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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 MORE
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. MORE
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. MORE
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. MORE
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. MORE
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? MORE
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 MORE
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?” MORE
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. MORE
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. MORE
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. MORE
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. MORE
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. MORE
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. MORE
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. MORE
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. MORE
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. MORE
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. MORE
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. MORE
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. MORE
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. MORE
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. MORE
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. MORE
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 MORE
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.” MORE
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. MORE
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. MORE
Slowing demand means 6% lower imports from the GCC vs 2019 and 10% lower than 2020 forecast before the virus outbreak.” Realising operational and cost efficiencies will reduced lead times, improved forecast accuracy and increased inventory turnover. Successful collaboration will result in several benefits – reductions in lead times, improved in-stock fill rates, improved forecast accuracy, and increased inventory turnover. Article September 2020 MORE
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. MORE
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? MORE
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. MORE
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. MORE
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. MORE
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. MORE
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 MORE
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. MORE
The Logistics & Supply Chain Management Society
NOVEMBER 23, 2020
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.
The Logistics & Supply Chain Management Society
JULY 21, 2020
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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The Logistics & Supply Chain Management Society
JULY 22, 2020
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 Logistics & Supply Chain Management Society
JULY 22, 2020
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.
The Logistics & Supply Chain Management Society
AUGUST 20, 2020
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
Logility
SEPTEMBER 1, 2020
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.
|
Supply Chain Shaman
JUNE 12, 2020
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?
Supply Chain Game Changer
OCTOBER 29, 2020
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.
EMERGE App
NOVEMBER 16, 2020
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
OCTOBER 29, 2020
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.
Supply Chain Game Changer
JULY 30, 2020
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.
|
EFT
MAY 1, 2020
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?”
Supply Chain Game Changer
SEPTEMBER 29, 2020
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.
Requis
JULY 24, 2020
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.
Bristlecone
AUGUST 17, 2020
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.
ToolsGroup
NOVEMBER 2, 2020
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
6 River Systems
JULY 29, 2020
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.
Requis
OCTOBER 30, 2020
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.
Unleashed
JUNE 24, 2020
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?
Demand Solutions
MARCH 27, 2020
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.
AIMMS
NOVEMBER 9, 2020
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.
ToolsGroup
JUNE 15, 2020
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
EFT
AUGUST 7, 2020
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.
Enterra Insights
JANUARY 7, 2020
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.”
PINC
MARCH 24, 2020
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.
Unleashed
APRIL 15, 2020
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.
Logistics Trends and Insights
OCTOBER 6, 2020
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.
Logility
NOVEMBER 13, 2020
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.
Logility
OCTOBER 22, 2020
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
MARCH 25, 2020
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.
Supply Chain Shaman
JULY 6, 2020
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
TPSynergy
JANUARY 9, 2020
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.
ToolsGroup
APRIL 13, 2020
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.
Logility
FEBRUARY 13, 2020
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.
Supply Chain Shaman
SEPTEMBER 10, 2020
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.
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