6 Easy Ways to Cut Supply Chain Costs

Logistics Bureau

Every cost reduction must, however, be evaluated in terms of local and overall impact. An 8-point Guide to Understanding Your Cost to Serve. Cost To Serve – A Smarter Way to Improved Supply Chain Profitability.

16 Cost Reduction Strategies in Inventory Management

Unleashed

So your company is looking to reduce costs, and you’ve been asked to contribute by reducing your inventory cost. Here we explain how you can do this with 16 cost reduction strategies in inventory management?that

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5 Inventory Reduction Strategies to Drive Cost Savings

EazyStock

In some circumstances carrying excess stock can be a good thing: having all items in stock helps avoid costly back orders and keeps customers happy. However, holding too much can have a number of negative implications, such as high carrying costs , over-investment in stock and poor cash flow.

The 15 Best Ways to Reduce Inventory and Cut Costs

Unleashed

One major aspect of running a lean business is reducing inventory – that is, a reduction in the amount of inventory your organisation keeps on hand at a given time. In this article we outline the 15 best methods you can use to reduce inventory: Why do businesses reduce inventory?

Common Use Cases for Mathematical Optimization

What is mathematical optimization and what are some of the most common use cases for across industries? How can this type of prescriptive analytics be applied to lower costs, reduce carbon emissions, and build more resilient supply chains? Find out in this guide.

3 Simple Ways to Save Logistics Costs

Logistics Bureau

Find out here: Related articles on this topic have appeared throughout our website, check them out: Omnichannel Retail and the Cost to Serve Online Customers. An 8-point Guide to Understanding Your Cost to Serve. These might seem obvious.

4 Tips To Cut Costs In A Warehouse

GlobalTranz

But, with a well-planned strategy, you too can reduce expenses in your workplace. Still, some losses are a predictable expense and you can’t entirely eliminate them. Reduce Labor Costs Most of your operating budget will go towards labor. Either you reduce pay or find a way to increase work efficiency. There are other ways to keep labor costs down. Hiring people and training them costs you time and money.

7 Strategies to Improve Your Supply Chain!

Supply Chain Game Changer

Strategies to improve your Supply Chain article and permission to publish here provided by Claire Glassman. The supply chain is a significant part of your overall business strategy and inventory management. This way, your supply chain will be as cost-effective and lean as possible.

Reducing the Impact of High Fuel Costs Goes Beyond the Transportation Department

Logistics Viewpoints

The rise in fuel costs, especially diesel, is significantly impacting the bottom line of many B2B companies such as distributors and wholesalers. Instead, transportation and logistics organizations need to make fuel cost mitigation a company-wide effort.

7 Mini Case Studies: Successful Supply Chain Cost Reduction and Management

Logistics Bureau

If you were to tell me that your company had never looked at its supply chain costs and sought to deliver reductions, I would be mightily surprised. On the other hand, if you told me your company hasn’t been able to sustain any progress in supply chain cost reduction, I wouldn’t be surprised at all. This operation was proving too costly and too slow, so the company launched an initiative to achieve a 10% supply chain cost reduction within four years.

Implementing Supply Chain Network Design

Companies want to maximize service levels, but they also want to cut costs. These goals are often at odds with one another. How do you find the optimum balance? This guide offers hands-on advice that will help you use network design to achieve successful results.

A Cost To Serve Case Study

Logistics Bureau

Why is it really important to understand the cost to serve on your supply chain business? Here is a case study we would like to share for you to explore the concept of cost to serve in greater depth. Omnichannel Retail and the Cost to Serve Online Customers.

Building Blocks of Supply Chain Strategy!

Supply Chain Game Changer

The Importance of a Strong Supply Chain and Logistics Strategy! For a supply chain to run smoothly it needs to be well managed under the right strategy for your business objectives. Supplier consolidation is a major player in supply chain strategy. Subscribe Here! Email Address.

WMS Labor Cost Reductions: How to Reduce Costs Despite Peak Season

Veridian Solutions

Fortunately, WMS labor cost reductions can help alleviate these concerns, and supply chain leaders need to know why. The use of a WMS enables organizations to manage better picking through shipping, as well as replenishment strategies. Since supply chain management begins with procurement, your WMS labor cost reductions must start there. As a result, labor costs decrease. How to Maximize WMS Labor Cost Reductions.

