5 Quality Metrics Predicting The Future Of Manufacturing

IQMS

Bottom Line: Manufacturers are reaching a new level of results in 2018 because they have clearer, more actionable insights based on real-time manufacturing and quality metrics than ever before. Quality Metrics Enable Customer-Driven Manufacturing Networks.

Siemens BT: Every analytical transformation requires a “Jonah Hill”

NC State SCRC

One of our newest SCRC partners, Siemens Building Technologies, recently shared their insights on creating an analytics strategy. This effort was led by the Chief Procurement Officer for Siemens BT, Carl Oberland, but has recently been rolled out across the global organization.

SIG Webinar on Procurement Analytics and Innovative Data Leveraging

Supply Chain View from the Field

The webinar will also include Howard Richman, a colleague I have known for many years, first at Merck, and now working at Citrix as their Chief Procurement Officer. Also joining us will be Michael O’Leary, Director of Procurement Solutions at IBM. I emphasied to Alex that I had seen a similar trend – that purchasing executives seek to drive procurement value transformation, many find themselves struggling to make progress in these three areas of change.

CAPS Procurement Analytics Study Highlighted in Inside Supply Management

NC State SCRC

This month’s Inside Supply Management published by the Institute for Supply Management features an article announcing the launch of a study being undertaken by the Center for Advanced Purchasing on the evolution of procurement analytics. Examples include mapping product and service genomes, “block chains”, embedded procurement solutions, elimination of purchase orders, buyer assistance, and other solutions). There are an incredible number of procurement platforms.

Building a Triple A Supply Chain: Ten Tactics That Work

Supply Chain Shaman

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. Maturity in Analytics.

7 Tips: A Guide to Mastering Procurement

Material Handling & Logistics

With the digitization of the source-to-pay process being a key initiative for many chief procurement officers, to the inherent automation which promises to accelerate innovations such as artificial intelligence (AI), digitization is growing.

Beyond Spend Analytics: Supplier Life Cycle Data

Supply Chain View from the Field

We recently had a senior data analytics professional from a large financial services organization speak in my MBA Supply Chain relationships class. This individual was quick to point out that to “do analytics”, you need to have a solid dataset to work with. And much of the work in analytics relies on what that data looks like, and the quality of the data. That is a whole process during the procure to pay process called reconciliation.

3 Practical Metrics for Supplier Performance Evaluation

Logistics Bureau

Regardless of advances in business analytics therefore, I still advocate a measured approach to measurement (pun intended), by way of a carefully chosen handful of KPIs which are meaningful and actionable. Supplier Performance Metrics for Every Organisation. Returns rate metrics.

Five Predictions (About Prediction) that Every Procurement Professional Should Consider

Supply Chain View from the Field

As part of the conference, I’m delivering a talk on five predictions that every procurement professional should consider. These aren’t so much “predictions”, as opportunities that procurement professionals should become aware of, and educate themselves on. Prediction 1 – Spend Analytics Will Become More Predictive (Not Backward Looking). As we’ve noted in prior posts, talent is the key to procurement organizations.

Assessing the True Return of Procurement Transformation on Total Shareholder Return: A Tough Proposition

NC State SCRC

In my earlier book with Gerard Chick on “ The Procurement Value Proposition “, we advance the notion that buildoing a business case for investing in people, process, and technology improvement in procurement is key. Many procurement assessments developed by consultants seek to provide an answer to the question “how far along are you relative to your peers in your procurement transformation journey”, and “which processes are lagging compared to your peers?”

KPI 40

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

Supply Chain View from the Field

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. Chris Sawchuck from the Hackett Group interviewed three heads of procurement from three large companies, and asked an important question. Does procurement add to top line revenue.

Writing: Working on My Book

Supply Chain Shaman

Interview for Metrics That Matter. My kitchen table is piled high with interviews for the upcoming book, Metrics That Matter. He is responsible for manufacturing, procurement, supply chain planning, logistics, quality, social responsibility and final product engineering.

Patrick Hopkins at Coupa: Coca Cola’s four truths of procurement to pay in action

Supply Chain View from the Field

At the Coupa INSPIRE procurement conference in San Francisco this week, the Chief Procurement Officer of Coca Cola Consolidated, Patrick Hopkins, shared his views on the “4 Truths of Procurement”, and how he has operationalized his views through the deployment of Coupa procure to pay software. When it comes to “procurement truths”, Patrick shared what he believes are critical issues that procurement needs to think about when deploying a procure to pay system.

