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Why Supply Chain Managers & Procurement Should Collaborate

Cerasis

The roles of logistics and procurement in an efficient supply chain cannot be overstated. According to Paul Myerson , reports Industry Week, up 70 percent of a company’s costs come from procurement and logistics operations. Meanwhile, this large volume of expenses is directly related to 80 percent or a company’s working capital via inventory and accounts payable. So, why do supply chain managers not take advantage of this data with respect to procurement?

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.

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How Food Manufacturing Software Drives Profit [w Case Studies]

Unleashed

Effective inventory management is crucial to reducing costs in any manufacturing business. Cost reductions in food manufacturing can be achieved by using food manufacturing software that improves ordering processes and minimises overstocking of expensive raw ingredients.

Procurement Interview Questions & Answers

Supply Chain Game Changer

Procurement, or Purchasing, is an area of Supply Chain that involves and requires very specific skills and expertise. This is particularly apparent if you are hiring a Procurement professional, you are looking for a Procurement job, you are looking to outsource anything, or you are dealing with Procurement people in the course of conducting business. Check out this list of 25 Procurement and Purchasing questions and answers. Subscribe Here! Email Address.

ANCA Streamlines Procurement with the QAD Supplier Portal

QAD

It’s a niche industry, but also one of the cornerstones of discrete parts manufacturing. They’re complex machines assembled from thousands of parts, many purchased from highly specialized manufacturers. In some cases, only one or two companies in the world can produce the components ANCA needs. Inevitably, the procurement process is complex and challenging to manage. Procurement System Improvement Goals. Manage consignment inventory.

COVID-19: Implications on inventory planning, sourcing and procurement

EFT

It has been a huge challenge to understand what is changing moment-to-moment, let alone predicting what will happen, so eft by Reuters sat down in a webinar with experts working at the coalface of inventory planning and distribution to understand what can be done to survive and thrive. For Pedro Paiva, Operations Director, EMEA for major footwear manufacturer Alpargatas, which owns the Havianas brand, they “Estimate that we will lose between 30% and 50% of sales this year.”.

Procurement & Suppliers: Paying Attention to Terms & Conditions to Keep Supplier Relations Postitive

Cerasis

Editor's Note: Today's blog is by our great friend, Chuck Intrieri where he gives us a fantastic example of how Procurement and Suppliers can enhance Supplier Relations by navigating the "Battle of the Forms.". However, in many circumstances, the supplier will send an invoice that contains one set of terms, while the procurement professional will issue a purchase order which contains additional or different terms. Procurement

Manufacturing Gains From Machine Learning

IQMS

Improving semiconductor manufacturing yields up to 30%, reducing scrap rates, and optimizing fab operations is achievable with machine learning. Bottom line: Machine learning algorithms, applications, and platforms are helping manufacturers find new business models, fine-tune product quality, and optimize manufacturing operations to the shop floor level. New products are proliferating in manufacturing today, and delivery windows are tightening.

6 Manufacturing Trends to Watch Out for in 2016

Cerasis

As we close the year of 2015, we want to take a look at some manufacturing trends for 2016. We look at 6 core areas that manufacturing companies will take a long look at as they gear up for a successful 2016. E-Commerce for Manufacturing. The Internet’s large-scale global penetration has spawned an increasingly large number of technology and web-savvy consumers, creating a huge opportunity for both industrial manufacturers and their end customers.

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4 Reasons to Integrate Order-to-Cash & Procure-to-Pay

OneSCM

Mid-market companies can no longer afford to manage their supply chains in individual silos that often produce inaccuracies in overall performance and constrain supplier relationships. To combat inefficient operational models, mid-market companies need an end-to-end view of the supply chain by integrating revenue and expense operations. The ease of implementing and onboarding supply chain management solutions gives wider visibility in manufacturing, as well as orders and inventory.

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.

