GlobalTranz

FEBRUARY 16, 2016

This is the first of a two-part series where I will curate and cull information from my 4 decades of experience in logistics cost reduction at various positions in the supply chain. In this first part, I will focus on 6 places that you can apply to your organization to reduce costs and increase profit.

Cost Reduction Strategies 120

Cost Reduction Strategies Inventory Reduction Vendor Strategies Material Savings 120

SCMDOJO

FEBRUARY 29, 2024

It is arguably true that supplier performance management is considered a business practice for measuring, analyzing, and managing supplier performance to reduce cost, and risk and also drive continuous improvement. These three activities can be viewed as aspects of a continuous process. How is it possible?

Vendor Strategies 55

Vendor Strategies Resource Reduction Price Reduction Procurement Analytics 55

GlobalTranz

FEBRUARY 17, 2016

This is the second part of my series on various ways to reduce overall costs as it relates to logistics and warehouse cost reductions. In the first part I put forth 6 areas of focus in order to reduce logistics costs. A Focus on Inventory Control Begets Warehouse Cost Reductions.

Cost Reduction Strategies 120

Cost Reduction Strategies Inventory Reduction Waste Reduction Vendor Strategies 120

Unleashed

JANUARY 31, 2023

The result is high costs and unsatisfied customers. Lean logistics is a strategy designed to optimise supply chain efficiency by cutting out waste and maximising customer value. Product companies implement lean logistics to eliminate downtime in the supply chain and give customers better value.

Agile and Lean Supply Chain 98

Agile and Lean Supply Chain Waste Reduction Inventory Reduction Cost Reduction Strategies 98

Unleashed

JANUARY 14, 2024

It refers to the process of purchasing, storing, and tracking the various goods required to build a product. We’ll look at modern manufacturing inventory methods, useful strategies, and manufacturing inventory management best practices. Inventory management in manufacturing can be influenced by the type of marketing strategy used.

Inventory Management Software 52

Inventory Management Software Manufacturing Procurement Inventory Reduction Inventory Management 52

Unleashed

AUGUST 20, 2023

For customers, it can mean the time it takes to receive an order after they have purchased it. For product sellers, it can refer to how long it takes to receive raw materials or bulk products after placing a purchase order with a supplier. There are many definitions for lead time in supply chain management.

Manufacturing Procurement 52

Manufacturing Procurement Inventory Reduction Sourcing Strategies Procurement Analytics 52

The Logistics & Supply Chain Management Society

NOVEMBER 22, 2022

The core departments included in SIOP are sales, demand planning, supply planning, purchasing, marketing, finance and lastly and most importantly, executive leadership. In SIOP, accountability is a huge part of achieving desired outcomes, improving monthly metrics and satisfying the customer needs.

Supply and Demand 246

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

GlobalTranz

OCTOBER 21, 2015

Editor's Note: As of late you may have noticed we have written a lot about procurement and the future of procurement. A large part of procurement is finalizing the contract and then the follow through of the determined deliverables in that agreement. All KPIS have metrics to measure. Cost Reduction is another major goal.

KPI 120

KPI Negotiating Skills 3PL Optimal Sourcing 120

GlobalTranz

JULY 12, 2016

A Director of Operations, Warehouse Director or Manager, or even the Director of Supply Chain or Logistics, are always in the pursuit of continuous improvement as well as warehouse cost savings in both time and money. Revise your labor scheduling strategy. Implement Vendor Management System (VMI). Use flextime.

Material Savings 120

Material Savings Cost Reduction Strategies Waste Reduction Optimal Sourcing 120

Unleashed

JANUARY 24, 2022

We also give you the 10 best practices to reduce your spend on MRO goods while maintaining a steady flow of the items you need – including the KPIs and software that will assist you. This includes cutting fluid, lubricants, valves, bearings, and such parts, such as those for motors and gears. Learn more: What is Inventory Management?

Inventory Reduction 98

Inventory Reduction Inventory Management Software Procurement Solutions Supply Chain Software 98

EC Sourcing Group

MARCH 12, 2023

If you want to streamline your supplier evaluation process, increase supply chain efficiency, and reduce costs, building an ideal supplier scorecard is crucial. The supplier is a third-party vendor that provides goods, materials, and services to your organization.

Procurement Analytics 52

Procurement Analytics Purchasing Skills Procurement Solutions Supply Chain Planning Software 52

Arena Solutions

OCTOBER 12, 2023

With over 25 years of quality expertise, Christine has worked with many top firms assisting, advising, and setting up their internal auditing strategies. Leveraging internal audits to align quality management with key business metrics When asked what are the benefits of conducting an internal audit? Why do an internal quality audit?

Quality 88

Quality Sourcing Strategies Supply Chain Planning Software Manufacturing Procurement 88

Unleashed

AUGUST 16, 2023

A backorder presents an opportunity for businesses to continue to make sales on products that are temporarily out of stock. Goods available to be purchased on backorder can mean the difference between a lost sale and a satisfied customer. The inability to purchase out-of-stock goods will usually send a customer elsewhere.

