EazyStock

JUNE 24, 2020

Common challenges include unpredictable customer behavior, unreliable inventory supplies, rising logistical costs and internal capacity constraints. Inventory optimization software is an important piece of the puzzle. It is critical to helping inventory management teams understand and manage demand and supply variables.

Inventory Management Software 98

Inventory Management Software Inventory Management Procurement Solutions Forecasting Software 98

Logistics Viewpoints

MAY 8, 2023

Increasingly it is recognized that the executive planning meetings, that typically take place once a month, should be chaired by a top floor executive – a chief financial officer, chief operations officer, or even chief executive officer. Meanwhile, inventory optimization and production scheduling are more of a black box.

Supply Chain Planning Software 196

Supply Chain Planning Software Modeling Scenario Planning Supply Chain Planning 196

The Logistics & Supply Chain Management Society

NOVEMBER 22, 2022

Sales, Inventory, Operations Plan (SIOP) is a process within many successful supply chain organizations that recognizes the integral relationship between all departments in the company, but how do you piece together an SIOP process? SIOP stands for “Sales, Inventory, Operations Plan”, not to be confused with “S&OP”.

Supply and Demand 246

Supply and Demand Inventory Reduction Supply Chain Planning Software Supply Chain Planning 246

EazyStock

JANUARY 4, 2021

Inventory management is crucial to ensuring businesses have agile and efficient supply chain operations. However, having control over every inventory item often ends up being a time-consuming and frustrating endeavor for most inventory teams, as they rarely have the right tools in place to get the job done well.

Inventory Management Software 52

Inventory Management Software Inventory Management Inventory Reduction Inventory 52

DELMIA Quintiq

DECEMBER 21, 2020

Dashboard with scenario comparison and KPIs for decision making in S&OP. This results in few viable alternatives for decision making at planning meetings and a departmental view. At the same time, the analysis can take a long time due to the disaggregation of information in different spreadsheets or systems. See figure 2.

Supply Chain Planning Software 296

Supply Chain Planning Software Scenario Planning Modeling Supply Chain Planning 296

Kinaxis

JUNE 22, 2015

by Andrew Dunbar Over the last several weeks, this blog series on Inventory Management has explored the objectives and roles of inventory managers and outlined several of the improvement levers available to them. So, what do you need to measure to manage your inventory ? I recommend the inventory quality ratio for this one.

Metrics 100

Metrics Inventory Reduction Inventory Inventory Management Software 100

Logility

AUGUST 5, 2021

You can align high-level business planning with detailed product forecasting to boost service levels, shorten cycle times, reduce inventory investment, and minimize obsolescence. By optimizing resources, you can minimize total supply costs while meeting consumer demand requirements. Improved customer satisfaction.

S&OP 130

S&OP Supply and Demand Beverage Optimal Sourcing 130

Logistics Viewpoints

DECEMBER 15, 2022

ABC Analysis for Inventory Planning : Clustering products that behave similarly highlights issues, challenges, and opportunities for serving customers better. Comparison of these profiles then gives us store clusters with similar demand, and based on these insights, assortment plans can be developed to address the difference.

Optimal Sourcing 193

Optimal Sourcing Analysis Procurement Analytics Purchasing Skills 193

Supply Chain Shaman

JUNE 1, 2022

I work with a group that has a sub-team focused on cost, one on customer service, and one on inventory, but lack alignment on a standard definition of supply chain excellence. On average, industries carry 38 more days of inventory than in 2007. The problem is that most of it is the wrong inventory due to planning fallacies.

Supply Chain Planning Software 195

Supply Chain Planning Software Supply Chain Planning Optimal Sourcing Scenario Planning 195

ToolsGroup

AUGUST 1, 2022

Returns come with plenty of challenges around logistics, inventory, and predicting volatile sales trends. Reports indicate that returns are higher when products are sold online, with an average return rate of 30% for ecommerce purchases, in comparison with 10% for brick-and-mortar sales.

Retail 296

Retail Optimal Sourcing Purchasing Skills Procurement Solutions 296

SYSPRO Smarter ERP

JUNE 19, 2023

However, for companies with extensive inventory and warehouse facilities, integrating a Warehouse Management System with their ERP system can bring additional value. A Warehouse Management System (WMS) plays a vital role in efficiently managing inventory within a warehouse. What is a Warehouse Management System?

Inventory Reduction 98

Inventory Reduction Resource Reduction Cost Reduction Strategies Inventory Management Software 98

ThroughPut

JUNE 8, 2021

SKU Optimization: Work Smart, Not Hard To Optimize Inventory. Are you still spending hours on hours sorting through your inventory list and still getting nowhere? And more than that, it’s time to rethink your inventory strategy for the better. First things first: Understanding inventory . Try inventory optimization!

