Unleashed

FEBRUARY 14, 2024

Finished goods inventory are products that have been through the manufacturing process and are now ready for sale. This article breaks down how finished goods are calculated and some key inventory management methods for tracking them as they move through your business. What are finished goods inventory?

Inventory Reduction 52

Inventory Reduction Inventory Manufacturing Procurement Inventory Management Software 52

Unleashed

SEPTEMBER 7, 2021

In this guide to barcodes in inventory management: In order to apply barcodes to inventory management, it is important to understand the basics of the barcode system. Hence, some companies will find corded barcode scanners to be all they need, where other companies require wireless scanners to support their online inventory management.

Inventory Management Software 96

Inventory Management Software Inventory Management Inventory Reduction Inventory 96

Supply Chain Shaman

JULY 18, 2017

Companies are questioning how to move forward. Last week, I spent time with large chemical companies engrossed in this discussion. Let’s take a look at the world of the chemical manufacturer. As shown in Figure 1, the company has been unable to maintain balance on the portfolio of cost and inventory.

Supply Chain Planning Software 197

Supply Chain Planning Software Chemicals Supply Chain Design Software Sourcing Strategies 197

Supply Chain Shaman

JUNE 7, 2018

When we study 600 public companies by peer group, at the intersection of inventory turns and operating margin, only 5% drive improvement. To make the argument, let’s look at industry orbit charts in aggregate for the period of 2006-2017 for the apparel and chemical companies. Chemical margins are following oil prices.

Supply Chain Planning Software 223

Supply Chain Planning Software Supply Chain Design Software Optimization Software Forecasting Software 223

Supply Chain Opz

NOVEMBER 9, 2014

That''s why we ask our experts a very simple question " How to improve the operational efficiency in global supply chain? ". Reducing lead times from suppliers can help turn inventory faster, freeing up cash and ultimately satisfying customers. However, you may wonder what kind of practices really work.

Waste Reduction 274

Waste Reduction Cost Reduction Strategies Supply Chain Planning Software Inventory Reduction 274

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). The focus is not on who but on how to improve outcomes. Does functional ownership matter?

Supply Chain Planning Software 369

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

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

The Logistics & Supply Chain Management Society

OCTOBER 15, 2023

It seems like a simple enough concept, but it is very hard to match up the know-how to a possible local supplier when you are doing this for the first time. Have discussions about inputs, maximizing current use, and finally how to best plan a sustainable end of life. So start the conversations where needed.

Optimal Sourcing 162

Optimal Sourcing Supply Chain Planning Software Singapore Logistics Network Optimization Software 162

Supply Chain Shaman

AUGUST 7, 2019

Here I share insights on how to get started using a four-step process. In Figure 1, we show the aggregate trend of the chemical industry in an orbit chart format showing year-over-year results at the intersection of two metrics operating margin and inventory turns. inventory turns. inventory turns.

Supply Chain Design Software 250

Supply Chain Design Software Supply Chain Planning Software Supply Chain Software Supply Chain Design 250

RFgen

MARCH 12, 2024

In inventory management, the FIFO (First-In, First-Out) method takes center stage, offering a performance of unmatched clarity and efficiency in the world of stock control. Imagine your inventory as a flowing river, where the oldest water—your earliest products—moves forward to be used first, ensuring nothing stagnates or loses its relevance.

Inventory Management Software 79

Inventory Management Software Inventory Reduction Inventory Management Material Savings 79

Talking Logistics

MAY 24, 2017

“Capacity assurance is critical,” said Jeff Baxter, Director of Supply Chain at Pilot Chemical Company in a recent episode of Talking Logistics. In particular, he discussed the use of a dedicated virtual fleet as a capacity assurance option, which they have set up and manage for Pilot Chemical.

Chemicals 30

Chemicals Capacity Company Third Party Logistics 30

DELMIA Quintiq

MAY 11, 2022

It can be made with many different characteristics, for example, different chemical compositions to increase strength, durability, etc. In addition, increased traceability of steel products and better sorting and monitoring of inventory depends on digital and automated processes for faster and more efficient processing.

Material Savings 317

Material Savings Supply Chain Planning Software Optimization Software Analytics Software 317

Logility

OCTOBER 29, 2021

Process manufacturing companies — such as those in the packaging, specialty chemicals, and rolled and woven goods sectors — are dealing with overcapacity as well as price pressures and continuing supply chain uncertainties. Is inventory keeping up with demand? How much of a particular ingredient do you really need?

Manufacturing Procurement 130

Manufacturing Procurement Forecasting Supply Chain Planning Software Forecasting Software 130

ShipBob

JANUARY 25, 2021

In this guide, we’ll go over how Section 321 works, and how to use it to your advantage. If you’re looking to store inventory with a third-party logistics (3PL) company with US-based fulfillment centers , Section 321 allows you to save significantly on importing expenses, which ultimately reduces international fulfillment costs.

