Logistics Bureau

APRIL 19, 2021

I have benchmarked supply chains for businesses all over the world for 25 years or so and have seen some incredible results. If you’ve never done a benchmarking exercise before, read on. The Benefits of Benchmarking. The Benefits of Benchmarking. You might be wondering what the benefits are of benchmarking.

Benchmarking 98

Benchmarking Supply Chain Performance Supply Chain Exercises 98

Supply Chain Shaman

SEPTEMBER 3, 2015

This morning, unexpectedly, I found myself in the middle of a debate between my two panelists on the Planning Benchmarking Panel for the Summit. We feel so strongly about this that we do not have an inventory planning role.” We feel so strongly about this that we do not have an inventory planning role.”

Waste Reduction 150

Waste Reduction Inventory Reduction Inventory Optimal Sourcing 150

Arkieva

APRIL 19, 2016

Using so called orbit charts, we have benchmarked companies on EBIT% versus Inventory Turns. That benchmark helped to reveal the ‘best practice frontier’, which in turn helped in setting aggressive but aligned targets for EBIT% versus Inventory Turns. Benchmarking EBITDA% versus Inventory Turns.

Benchmarking 60

Benchmarking Inventory Reduction Inventory Expense Reduction 60

SCMDOJO

NOVEMBER 9, 2023

Understanding the most valuable inventory control techniques, along with utilizing inventory control template Excel, is essential if you want to ensure effective inventory management. The primary goal of inventory control is to reduce the costs associated with holding stock.

Inventory Reduction 79

Inventory Reduction Expense Reduction Cost Reduction Strategies Optimal Sourcing 79

Logistics Viewpoints

APRIL 24, 2024

Available to sell is the on-hand inventory minus any promised inventory. Available to promise is a reserve against incoming inventory. This intersection ensures that a company does not oversell its inventory, putting on-time delivery and customer satisfaction at risk.

Course 225

Course Supply Chain Planning Software Predictive Analytics Software Optimization Software 225

Unleashed

FEBRUARY 12, 2024

Inventory carrying cost is an essential figure to understand. Without it, you’ll struggle to accurately measure profitability or make informed decisions around inventory management and cash flow. This number can then be used as a benchmark for continual improvement, supporting sustainable business growth.

Inventory Reduction 52

Inventory Reduction Purchasing Skills Cost Reduction Strategies Negotiating Skills 52

Unleashed

DECEMBER 15, 2021

Days Sales of Inventory (DSI) is a key measure to help you understand how efficient your inventory management is. Learn more: Inventory Accounting – A Free Video Guide for Accountants & Advisors What is Days Sales of Inventory (DSI)? It’s also known as Days Sales in Inventory and Average Age of Inventory.

Procurement Analytics 98

Procurement Analytics Inventory Reduction Metrics Inventory 98

Unleashed

APRIL 18, 2023

Great inventory management comes down to good systems, good processes, and constant improvement. The last of these can be achieved by tracking the right inventory metrics, analysing the results, and making data-driven optimisations. So, what are the ‘right’ inventory metrics, and how do you calculate them?

Procurement Analytics 52

Procurement Analytics Metrics Inventory Reduction Inventory 52

Unleashed

JULY 2, 2023

Days Inventory Outstanding (DIO) is a fundamental inventory metric for measuring efficiency and liquidity inside a product business. It’s used frequently in inventory accounting to help businesses understand their holding costs and make optimised purchasing decisions. What is Days Inventory Outstanding?

Inventory Reduction 52

Inventory Reduction Inventory Inventory Management Software Procurement Analytics 52

Arkieva

MAY 12, 2016

Deriving a strategic benchmark for Product Leadership, Operational Excellence and Customer Intimacy in the Supply Chain Triangle. From the benchmark data gathered in the previous sections and the previous blogs, we can distill the benchmark for Product Leadership, Operational Excellence and Customer Intimacy, shown in Figure 9.

Benchmarking 60

Benchmarking Inventory Reduction Supply Chain Strategy Cost Reduction Strategies 60

Unleashed

JULY 25, 2023

The inventory turnover ratio measures how often stock is sold and replaced over time. It’s a vital inventory accounting metric for monitoring sales and managing perishable goods – without it, your business will struggle to operate efficiently and could start losing money fast. Inventory turnover is expressed as a financial ratio.

Inventory Reduction 52

Inventory Reduction Optimal Sourcing Inventory Price Reduction 52

Supply Chain Movement

APRIL 22, 2016

The need to benchmark supply chain performance runs deep in many companies. For many companies, the search for benchmarking data becomes the end in and of itself, rather than the means to an end. Often, companies go through the trouble of completing a benchmark, only to then let the results collect dust on a bookshelf.

Benchmarking 60

Benchmarking Supply Chain Planning Software Gartner Pharmaceutical 60

Logistics Bureau

SEPTEMBER 8, 2020

What are the things that people get wrong in inventory? Robobyrne: Sins In Inventory Management. Supply Chain Secrets: Why Supply Chain Inventory Should Matter to the Finance Pros. Supply Chain Secrets: Why Supply Chain Inventory Should Matter to the Finance Pros. Forecast. ??? ??? Best Regards, Rob O’Byrne.

