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Inventory Replenishment Underway

Logistics Trends and Insights

Census Bureau inventory data, for June, indicates the need for inventory replenishment as the seasonal-adjusted sales to inventory ratio declined to 1.37 Total business inventories declined 2.3% for June/May while inventories declined 5.8% Inventory Replenishment.

Why Medical Device Companies Need End-to-End Inventory Visibility

DSI

The constant and rapid movement of inventory in the medical device industry wreaks havoc on manual, paper- and spreadsheet-based systems. Inventory visibility gaps result in missed orders or excessive safety stock. Benefits of end-to-end inventory control include: Productivity.

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Logistics Companies

LeanCor

Does Your Logistics Company PFEP? Creating standard ordering processes is crucial for a logistics company to provide value to its customer. When a logistics company sets new standards for ordering, it requires major changes in the way the customer’s team members work and how suppliers receive orders. Building a PFEP (Plan for Every Part) file is one of the most effective ways for a logistics company to create standardization in an ordering process.

10 Small Business Inventory Management Tips!

Supply Chain Game Changer

Featuring Our 10 Best Inventory Management Articles! Small business inventory management tips article and permission to publish here provided by Simcha Michael. Let’s look at our highly recommended small business inventory management tips! Subscribe Here! Email Address.

Supply chain inventory optimization – Beyond the analytics

Kinaxis

by Alexa Cheater From designing, sourcing and manufacturing, to distribution and consumption, your supply chain is at the heart of your customer satisfaction levels. But the sheer complexity of supply chain networks, and the impact design decisions have on operational performance, makes supply chain inventory management aligning inventory investments with on-time customer delivery and margins a major challenge. Implementing inventory optimization.

What is Inventory Shrinkage?

Supply Chain Game Changer

Featuring Our 10 Best Inventory Management Articles! Inventory Shrinkage article and permission to publish here provided by Jake Rheude at redstagfulfillment.com. There are many terms for inventory shrinkage: warehouse shrinkage, product shrinkage, loss of product.

Omnichannel In Manufacturing: Why Manufacturers Are Following Retailers to an Omnichannel World

Cerasis

The application of omnichannel in manufacturing primarily focuses on the collaboration between suppliers, or vendors, and distributors. The Problem: Seamless Omnichannel Experiences Extend Beyond Retailer-Customer Relationships Keeping up with customers’ demands has natural implications for business-to-business sellers, including manufacturers. Manufacturers still using disjointed processes and operating in functional silos are unable to keep up with demand.

Trends In Manufacturing: 5 Tangible Technologies are Shaping the Future of Manufacturing Now

Cerasis

Continuous improvement is part of the game in manufacturing. Among the new trends in manufacturing improving the industry, additive manufacturing and cloud-based systems will push manufacturing forward in 2017. In fact, rapid design and lightning-fast prototyping, reports Mark Dohnalek of Manufacturing Business Technology magazine , will allow manufacturers to design and produce products in a few days, if not hours. Manufacturing

6 Questions To Ask 3rd Party Logistics Companies for 2015 and Beyond

Cerasis

With an ever-increasing pool of third-party logistics (3PL) providers to outsource shipping needs to, understanding how to select the best 3PL is the difference between reaching your existing customers and gaining a new market share. Many different factors have been previously discussed on specific details of selecting a 3PL , but have you truly learned how to identify the top-notch 3rd Party Logistics Companies from the fly-by-night, intermediary 3rd Party Logistics Companies?

Digital Inventory Management Key Battleground in Transformation of Brick-and-Mortar Retail

Cerasis

As e-commerce growth accelerates, shippers are working overtime to manage available inventory. It catalyzed brick-and-mortar retailers to offer online shopping opportunities, which require much more than manual inventory management practices. As a result, brick-and-mortar retail has become more focused on digital inventory management, a building block in the road to omnichannel supply chains , than in the past.