Procurement Solutions 52

Procurement Solutions Sourcing Strategies Manufacturing Procurement Inventory Reduction 52

ThroughPut

NOVEMBER 12, 2020

Whether manufacturers rely on ground, rail or sea to reach end-customers, the extent of disruption is unprecedented and this creates a need to rethink their warehouse fleet and carrier strategies. McKinsey suggests that warehouse operations can be critical in presenting an untapped improvement opportunity in the supply chain.

Warehousing 52

Warehousing Expense Reduction Inventory Reduction Supply Chain Design Software 52

Talking Logistics

JUNE 22, 2015

Environmental Protection Agency (EPA) and the Department of Transportation’s National Highway Traffic Safety Administration (NHTSA) jointly proposed standards for medium- and heavy-duty vehicles that would improve fuel efficiency and cut carbon emissions. billion barrels over the lifetime of the vehicles sold under the program.

Vendor Strategies 100

Vendor Strategies Cost Reduction Strategies Price Reduction Procurement Analytics 100

Logistics Bureau

APRIL 4, 2022

At Logistics Bureau, we want to help you with that, so we’re publishing this brief guide to help you if you haven’t already included freight benchmarking in your management strategies or want to benchmark more effectively than you are now. Alternatively, you can procure access to a digital freight benchmarking platform.

Benchmarking 68

Benchmarking Negotiating Skills Logistics Network Optimization Software Purchasing Skills 68

Supply Chain Shaman

JUNE 9, 2016

Today Thoma Bravo, a private equity investment firm, announced a definitive agreement to purchase Elemica, a provider of Supply Chain Operating Networks for the chemical industry. As shown in Figure 2, buyers and suppliers push continuous improvement, and Kaizen events, in supplier development programs over B2B programs.

Supply Chain Network Software 150

Supply Chain Network Software Prescriptive Analytics Software Supply and Demand Modeling 150

Precoro

FEBRUARY 26, 2024

For procurement professionals, systemizing and optimizing cost centers is not just a matter of financial management; it's a strategic task for driving efficiency, controlling costs, and enhancing overall performance. In this article, we delve into the intricacies of cost centers and explore strategies for improvement.

Optimal Sourcing 105

Optimal Sourcing Cost Reduction Strategies Optimization Software Negotiating Skills 105

SCMDOJO

APRIL 26, 2023

Category management is a procurement strategy that involves grouping similar products or services together into categories and managing them as a single unit. This approach can help organizations streamline their procurement processes, negotiate better deals with suppliers, and ultimately save money.

Procurement Solutions 77

Procurement Solutions Manufacturing Procurement Procurement Analytics Optimal Sourcing 77

GlobalTranz

AUGUST 25, 2017

Reports to upper management. They manage the purchasing of inventory and supplies, as well as other materials. They are in charge of selecting vendors and ensuring that clients’ requirements are reliably met. They work on continuous improvement of quality and efficiency of operations under their direct control.

Material Savings 76

Material Savings Inventory Reduction Optimal Sourcing Transportation 76

Supply Chain Shaman

FEBRUARY 25, 2016

Dear Supply Chain Leader, Today, sitting in my seat in 11K on a Cathay Pacific flight between Hong Kong and Boston, I want to report that there is no Easter Bunny. Today I also want to report that, based on over a decade of scientific discovery, traditional supply chain practices are not best practices. There is also no Santa Claus.

Supply and Demand 150

Supply and Demand Prescriptive Analytics Software Supply Chain Design Software Supply Chain Planning Software 150

Precoro

MARCH 30, 2022

Strategic Procurement Helps a Business Unleash its Potential. As The Hackett Group discovered, approaching procurement strategically with specific business goals in mind helps achieve a significantly higher ROI. Operational efficiency and cost reduction are among the top procurement priorities for CPOs, according to Deloitte.

Vendor Strategies 52

Vendor Strategies Sourcing Strategies Cost Reduction Strategies Price Reduction 52

ThroughPut

APRIL 6, 2020

A detailed supply chain planning mechanism can help manufacturers with critical elements for operational success including material management, waste elimination, and working capital optimization. Today, manufacturers are under constant pressure to reduce costs, increase operational efficiencies and enhance revenue margins.

Supply Chain Planning Software 52

Supply Chain Planning Software Forecasting Supply Chain Planning Scenario Planning 52

ThroughPut

APRIL 6, 2020

A detailed supply chain planning mechanism can help manufacturers with critical elements for operational success including material management, waste elimination, and working capital optimization. Today, manufacturers are under constant pressure to reduce costs, increase operational efficiencies and enhance revenue margins.

Supply Chain Planning Software 52

Supply Chain Planning Software Forecasting Supply Chain Planning Scenario Planning 52

Veridian Solutions

MAY 6, 2019

In other words, they need to rethink their management strategies, following these steps: 1. Develop Alternative Fulfillment Strategies. In other words, supply chain leaders need to develop alternative fulfillment strategies, such as BOPIS, to alleviate constraints on the existing warehouse. Hold Vendors and Partners Accountable.