Inventory Reduction 52

Inventory Reduction Price Mitigation Strategies Optimization Software Vendor Strategies 52

Supply Chain Shaman

DECEMBER 28, 2020

Only four percent of companies compared to their peer groups improved balance sheet performance of growth, operating margin, and inventory turns. When compared to pre-recession years, we ended the decade with twenty more days of inventory. Days of Inventory Comparison. Now, let’s take consumer products. The So What?

Supply Chain Planning Software 411

Supply Chain Planning Software Forecasting Forecasting Software Modeling 411

Supply Chain Shaman

OCTOBER 5, 2018

The award, based on beating the industry peer group on rate of improvement on the key metrics of growth, operating margin, inventory turns, and Return on Invested Capital (ROIC) while outperforming their peer group, is tough to achieve. Orbit Chart for L’Oréal at the Intersection of Inventory Turns and Operating Margin.

Case Study 254

Case Study Inventory Reduction Agile and Lean Supply Chain Study 254

Logistics Viewpoints

AUGUST 12, 2022

I read earlier this week that pressure on the supply of critical materials will continue to mount as road transport electrification expands to meet net-zero ambitions. In a recent report, IEA indicated that global battery and mineral supply chains need to expand ten-fold to meet projected critical minerals needs by 2030.

Logistics Network Optimization Software 227

Logistics Network Optimization Software Modeling Logistics San Antonio 227

Logility

JULY 7, 2021

If you cannot provide customers with real-time insights into your product inventory, there is a risk that you’ll accept an order you cannot fulfill. Subpar inventory management. Your ERP system must account for ongoing inventory changes. Or, if you have too much inventory on hand, your storage costs can rise.

Supply Chain Planning Software 130

Supply Chain Planning Software Supply Chain Design Software Optimal Sourcing Optimization Software 130

CH Robinson Transportfolio

JUNE 26, 2019

Because consumers use technology to do on-the-spot price comparisons, they can order from any company in the world that has their desired product. Reducing or eliminating inventory carrying costs, along with out of stocks using detailed analysis tactics had been the goal for many. And bringing air freight services into the spotlight.

Supply and Demand 35

Supply and Demand Expense Reduction Price Reduction Inventory Reduction 35

ToolsGroup

FEBRUARY 28, 2023

So we’re excited to be delivering significant enhancements to our solution and expanding our already formidable and innovative forecasting , inventory optimization , and replenishment capabilities that help our customers deliver on promises to their customers, while reducing inventory (and their carbon footprints) and boosting profitability.

Supply and Demand 156

Supply and Demand Supply Chain Planning Software Modeling Demand Planning Software 156

Supply Chain Shaman

JULY 19, 2015

Self-reporting of data does not meet this standard. However, for elements like forecast error, customer service and slow-moving inventory self-reported data is not sufficient. While every company will agree that this data is VERY important, the lack of standard definition precludes comparison. We then worked on the analysis.

Benchmarking 150

Benchmarking Supply Chain Planning Software Supply Chain Planning Scenario Planning 150

CH Robinson Transportfolio

JUNE 26, 2019

Because consumers use technology to do on-the-spot price comparisons, they can order from any company in the world that has their desired product. Reducing or eliminating inventory carrying costs, along with out of stocks using detailed analysis tactics had been the goal for many. And bringing air freight services into the spotlight.

Supply and Demand 34

Supply and Demand Expense Reduction Price Reduction Inventory Reduction 34

ThroughPut

FEBRUARY 23, 2024

A report by McKinsey shows that early adopters of AI in the supply chain have improved their inventory levels by 35%, reduced logistics costs by 15%, and enhanced service levels by 65%, vis-a-vis competitors who were slow to embrace AI. Inventory pile-ups. And the effect of inaccurate demand forecasting is felt across the supply chain.

Predictive Analytics Software 59

Predictive Analytics Software Supply Chain Planning Software Optimal Sourcing Predictive Analytics 59

Logility

NOVEMBER 18, 2021

Let’s look at a comparison of functions between ERP and SCM: 1. This provides the visibility you need to ensure that everyone in the global supply chain is meeting their commitments. It’s the only way to ensure you’re meeting global standards of corporate responsibility. Economic sustainability . Environmental sustainability.

Supply Chain Planning Software 130

Supply Chain Planning Software Supply Chain Software Analytics Software Predictive Analytics Software 130

Logility

APRIL 2, 2020

However, if lead times tend to be very short for some suppliers and longer for others, an average will generate an irrelevant basis of comparison. But it’s important to carefully craft that scorecard to meet a few critical needs. Check out this white paper, Leveraging Inventory for Profitable Growth.

Negotiating Skills 157

Negotiating Skills Supply Chain Planning Software Supply Chain Design Software Purchasing Skills 157

C3 Solutions

JULY 22, 2020

But it was really the development of innovative material handling systems in the mid-20th century that prompted the need for ways to keep track of more densely stored goods and higher levels of inventory. With the concurrent innovation in computing technology, inventory tracking systems were created that could generate automated reports.

