Precoro

SEPTEMBER 6, 2021

This month, we continue our Procurement Basics series and would like to introduce our readers to yet another set of often misused business terminology. As both sourcing and procurement are related to obtaining supplies for the organization, confusing these two terms is easy. Procurement. What Is Procurement Process?

Optimal Sourcing 97

Optimal Sourcing Manufacturing Procurement Purchasing Skills Procurement Solutions 97

GlobalTranz

JANUARY 10, 2017

From artificial intelligence to refocusing on procurement, the state of supply chain continued to explode throughout 2016, and you need to understand why. The State of Supply Chain 2016 Trends. The move to agile supply chain management inherently required more data sources than traditional supply chains, reports GT Nexus.

Agile and Lean Supply Chain 120

Agile and Lean Supply Chain Manufacturing Procurement Optimal Sourcing Procurement Analytics 120

Silvon Software

JULY 22, 2022

For one thing, today’s operational processes have become more complicated due to the ever-growing number of sources, platforms and touchpoints that must now be analyzed in order to drive actionable insights from them. 60% to 70% is considered a good benchmark of inventory levels. Top-Line KPIs and Metrics for Supply Chain Management.

Metrics 81

Metrics Manufacturing Procurement Supply Chain Planning Software Supply Chain Strategy 81

Supply Chain Shaman

JUNE 21, 2023

One of my insights from doing the industry analysis for the Supply Chains to Admire each year is that smaller and less well-known companies outperform larger and better-known manufacturers. The analysis is biased toward large process-based manufacturers in the Gartner network. Is this success? I don’t think so. Learning Stalled.

Gartner 365

Gartner Supply Chain Planning Software Supply Chain Design Software Supply Chain Planning 365

Supply Chain Shaman

JULY 19, 2015

Benchmarking is a measurement of the quality of an organization’s policies, products, programs or strategies against standard measurements. Today, I am going to share five insights that I have gleaned from our work on Supply Chain Planning Benchmarking. Benchmarking is not Benchmarking. Business Dictionary.com.

Benchmarking 150

Benchmarking Supply Chain Planning Software Supply Chain Planning Scenario Planning 150

SCMDOJO

MARCH 19, 2024

While Its primary purpose is to manage the entire process, from procurement to delivery, efficiently and cost-effectively, it also coordinates with production to automate processes and planning, etc. Watch What is Marketing Procurement? on our SCMDOJO YouTube Channel! Why do you need a structured Supply Chain Department?

Optimal Sourcing 74

Optimal Sourcing Supply Chain Planning Software Negotiating Skills Material Savings 74

SCMDOJO

OCTOBER 27, 2023

Supplier negotiation is the most critical skill in the world of procurement. It requires an in-depth knowledge of procurement processes to be able to bring the supplier on a mutual agreement. The following are common types of negotiation in procurement: 1. The aim is often to secure volume discounts or advantageous terms.

Negotiate Pricing 88

Negotiate Pricing Negotiating Skills Pricing Training Purchasing Training 88

Silvon Software

JUNE 1, 2023

Regularly review and update your stakeholder-focused KPIs based on changing stakeholder needs or emerging trends. The KPIs here highlight procurement, production, logistics, and customer fulfillment. This includes procurement, production, transportation, warehousing, and distribution.

S&OP 103

S&OP Supply and Demand Optimal Sourcing Supply Chain Planning Software 103

The Logistics & Supply Chain Management Society

JULY 16, 2023

This trend is also better known as the evolution of halal or when applied to an organisation: the corporate halal maturity. The answers to these Muslim consumer needs and wants are in the alignment of the corporate halal maturity with these halal market trends and embracing more advanced halal standards by brand owners.

Risk Management 130

Risk Management Supply Chain Design Software Supply Chain Planning Software Pharmaceutical 130

ToolsGroup

OCTOBER 3, 2022

Source: Bloomberg.com. The demand for retail workers to fill positions in stores, warehouses, and the manufacturing plants of vertically integrated retailers is not decreasing anytime soon. Moreover, the new policy of purchasing online and picking up in-store adds to the already high-stress environment for in-store employees.

Optimal Sourcing 156

Optimal Sourcing Retail Purchasing Skills Inventory Reduction 156

Demand Solutions

DECEMBER 15, 2015

Know key market trends and their impact on the quality of demand planning. Benchmark against key performance indicators of demand planning excellence. Understanding Key Market Trends. In the article, Hackett gives us several hints by identifying the most important trends in the demand planning space for 2015.

Supply and Demand 100

Supply and Demand Demand Planning Supply Chain Planning Software Demand Planning Software 100

Demand Solutions

DECEMBER 15, 2015

Know key market trends and their impact on the quality of demand planning. Benchmark against key performance indicators of demand planning excellence. Understanding Key Market Trends. In the article, Hackett gives us several hints by identifying the most important trends in the demand planning space for 2015.

