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Is Inventory Waste or an Asset?

Supply Chain Shaman

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. We feel so strongly about this that we do not have an inventory planning role.” His feeling was that inventory is an asset to manage. Inventory is both. Companies need to carefully manage the asset and mitigate the waste.

Are Ocean Freight Prices Absolutely Broken?

Freightos

And the lack of demand visibility is a big contributor to China-US ocean freight rates doubling to the West Coast since June, and passing $4,000/FEU to the East Coast – which was surprising as most analysts thought that rates and profits would freefall. Is ocean freight pricing broken?

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Why Large Companies Increasingly Opt for 4PL Services

Logistics Bureau

SUMMARY: Because 4PL providers handle a company’s entire chain, including challenges that are thrown up by advances in technology, they are increasingly being favoured over third-party logistics (3PL) providers, especially by big companies with complex supply chains.

Overcome Manufacturing Supply Chain Challenges with Digital Planning

ToolsGroup

The manufacturing industry has a strong heritage of adopting game-changing technologies to deliver higher quality products more efficiently. But Rome wasn’t built in a day, and digital roadmaps that align with company goals do not take shape overnight. In a recent KPMG study, 69% of manufacturing CEOs say acting with agility is “the new currency of business; if we’re too slow, we will be bankrupt.” Excess and obsolete inventory.

[e-Book] The Essential Guide to Inbound Freight Management

Cerasis

How Big Is the Problem Of Inbound Freight Management? Inbound freight management is receiving a lot of attention as businesses continue to look for ways to manage shipping costs. Depending on the industry and size of the company, a business can spend more than 40% of its annual freight budget on inbound shipping, according to the Aberdeen Group, a research firm in Boston. of surveyed companies’ total sales, according to Aberdeen’s results.

Steel Fabrication and General Manufacturing Tips and Tricks for 2015

Cerasis

All metal fabricators realize that they have to do some analyses before the company purchases equipmen t or hires new people, but now there seems to be a new intensity about the process. Still in all most fabricators have seen steel sales rise and customer demands and inventory requirements increase over the past several years. Now is the Time for Manufacturing to Look at Logistics Efficiency. Manufacturing seems heading for a long awaited comeback.

31 Motivations for Reshoring Manufacturing & Updated Reshoring Stats

Cerasis

Many off-shore manufacturers have returned to the U.S., And, according to a Boston Consulting Group (BCG) study, 54% of companies with above one billion in revenues are now considering reshoring. Those changes, along with high costs of transporting materials and finished goods to and from overseas locations, make the value of reshoring likely to become a compelling financial reality for many manufacturers. Transportation and freight costs are reduced.

4 Best Ways Manufacturers Can Perfect Their Supply Chain

USC Consulting Group

Leading the way — and defying the odds — are manufacturers. Yet with COVID-19 and product shortages still a reality, some manufacturers are wondering what they can do to improve their supply chain resiliency to prepare for present and future disruption. “Survey Committee members reported that their companies and suppliers operated in reconfigured factories, with limited labor application due to safety restrictions.”. Increase your inventory.

Top 25 3PL warehousing companies in 2020 (by revenue)

6 River Systems

Third-party logistics companies ( 3PLs ) specialize in distribution, warehousing and fulfillment services. The core competency of these companies is logistics , and they do it well. Revenue data is sourced from the companies’ websites and market research platforms such as Macrotrends.

The Benefits of Evolved Vendor Managed Inventory Model Led by Web-Based VMI

Cerasis

So why do we feature content related to Vendor Managed Inventory? In a VMI model, part of the equation is the inbound & outbound flow of the inventory. Inventory is then put on pallets and shipped as freight. Distributors will inbound to a manufacturer the inventory needed and transportation management, especially inbound freight management, efficiency is paramount to an effective vendor managed inventory model.

Manufacturing ERP Plays a Key Role for Sustainability

QAD

While consumer products manufacturers previously led the way for sustainable manufacturing practices, a growing number of manufacturers in other sectors are treating sustainability as an important operational objective to increase global competitiveness. The Sustainability Movement in Business and Manufacturing. Many manufacturers now publish separate sustainability reports or incorporate the information in their annual report including Nexteer, Tesla, Ball Corp.,

Vendor-managed inventory and distribution planning in the food and beverage industry – here’s something to chew on

Kinaxis

Among the many supply chain initiatives taking place today, vendor-managed inventory (VMI) has become an increasingly effective process and business model to help organizations share risk and information between vendors and customers — while benefitting from lower stockouts, reduced uncertainty and lower costs. As with any industry, food and beverage faces its own unique set of supply chain challenges, including: Expiring ingredients, manufactured product and packaged goods.