Inventory 53

Inventory Forecasting Inventory Management Benchmarking 53

Logistics Viewpoints

MARCH 27, 2023

As demand forecasting accuracy increases, and the standard deviation associated with the forecast decreases, the need to hold “just in case” inventory also goes down. This leads to lower inventory carrying costs and thus better case flow. Demand forecasting should be tightly integrated to an inventory optimization application.

Forecasting 189

Forecasting Forecasting Software Modeling Optimal Sourcing 189

QAD

JUNE 25, 2019

The effective use of a manufacturer’s inventory investment is an important determinant of the company’s success. Excess and obsolete inventory is a drain on resources, as is excessive safety stock. Managing an Inventory Investment. Managing an Inventory Investment.

Procurement Analytics 105

Procurement Analytics Metrics Inventory Reduction Inventory 105

Arkieva

MAY 10, 2016

A next logical question is if we can somehow capture this from publicly available financial data and benchmark companies on this strategic level. Inventory turns are available. When benchmarking SG&A it is crucial to verify whether that includes or excludes the R&D costs. What about service and cost?

Benchmarking 60

Benchmarking Expense Reduction Inventory Reduction Cost Reduction Strategies 60

ThroughPut

JANUARY 2, 2024

The Just-In-Time inventory management approach revolutionized manufacturing forever. What is Just-In-Time (JIT) Inventory Management? Its central mission is to curtail inventory expenses and amplify operational efficiency by timing the receipt of goods to coincide with their actual need in the manufacturing cycle.

Inventory Reduction 52

Inventory Reduction Just-in-Time Resource Reduction Expense Reduction 52

Unleashed

JANUARY 24, 2022

Maintaining healthy levels of Maintenance, Repair and Operations (MRO) inventory is essential to the smooth running of your manufacturing, distribution or wholesaling operation – even if MRO goods aren’t part of your final products. Learn more: What is Inventory Management? Techniques for 2022 What is MRO inventory?

Inventory Reduction 98

Inventory Reduction Inventory Management Software Procurement Solutions Supply Chain Software 98

Logistics Viewpoints

APRIL 5, 2023

Most recently, the APQC has conducted best practice and benchmarking research on digital transformation. This report provides a cross-industry perspective on digital transformation in logistics including digital maturity in inventory management, transportation, fleet maintenance, safety and compliance, and more.

Logistics Network Optimization Software 246

Logistics Network Optimization Software Analytics Software Predictive Analytics Software Inventory Management Software 246

Supply Chain Shaman

MAY 3, 2015

When it comes to the management of inventory in value chains, frustration abounds. Executive, after executive, lament, “They have purchased many technologies and sponsored many projects to reduce inventories, but they are not seeing results.” Inventory is the culmination of many business decisions. Tracking Progress.

Inventory Reduction 150

Inventory Reduction Supply Chain Design Software Supply Chain Planning Software Inventory Management Software 150

Logistics Viewpoints

FEBRUARY 14, 2024

Logistics and inventory management rounds out the top four focus areas at 82 percent. Logistics In line with the past several years, inventory management continues to be the top focus area in logistics. In addition to cost savings, having optimized inventory management can help balance cash flow with customer satisfaction.

Supply Chain Planning Software 246

Supply Chain Planning Software Supply Chain Planning Optimal Sourcing Scenario Planning 246

Logistics Bureau

JULY 18, 2017

If you’ve heard about the opportunities and benefits that warehouse performance benchmarking can put within reach of your supply chain organisation, you might understandably be keen to get a benchmarking project under way. Some Common-sense Warehouse Benchmarking Metrics. Other Warehouse Performance Benchmarking Metrics.

Benchmarking 41

Benchmarking Supply and Demand Metrics Warehousing 41

Supply Chain Movement

JANUARY 7, 2013

Terra’s Forecasting Benchmark Study is a pretty comprehensive survey. Extreme error is the most costly and disruptive to the supply chain, risking revenue and customer service, and driving large quantities of excess inventory. Reports benchmark study CPG industry demand planning forecasting supply chain Terra Technology'

Forecasting 68

Forecasting Benchmarking Forecasting Software Study 68

Supply Chain Shaman

SEPTEMBER 10, 2023

I was working on a report on the Multi-Enterprise Inventory Management (often termed MEIO) and I challenged Pete. The software never expanded in scope to manage multi-tier inventories. Rise in Inventories. Across industries, we carry 28 more days of inventory. Yet, only 15-20% of the inventory is managed as safety stock.

Supply Chain Planning Software 251

Supply Chain Planning Software Modeling Forecasting Software Supply and Demand 251

Supply Chain Shaman

JUNE 29, 2021

Using balance sheet data from 2011 to 2019, we chart companies’ progress by peer group on rate of improvement and performance in the metrics of growth, operating margin, inventory turns, and Return on Invested Capital (ROIC). We share the report to help companies benchmark and reflect. It is harder than you might think.

