at supply chain technologies in 2020 appeared first on Requis.

The Great Gap Year of 2020

Bristlecone

Today, with nearly two-thirds of the pandemic-hit 2020 over, there is now much anxiety and uncertainty about the coming year. I prefer to think: 2020 is only the beginning, the best is yet to come. I would like to define and remember the year 2020 as the Great Gap Year.

Melitta: Collaborating for an Improved Forecasting Process

ToolsGroup

The process brings together all the plans for the business (sales, marketing, development, manufacturing, sourcing, and financial) into one integrated set of plans.” Blog demand forecasting inventory optimization supply chain planning Image: coffee equipment in kitchen

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

6 River Systems

This compilation is based on the most currently available company revenue data (between 2018 and 2020) without factoring in any other metric. Revenue data is sourced from the companies’ websites and market research platforms such as Macrotrends.

Podcast: Rob O’Byrne on Digital Transformation, Sustainability, and Diversification in Sourcing

Requis

Sourcing has probably been the biggest thing over the last decade or two, coupled with that reduction in local manufacturing of course. Sourcing is now predominantly overseas: China is one of the big sourcing countries of course, along with India, Pakistan and Bangladesh, Vietnam and Thailand.

5 Tips to Improve Omnichannel Inventory Management

Unleashed

That includes the importance of robust inventory management to retail. Ensuring you don’t fail at order fulfilment begins with understanding your inventory and supply chain. In an increasingly complex eCommerce world, keeping track of inventory is tricky. Many brands are turning to omnichannel inventory management to meet the challenge. We’re going to share five tips to help you make omnichannel inventory work for you. What is Omnichannel Inventory Management?

Recognizing Culture at the 2020 Atlanta Supply Chain Awards

Demand Solutions

This past March, Tim Carroll, Product Availability Team Captain at AutomationDirect, was presented the 2020 World-Class Culture Award at the Atlanta Supply Chain Awards (ASCA). They're the teams responsible for forecasting inventory requirements, managing inventory replenishment functions and sourcing inventory from suppliers. Tim leads by example and embodies the unique company culture that is represented in the 2020 World Class Culture Award.

IBP Scenario Modeling for Recovery, Restructuring and Resilience

AIMMS

Today’s business reality is constantly shifting. Organizations that are running an IBP process right now are in a better position than others to deal with this uncertainty. Those that also leverage scenarios in IBP are even better prepared to deal with the supply chain shocks caused by COVID-19.

Tips for Getting Executive Buy-in for Supply Chain Planning Software

ToolsGroup

For example, instead of simply stating forecast accuracy improvement as a benefit explain how this will ultimately reduce inventory and working capital and increase service levels. Benefits realized include optimizing inventory requirements associated with safety stock, increased forecast accuracy that aids a better production plan, in-stock improvements, and supporting new product and promotional items.” Blog demand forecasting Featured inventory optimization

Improving inventory management

EFT

What’s more plenty on the retail side have found themselves with held inventory but it suddenly locked away in stores that people could no longer frequent, browse and shop from. In his opinion the way you do that is “By putting inventory close to customers.

Trends and Predictions 2020: Supply Chain

Enterra Insights

Supply chains will be able to procure, source, manufacture and handle logistics across a broad array of players including small to medium businesses. Intelligent order management: Supply chains will orchestrate the perfect order and master inventory visibility. … Supply chains of the future will enable an intelligent order management system — working on your behalf, across multiple partners — to orchestrate demands in real time from source to delivery to returns.”

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The World’s Largest Brands Are Using Inventory Accuracy and Yard Automation to Fight COVID-19 Chaos

PINC

In an uncertain world where supply chain disruption is becoming a certainty, here’s how good inventory management enabled by automation can help companies gain the supply chain visibility they need to keep the wheels turning. Whether they’ve sent their workforces home to work remotely, scaled back their operations, or scrambled to find alternative supply sources, organizations across all industries are implementing new measures to offset the impacts of COVID-19.