Supply Chain Planning Software 53

Supply Chain Planning Software Vendor Strategies Warehousing Demand Planning Software 53

USC Consulting Group

JUNE 25, 2019

Here, maintenance experts — ideally those intimately familiar with OEM requirements , Plant Engineering reported — design granular equipment management processes, including rotating and reciprocating mechanical component lubrication. This improves efficiency and saves time but costs money.

Cost Reduction Strategies 63

Cost Reduction Strategies Purchasing Skills Supply Chain Design Software Optimization Software 63

Supply Chain Game Changer

FEBRUARY 12, 2019

I launched my second business, a strategic sourcing and procurement consulting firm in 2007. That company grew organically and supported over 100 companies ranging from Fortune 100 companies to fast growing businesses building their first procurement function. In 2018, we were listed as a Gartner’s Cool Vendor.

Procurement Analytics 50

Procurement Analytics Procurement Solutions Analytics Software Supply Chain Software 50

TrackVia

AUGUST 17, 2023

Streamlining these processes to align perfectly with the unique needs of each organization can help an organization to better manage and enhance decision-making processes and reduce operational costs. This visibility allows for better control over asset utilization and reduces the risk of assets being misplaced or underutilized.

Asset Management 98

Asset Management Analytics Software Predictive Analytics Software Optimization Software 98

Unleashed

OCTOBER 5, 2023

Warehouse management systems A warehouse management system (WMS) is a software tool designed to improve the efficiency with which a warehouse is operated. It seeks to streamline warehousing activities while reducing costs and minimising the risk of human error. Safety first: According to a 2019 report by the U.S.

Inventory Reduction 52

Inventory Reduction Waste Reduction Material Savings Resource Reduction 52

Elementum

FEBRUARY 7, 2024

Digital Process Optimization: Streamlining Business for Efficiency In the race to streamline operations and elevate efficiency, Digital Process Optimization (DPO) emerges as a critical strategy for businesses looking to innovate and scale. Advances in technology drive the automation and continuous improvement of business workflows.

Optimal Sourcing 78

Optimal Sourcing Optimization Software Modeling Prescriptive Analytics Software 78

TrackVia

MARCH 30, 2023

As the US Fed reports that the CPI rate of growth is slowing, but still high, it’s clear that we are still experiencing tumultuous economic conditions. With economic downturns come a host of challenges for businesses, including decreased revenue, increased competition, and reduced customer demand.

Cost Reduction Strategies 52

Cost Reduction Strategies Vendor Strategies Optimization Software Demand Planning Software 52

ThroughPut

MAY 22, 2024

An effective ERP manages day-to-day business activities such as accounting, procurement, project management, risk management and compliance, and supply chain operations. This integrated view of core business processes can help companies improve efficiency, cut costs, and respond more nimbly to changing market conditions and customer needs.

Supply Chain Planning Software 97

Supply Chain Planning Software Resource Reduction Optimal Sourcing Resources 97

RFgen

JUNE 29, 2017

This is particularly evident in the warehouse and supply chain segments, where companies that make improvements to underlying capabilities can empower other teams to work more efficiently. For example, a CIO Review report said that companies that want to apply lean principles in the emerging Industry 4.0 Production.

Supply Chain Planning Software 52

Supply Chain Planning Software Supply Chain Design Software Inventory Management Software Agile and Lean Supply Chain 52

RFgen

JUNE 29, 2017

This is particularly evident in the warehouse and supply chain segments, where companies that make improvements to underlying capabilities can empower other teams to work more efficiently. For example, a CIO Review report said that companies that want to apply lean principles in the emerging Industry 4.0 Production.

Supply Chain Planning Software 52

Supply Chain Planning Software Supply Chain Design Software Inventory Management Software Agile and Lean Supply Chain 52

TrackVia

AUGUST 17, 2023

Streamlining these processes to align perfectly with the unique needs of each organization can help an organization to better manage and enhance decision-making processes and reduce operational costs. This visibility allows for better control over asset utilization and reduces the risk of assets being misplaced or underutilized.

Asset Management 52

Asset Management Analytics Software Predictive Analytics Software Optimization Software 52

Unleashed

AUGUST 28, 2022

Specific aspects of managing inventory include procurement, storage, and utilisation tracking. These types of materials refer to components that are essential to the maintenance and continuity of operations. These types of materials refer to components that are essential to the maintenance and continuity of operations.

Inventory Management Software 97

Inventory Management Software Inventory Reduction Inventory Management Demand Planning Software 97

Synovos

APRIL 2, 2024

What is MRO procurement? Understand MRO procurement and your bottom line will benefit. Here we explore why the MRO supply chain is so significant and how better management of the entire MRO purchasing process can drive valuable cost savings and efficiency gains. Why is handling MRO procurement so costly?

Optimal Sourcing 52

Optimal Sourcing Procurement Solutions Manufacturing Procurement Procurement Analytics 52