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Subscribe Are Ghost Assets Haunting Your Inventory Control? In today’s tech-driven world, managing IT assets effectively is no longer a luxury—it’s a necessity. But who uses IT assetmanagement (ITAM), and why does it play such a pivotal role across various industries?
The Evolution of AssetManagement: Humans, Inventory and the Rise of AI by Jeroen Hendriks , Director at Art of Supply Chain Sdn Bh In the ever-evolving landscape of organisational success, the spotlight is now on assetmanagement. People are the most important assets that a business has.
In 2025, efficient spare parts inventorymanagement is no longer a competitive advantage — it’s a business necessity. Yet for many organizations, spare parts inventory remains a critical blind spot. Obsolete stock, fragmented procurement workflows, and disconnected data only make the challenge harder.
The Approach to Effective Freight Procurement by LSCMS Shippers’ Council Container shipping procurement faces a multitude of challenges shaped by global events, industry shifts, environmental mandates, and technological advancements. At the heart of it all, an effective procurement strategy remains paramount.
DOWNLOAD NOW RETURN TO THE ARCHIVE Featured articles from this issue: h6 The Approach to Effective Freight Procurement LogiSYM Supply Chain Magazine – October 2023 The Evolution of AssetManagement: Humans, Inventory and the Rise of AI The Green Corridor: The Circular Journey ManagingInventory amid Regime Change
Companies that achieve balanced scorecard results–above their peer group in cost, growth, customer service, inventory, and assetmanagement–are good at horizontal processes (revenue management, S&OP, new product launch, and supplier development). It is a view of the use of technologies for inventory.
Fleet managers who have the training and time to focus on preventive maintenance and assetmanagement keep vehicles on the road longer and reduce unplanned expenses. Spreading responsibilities across a team and providing administrative support can prevent burnout and improve retention.
A better forecast leads to carrying less inventory while maintaining or even improving service levels. The improvement in forecasting contributed to an increase in service levels by 10% while reducing inventory investment by 20%. But that was pre-COVID. But after the pandemic hit their safety stock was increased by 30%.
In this comprehensive guide to online inventorymanagement, we’ll take a look at what it is and why your product-based business can’t do without it. Online inventorymanagement for manufacturers. Online inventorymanagement for retailers. Online inventorymanagement for wholesalers.
The answer lies in modern inventorymanagement best practices. Specifically, the use of perpetual inventory systems. What is a perpetual inventory system? Perpetual inventorymanagement relies on technology to track inventory with timely data and a high degree of accuracy. Wonder no more.
In this ultimate guide, we’ll show you how to elevate your business operations, from procurement and logistics to manufacturing and more, ensuring a path to operational excellence and strategic success. Operational Excellence with Cloud-Based ERP ProcurementManagement Efficiently manage your procurement processes with ERP.
The Green Corridor: The Circular Journey 3 conversations Needed for AssetManagement in a Sustainable World by Timothy Foote, Founder of Susymbio Things degrade and deteriorate over time. The world takes its toll through use and natural degradation on assets: handles break, roofs weather, metal rusts.
To stay ahead of the curve, industry leaders are turning to data-driven strategies and artificial intelligence (AI) to transform how they manageinventory, forecast demand, and optimize the entire spare parts lifecycle. They face the daily challenge of identifying the right part, at the right time, for increasingly complex assets.
4PLs are an extension of that model going beyond physical logistics to add the elements of Procurement, IT and Finance.”. These include: Procurement: establishing relationships with suppliers and holding the contracts on behalf of the customer. 3PLs bundled those relationships and consolidated logistics into one provider.
Historically Supply Chain was considered to include Procurement, Warehousing, Freight and Logistics. Apart from Finance, Supply Chain has the preeminent role in Cash management. Supply Chain clearly influences Inventory levels and Inventory turnover. For context it is important to first outline what Supply Chain includes.
Inventorymanagement in an on-demand world is one of the biggest challenges in the supply chain today. Inventorymanagement involving brick-and-mortar stores as well as eCommerce is ever-evolving and more dynamic than ever before. What if the distribution centre manages both store and eCommerce inventory stock?
Invest in a hotel assetmanagement system. A hotel assetmanagement system will print reports and run analysis to determine where your spending is and what you can do to optimize it. Hotel assetmanagement systems do more than just help you cut your direct expenses. When in doubt, turn to your technology.
In addition to direct analysis of the quality and effectiveness, such systems also contribute to increasing the efficiency of operations, support management efforts aimed at compliance with service standards, fulfilment of profit, work logistics plans and assetmanagement. This also needs to be learned.
Where to Start if You’re New to Procurement Sourcing Solutions. There are many people who are not new to procurement and sourcing and its role in the supply chain but may be new to sourcing solutions and software. Read on to learn how to get started with procurement sourcing solutions and what to look for in software.
Many companies are realizing the critical role that effective inventorymanagement plays in streamlining warehouse operations and maintaining an edge over competitors. Check out how UC San Diego improved their inventory and assetmanagement processes.