Expense Reduction 52

Expense Reduction Cost Reduction Strategies Price Reduction How To 52

Logility

OCTOBER 23, 2017

This is the first time I have owned a pool and it has taken some time to understand how to sense, analyze, and respond to changing water chemistry to ensure the optimal pool experience at the lowest total short and long-term operating cost. Someone also has to add the appropriate amounts of chemicals.

Supply Chain Software 100

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

ToolsGroup

MARCH 13, 2018

how to segment your inventory portfolio to determine which spare parts in your supply chain are best suited for 3D printing versus other approaches. But even with improvements, 3D printing is not a cure all – including limitations on size, material and chemical composition. Hence, the MTO segment of the above graphic will grow.

Supply Chain Planning Software 180

Supply Chain Planning Software Supply Chain Design Software Supply Chain Software Supply Chain Planning 180

Logility

AUGUST 24, 2023

Your Comprehensive Guide to Production Planning Software The benefits of production planning software vs scheduling are about the granularity of the plan: capacity plans (or master production schedules) are not granular and factor in less granular things, like high level capacity, forecasts, inventory, and transfer times.

Supply Chain Planning Software 147

Supply Chain Planning Software Supply Chain Design Software Demand Planning Software Forecasting Software 147

Supply Chain Shaman

JUNE 19, 2013

The chemical and consumer electronics industries have made the most progress. It comes in many flavors–increase in inventory, changes in sales policies, new product lines– all add to the complexity. The only industry that has made progress in inventory management is consumer electronics. Balance Remains an Issue.

Forecasting 268

Forecasting Supply Chain Planning Software Agile and Lean Supply Chain Forecasting Software 268

Arkieva

JUNE 28, 2016

Sales and Operations Planning (S&OP) is a continuous business process that enables firms from hospitals to chemicals to respond to emerging situations intelligently. Demand Shaping based on buy patterns and your production and inventory capabilities. Identify latent demand opportunities. Explain the solution – huge opportunity.

S&OP 63

S&OP Procurement Analytics Analytics Software Supply and Demand 63

The Logistics & Supply Chain Management Society

MAY 28, 2022

To do so, one needs to look at the entire supply chain and pinpoint the weakest links, analysing how to improve on those weaknesses. The most valued capability for the future according to E2open’s research, is real-time visibility into demand and inventory. Creating a more resilient supply chain. The effort will absolutely pay off.

Supply Chain Planning Software 269

Supply Chain Planning Software Supply Chain Design Software Supply Chain Software Innovation 269

Supply Chain Shaman

JULY 3, 2015

Inventory Turns (15%) (based on 2014 results). As a result, when the spreadsheet is sorted, a chemical company is stack-ranked against a retail player, and a high-tech company against a food distributor. A Three-year Weighted Return on Assets (ROA) Number (25%). Growth 10% (Year-over-Year comparison of 2013 versus 2014).

Gartner 150

Gartner Supply Chain Software Demand Planning Software Modeling Software 150

ThroughPut

DECEMBER 3, 2019

Even at some of the world’s best supply chains, redirecting chemicals and other products is a Herculean effort. This is why supply chain managers are always stressing over demand forecasts — something that tops the list of most critical inventory management practices. You can’t just turn around a giant cargo ship.

Material Savings 52

Material Savings Manufacturing Procurement Shipping Saudi Arabia 52

DELMIA Quintiq

MAY 27, 2015

How do you avoid spending additional millions to cover extra inventory costs and shipping delays? Optimizing inventory in S&OP. Flawed inventory data leads to plans that are of little practical use. Page 32 of the supply chain planner’s playbook explains how to bridge the inventory gap between model and reality.

Inventory Reduction 120

Inventory Reduction Waste Reduction Cost Reduction Strategies Supply Chain Planning Software 120

Logility

SEPTEMBER 26, 2017

For more than a decade, I have implemented inventory optimization solutions for some of the world’s largest companies in industries ranging from life sciences to chemicals, from consumer goods to high-tech, and more. How are you managing risk? Related Content: eBook: The Inventory Optimization Handbook.

Modeling 113

Modeling Supply Chain Planning Software Optimal Sourcing Supply and Demand 113

ThroughPut

OCTOBER 28, 2019

Ship Smarter: How to Avoid Bottlenecks in Your Global Operations. Even at some of the world’s best supply chains, redirecting chemicals and other products is a Herculean effort. This is why supply chain managers are always stressing over demand forecasts — something that tops the list of most critical inventory management practices.

Saudi Arabia 40

Saudi Arabia Material Savings United Arab Emirates Shipping 40

BR Williams Supply Chain Management

JANUARY 18, 2021

Warehouse inventory management systems (WMS). The ideal situation for any retailer or manufacturer is to have just enough inventory on hand to sell or to keep production lines running smoothly. Excellent safety and training programs. 6 Top Factors Influencing Distribution Management. Customer Perspective. Distributor Perspective.

