Precoro

SEPTEMBER 6, 2021

This month, we continue our Procurement Basics series and would like to introduce our readers to yet another set of often misused business terminology. As both sourcing and procurement are related to obtaining supplies for the organization, confusing these two terms is easy. Procurement. What Is Procurement Process?

Optimal Sourcing 97

Optimal Sourcing Manufacturing Procurement Purchasing Skills Procurement Solutions 97

ToolsGroup

AUGUST 1, 2022

Retail returns occur when a customer returns the purchased items to a seller in exchange for a refund, store credit, or a similar product. Returns come with plenty of challenges around logistics, inventory, and predicting volatile sales trends. 84% of buyers read the return policy before making an online purchase.

Retail 296

Retail Optimal Sourcing Purchasing Skills Procurement Solutions 296

Supply Chain Shaman

AUGUST 12, 2020

Heavily booked and running from meeting to meeting, I was late. The topic of the meeting was the logistics to launch of the AMR Research Top 25. The topic of the meeting was the logistics to launch of the AMR Research Top 25. As I squeezed into the middle seat of a crowded conference room, I got the stare. The reason?

Gartner 243

Gartner Supply Chain Software Procurement Analytics Manufacturing Procurement 243

Precoro

DECEMBER 11, 2023

As part of the larger procurement process, sourcing involves finding and evaluating suppliers for goods or services that need to be purchased. Goals beyond the best purchasing price fall into strategic sourcing. In many cases, new companies start with simple sourcing to get the procurement process rolling.

Negotiating Skills 105

Negotiating Skills Purchasing Skills Optimal Sourcing Sourcing Strategies 105

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

Logility

APRIL 2, 2020

Supplier scorecards are globally accepted as a key tool for managing a more profitable supply chain. A good scorecard helps identify which vendors deliver the best value, explains the drivers of performance, and is a preferred collaboration tool for improving supplier relationships. Consider using software to automate data integration.

Negotiating Skills 157

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

SCMDOJO

JUNE 21, 2023

SCaaS is a technology-driven approach to managing supply chains, offering comprehensive end-to-end solutions for businesses. SCaaS offers a solution by enabling hospitals to engage in strategic procurement, ensuring standardized operations throughout the contract duration. Let’s delve into this emerging concept.

Supply Chain Planning Software 89

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

Unleashed

DECEMBER 15, 2021

Days Sales of Inventory (DSI) is a key measure to help you understand how efficient your inventory management is. Learn more: Inventory Accounting – A Free Video Guide for Accountants & Advisors What is Days Sales of Inventory (DSI)? It’s also known as Days Sales in Inventory and Average Age of Inventory.

Procurement Analytics 98

Procurement Analytics Inventory Reduction Metrics Inventory 98

Logistics Viewpoints

DECEMBER 15, 2022

ABC Analysis for Inventory Planning : Clustering products that behave similarly highlights issues, challenges, and opportunities for serving customers better. ABC analysis creates product segments by grouping products with similar sales volume or purchase frequency to enable category managers to focus on what matters most. and Europe.

Optimal Sourcing 193

Optimal Sourcing Analysis Procurement Analytics Purchasing Skills 193

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

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. Looking to reduce inventory costs?

Inventory Reduction 98

Inventory Reduction Price Mitigation Strategies Optimization Software Vendor Strategies 98

ToolsGroup

FEBRUARY 7, 2022

Love it or hate it, daily necessities need to be purchased. eCommerce Purchases and “The New Normal” Retail Categories. And based on Placer Lab’s data , the investment looks promising, with monthly 2021 monthly in-store visits up across the board in comparison to 2019: Image source: Placer.ai. Data source: eMarketer.

Supply Chain Planning Software 177

Supply Chain Planning Software Trends Retail Forecasting Software 177

Enterra Insights

APRIL 13, 2023

Plus, Americans’ spending spree during the earlier years of the pandemic, fueled by stimulus money, boredom and socked-away savings, have made for tough comparisons.”[2] Intelligent demand management software is the key technology enabler of lean retail merchandise management.”

