6 metrics tips and tools to benchmark P2P Digital Transformation

ivalua

Here’s a look at some of the Procure- to-Pay metrics procurement leaders should watch in order to better understand their digital progress. This metric closely aligns with digital transformation progress. This metric also impacts others like speed, visibility, and cost savings. . #2 Digital sourcing tools can help make this a more manageable metric. #3 Success in this metric also contributes to long-term vendor relationship management. #4

Five Reflections From Supply Chain Planning Benchmarking

Supply Chain Shaman

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. There are many different meanings/understandings of the term supply chain benchmarking in the industry. Figure 1: Supply Chain Planning Benchmarking Methodology Overview.

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Top 5 Metrics & Benchmarks To Measure In Pickup & Delivery Logistics

Abivin

Managing your business operations would be challenging without proper metrics and data analytics. In particular, it would be difficult to manage the process and evaluate the success of your organization without quantifiable KPI and benchmark. Core Benchmarks: Transportation [link

The Most Important Distribution Center Metrics to Track and Understand

Cerasis

Throughout the supply chain, the use of metrics to track and understand processes provides an invaluable resource for ensuring increased production and customer satisfaction. Additionally, the use of metrics fosters positive relationships with coworkers and adherence to rulesets and best practices for the respective third-party logistics provider (3PL). What Distribution Center Metrics Need Tracking? What distribution center metrics are you tracking or are not listed here?

Metrics that Matter: Manufacturing Performance Benchmarking

QAD

Benchmarking a business’ performance is a critical step in evaluating performance improvement efforts across the organization. To grow and thrive, manufacturers need to develop best practices, benchmark against those best practices and formulate action plans. Here is why benchmarking is important to the success of your manufacturing business, the various benchmarking types and processes as well as the benefits of maintaining a good level of consistency.

Top 5 Metrics & Benchmarks To Measure In Pickup & Delivery Logistics

Abivin

Managing your business operations would be challenging without proper metrics and data analytics. In particular, it would be difficult to manage the process and evaluate the success of your organization without quantifiable KPI and benchmark.

Metrics that Matter: Inventory Effectiveness

QAD

It is critical to monitor inventory effectiveness using five key metrics: Expedited orders, inventory turns, obsolete inventory, safety stock and stockouts. Using Metrics to Measure the Health of the Business. Companies use these metrics to minimize their investment in inventory without adversely affecting customer service levels. The absolute measure is less informative than the trend in the metrics. Tracking, Managing, and Choosing Metrics.

Common Sense Warehouse Performance Metrics for Supply Chain Benchmarking

Logistics Bureau

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. Whether comparing performance across your own warehouses and DCs, or benchmarking your warehouse network against external organisations, there are a number of performance elements that should be taken into account. Articles Benchmarking Warehouse

Top 5 Metrics & Benchmarks To Measure In Pickup & Delivery Logistics

Abivin

Managing your business operations would be challenging without proper metrics and data analytics. In particular, it would be difficult to manage the process and evaluate the success of your organization without quantifiable KPI and benchmark. Below are 5 significant metrics in Pickup & Delivery Logistics that any company can use to measure their performance in meeting initial goals. , This metric can also be called Perfect Order Measurement.

3 Core Metrics & 10 Soft Metrics for Measuring Supply Chain Performance

Cerasis

3 Key Metrics for Measuring Supply Chain Performance Beyond Cost Reduction. It is the main measurement benchmark in measuring supply chain performance, isn’t it? 10 Soft Metric Considerations in Measuring Supply Chain Performance. Customer Service Levels : When it comes to how a shipper defines the value of a logistics provider or 3PL to the bottom line, there are often several Key Performance Indicators (KPIs) and Logistics Metrics taken into consideration.

How to Benchmark?

Logistics Bureau

Well, I asked Steven Thacker one of our benchmarking management experts, exactly that question! What is Benchmarking? Benchmarking is essentially comparing; comparing one against another. Those levels are “benchmarks”. Of course, benchmarks and benchmarking can cover all kinds of different things, at work or elsewhere. The first thing you’d want to know is “what is the benchmark?” You can benchmark for individuals and also for teams.

Utilizing Data to Benchmark Performance

Supply Chain Link

Collecting data and utilizing that data to establish performance benchmarks is extremely valuable. These benchmarking metrics can be used to compare performance factors against competitors, industry averages, and previous performance metrics. There is more data available today than ever before 1. The analysis of this data can help shippers gain insight into how they can improve, Read More. Supply Chain 3pl

What role should logistics providers play in supply chain performance and benchmarking?