How Printed Product Labels Can Assist Manufacturing

Unleashed

If you run a manufacturing business, you’ll appreciate the complexities of procuring, producing and shipping products. It’s a busy process with production lines churning out goods, warehouses stacked full of inventory stock, and transportation logistics at both sides of the supply chain. One of the best ways to stay on top of your manufacturing process is through printed product labels. In the manufacturing supply chain, materials and goods are constantly moving.

How to Sustain a Lean Culture in Manufacturing & Supply Chain

Cerasis

Today I will discuss how a company can sustain a lean culture once they have implemented lean practices in order to achieve continuous improvement. Your company has started the lean journey, but how do you sustain it? When a Lean culture is truly developed in a company, and old behavior, habits, and ways of working are modified, people become process improvement and problem solvers. Competition is one way to sustain Lean in any company.

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4 Ways Technology Can Simplify Inventory Management

EazyStock

Inventory is the biggest entry in the balance sheet of many distribution companies and fast deliveries are becoming increasingly important in today’s digital world – especially as an increasing number of people are working remotely. of retailers and manufacturers.

Study Shows Two-Thirds of Companies Yet to Execute Digital Transformation in Supply Chain Planning

ToolsGroup

New survey finds that most companies are still formulating and gaining support for a digital strategy, with fear of change and data challenges as leading roadblocks. . September 26, 2019) A new study by ToolsGroup, a global leader in supply chain planning software, and Spinnaker, a supply chain services company, has found that only 7% of companies are reaping the benefits of digital transformation of supply chain planning. PRESS RELEASE.

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Supply Chain Analytics- Towards Intelligent Manufacturing

ThroughPut

Supply Chain Analytics aims at enhancing the manufacturing operational efficiency and overall operational effectiveness by enabling informed data-driven decisions across the factory floor. Regular stock-out issues causing fluctuating inventory levels or excess inventory.

What are the 3 Decision Rules for Inventory Control?

Unleashed

Effective inventory control is a process. It involves many areas of an organisation and is a delicate balance between the three categories of inventory costs. As one of a business’ greatest assets, inventory is also the cause one of the hardest decisions manufacturers, retailers and eCommerce businesses have to make. Therefore, it is important to establish a set of guidelines to improve inventory decisions and optimise inventory control.

The State of Supply Chain Trends Part II: AI, Procurement, & the New Lean

Cerasis

From artificial intelligence to refocusing on procurement, the state of supply chain continued to explode throughout 2016, and you need to understand why. A 2016 Accenture survey, reports RF Gen , explained how more companies are taking advantage of AI benefits through linked supply chains. Essentially, a supply chain that is linked together is more responsive and intelligent than individual workers or silos within the company. Procurement’s Role Did Become More Important.

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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.

How Product Labelling Can Help Manufacturers Increase Efficiency and Accuracy

Unleashed

Manufacturers today are faced with a range of evolving requirements that complicate this process and leave many businesses merely accepting this process as the cost of doing business. Although not new, product labelling and barcodes do not reach their complete usefulness if not used in tandem with a manufacturer’s entire operations. Many manufacturers have started to follow suit. This way you know exactly where your inventory stock is.

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.

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.

7 types of manufacturing wastes and how to reduce them

Unleashed

Manufacturing waste is something business owners often overlook, yet left unchecked, it can cost a business a significant amount of money. From transportation waste, inventory waste, defective products and more, waste can accrue in a range of areas across the company.

4 Ways To Improve Procurement For Increased Customer Satisfaction

Slimstock

Though it’s often overlooked as an element of customer satisfaction, procurement is an essential component for delivering that satisfaction. Procurement involves buying goods and services that keep an organization operating; it ensures warehouses are well-stocked with the proper supplies at all times. Procurement can be responsible for up to 70 percent of a company’s revenue , so small changes in procurement functions can have a major impact on profitability.

Supply Chain Dashboards – Key Metrics For Manufacturers

Silvon Software

As I mentioned in my previous post, Sales Dashboards – 16 Metrics for Manufacturers , a strategy for measuring business performance should also incorporate metrics that focus on the supply chain and other operational areas of the enterprise. Nevertheless, measuring supply chain performance is critical for a manufacturing concern. Inventory Turns and Sales-to-Inventory Ratio.