Supply and Demand 100

Supply and Demand Demand Planning Supply Chain Planning Software Demand Planning Software 100

Supply Chain Shaman

OCTOBER 5, 2018

Based in Paris, L’Oréal is a global personal care manufacturing company. The company experienced a 34% growth in global e-commerce in 2017 and is expecting the trend to continue. The Company;s senses consumer preferences to change and align their portfolio to deliver personalized products for purchase anytime and anywhere.

Case Study 263

Case Study Inventory Reduction Agile and Lean Supply Chain Study 263

Supply Chain Shaman

DECEMBER 26, 2012

However, none of the three companies knew this before the benchmarking activity. This includes the automation of path-to-purchase for consumer products, active shaping of demand through price, channel incentives and promotions, eCouponing and mobile commerce for retail, and product proliferation for all. It constantly amazes me.

Manufacturing Procurement 187

Manufacturing Procurement Purchasing Skills Modeling Supply Chain Design 187

Unleashed

FEBRUARY 1, 2023

Demand planning also considers factors such as: Your marketing strategy Seasonality Market trends Demand planning teams need to constantly be alert to technology advances such as in Artificial Intelligence or software tools which can be utilised to their advantage. They must draw on all these factors to create a ‘demand plan’.

Supply and Demand 52

Supply and Demand Demand Planning Supply Chain Planning Software Demand Planning Software 52

Enterra Insights

OCTOBER 26, 2023

Companies can leverage social media to obtain consumer behavior analytics while also monitoring the industry, news and other sources that can indicate potential supply chain disruptions like the passing of a new regulation. 7] It should be clear that resiliency is built on a foundation of data. .”

Supply Chain Planning Software 130

Supply Chain Planning Software Supply Chain Design Software Supply Chain Software Gartner 130

Unleashed

JANUARY 29, 2024

An electronics manufacturer chooses to discontinue older or less fashionable design models, based on market trends and customer preferences. You can keep your purchasing costs down by stocking only the SKUs that generate profit and demand. Reduced storage and supplier costs.

Inventory Reduction 52

Inventory Reduction Cost Reduction Strategies Waste Reduction Resource Reduction 52

GlobalTranz

AUGUST 11, 2016

In this blog, Andy discusses the health of the manufacturing industry, manufacturing technology orders, and setting benchmarks for company performance. The State of the Health of The US Manufacturing Sector & Manufacturing Technology Orders. USMTO is managed by AMT, The Association For Manufacturing Technology.

Manufacturing Procurement 120

Manufacturing Procurement Forecasting Software Analytics Software Optimization Software 120

Shipsy

MAY 28, 2021

The outbreak has also made it clear that digitization of the last-mile processes and the overall logistics and transportation system will be the key to shape the future of e-commerce, manufacturing, food & grocery, courier & express delivery, and other industries. Let’s check out the other last mile delivery trends for 2021.

Modeling Software 52

Modeling Software Trends Analytics Software Supply Chain Design Software 52

Silvon Software

APRIL 18, 2024

Across the globe, manufacturing businesses are navigating economic uncertainties with increasing sophistication. Here’s a quick glimpse at how: Automated Data Integration : AI can automate the integration of data from multiple sources, recognizing and aligning similar data fields automatically.

Manufacturing Procurement 59

Manufacturing Procurement Procurement Analytics Analytics Software Predictive Analytics 59

CH Robinson Transportfolio

JANUARY 25, 2018

But there are several trends presenting themselves that will help us redefine what “normal” means for truckload in 2018 and 2019. Below, we explore 8 trends that will have an effect on the truckload market in 2018. It appears this trend of hyper-efficiency will continue. Efficiently utilizing capacity.

Trends 34

Trends Manufacturing Procurement Purchasing Skills Price Reduction 34

ThroughPut

JANUARY 2, 2024

The Just-In-Time inventory management approach revolutionized manufacturing forever. Just-In-Time (JIT) Inventory Management, also known as lean manufacturing or the Toyota Production System (TPS), is a strategy that aligns raw-material orders from suppliers directly with production schedules. How Does Just-In-Time (JIT) Work?

Inventory Reduction 52

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

Requis

OCTOBER 30, 2020

Manufacturing sites have been rationalized in terms of, “we don’t need five factories in this country, we only need three, then two, then we don’t need them at all, we’ll move them to China”. Sourcing has probably been the biggest thing over the last decade or two, coupled with that reduction in local manufacturing of course.

Manufacturing Procurement 52

Manufacturing Procurement Optimal Sourcing Sourcing Strategies Sourcing 52

QAD

JUNE 25, 2019

Whether you measure purchase orders or customer orders—and you should do both—high numbers indicate problems in your inventory planning and flow. The absolute measure is less informative than the trend in the metrics. The number of expedited orders is also an important trend that can indicate emerging business issues.

Procurement Analytics 104

Procurement Analytics Metrics Inventory Reduction Inventory 104

NC State SCRC

SEPTEMBER 27, 2023

In his current role, he is accountable for several strategic functions, including corporate engineering; capital and infrastructure strategy; corporate real estate; risk management; operations research and global procurement. Number 1 : I was and remain naturally curious – about the industry, emerging trends and sources of value.