Vendor Managed Inventory Model for Supply Chain Cost Reductions

GlobalTranz

As a supply chain director, manager, or boss of a multinational corporation, where the supply chain is an integral part of your business, supply chain cost reductions are always at the forefront of your team’s mind. You can employ countless number of supply chain service providers who will help realized these cost reductions throughout the entire supply chain. Vendor Managed Inventory Model for Supply Chain Cost Reductions. Get a detail of costs.

New Buyer's Guide for Supply Chain Network Design

Many companies are looking to redesign their supply chain network to lower costs, improve service levels and reduce risks in the new year. Check out our updated Buyer's Guide for Supply Chain Network Design Software with research insights and learnings!

Reduce Costs: Invest In Talent

Supply Chain Shaman

In manufacturing-based companies, 70-80% of costs are in the processes of source, make and deliver. Is talent a cost or an asset? Most companies say that employees are an asset, but treat it as a cost. Today, with companies having a keen-focus on costs, talent development often takes a back seat. What made a difference in outperforming the competition in costs? Most companies have an endless cycle of cost cutting.

Peloton’s Supply Chain Strategy Turnabout

Supply Chain Matters

This week, the company announced a reversal in manufacturing and supply chain strategy, as well as a major turnabout. Supply chain strategy, process, talent and enabling technologies each play important roles. Sourcing was both a cost as well as landed cost decision factor.

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

GlobalTranz

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. Today, I will now address how a focus on inventory will allow for warehouse cost reductions as well. A Focus on Inventory Control Begets Warehouse Cost Reductions. How do you achieve warehouse cost reductions?

Logistics Cost Reduction: 6 Focuses to Create More Profit

GlobalTranz

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. According to the CSCMP's "State of Logistics" Report from 2015, logistics costs now make up over 8% of the GDP. Logistics Cost Reduction by Focusing on Safety.

Leverage SAP IBP to Drive Planning Transformation

Today, traditional SAP IBP deployments are not enough. You need to assure you are leveraging its maximum potential to truly transform planning. And to reduce costs, improve visibility and insight, and advance digitalization to gain competitive advantage.

Eliminate Supply Chain Risks & Drive Customer Retention With Intelligent Buffer Management

ThroughPut

However, most of the variability generated by these factors can be eliminated by addressing supply, management, and demand at regular intervals, through focused solutions. To ensure reduced variability, it is important to optimize supply chain management for enhanced visibility.

Transportation Network Modeling: A Powerful Tool in Greenhouse Gas Emissions Reduction Strategy

Talking Logistics

The USA says it intends to reduce emissions by 26-28 percent below its 2005 level by 2025 , trying hard for the upper limit. Outside of the Paris Agreement, the European Union (EU) has a goal of reducing greenhouse gas emissions from transport by around 60 percent below 1990 levels by 2050. Cost reductions sometimes go hand-in-hand with GHG reductions, but some measures could increase transport costs.

What is Capacity Planning? Supply Chain Planning’s Feng Shui Strategy for Success

ToolsGroup

The goal of capacity planning is to make the most of your production capabilities, while minimizing costs and maximizing profit. The strategy part is key: If successful, your supply chain is better equipped to ensure you can meet forecasted demand. Reduce stock-outs.

Executing Customer-Centric Supply Chain Strategies

Supply Chain Shaman

About twice a month, companies ask me to review their strategy documents. Frequently, I see the goal of “build a customer-centric strategy” or define an “end-to-end vision to deliver on the customer promise.” It requires a careful execution of strategy and the connection of strategy to execution.” Big wings represent the ideation and creation of the strategy, and the big feet represents the execution. The Customer-Centric Supply Chain Strategy needs both.).

Webinar On-Demand: 3 Ways to Make Your Operational Execution More Robust With S&OE

Speaker: Sander van Lokven and N.S. Krishnan

S&OE provides an early warning system that helps business stakeholders sense and optimize their responses. This keeps the supply chain out of firefighting mode, smoothens relationships with customers and suppliers, and helps sustain margins by reducing the cost to serve.

More Evidence of Supply Chain Cost Inflation Impacting Various Industries

Supply Chain Matters

Supply Chain Matters highlights the latest financial performance from bellwether firms in CPG , online retail, high tech and consumer electronics regarding ongoing supply chain related inflationary cost and supply impacts on performance. Supply chain cost inflation remains prominent.