Manufacturing Quality Issue Turns into a Huge Success Story for Procurement

EC Sourcing Group

If you sell a premium product, manufacturing quality issues can kill your image and your bottom line. His company was called in by a producer of high-end beverages. The manufacturer made several attempts to rectify the issues but were unsuccessful. Here is a brief overview of what they did: They scoured the US, Europe and Asia for suitable bottle manufacturers. Ultimately, they invited 18 companies to participate in the RFP.

5 Ways of Creating Resilient Supply Chains in Manufacturing

ThroughPut

They are more reliable, tune in well to volatilities and help build the necessary trust between the manufacturer and the final customer. A resilient supply chain has great visibility and the agility to shift sourcing, manufacturing and distribution activities around fairly rapidly.

5 Ways of Creating Resilient Supply Chains in Manufacturing

ThroughPut

They are more reliable, tune in well to volatilities and help build the necessary trust between the manufacturer and the final customer. A resilient supply chain has great visibility and the agility to shift sourcing, manufacturing and distribution activities around fairly rapidly.

Warehouse Cost Reductions: 3 Understandings Driven By Inventory Management & Lean Principles

Cerasis

Today, I will now address how a focus on inventory will allow for warehouse cost reductions as well. These are based on my 40 years working in operations at Schwinn and other companies as well as consulting many companies on how to select the best 3PL for my client's needs. A Focus on Inventory Control Begets Warehouse Cost Reductions. First, look at inventory as MONEY/CASH. Inventory cost is defined as the cost of holding goods in stock.

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Seasoned Leadership in Action™ – An Interview with Kristie Syndikus, VP Procurement at Maple Leaf Foods!

Supply Chain Game Changer

This interview is with Kristie Syndikus, VP of Procurement at Maple Leaf Foods. It was very easy to see early on that Kristie had a great aptitude for Procurement and Sourcing. Kristie Syndikus, VP Procurement at Maple Leaf Foods. At one point I was given a challenge to achieve Industry leading breakthrough results in Inventory performance , in a short period of time. Over the last 20 years I have worked in the electronics manufacturing industry. Subscribe Here!

The Procurement Economy in 2019: Bracing Yourself for the Future

Jaggaer

As we’ve explored in our last two blog posts, economists are predicting a decline in global economic growth due to policy and trade issues both in the United States and the European Union , bringing an increased risk to supply chains and procurement organizations. This also required creating a flexible supply chain by creating preferred responses to possible changes, as well as realigning inventory in order to free up cash. Procurement Resources

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.

BI in Manufacturing: 3 Realistic Steps to Data Mastery in 2020

Unleashed

may sound exciting for manufacturers – with its IoT-enabled factories, all-singing all-dancing ERP software, and AI-powered insights – but frankly this is fantasy land for the vast majority of manufacturers. To survive, manufacturers – with their long lead times, and vulnerable supply chains – must be laser-focused on the metrics that matter; able to respond rapidly as conditions change. Here are three realistic steps manufacturers can take for data mastery in 2020.

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How Supply Chain Can Make or Break a High Growth Company!

Supply Chain Game Changer

Procurement – the effective purchasing of raw materials, back-office goods and professional services – as well as Logistics – the orchestration of the movement of those goods – might not seem to be as important as sales, marketing, R&D or finance at first blush. Supply Chain Management is an important factor for fast-growing hardware manufacturing companies, whether they’re producing goods overseas or at home. Subscribe Here! Email Address.

Inventory Success: 4 Steps to Optimize Your Supply Chain

My Office Apps

Inventory Success: 4 Steps to Optimize Your Supply Chain. A wise VP of Operations once told me that the primary reason someone in his position loses his job boils down to one thing – Inventory. Blame gets placed by having either too much or too little inventory. Too much inventory will tie up cash and could result in partial or total write-offs if the material needs to be scrapped or liquidated at fire sale prices.