Why Inventory Revaluation Is Your Next Important Task

Unleashed

All product-based businesses need to track the value of their inventory – and this goes double in a period of dramatic upheaval. The value of your inventory has likely changed thanks to the Covid-19 crisis, and you should consider revaluing it before you make any major business decisions. What is inventory revaluation? Inventory revaluation is the adjustment of the costs of inventory to reflect changes in the recorded cost. Your inventory becomes obsolete.

Bed, Bath & Beyond – Second Quarter 2020 E-commerce & Supply Chain Initiatives

Logistics Trends and Insights

Omnichannel capabilities including inventory and warehouse management capabilities such as advanced allocation logic and replenishment strategies to improve customer experience. Focus on strategic sourcing – A newly formed procurement organization will drive anticipated savings by designing and implementing centralized spend control and vendor management processes across all areas of indirect spend.

Causal Forecasting Brings Precision to your Forecasting

Logility

You can be proactive and use c ausal f orecasting to leverage data you already own, model additional data sources that could help explain demand variability… or do nothing. . Phone * Company * Job Title * Zip Code * Source Asset Source Download ID.

Kickstart Your Machine Learning Investment with These 3 Initiatives

Logility

Multi-Echelon Inventory Optimization (MEIO): Using the latest demand and supply information, machine learning can enable continuous improvement in your company’s ability to meet a desired customer service level with the lowest inventory investment.

Bristlecone Flash – March 2020

Bristlecone

RAPID DEPLOYMENT SOLUTION CAN TRANSFORM SOURCING IN JUST SIX WEEKS. With AribaRDS, businesses can transform global sourcing, gain visibility, reduce cycle times and start achieving procurement savings with SAP Ariba Sourcing in as little as six weeks with minimal downtime – and at a price point that won’t break the bank. The post Bristlecone Flash – March 2020 appeared first on Bristlecone.

History Repeats Itself Without Supply Chain Leadership

Supply Chain Shaman

Tom, the colorful warehouse manager, constantly heckled Frank for the increasing inventory levels while Ed, the quiet material/logistics manager, constantly questioned if there was a better way. He felt that inventory was no problem, he would just cut it at the end of each quarter to make the balance sheet goals. I am currently writing the Supply Chains to Admire report for 2020. Inventory Management market-driven value chains

Inventory Visibility – Beyond ERP

TPSynergy

Inventory Visibility. Inventory is a key part of any business. Manufacturing, Distribution businesses depends on availability of correct inventory. Important feature of inventory is its visibility. If the inventory lies in a corner of the warehouse and not visible to Planners, it will add to inefficient resource utilisation. ERP and Inventory Visibility. Most of the business today, depends upon their In-house ERP system for inventory visibility.

McDonald’s Mesoamérica Supply Chain Response to COVID-19

ToolsGroup

If you do the math there, you have to make 748,000 inventory decisions per month. So our main task now is to consolidate all the purchase and inventory decisions in one team. So Honduras suddenly stopped, and we had so many items in transit, so right now we’re overstocked by 140%, and we’re trying to deal with that using external sources. We had to transfer and move inventories from one place to another, trying to save them as much as possible.

Is Demand Sensing Right for your Business?

Logility

Studies have shown that, on average, demand sensing reduces forecast error by up to 50%, increases inventory accuracy by up to 20% and optimally deploys downstream inventory. Here are some examples of appropriate data sources for building a better short term, demand-sensitive forecast: Internal sources. External sources. Switching from a long-term planning forecast to a daily demand forecast enables better near-term inventory allocation decisions.

Dealing With The Supply Chain Gloppy Mess

Supply Chain Shaman

While many companies attempt to improve the response by being reactive on traditional data sources, this is not the answer. The focus is on improving decisions through bi-directional orchestration market-to-market using the channel insights, logistics signals, and sourcing market data.