Supply Chain Design Software 131

Supply Chain Design Software Supply Chain Planning Software Supply Chain Software Retail 131

GlobalTranz

SEPTEMBER 26, 2018

Customers’ Expectations Are Increasing The value of today’s consumers is measured in how well companies can meet customers’ needs and offer something their competitors do not. According to Freight-Specialist.com , these forces include: E-commerce demands higher inventory variety.

Shipping 168

Shipping Cost Reduction Strategies Expense Reduction Resource Reduction 168

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

OptiProERP

MAY 18, 2023

Procurement is a complex process that requires careful planning and execution to ensure that the goods or services acquired meet the company’s needs and requirements. Clear and detailed specifications will help suppliers to understand what is required and how to meet the requirements. What Are the Types of Procurement?

Optimal Sourcing 52

Optimal Sourcing Manufacturing Procurement Negotiate Pricing Procurement Solutions 52

Logility

MAY 3, 2018

These inventory challenges and others require all life science industry manufacturers to optimize the type of inventory (raw, WIP, finished), how much of each and where it is stored to provide a high level of patient care. Additional Reading: Aberdeen: Industry Comparison For Best-In-Class S&OP/IBP Capabilities.

Pharmaceutical 102

Pharmaceutical Modeling Supply Chain Planning Software Supply and Demand 102

Unleashed

OCTOBER 31, 2023

In comparison, workforce management looks to enhance the day-to-day productivity of your entire organisation. In comparison, workforce optimisation works by considering the talent you already have – their current knowledge or skill gaps – and looking for ways to optimise their input. But those aren’t the only aims.

Waste Reduction 52

Waste Reduction Inventory Reduction Resource Reduction Cost Reduction Strategies 52

EMERGE App

OCTOBER 25, 2018

Inventory costing or valuation is an accounting concept that has a direct impact on your gross profit and thus taxable income. Methods of valuing inventory are simply different cost-flow assumptions about how to allocate your cost of goods available for sale. We’ll start by explaining why inventory costing is important.

Purchasing Skills 58

Purchasing Skills Inventory Procurement Solutions Procurement Analytics 58

Precoro

SEPTEMBER 4, 2023

By learning how to calculate it and change it to their advantage, companies can accelerate cash inflow and free up money that would otherwise be tied up in inventory. The cash conversion cycle is represented as a period of time that indicates how long it takes a business to turn its investments in inventory into money from customers.

Optimal Sourcing 59

Optimal Sourcing Negotiate Pricing Inventory Reduction Material Savings 59

Supply Chain Shaman

OCTOBER 8, 2019

Granular data by volume is a must to be able to manage replenishment, network design, and inventory targets. Financial forecasts tend to have a negative bias (forecasts less than market potential) to ensure that employees have a better probability of meeting their bonuses. Most budgets are completed in currency at a brand level.

Supply Chain Design Software 183

Supply Chain Design Software Inventory Reduction Supply Chain Planning Software Forecasting 183

Supply Chain Shaman

JUNE 26, 2017

They do not have a peer group for comparison. We do not include them in the analysis because there is no peer group comparison. When I started this research in 2010, I believed that P&G and Wal-Mart would meet this criteria. This year-over-year comparison, enables visualization of performance on two metrics.

Sourcing Strategies 152

Sourcing Strategies Agile and Lean Supply Chain Inventory Reduction Supply Chain Strategy 152

Supply Chain Shaman

OCTOBER 29, 2014

The meeting is on everyone’s calendar. There is an abundance of pastries flowing from the basket, and the stage is set for an impactful meeting. Even though things seem to be going well (all of the meeting details are well-executed and the speaker is giving an energized presentation), the room is eerily quiet.

Supply Chain Planning Software 309

Supply Chain Planning Software Modeling Demand Planning Software Optimization Software 309

SCMDOJO

JUNE 21, 2023

This partnership improves inventory management, particularly for medicines with limited shelf life, utilizing dedicated storage facilities. Supply chain planning and demand management are pivotal in meeting customer demands, especially in unpredictable markets. In a study conducted by Nicholson et al.

Supply Chain Planning Software 89

Supply Chain Planning Software Supply Chain Design Software Logistics Network Optimization Software Optimal Sourcing 89

Logility

MAY 22, 2018

DDMRP tries to mask this fact by using multiple zones of inventory. Most of the boasts of DDMRP value are in comparison to the value of MRP. DDMRP can reduce finished goods lead-times and inventory if your product lead-times can be reduced to meet customer replenishment lead-times. So “Where’s the Beef?”

Optimal Sourcing 101

Optimal Sourcing Manufacturing Procurement Supply Chain Planning Software Forecasting 101

GlobalTranz

DECEMBER 8, 2017

The order fill rate is another major supply chain KPI, and it includes the following three KPIs to identify failures or successes within order fulfillment: Calculate the total order fill rate by dividing the total number of orders shipped on the first try by the total orders that should have been able to ship based on inventory on hand.

Supply Chain Design Software 170

Supply Chain Design Software Supply Chain Software KPI Supply Chain Design 170