Segmenting Your Inventory by Gross Margin and Demand Variability

ToolsGroup

Gartner Research analyst Paul Lord has developed a thought-provoking approach (shown in the above diagram) for tailoring supply and inventory tactics to different inventory segments. Traditional ABC inventory models segment inventory into A, B and C categories based on annual consumption value. As we showed in a previous blog, it’s not the only way to segment your inventory, nor nearly the best. Lord calls this “situational inventory”.

DiManEx introduces Business Targets to Help Companies Identify the Value of Digital Inventory More Quickly

DiManEx

DiManEx is making it even easier for customers to select the right parts to build their digital inventory, driven by business objectives like lead time improvement and inventory value reduction. In this uncertain time, companies are hard-pressed to build a more flexible supply chain.

Lean Manufacturing: Is it Really Worth It? 16 Big Benefits Say, “Yes.”

Cerasis

Customer expectations of reliable quality and rapid delivery forces today’s manufacturers to either shorten cycle times or lose business. There are multiple good models for lean manufacturing operations. Who Needs Lean Manufacturing? A company in need of lean manufacturing practices tends to be easy to identify, typically displaying multiple of the following symptoms of operational deficiency: Inventory amasses in buffer stocks.

Lean 263

Drop Shipping: A Perfect Fit for Supply Chain Operating Networks

Talking Logistics

As reported last month by Jennifer Smith in the Wall Street Journal , “A growing number of retailers are relying on suppliers to ship online orders directly to customers, a strategy they hope will help them compete with e-commerce rivals without spending more on inventory. The practice, known as drop shipping, lets retailers offer more products for sale on their websites—such as multiple colors of the same sweater—without having to keep those items in stock.

The Complete Guide To Calculating Total Manufacturing Costs

Unleashed

To calculate total manufacturing cost you add together three different cost categories: the costs of direct materials, direct labour and manufacturing overheads. Expressed as a formula, that’s: Total manufacturing cost = Direct materials + Direct labour + Manufacturing overheads.

What is Drop Shipping? How does Drop Shipping work?

EMERGE App

But you don’t have the capital to invest in it, or perhaps you’re reluctant to leave your day job and invest in your own eCommerce company. If you’re that kind of person, then drop shipping is the thing for you. What is Drop Shipping? Drop shipping is a business method where you (store owner/ retailer) ship products directly from manufacturers or wholesalers to the customer. You don’t need to own a warehouse and pile up the inventories.

4 Key Trends to Watch in Smart Manufacturing and Supply Chain

Cerasis

The advancements in 3D printing and 'Additive Manufacturing,' coupled with supply chain efficiencies, could make distributed manufacturing a reality, ushering in the era of smart manufacturing. The Continual Coverage and Now Reality of Smart Manufacturing with 3D Printing. I remember reading an MIT paper on manufacturing technology trends a couple of years ago. It had a fascinating mention of " Additive Manufacturing " (AM) and how it could be a game changer.

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. for example, compared to shipping state-to-state.

3 Inventory Control Techniques to Improve and Maintain Inventory Accuracy

Unleashed

Inventory accuracy is vital to an organisation’s long-term success. Profits depend on the sale of inventory stock and if you don’t know what or how much you are selling then you could be missing an opportunity to maximise sales. Having poor and inaccurate inventory control can be costly because it causes issues such as unplanned stock-outs, the shipping of wrong products to customers, wasted resources trying to locate misplaced items and inventory shrinkage.

Strategic Logistics: 8 Steps to Controlling Inventory Flow & Driving Warehouse Efficiency

Cerasis

Today we will talk about the flow of strategy as pertains to inventory flow and driving warehouse efficiency. Staying Strategic in the Warehouse with Better Inventory Flow. Throughout the entire order fulfillment process, companies have a duty to ensure optimum warehouse efficiency by appropriately controlling inventory flow. Companies must also consider the potential impact of returns and warehouse capacity. Transaction-Based Movements Inventory Flow.

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.