Improving inventory management

EFT

Time and again companies have found themselves without key components or in-demand products. Factory closures, blank sailings, massive cuts to air freight, reduced warehouse capacity and more have hit business-as-usual and often turned carefully calibrated chains on their head.

The Top 5 Manufacturing Blogs of 2016 …So Far

Cerasis

We continue our series on the top 5 blogs in our 4 main categories ( Freight , Manufacturing , Logistics , and Supply Chain ). Today's post will cover the top 5 manufacturing blogs from 2016 so far. Top Manufacturing Blogs from the First Half of 2016 So Far. The manufacturing blogs category most top viewed blog posts from the first half of 2016 included several elements of manufacturing. 6 Manufacturing Trends to Watch Out for in 2016.

10 Commandments of Inventory Management

Supply Chain Opz

Inventory management is one of the most important tasks for supply chain management professionals. However, most inventory control theories are too complicated or too difficult to apply to real world situations. Then, this article will show you 10 simple principles that you can use to streamline your inventory management practices right away. 3) Forecast at the right level Standard inventory management textbooks suggested that forecast be done at a product family level.

Why Inventory Revaluation Is Your Next Important Task

Unleashed

All product-based businesses need to track the value of their inventory – and this goes double in a period of dramatic upheaval. The value of your inventory has likely changed thanks to the Covid-19 crisis, and you should consider revaluing it before you make any major business decisions. What is inventory revaluation? Inventory revaluation is the adjustment of the costs of inventory to reflect changes in the recorded cost. Your inventory becomes obsolete.

Vendor Managed Inventory Model for Supply Chain Cost Reductions

Cerasis

Below I will outline how a vendor managed inventory model, in conjunction with reverse marketing, value analysis, and collaboration will achieve supply chain cost reductions. Vendor Managed Inventory Model for Supply Chain Cost Reductions. A means of optimizing Supply Chain performance in which the manufacturer is responsible for maintaining the distributor’s inventory levels. The distributor maintains the inventory plan. Miles of General Electric Company.

What’s the Difference Between Freight Management and Logistics Management?

Supply Chain Game Changer

In business it is not uncommon to hear the words “Logistics Management” and “Freight Management” thrown around interchangeably. “Logistics” and “Freight” both conjure up imagery associated with the movement and transportation of goods whether by truck, car, rail, ocean liner or any other form of transportation. What is Freight Management? But what activities are thus considered to be a part of Freight Management?

4 Ways to Lift Manufacturing Productivity: The MFP Approach

Unleashed

The issue is also particularly bad for manufacturers. According to the ONS , in the year to December 2019, UK manufacturers became 1.6% And more to the point, how can an individual manufacturing firm – in the UK or elsewhere – lift their own productivity performance? From there, a four-part strategy for boosting manufacturing productivity becomes clear. Manufacturers tend to be deeply invested in equipment, property and technology.

What’s new in the automotive supply chain? (Hint: Inventory Replenishment Policies)

The Network Effect

Today I want to explore how automobile suppliers are improving their operations via inventory replenishment policies. Effective inventory replenishment policies in use today include the 830/862 converted to a delivery release, KanBan, Min/Max, and Sequencing. Improved technologies now provide the ability to optimize truckloads simultaneously with inventory using pull policies. Typical measurements include inventory turns, truck utilization, and premium freight reduction.

The World’s Largest Brands Are Using Inventory Accuracy and Yard Automation to Fight COVID-19 Chaos

PINC

In an uncertain world where supply chain disruption is becoming a certainty, here’s how good inventory management enabled by automation can help companies gain the supply chain visibility they need to keep the wheels turning. ” Maintaining the Right Inventory Balance. “But amassing inputs or inventory puts them at risk for markdowns or lost investments if merchandise goes out of style or materials deteriorate before they can be used for production.”

Inventory Management Techniques That You Need to Know About

EMERGE App

Not Another List of Inventory Management Techniques. I want to start by saying that this is not an exhaustive list of all the possible inventory management techniques available for all industries. Rather, it’s a carefully curated list of inventory management techniques that work for our wholesale and distribution customers around the world. What we will cover are practical inventory management techniques that: Our customers use; and.

5 ways ERP improves inventory visibility in your supply chain

OptiProERP

Inventory visibility is one of the critical aspects of any manufacturing business. It helps organizations understand how much inventory is available, at what location , and at any given point of time. To ensure inventory visibility, you should have access to view, manage, and update your inventory status from trusted software. What Improved Inventory Visibility does. Inventory ties up money. How ERP Improves Inventory Visibility.

What is the Hyperconnected Era & “The Internet Of Things” and What does it Have to Do with Manufacturing & Logistics?