Supply Chain Planning Software 369

Supply Chain Planning Software Supply Chain Design Software Supply Chain Planning Supply Chain Design 369

Logistics Viewpoints

AUGUST 15, 2022

This will almost surely lead to high cycle times in fulfilling orders, the inability for both to production plan, inventory shortages or delivery disruptions caused by delays, and/or high inventory safety stocks and costs due to poor supply order management. Networks and Benchmarking. Coupa calls this community intelligence.

Supply Chain Network Software 218

Supply Chain Network Software Manufacturing Procurement Procurement Analytics Optimal Sourcing 218

ToolsGroup

DECEMBER 16, 2021

By understanding inventory needs from a financial perspective, including revenue and margin, retailers gain insight into their open-to-buy process and, as part of their merchandise financial planning, ensure the organization will not overspend merchandising budgets. Improve Inventory Flexibility. What is an open-to-buy ?

Supply Chain Planning Software 156

Supply Chain Planning Software Retail Supply Chain Planning Scenario Planning 156

The Smart Software

JULY 2, 2019

Service Level Driven Planning (SLDP) is an approach to inventory planning based on exposing the tradeoffs between SKU availability and inventory cost that are at the root of all wise inventory decisions. SLDP unfolds in four steps: Benchmark, Collaborate, Plan, and Track. The post Want to Optimize Inventory?

Optimization Software 40

Optimization Software Supply Chain Optimization Price Mitigation Strategies Inventory 40

Logistics Viewpoints

OCTOBER 2, 2023

This allows the company to do some interesting benchmarking. Elenjickal points out that there is a difference between transportation visibility – where the truck or plane or ship is, inventory visibility – visibility to where stock keeping units are located across the end-to-end network, and order visibility.

Real-time Visibility 219

Real-time Visibility Supply Chain Visibility Inventory Reduction Agile and Lean Supply Chain 219

Supply Chain Collaborator

JULY 21, 2016

In its 2016 Global Transportation Management Benchmark Study, American Shipper reveals a great deal of data about who is using TMS, who should be using TMS and why. Retailers are among those industries most interested in TMS solutions as they work toward linking transportation management with inventory management.

Benchmarking 60

Benchmarking Study Inventory Reduction Cost Reduction Strategies 60

Logistics Viewpoints

JANUARY 3, 2023

The opportunity for better demand planning at retail, wholesale, and distributor/franchise channels comes from the availability of data representing consumer sales as well as external data such as weather, sector benchmarks, and price monitoring applications. To read the full article, click HERE.

Modeling 202

Modeling Supply and Demand Supply Chain Optimization Optimization Modeling 202

Logistics Viewpoints

NOVEMBER 23, 2020

In supply chain management, it is widely accepted that holding enough finished goods inventory to fulfill every order is just too costly. The thinking goes that at some point, improving service levels means you are not adding inventory in a linear manner but rather exponentially. The company has visibility to demand and inventory.

Customer Service 192

Customer Service Supply and Demand Logistics Network Optimization Software Supply Chain Planning Software 192

The Logistics & Supply Chain Management Society

OCTOBER 15, 2023

Regular review and report on service providers’ performance against these benchmarks., Regular performance reviews and reporting on the performance of transportation service providers against predefined benchmarks helps in identifying areas of improvement and ensures that service levels are consistently met.

Optimal Sourcing 130

Optimal Sourcing Procurement Sourcing Strategies Freight 130

ToolsGroup

OCTOBER 11, 2017

"You must be able to make a direct link between the forecasting accuracy improvement and customer service, cost, efficiency, inventory, cash flow or capability improvements,” says Gartner. 9% reduction in inventory obsolescence (percent of inventory value). 9% reduction in inventory obsolescence (percent of inventory value).

Forecasting 180

Forecasting Supply and Demand Forecasting Software Optimal Sourcing 180

ToolsGroup

MAY 4, 2020

Along with its AI-driven demand forecasting and inventory planning software, ToolsGroup has introduced new customer support offerings for COVID-19 planning as well as educational resources including the ebook “ COVID-19 Risk: Enable Swift and Efficient Response to Supply Chain Disruptions.” Companies Share COVID-19 Response.

Supply Chain Planning Software 120

Supply Chain Planning Software Modeling Supply Chain Disruption Supply Chain Software 120

BlueYonder

MARCH 30, 2023

Incisiv surveyed 115 retailers to understand the current state of omni-channel retail and evaluated the digital ordering and fulfillment capabilities of these retailers in four key areas, including Inventory Visibility, Frictionless Fulfillment, Cost & Payments, and 360-Degree Service, which encompassed 104 digital capabilities.

Real-time Visibility 85

Real-time Visibility Eliminating Excel in Purchasing Purchasing Skills Procurement Analytics 85