The Coronavirus Pandemic Rewarded Companies with Foresight

Enterra Insights

Companies that had the foresight to embrace online (omnichannel) operations prior to the pandemic have been richly rewarded. These big companies had already invested to build their online businesses and had cash on hand to adjust to the pandemic. ” In other words, companies with the foresight to see consumers were increasingly taking the digital path to purchase were much better situated to serve customers when the pandemic forced almost everyone to become an online shopper.

What is Inventory Carrying Cost?

EMERGE App

And we pick the most cost effective means of shipping. But while the newly arrived goods sit in your warehouse, did you know that there are also costs associated with keeping inventory? They are collectively called inventory carrying costs because they need to be paid to hold inventory. Here, we’ll explore what is meant by inventory carrying costs and their examples. What is Inventory Carrying Cost? Why Do Businesses Carry Inventory?

E-Commerce Shipping Strategy Challenges to Consider for Perfect Implementation

Cerasis

The path to perfect implementation of a new e-commerce shipping strategy is not always clear, and it comes with several challenges that can undermine the efficacy and cost-effectiveness of e-commerce. Shippers need to understand these challenges, the characteristics of an e-commerce shipping strategy and a few best practices to overcome such issues. Determine e-commerce shipping costs and pricing models. Integrate your platform with shipping systems.

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.

RFID and IoT Providing Double Benefits for Automotive Manufacturers

Cerasis

RFID, which usually comes in the form of a miniscule chip that utilizes radio waves in the identification and tracking of specific people, objects, tools or vehicles, offers a number of benefits to the manufacturing industry in general. This technology is able to bolster supply chain and inventory management by using a digital database of raw materials, finished goods, and current production cycles. It’s also useful in enterprise resource planning and shipping logistics. .

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.

Analytics in Distribution and Manufacturing Taking Center Stage

Cerasis

Part of this drive toward more interest in analytics in distribution and manufacturing comes from the ability of analytics to reduce inefficiencies dramatically and increase productivity in both physical and virtual sales environments. Furthermore, analytics are becoming more widely available through the cloud, and manufacturers and distributors of any size can reap significant benefits from implementing analytics in their operation, explains Eric Smith of Modern Distribution Management.

Six Ways Warehouse Inventory Management Software Optimizes Efficiency

IQMS

The Warehouse Inventory Management Software market grew to $1.4B Warehouse Inventory Management software and systems help reduce infrastructure costs and enable the reallocation of existing IT resources to drive productivity improvements, according to IDC. Warehouse Inventory Management Software is seeing increased adoption as manufacturers expand globally through mergers, acquisitions, and regionally-focused manufacturing strategies.

What is Inventory Optimization?

EazyStock

What is inventory optimization? You’ve heard of inventory management, and you probably already have some inventory management practices implemented in your supply chain. So what is inventory optimization? According to Wikipedia, inventory optimization is: “a method of balancing capital investment constraints or objectives and service-level goals over a large assortment of stock-keeping units (SKUs) while taking demand and supply volatility into account.”.

Calculating Finished Goods Inventory

EMERGE App

As a manufacturer of goods, you’re likely to have finished goods inventory in your business. In addition to worrying about sales forecasts and production schedules, there’s also the issue of properly calculating finished inventory for reporting and decision-making purposes. Firstly, we’ll start with describing finished goods inventory. Then we’ll explain why you should pay attention to finished and other forms of inventory. Introduction.

Inventory Management vs Product Information Management (PIM)

Supply Chain Game Changer

The following Product Information Management (PIM) article was written by guest author Alex Borzo, a content contributor at Amber Engine , a software company passionate about eCommerce. Inventory management starts with the fundamental in and out of your supply chain. Subscribe Here!

ERP Sustains Manufacturing during COVID-19

IQMS

The COVID-19 pandemic has pushed manufacturers to rapidly shift gears, from addressing work-from-home policies to managing extreme swings in demand and uncertain supply chains. In the process, it has highlighted an aspect of manufacturing ERP that is not as visible in more normal times— business continuity. Never in the history of ERP have we seen it play a bigger role in the continuance of manufacturing operations around the world. All Posts Manufacturing Trends & News

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.