Cerasis

Editor’s Note: This is our second post in a collaborative blog post series about mobility in manufacturing & logistics along with Catavolt, who helps manufacturing organizations drive operational excellence with mobile apps. We encourage our audience to visit The Catavolt Blog for more relevant posts about mobility in manufacturing for best practices, tips, and great industry insights. appeared first on Freight Logistics Company | Cerasis.

Why Inventory Revaluation Is Your Next Important Task

Unleashed

All product-based businesses need to track the value of their inventory – and this goes double in a period of dramatic upheaval. The value of your inventory has likely changed thanks to the Covid-19 crisis, and you should consider revaluing it before you make any major business decisions. What is inventory revaluation? Inventory revaluation is the adjustment of the costs of inventory to reflect changes in the recorded cost. Your inventory becomes obsolete.

Can Co-opetition Save your Company?

Elementum

Co-opetition—a tactic where companies collaborate with their competitors—could be the surprising answer to some industries’ biggest problems. Underestimating Apple and the early iPhone, Blackberry didn’t see the need to cooperate with the right OS developers to create an easy-to-use app store and enough third-party programs to fill their inventory. For instance, despite patent disputes, Samsung is set to manufacture the new iPhone’s main chip.

How Are Companies Overcoming Disruptions to Their Supply Chains?

Arena Solutions

As companies deal with the impact COVID-19 is having on their business, it is interesting to see where companies are focusing their technology investments in these challenging times. It wasn’t long ago that the headlines highlighted global trade wars and the effect that was having on manufacturing and supply chains in certain parts of the world, like China. So how are companies using PLM systems in the short term to overcome disruptions to their supply chains?

How A Brewery Company Manages Contracted Transporters In Real-time

Abivin

Introduction This brewery company has a long history of 129 years of development with 22 subsidiaries and 5000 employees. They kept its traditional recipe for beer with the help of modern technology and highly qualified staff to grow into one of the leading brewery companies in Vietnam. As a big manufacturer, they follow a strict logistics process to manage transportation in real-time, which has been proven to improve efficiency and profit.

What Is an Inventory Management System & Its Role in Omnichannel Fulfillment?

Veridian Solutions

Supply chain leaders often interchangeably refer to both a warehouse management system and an inventory management system as one and the same. However, systems used to manage inventory refer to the combination of technology, including hardware and software, for the following: Product identification Product matching to orders Data analysis Product labeling and management Documentation Reporting . Challenges of Limited Inventory Management Capabilities.

Outsourcing Technology to 3PLs: 9 Reasons Why Manufacturers Will Continue to Invest

Cerasis

Automation sales declined throughout 2016, but industry experts believe a major shift toward third-party companies is coming, reports Patrick Burnson of Supply Chain Management Review Manufacturers need to increase production without increasing overhead costs, and outsourcing technology to 3Pls is the perfect solution. Manufacturers Need to Process Higher Volumes of Information. Inbound and outbound freight programs exist.

Is Google the most innovative supply chain company in the world?

Freightos

By 2017, the market research company expects the number of global smartphone users to increase to 2.50bn and represent 33.8% Marketplaces such as Alibaba’s Tmall, caters to suppliers and manufacturers. Inventory management and replenishment as well as reverse logistics can now be managed by mobile as well as payments. yellowbox]Check out where the future of online sales for the freight industry is heading with this free white paper.[/yellowbox].

10 Inventory Management Hacks You Can Do in 10 Days

Supply Chain Opz

Inventory management is one of the most important tasks for supply chain management professionals. However, most inventory control theories are too complicated or too difficult to apply to real world situations. Then, this article will show you 10 simple principles that you can use to streamline your inventory management practices right away. 3) Forecast at the right level Standard inventory management textbooks suggested that forecast be done at a product family level.

Integrated Supplier Management Boosts Performance

QAD

The disruption caused by the COVID-19 pandemic has certainly increased the awareness among manufacturers for improved communication and collaboration with suppliers. Manufacturers require integrated supplier management to ensure the timely flow of goods and information.

How Are Companies Overcoming Disruptions to Their Supply Chains?

Arena Solutions

As companies deal with the impact COVID-19 is having on their business, it is interesting to see where companies are focusing their technology investments in these challenging times. It wasn’t long ago that the headlines highlighted global trade wars and the effect that was having on manufacturing and supply chains in certain parts of the world, like China. So how are companies using PLM systems in the short term to overcome disruptions to their supply chains?

Supply Chain Personified! The Link Between Your Company Silos!

Supply Chain Game Changer

How many parts of your company act as independent silos? How many functions in your company conduct themselves like they are islands? One of the main problems in a functionally organized company is that those functions over time can become isolated from each other. The responsibilities, metrics, skills, strategies and mandates for each function can cause people to put their functional focus ahead of the greater company objectives. Manufacturing/Operations.