Pharmaceutical 52

Pharmaceutical Supply Chain Design Software Sustainability Supply Chain Design 52

Unleashed

FEBRUARY 12, 2024

This number can then be used as a benchmark for continual improvement, supporting sustainable business growth. This includes the cost of capital used to purchase inventory, which could have been invested elsewhere for potential returns. With a simple calculation, you can understand what it costs to store and maintain goods.

Inventory Reduction 52

Inventory Reduction Purchasing Skills Cost Reduction Strategies Negotiating Skills 52

GlobalTranz

APRIL 25, 2016

Inventory measurement is critical and it is money after all in that it took a capital expense to procure. It is the main measurement benchmark in measuring supply chain performance, isn’t it? View our Trends Category to stay up to speed. . The goal is to keep inventory levels at a minimum to meet customer needs. Read More. .

Procurement Analytics 120

Procurement Analytics Supply Chain Performance Metrics Supply Chain Software 120

Supply Chain Game Changer

FEBRUARY 26, 2019

Procurement (and Purchasing) Job Interview Questions & Answers. Unless your company is amongst the very largest companies in the world then chances are your Procurement team will, at some point, be dealing with Suppliers that are larger than your company. How are they doing relative to any competitors or benchmarks?

Negotiate Pricing 60

Negotiate Pricing Negotiating Skills Purchasing Skills Manufacturing Procurement 60

Arkieva

AUGUST 12, 2016

A new report by SupplyChainDigest: “Supplier Integration in an Outsourced Supply Chain World: A Benchmark Report,” showed a growing trend in supply chain outsourcing among manufacturing companies. Source: SupplyChainDigest. Here are a few things to look at when making the decision to outsource supply chain operations.

Survey 60

Survey Cost Reduction Strategies Resource Reduction Supply Chain Software 60

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. MRO inventory can account for a sizeable portion of a business’ total procurement spend.

Inventory Reduction 98

Inventory Reduction Inventory Management Software Procurement Solutions Supply Chain Software 98

Precoro

SEPTEMBER 4, 2023

Morgan Working Capital Index 2020 , there is significant capital trapped in the form of working capital that can become a vital source of additional liquidity for corporations. Higher chance of heavy reliance on external financing sources, such as loans or credit lines. According to The J.P. But how can companies unlock this capital?

Optimal Sourcing 59

Optimal Sourcing Negotiate Pricing Inventory Reduction Material Savings 59

Logility

AUGUST 25, 2020

Management must be cognizant of issues of procurement, manufacturing, inventory, and distribution that impact satisfaction and loyalty. KPIs that show performance relative to industry benchmarks and peer performance are usually strategic KPIs that may be assessed monthly or quarterly. First contact resolutions.

Supply Chain Planning Software 173

Supply Chain Planning Software Supply Chain Design Software Agile and Lean Supply Chain Supply Chain Software 173

IQMS

JUNE 15, 2020

Bottom Line: Capturing machine process and measurement data with real-time process monitoring helps manufacturers improve quality and compliance, while also increasing production yields and shop floor productivity. Using Real-Time Process Monitoring To Create A Manufacturing Fitness Plan. Product Gains Achieved with Process Monitoring.

Manufacturing Procurement 75

Manufacturing Procurement Analytics Software Demand Planning Software Manufacturing 75

Unleashed

JULY 25, 2023

Inventory turnover period The inventory turnover period is the time taken from when you purchase inventory until the time those goods are sold. It helps you to make better purchasing, manufacturing , pricing, and marketing decisions based on the data revealed. What is a good inventory turnover ratio?

Inventory Reduction 52

Inventory Reduction Optimal Sourcing Inventory Price Reduction 52

Unleashed

JULY 2, 2023

It’s used frequently in inventory accounting to help businesses understand their holding costs and make optimised purchasing decisions. This helps you understand where some of your costs are coming from so you can make better decisions around purchasing and inventory management. What is Days Inventory Outstanding?

Inventory Reduction 52

Inventory Reduction Inventory Inventory Management Software Procurement Analytics 52

Unleashed

JULY 23, 2023

Key Performance Indicators (KPIs) help manufacturers determine operational strengths and flaws. By tracking the right manufacturing KPIs in your production operations you can accurately monitor performance to ensure the consistent and timely delivery of quality products. In this manufacturing KPIs guide What are KPIs in manufacturing?

Manufacturing Procurement 52

Manufacturing Procurement Procurement Analytics Metrics Inventory Reduction 52

Unleashed

MARCH 6, 2024

An agile supply chain has key characteristics – such as resiliency, flexibility, and visibility – which enable businesses to adapt to new trends and increase productivity. Circle One implemented Unleashed to streamline its sales order and purchasing processes, reduce manual errors, and improve its inventory visibility and accuracy.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain Supply Chain Planning Software Supply Chain Design Software Supply Chain Software 52