Transportation Strategies for Continued Success

Logistics Viewpoints

A TMS offers optimization capabilities across multiple modes to improve service levels and reduce freight spend. Below are some transportation strategies for success for suppliers of TMS, TES, and MTS. MTS relationships generate both fixed and variable costs.

Manufacturing Strategies Explained.

ModusLink Corporation

Synergy is a core element present in many successful manufacturing strategies. The synergy effect within a business is the result of mutual interaction between two individual company elements, usually achieved by executing a specific strategy. Manufacturing Strategies in Supply Chain.

Cost Reduction in Supply Chains by Opportunity and by Design

Logistics Bureau

When customers step up pressure on prices and when economic growth flattens or dips, a supply manager’s mind turns to cost reduction. Or rather, it turns even more to cost reduction, as squeezing out savings that then show up directly on the bottom line is a goal that never goes away. Some of the dollars to be recovered may come from immediate actions, such as reducing inventory. Elimination of redundant activities. Inventory costs money.

The “Multi-Multi” Supply Chain Problem That No One is Talking About

Mitigating risk and impact, monitoring and controlling cost, and maintaining operational excellence have become a multi-tier endeavor. Learn how to address the greater "multi-multi" problem to achieve agility, flexibility, and resilience.

5 Cost to Serve Mistakes

Logistics Bureau

Cost to Serve reporting, analysis, and modelling has much to offer organisations of all kinds. Related articles on this topic have appeared throughout our website, check them out: Omnichannel Retail and the Cost to Serve Online Customers.

Cutting Emissions Through Better Transportation Planning

Logistics Viewpoints

A transportation management system (TMS) allows a shipper or carrier to plan the most cost-effective set of shipments that meets service level goals. A TMS can be a great way to save money while lowering costs. Transportation Modeling Can be Used to Reduce Emissions.

Reports Indicate Walmart Cutting Salary Staff

Supply Chain Matters

In this Supply Chain Matters capsule update commentary, we highlight published reports this week indicating that retailer Walmart is initiating added salaried staff reductions.

5 Ways to Reduce Fleet Management Costs!

Supply Chain Game Changer

5 Insights for Managing Your Fleet Strategy! Fleet management costs article and permission to publish here provided by Bryan Christiansen. If an organization finds a way to reduce operational costs, it can lead to savings that apply directly to the bottom line.

10 FAQs on Transportation Management Systems (TMS)

TMS have evolved to include robust functionality around modes, warehouse steps, visibility, cost-to-serve, and much more. Use this FAQ sheet to discover new solution benefits, capabilities, and opportunities available to get the highest ROI on your investment.

3 Ways Supply Chain Companies’ Cost Reduction Plans Go Bad

Logistics Bureau

If you’ve been working with supply chain companies for any length of time, you’ll know how important it is to control operational costs. On occasion though, some supply chain companies’ cost reduction efforts get taken too far, especially when ambitious initiatives are embarked upon, intended to significantly reduce operational costs. Taking lean to the extreme: Lean programs can be a very effective way to take cost out of your supply chain.

Transportation Cost Drains

The Logistics of Logistics

“Transportation expense can cost 5%-10% of gross revenue and will be going up if not managed effectively.” Transportation cost drains drive up costs. Savvy financial managers know transportation cost can cost 5%-10% of gross revenue and will be going up if not managed effectively. Transportation Cost Drain #1 - Fuel Prices. Transportation Cost Drain #2 - Freight Rates. Transportation Cost Drain #3 - Assessorial Charges.

The Supply Chain Carbon Footprint Reduction Strategy

Supply Chain Game Changer

Certainly we should all reduce, reuse and recycle and it applies everywhere! As such we have the direct or indirect ability to take actions which can promote environmental sustainability, reduce carbon footprint impacts, and drive the creation of the Green Supply Chain. Supply Chain Carbon Footprint Reduction. Reduce carbon emissions. Reduce energy usage. Reduce – Reuse – Recycle. Do they have packaging reduction plans? Subscribe Here!

Innovation and the Inflation Reduction Act

Enterra Insights

Passage of the Inflation Reduction Act may spark another half-century of innovation in the field of climate change. CEOs should formulate strategies that create and capture long-term competitive advantage from the transition to net zero and sustainability.”

Enabling Assurance of Supply in the Global Marketplace

Speaker: Adrian Gonzalez, Tom Nightingale, and Martin Verwijmeren

Watch this insightful conversation about enabling assurance of supply in the global marketplace to better balance inventory and control costs.