The 3 Pillars of Digital Procurement! Virtually every type of software application is offered in a SaaS model, including software to support ERP, TMS, CRM, InventoryManagement, and Invoicing applications, all of which are related to Supply Chain. We had phenomenal, global capabilities in Logistics and Procurement.
Procure to Pay – A Day in the Life. This session will explore the complete flow from the variety of first steps through requisitions, purchase orders or supplier schedule releases; over the interaction with suppliers in the QAD Supplier Portal through the inventory result with PO receipts.
The application is fully integrated allowing managers to complete other tasks such as creating service tickets, managinginventory, and drafting POs from wherever they are using different portable devices. In addition, managers can generate reports and see histories of their performance.
In this area, enhancements include: QAD Manufacturing adds eSignature functionality for Inventory Detail and Transfer, Test Specifications and Production Orders Operations to improve productivity and reduce risk.
Better AssetManagement also comes from this paradigm shift. Assetmanagement should be an essential part of all of the supply chain processes. Ultimately the focus of risk management is on making sure that supply chain continuity is maintained in the event of some unforeseen interruption.
When we share these numbers, people are consistently astounded to learn how big they are: $189 trillion: the total value of assets owned by the Global 2000 in 2018, according to Forbes. $12 12 trillion: the annual procurement spend by the Global 2000 (our estimate based on several sources, see image below). $3 The bonus PR win.
This carton-level tracking complements shipment-level tracking and helps pro-actively identify potential inventory replenishment for each store, reduces theft and claims for lost cartons, and streamlines shipment payment.
Too many companies still rely on manual data collection processes for handling inventory. Tracking inventory in the warehouse, shop floor or out in the field using paper checklists, spreadsheets, data entry into the ERP, or using no system at all, is not effective. Mobile inventory software with additional functionality.
Optimizing assetmanagement and personnel monitoring for improved worksite operations in all venues where high-value assets are deployed. To achieve full efficiency, the supply chain needs secure, accurate and timely data on the inventory status and condition of its products. About Intelleflex.
Moving the needle closer to perfect order performance requires getting a firm grasp on every subprocess within the end-to-end fulfillment process, ensuring that orders are taken correctly, inventory is there when needed, products are packaged well and delivered on time, and accurate documentation is provided. Share data.
QAD Production Execution streamlines planning and shop floor communication while also improving the coordinated management of material, labor and equipment. It provides the production insights needed to rapidly respond to unplanned inventory shortages, equipment failures and productivity slowdowns.
Virginie Vast, Head of Vodafone AssetManagement Services & Tactical Sourcing from Vodafone Procurement Company. Ludovic Menedeme, Working Capital and InventoryManagement Lead, Zoetis. Here is a selection of supply chain executives that will be sharing their insight in 2015. Kees Kuijken, CEO, KLG Europe.
Effective assetmanagement is essential to any successful business operation. Streamlining these processes to align perfectly with the unique needs of each organization can help an organization to better manage and enhance decision-making processes and reduce operational costs.
With a click of a button, operators can map, share and access their peers’ material and equipment inventory globally in a central and collaborative “digital warehouse.” Material inventories, purchasing contracts, and shipping timelines – all of these factors play a critical role in controlling inventory costs.
We paid the price for inefficient shipping, both in direct costs, and the cost of maintaining buffer inventory to cover for all the unpredictability. Ezra Gardner and the team have come to the table with some outstanding long-term investors led by M&G Investments, the UK-based half-a-trillion dollar assetmanager.
Consequently, project managers, supply-chain management, and compliance groups are searching for ways to strengthen supply chains and minimize risks from material shortages, dependency on overseas suppliers, and geopolitics. Building on new digital models and commerce platforms , companies can: Improve procurement practices.
This includes the optimal placement of inventory within the supply chain, minimizing operating costs including manufacturing costs, transportation costs, and distribution costs. Inventory control. They also get the ability to do a comparison and quickly reconfigure the essential material needed to procure from various suppliers.
In today’s fast-paced business environment, efficient assetmanagement is crucial for organizations to maximize their resources, minimize operational risks, and enhance long-term sustainability. When running smoothly and efficiently, assetmanagement can help decision makers predict and oversee the life cycle of an asset.
However, the use of information technology in supply chain management has streamlined the world of procurement and purchasing through supply chain management, cloud software, and other types of IT that help boost supply chain efficiency. Inventorymanagement. Return management. Order and supplier management.
Both of these companies support Product Information Management (PIM) and Digital AssetManagement support needs for the automotive aftermarket. Phenix introduced Aligned Product Wheels , extending traditional Product Wheels with inventory and production design capabilities. and its sister company Visual SKU’s.
This includes the optimal placement of inventory within the supply chain, minimizing operating costs including manufacturing costs, transportation costs, and distribution costs. Inventory control. They also get the ability to do a comparison and quickly reconfigure the essential material needed to procure from various suppliers.
Powered by data analytics and advanced technologies, every stage of the supply chain can be critically analyzed, starting from procurement to distribution to identify and prioritize improvement opportunities. This opens up avenues to save procurement, transportation, inventory, and warehousing costs.
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