Retail 130

Retail Price Reduction Supply Chain Planning Software ToolsGroup 130

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

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. The solution? Unsold products on store shelves.

Predictive Analytics Software 59

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

Supply Chain Shaman

JUNE 14, 2018

In this series of posts, I am going to make an argument to augment ERP planning with new cloud-based solutions to improve decision-making. While many business leaders believe that Enterprise Resource Planning (ERP) and Advanced Planning Solutions (APS) will be equal to this task, it is not sufficient. Why ERP Is Not Sufficient.

Optimal Sourcing 173

Optimal Sourcing Manufacturing Procurement Supply Chain Planning Software Agile and Lean Supply Chain 173

Unleashed

MAY 4, 2022

Read more on inventory management for multichannel eCommerce selling The 15 most important benefits of eCommerce to business. Purchases can be made while on the move, on impulse and in response to a particular need at that time. It has numerous benefits, for both consumers and businesses.

Inventory Management Software 97

Inventory Management Software Supply Chain Planning Software Supply Chain Design Software Demand Planning Software 97

Taulia

MARCH 2, 2023

It covers the full range of supply chain processes, from procuring raw materials to delivering the finished products to customers. A strategic approach to supply chain operations seeks to align the supply chain components to meet specific, predetermined business goals. Their supply chain is organic and somewhat antiquated.

Negotiating Skills 52

Negotiating Skills Supply Chain Planning Software Supply Chain Design Software Supply Chain Software 52

GlobalTranz

SEPTEMBER 26, 2018

Those that seek to succeed in shipping online need to know a few things about why less-than-truckload may be the solution, how customers’ expectations are increasing, and what benefits less-than-truckload offers. Looking for E-Commerce Solutions for LTL, Parcel, & FT for Your Shopping Cart? Get E-Commerce solutions.

Shipping 168

Shipping Cost Reduction Strategies Expense Reduction Resource Reduction 168

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 320

Supply Chain Planning Software Modeling Demand Planning Software Optimization Software 320

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

Precoro

JUNE 6, 2022

For example, software vendors often sell software and support services to the end-user on behalf of large IT corporations. Vendors typically provide items ready to go for sale and can be inventoried. Suppliers are your go-to for finding raw materials if you are procuring supplies for production. Product quantity.

Manufacturing Procurement 98

Manufacturing Procurement Purchasing Skills How To Procurement Solutions 98

QAD

JUNE 16, 2021

Managing the shop floor, inventory, operations and scheduling are some of the keys to ensuring a manufacturing business runs smoothly. As manufacturing and supply chains scale to meet larger global needs, real-time data and software systems allow manufacturers to automate processes and make smart data-driven decisions.

Supply Chain Planning Software 52

Supply Chain Planning Software Supply Chain Design Software Optimization Software Forecasting Software 52

GlobalTranz

APRIL 25, 2016

Inventory measurement is critical and it is money after all in that it took a capital expense to procure. The goal is to keep inventory levels at a minimum to meet customer needs. Review Inventory turns and Return on Assets. Other areas to consider measuring as it relates to transportation: Managing inventory.

Procurement Analytics 120

Procurement Analytics Supply Chain Performance Metrics Supply Chain Software 120

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

Locus

OCTOBER 5, 2021

Today, businesses are at the cusp of new changes in the supply chain that includes evolving customer expectations, omnichannel purchasing, and the shipping of unpredictable volumes. Businesses prefer a fixed logistics model when they don’t have immediate requirements to meet dynamic market demand.

Modeling 52

Modeling Modeling Software Optimization Modeling Logistics Network Optimization Software 52

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 190

Supply Chain Design Software Inventory Reduction Supply Chain Planning Software Forecasting 190

ShipBob

JULY 30, 2021

Imagine this scenario: A customer browses sunglasses on your online store but leaves without making a purchase. L ater, while they’re browsing through their Instagram feed, they notice an ad displaying a previously viewed product and a 20% discount off their first purchase. They click on the ad, which leads to a purchase.