The Network Effect

Daily performance visibility and collaboration to discuss performance related to supply network outcomes and enterprise operating metrics must become part of the fabric and rhythm of running a successful operation. The post What role should logistics providers play in supply chain performance and benchmarking?

Overcoming Complacency: How to Drive Even More Supply Chain Metric Success

Talking Logistics

A sense of complacency can lurk behind benchmarks. The four key methods here will help you drive more success as you bring the metrics to life on your warehouse floor: 1. Show the “story” of your metrics with quarterly and yearly growth charts; show how far you’ve come as a team over time. While most metrics stop at the output level, multiple layers of metrics in a Hoshin Plan actually determine if you’re even focusing on the right targets.

Rating Sustainability Performance: An Essential Business Metric

EcoVadis

Read on for more details about EcoVadis ratings in this interview (first published on the ING Wholesale Banking site): Rating Sustainability Performance: An Essential Business Metric. In addition to sharing results with stakeholders to enhance business relationships, companies use our ratings to benchmark and guide improvements in sustainability performance, and use the data when reporting to other evaluations and indices.

Supply Chain Metrics That Matter: A Focus on Aerospace and Defense

Kinaxis

Supply Chain Metrics That Matter: A Focus on Aerospace and Defense. In Supply Chain Metrics That Matter: A Focus on Aerospace and Defense , Supply Chain Insights benchmarks A&D companies against other industries and dives into data from five top A&D companies over the last decade. by Melissa Clow Just a quick post to share some research courtesy of Lora Cecere of Supply Chain Insights LLC.

2016: Building a Balanced Scorecard for Discrete Industries

Supply Chain Shaman

For each metric we show the averages and the percent change from the beginning and end of the period. Metric Performance for Discrete Industries. Tonight I am writing the Supply Chain Metrics That Matter report on the High-Tech Industry, and the Research in Review for 2015. Metrics cannot be managed in isolation and realistic targets drive career success. Bricks Matter metrics that matter Supply Chain Supply Chain Excellence benchmarking Metrics That Matter

5 Key Metrics to Monitor, Benchmark and Optimize Transportation Spend

Logistics Viewpoints

It’s simple; it is a need to efficiently and effectively measure, track and monitor the right metrics to better manage, control and optimize costs. In the volatile and ever changing domestic transportation market in N. America, there is a growing need. What is it? It sounds very simple, but in truth there are complexities. Complexities […]. Guest Commentary Transportation Transportation Management Systems

8 Uses for Supply Chain Benchmarking and Their Most Valuable Benefits

Logistics Bureau

If not, you might be surprised at the many ways supply chain benchmarking can be used to understand performance, identify areas for improvement and actually turn those improvements into reality. You don’t have to wait any longer to learn why supply chain benchmarking is increasingly winning advocates in the commercial arena. 8 Most Beneficial Uses of Supply Chain Benchmarking. Let’s begin with one of the most commonly cited uses for supply chain benchmarking.

Benchmarking Success: Focus on what Matters

Logistics Bureau

He joined Logistics Bureau Group back in 2009 and commenced by running the benchmarking business known as Benchmarking Success. Steven, you were a customer of Benchmarking Success with three different companies, most recently as Supply Chain Director with Ingram Micro, the world’s largest IT distributor. My first step was to engage Benchmarking Success (BMS) to understand what the “best” for each business really meant from an independent source.

Financial Benchmarking for Inventory Turns and Working Capital

Arkieva

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. Where EBIT or EBITDA per inventory $ or per working capital $ helps in getting meaningful benchmarks and aligned targets, they are not common financial metrics. Benchmarking EBITDA% versus Inventory Turns.

2016: Building a Balanced Scorecard for Discrete Industries

Supply Chain Shaman

For each metric was show the averages and the percent change from the beginning and end of the period. Table 1: Metric Performance for Discrete Industries. Tonight, I am writing the Supply Chain Metrics That Matter Report on the High-tech Industry and the Research in Review for 2015. Metrics cannot be managed in isolation and realistic targets drive career success. Uncategorized benchmarking Metrics That Matter2016 is around the corner.

Benchmarking: Avoid Being The Tallest Pigmy

Logistics Viewpoints

Benchmarking is the practice of comparing business processes and performance metrics to industry bests and best practices from other companies. It is used to measure performance using a specific indicator or indicators resulting in a metric of performance that is then compared to others to assess how well or how poorly a company is performing. The post Benchmarking: Avoid Being The Tallest Pigmy appeared first on Logistics Viewpoints.

Supply Chain Metrics: Make Sure They Are Aligned with Your Strategy!