6 Questions on the Minds of Every Chief Procurement Officer

NC State SCRC

I spent some time working with IBM this past month on a slide share that covers 6 key questions on the minds of many of the Chief Procurement Officers I’ve spoken to in the last year. Most of the questions have a common thread: the importance of data an analytics as a key component of the operating environment we find ourselves in. As a result, procurement is often brought in at the last minute. If only procurement could get to this!

KPI 40

Best Practice: Creating a Governance Mechanism for Analytical Learning in Organizations

NC State SCRC

I recently interviewed a large semiconductor company that developed a cross-enterprise initiative to drive analytical learning across its entire supply chain. There are systems directors in both the procurement and logistics/planning teams. An important governance mechanism that drives analytical process is the Supply Chain Director’s Council, whose mandate is to focus on the availability and ability of the supply chain to deliver parts and core finished goods to customers.

SCRC Innovation and Social Responsibility Supply Index: A Critical Input to “Drucker Management Top 250 List”

NC State SCRC

In the innovation category, metrics related to spending management, category management, strategic sourcing and supplier relationship management. In the social responsibility category, metrics related to supply chain policies, practices and results, including audits and lawsuits, with respect to human relations and the environment.

Data is the Real Gold At the End of the Rainbow for Contract and Spend Management Systems

NC State SCRC

Contract management analytics are critical for tracking transactional compliance with contract pricing, terms and conditions, but also as a vehicle for workflow management around negotiation of contract renewals, and aggregation of supplier performance data on service level agreements, delivery, quality, and service performance. This ability to link supply and demand characteristics of the market place is the true “nirvana” of supply chain analytics. .

Where Will Companies Find Their Future I.T. Expertise?

Supply Chain Brain

To determine whom they need and when, companies will have to rely on analytics and machine learning. Quality & Metrics All Technology Sourcing/Procurement/SRM SC Planning & Optimization Home Page Latest NewsThe need for tech expertise is greater than it has ever been — and growing.

Changing SRM Behaviors in a Period of $70/bbl Oil

Supply Chain View from the Field

I was in Houston yesterday evening, speaking to a large group of procurement executives at a roundtable held by KPMG’s Procurement Advisory Group, at the fabulous Brennan’s restaurant on Smith Street. Procurement executives need to re-think how they establish performance metrics, how they evaluate and measure performance against these metrics, and find ways to resolve the inevitable conflicts when they occurred.

KPIs That Purchasing Executives Need

Silvon Software

There are many valuable metrics that can help you better assess your company’s performance at the sourcing / procurement level. Direct spend is a key area of performance to consistently measure because Procurement professionals must understand the impact of their sourcing decisions on both product quality and availability to customers. These metrics are noted in the following sections below. Intelligent Analytics

Is Your Supply Chain A Cost Centre or a Value Creator?

Supply Chain Game Changer

Whatever your Industry you should be able to make comparisons to competitors, do benchmarking, and even compare yourself on key metrics across industries. From the inbound perspective he Supply Chain team typically procures raw materials, expedites their delivery. Subscribe Here!

Collaborative Approaches to Design-Build Contracts in Oil and Gas Construction

Supply Chain View from the Field

This is what contracts are supposed to do – lay out responsibilities, and drive appropriate channels for review of performance metrics, drive problems to their root cause, and establish the roles and responsibilities for all parties to resolve issues. ” What was also apparent in this relationship is that when problems occur, trust combined with metrics is what drives the relationship to grow.

Supply Chain Collaboration – The New Way to Drive Value!

Supply Chain Game Changer

Sixty-five percent of procurement practitioners say procurement at their company is becoming more collaborative with suppliers, according to The Future of Procurement, Making Collaboration Pay Off, by Oxford Economics. Improved customer service metrics. Subscribe Here!

The Supply Chain Detective™: The Case of the Unpaid Invoices!

Supply Chain Game Changer

They themselves were confused over the number of aged invoices, the amounts, the metrics, the issues preventing payment, the critical parts being held hostage by suppliers in exchange for payment, the problems preventing payment, processes, and responsibilities. Subscribe Here! Email Address.