Omnichannel 52

Omnichannel Inventory Management Software Forecasting Software Optimization Software 52

OptiProERP

JUNE 4, 2021

Leveraging an ERP solution provides manufacturing companies more flexibility and deeper control over business processes with advanced supply chain management capabilities to navigate these challenges and increase efficiency, productivity, and profitability. ROI analysis is also a prerequisite for authorizing and funding ERP solutions.

Manufacturing Procurement 52

Manufacturing Procurement Supply Chain Planning Software Modeling Software Analytics Software 52

Ware2Go

APRIL 18, 2022

The Amazon distribution network may not always meet the needs of third-party sellers. Amazon has virtually created consumer demand for 1- to 2-day shipping, and they’ve learned the most cost effective and efficient way to deliver: inventory distribution. By comparison, Walmart has over 5,000 retail stores.

Network Optimization 59

Network Optimization Distribution Supply Chain Network Software Inventory Reduction 59

QAD

MAY 19, 2021

While spreadsheets and manually tracked processes can help organize internal processes in the early days of any business, manufacturers and suppliers often turn to enterprise software like ERP or CRM to help scale their business. ERP software simplifies and automates common business activities. But when do you need ERP and CRM?

Supply Chain Planning Software 52

Supply Chain Planning Software Supply Chain Design Software Optimization Software Inventory Management Software 52

Logility

OCTOBER 6, 2023

Integrations include cloud ERP systems, data warehouse solutions, or big data systems – such as Microsoft Azure Synapse and Snowflake – or can be driven by events or web services that make the platform more responsive. What do these drivers and advantages mean for my business?

Supply Chain Planning Software 193

Supply Chain Planning Software Modeling Software Supply Chain Network Software Optimization Software 193

Precoro

JANUARY 15, 2024

Every procurement professional faces a time when they have to make a purchase in unfamiliar territory. Typically, it starts when an employee creates a purchase requisition to notify the department manager of the need for new goods or services. That’s when RFQs and RFPs come into play. What is an RFP?

Purchasing Skills 59

Purchasing Skills Procurement Solutions Manufacturing Procurement Vendor Strategies 59

Locus

MARCH 28, 2022

Retailers focus on meeting the expectations of consumers who are more drawn to quick service and convenience. The brand provides buyers with a hi-tech omnichannel experience through its in-store implication of RFID, which also creates a smooth purchasing experience. Similar to RFID, stores also embed QR codes for quick payments.

Retail 52

Retail Cost Reduction Strategies Price Reduction Inventory Reduction 52

BlueYonder

JUNE 7, 2016

Retail stores are feeling the pain of an evolving marketplace, where consumers have multiple paths to purchase and stores have become fulfillment nodes in the retail supply chain. One of the many challenges this presents is a dramatic shift from linear inventory flows to more complex multi-point flows between DCs, stores and customers. .

Logistics Network Optimization Software 40

Logistics Network Optimization Software Logistics Supply Chain Planning Software Purchasing Skills 40

BlueYonder

JUNE 7, 2016

Retail stores are feeling the pain of an evolving marketplace, where consumers have multiple paths to purchase and stores have become fulfillment nodes in the retail supply chain. One of the many challenges this presents is a dramatic shift from linear inventory flows to more complex multi-point flows between DCs, stores and customers. .

Logistics Network Optimization Software 40

Logistics Network Optimization Software Logistics Supply Chain Planning Software Purchasing Skills 40

Supply Chain Matters

OCTOBER 20, 2023

They further added to growing concerns that consumers have moderated on their desires to purchase an all-electric vehicle. The industry’s news cycle has pointed to increasing inventories of unsold EV ’s at dealer lots. As a comparison, the EV automaker’s automotive gross margin, excluding regulatory credits reached a peak of 25.1

Price Reduction 52

Price Reduction Cost Reduction Strategies Inventory Reduction Purchasing Skills 52