Supply Chain View from the Field

Many people are talking about Key Performance Indicators, Metrics, Analytics, and other indicators of performance. The importance of selecting the right metrics or “measures” as I prefer to call them, is critical as we all know that metrics drive behaviors. Rather then selecting a plethora of meaningless metrics, it is always better to focus on a critical few, and select them wisely. Step 2 – Develop Metrics and Data Sources.

Why Benchmarking Alone Isn’t Enough for Proper Transportation Cost Analysis

Cerasis

Carriers in the trucking industry and also shippers today are actively looking for ways to combat the rising costs of operating their businesses, but they often do not fully understand proper benchmarking, transportation cost analysis, and profit management are intertwined. Without understanding true costs and using benchmarks as just that – benchmarks – carriers and shippers will struggle to effectively analyze and reduce their costs.

Is Inventory Waste or an Asset?

Supply Chain Shaman

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 were discussing the results of the planning benchmarking work that we have just finished, and I was sharing some insights on inventory management when one of the panelists emphatically stated, “Inventory is a waste to manage. The Supply Chain Insights planning benchmarking work for next year kicks off in January.

5 Easy-to-Use Ways to Monitor Supply Chain Health

Talking Logistics

Do you have the right metrics? Metrics show how your supply chain is performing – providing they are the right ones to do the job. Inappropriate metrics can give a false or incomplete picture of supply chain performance. Second, what metrics are the best indicators of performance in terms of these goals? These are examples of metrics that may or may not support your goals. Benchmark your operation using the selected metrics.

Announcing the Supply Chains to Admire 2015

Supply Chain Shaman

It is for this reason, that we analyze the patterns of the Metrics That Matter using orbit charts over the period of 2006-2014. The analysis is designed to analyze supply chain leader success on a portfolio of metrics. Nine out of ten are stuck unable to make improvements in these Supply Chain Metrics That Matter. I am proud to introduce a methodology that can be applied across industries in benchmarking analysis.

The Right Data and Metrics are Vital for FMCG Route to Market Success

Enchange Supply Chain Consultancy

For a successful Fast Moving Consumer Goods (FMCG) Route to Market Strategy, we must be able to measure our performance across the market, internally within the company and externally against the competition and wider benchmarks.

Reduce Costs: Invest In Talent

Supply Chain Shaman

We analyzed the impact of 150 factors on 493 financial metrics for the period of 2004-2016. By graphing the financial metrics through orbit charts, we find that 90% of companies are stuck at the intersection of operating margin and inventory turns. Due to popular demand, we are kicking-off an organizational benchmarking effort. Supply Chain Leadership Supply Chain Talent costs organizational benchmarking supply chain insights talent webinar supply chain talent

DAT Freight Broker Benchmark: 41% More Load Volume Yields 78% Higher Revenue

DAT Solutions

Monthly revenue rose 78% for freight brokers in May on a 41% increase in load volume, to set new records for those two metrics. Sign up for the monthly Broker Benchmark report to see how your business compares to the competition. Best Practices and Benchmarks

10 Inventory Metrics You Need to Know Right Now

EMERGE App

You can with inventory metrics. Why should you care about inventory metrics ? With these indicators, you can benchmark your operations performance over time and against the industry average. We think these are the top 10 inventory metrics that you need to know right now. Top Ten Inventory Management Metrics. Benchmarking your customer order cycle time is important. Start Benchmarking Your Business Now. How’s Your Business Doing?

Measure Company Growth with This Key Benchmark

DAT Solutions

The best growth metrics are the ones you can control. The second metric that you control is employee productivity. If you have a TMS, create a new report that measures loads per employee per business day, and add it to the other metrics you already track. Whatever metrics you track, you need to be able to gather and analyze the underlying data quickly in actionable reports. Best Practices and BenchmarksYou monitor all aspects of your freight brokering business.

Misnomer

Supply Chain Shaman

When we started benchmarking companies, Deborah and I had a friendly wager. Deborah and I benchmarked 97 supply chains; and, we found the inverse to be true. This starts by clearly defining the roles of each function, and then focusing the cross-functional teams on the same metrics. When all functions are jointly focused on improving these metrics, then we can have one team. We are a month away from the publication of Supply Chain Metrics that Matter.

What Kindergarten Lesson Applies Best to Supply Chain Technology?

Talking Logistics

Powerful Analytics and Peer-based Benchmarking – The ability to aggregate data and uncover insights is drastically simplified in the multi-tenant deployment model. With all companies sharing a common codebase, a common data-store, and having a consistent definition of fields and functions, everything from user behavior to company metrics can be readily analyzed.