Post Award Contract Management with $40 Oil: Insights from Shell’s Kevin Fronk

Supply Chain View from the Field

Kevin and I worked together years ago to help define the a baseline framework for strategic sourcing and category management that was deployed within the Lubricants group, and which later became deployed across the entire Shell Procurement organization. In my class this past week, Kevin spoke further about how procurement is markedly different in an era of $40 oil. I had the opportunity to host a good colleague of mine, Kevin Fronk, in my supply chain relationships class this week.

A Fireside Chat with John Sculley, Apple’s former CEO

NC State SCRC

” A question came from the audience: “Fundamentally – procurement is measured on cost savings as the primary metric. Other metrics are whether you agree off of purchasing agreements in the company, and some customer satisfaction metrics – and are internal stakeholders satisfied.

Tools 52

Navigating The End-to-End Journey

Supply Chain Shaman

The company that plays to win does not strive to have the best manufacturing costs, or the best procurement practices; instead, the team focuses on winning together cross-functionally on a commonly held portfolio of metrics. Wang Laboratories. Eastman Kodak. Nokia, Blockbuster.

What is the return on ERP implementation? Results from our research

Supply Chain View from the Field

Such systems are also instrumental in establishing aligned tactical and strategic performance metrics systems that drive improved economic outcomes (Bendoly et al., ERP systems are designed to integrate transactions from finance, human resources, procurement, operations, sales and marketing, logistics, and other functions in a firm. procurement activities.

Top 10 Manufacturing Trends For 2019

IQMS

Manufacturers who excel at orchestrating analytics, Business Intelligence (BI), quality management and real-time monitoring to improve manufacturing strategies are growing 10% faster than their peers.

Trends 106

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. Developing a deep knowledge of supply chain terms, vocabulary, analytical methods, and know-how is of primary importance in this section of the class.

Handfield’s Top Supply Chain Predictions for 2016

NC State SCRC

This creates a “double whammy” effect, in that digitization is driving up the need for analytics but to truly find collaborative solutions that rely on new technology solutions, companies will need to find ways to partner. Prediction 1 – Supply Chain Analytics Will Become More Predictive (Not Backward Looking). In one company I interviewed, the analytical team explored the relationship between economic activity, consumer demand, and demand for their products.

What does it take to build a best-in-class supply chain?

Kinaxis

Tracking success: Metrics matter. Now Avaya is leading the way, exceeding industry benchmarks in 11 key metrics. Rigorous tracking of these metrics helps Avaya feel confident it’s on track to realize success. Procurement spend analysis. POS analytics. “We

The Future Of Supplier Collaboration: 9 Things CPOs Want Their Managers To Know Now

Cerasis

As a sourcing or procurement manager, you may think there’s nothing new about supplier collaboration. Your chief procurement officer (CPO) most likely disagrees. Procurement must start looking to suppliers for inspiration and new capability, stop prescribing specifications and start tapping into the expertise of suppliers,” writes David Rae in Procurement Leaders. The need for supplier collaboration in procurement is greater than ever.

Let the Qs Begin

Supply Chain Shaman

There are three reasons why: Vertical excellence—having the best manufacturing, procurement or transportation function—has not worked. The use of channel data into advanced analytics to sense demand. Aligned Metrics. Last week was the Supply Chain Insights Global Summit.

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

NC State SCRC

Here is a sample of the type of projects our MBA and Engineering students are working on this semester, proving again that NC State is all about “THINK AND DO” (in our case, executing on practical applications in the real world using robust supply chain analytical approaches).

Top 5 Trends to Know to Compete with Amazon’s Supply Chain

Cerasis

Technology Will Reshape Procurement Practices. Better procurement practices translate into better overall sales, but the role of procurement in driving sales’ statistics will change throughout 2017. Today, procurement drives up to 67 percent of sales, explains Johnathan Webb of Forbes magazine, as procurement professionals look for innovative ways to produce effective, superior products. Procurement strategy was not always evident.

Trends 195

What Is Old Is New Again. Maybe, Just Maybe, the Emperor Is Getting Some Clothes.

Supply Chain Shaman

In the height of the e-commerce craze, the marketplace offerings started with a focus on e-procurement. The widely-held view was that the e-procurement market would fuel the next generation of marketplace applications.