Inventory Reduction 89

Inventory Reduction Cost Reduction Strategies Expense Reduction Material Savings 89

ThroughPut

MARCH 23, 2020

But the consumption rate of those standard goods (inventory) presumably stays more-of-less the same. This is cash tied-up in Inventory minus a minimum safety buffer (Waste #3). The post How to Manage Supply Chain Impacts from the COVID-19 Pandemic: From Walmart to Tesla to ThroughPut Inc appeared first on ThroughPut.

Supply Chain Design Software 59

Supply Chain Design Software Supply Chain Software Agile and Lean Supply Chain Waste Reduction 59

ThroughPut

MARCH 23, 2020

But the consumption rate of those standard goods (inventory) presumably stays more-of-less the same. This is cash tied-up in Inventory minus a minimum safety buffer (Waste #3). The post How to Manage Supply Chain Impacts from the COVID-19 Pandemic: From WalMart to Tesla to ThroughPut Inc appeared first on ThroughPut.

Supply Chain Design Software 59

Supply Chain Design Software Supply Chain Software Agile and Lean Supply Chain Waste Reduction 59

Supply Chain Shaman

JUNE 14, 2018

Today, over 90% of companies have deployed ERP and APS, but as shown in Table 1, inventory levels have grown not decreased in over 80% of industries studied. And, while inventories in automotive have decreased slightly, this progress is primarily due to the shifting of inventory back to suppliers versus overall value chain improvement.

Optimal Sourcing 169

Optimal Sourcing Manufacturing Procurement Supply Chain Planning Software Agile and Lean Supply Chain 169

Supply Chain Shaman

MAY 13, 2015

Forty years ago as a chemical engineering student, I learned the tedious craft of chemical plant design. Getting good at factory design is a merit badge of sorts for the chemical engineer. Getting good at factory design is a merit badge of sorts for the chemical engineer. In this position, we designed real-world plants.

Supply Chain Design Software 150

Supply Chain Design Software Supply Chain Design Supply Chain Planning Software Agile and Lean Supply Chain 150

SCMDOJO

NOVEMBER 24, 2023

By prioritizing safety, warehouse managers can ensure that their employees can work in a secure environment, reducing the risk of injuries, costly lawsuits, and damage to inventory. Confirm all employees know how to find the closest eye wash station, first-aid kit, or fire extinguisher.

Warehousing 63

Warehousing Optimal Sourcing Material Savings Inventory Reduction 63

Supply Chain Opz

JULY 15, 2018

For example, - In some industries such as steel, chemicals, and other heavy industries, products are highly commoditized. However, books will say that service is actually a lifeline of any business and it usually goes beyond customer satisfaction surveys. Journal of the academy of marketing science, 32(3), 293-311.

Customer Service 100

Customer Service Six Sigma Agile and Lean Supply Chain Purchasing Skills 100

Supply Chain Shaman

AUGUST 26, 2015

Vendor Managed Inventory processes–once hailed as the panacea of demand sensing–largely operate in isolation within sales organizations (of the thirty-three organizations that we interviewed last year, no market leader has connected these demand signals). ” They questioned, “ How long will this recession last?

Supply and Demand 150

Supply and Demand Forecasting Modeling Forecasting Software 150

RFgen

AUGUST 14, 2017

Counterfeiters then remove the tiny integrated circuits (ICs) or microchips from the circuit boards (often by banging them), sand or chemically strip off the manufacturer’s markings, clean the chips (often in a dirty river), then dry and apply fresh markings with new part numbers. Both types are sold primarily on the riskier gray market.

Aerospace 52

Aerospace Manufacturing Procurement Supply Chain Design Software Supply Chain Planning Software 52

ShipBob

SEPTEMBER 10, 2021

How will I ensure security of my inventory? How can I make the most of the space to enable productivity? Without inventory, you can’t make a sale. They protect your staff and your inventory while also improving internal processes. . Inventory protection and storage. Inventory inspections.

Warehousing 52

Warehousing Supply Chain Design Software Inventory Management Software Inventory Reduction 52

DELMIA Quintiq

NOVEMBER 3, 2015

Their biggest one is juggling multiple order assignments, each with its own chemical compositions and heat requirements. But the ultimate question that your planners want answered is this: Which orders should we cast together and in what order, to avoid reassignment and unwanted inventory? The answer is far from simple.

How To 120

How To Chemicals Resources Meeting 120

Unleashed

AUGUST 9, 2019

While everyday consumers give little thought to the simple barcode label affixed to their purchases, businesses involved in moving inventory stock and assets understand their importance and are increasingly investing in custom barcode labels for their organisations.

Manufacturing Procurement 40

Manufacturing Procurement Manufacturing Procurement Solutions Purchasing Skills 40