Metrics that Matter: Customer Service

QAD

Very little has more impact on a company’s success than customer satisfaction. True customer satisfaction is a measure of sales, delivery and after sale performance. For example, if you consistently backorder items or deliver them late, customers will eventually become angry.

Multi-echelon inventory optimization vs inventory optimization

ToolsGroup

Editor’s Note: Last year ToolsGroup became Microsoft’s partner for Multi-echelon Inventory Optimization (MEIO) in Industrial accounts. Microsoft and I collaborated on a blog introducing the basic concept of MEIO, comparing it with Inventory Optimization. Inventory Optimization

Is Inventory Waste or an Asset?

Supply Chain Shaman

We were discussing the results of the planning benchmarking work that we have just finished, and I was sharing some insights on inventory management when one of the panelists emphatically stated, “Inventory is a waste to manage. Inventory is both.

Multi-echelon inventory optimization vs inventory optimization

ToolsGroup

Editor’s Note: Last year ToolsGroup became Microsoft’s partner for Multi-echelon Inventory Optimization (MEIO) in Industrial accounts. Microsoft and I collaborated on a blog introducing the basic concept of MEIO, comparing it with Inventory Optimization. Inventory Optimization

Seven Misconceptions on Managing Inventory in a Market-Driven World

Supply Chain Shaman

When it comes to the management of inventory in value chains, frustration abounds. Executive, after executive, lament, “They have purchased many technologies and sponsored many projects to reduce inventories, but they are not seeing results.”

Maurice Sporting Goods Selects Herlitz Inventory Management’s HIMPACT for Daily Forecasting and Analytics, Resulting in Improved Customer Service Level Performance

Herlitz Inventory Management

Since implementing HIMPACT, Maurice Sporting Goods is fully equipped to improve customer service levels, lower inventory, and increase profits. HIMPACT was selected because it helps improve customer service level performance.

Frock Stocks & FMCG Supply Chain Inventory Decisions

Enchange Supply Chain Consultancy

Customer service FMCG Pharma Inventory Management & Stock Control Supply Chain Analytics

Inventory Management in Service Logistics Industry

Talking Logistics

What is Inventory Management? For Manufacturing it’s about carrying zero or minimum inventory. For Logistics the focus is on high inventory turns. Inventory Management is about having a right balance of expectations from different functions of the supply chain.

Design, Operating and Situational Inventory Trade-Offs

ToolsGroup

Gartner analyst Paul Lord has developed a framework to better understand inventory trade-offs by categorizing those decisions according to the objectives they are meant to achieve: structural, operational and situational. or “How can we reduce inventory and improve our balance sheet?”.

How manufacturers optimize their inventories

ToolsGroup

Editor’s Note: Microsoft’s Colin Masson, Global Industry Director of Manufacturing Solutions (that's him on the left), sat down with me to discuss how manufacturers optimize their inventories. It then uses this model to understand the impact of demand forecasting on inventory.

How manufacturers optimize their inventories

ToolsGroup

Editor’s Note: Microsoft’s Colin Masson, Global Industry Director of Manufacturing Solutions (that's him on the left), sat down with me to discuss how manufacturers optimize their inventories. It then uses this model to understand the impact of demand forecasting on inventory.

ScottsMiracle-Gro Improves Distribution System in Sustainability and Customer Service

Supply Chain Network

to service the Company’s home center retail customers in northeastern U.S. By installing a warehouse in this region, the Company expects to improve its environmental footprint by reducing the number of miles traveled within its distribution network while also reducing costs and improving its customer service levels. The warehouse is part of ScottsMiracle-Gro’s high-service distribution model that the Company began implementing across the U.S. A new 100,000-sq.

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. As we showed in a previous blog, it’s not the only way to segment your inventory, nor nearly the best.

Executing Customer-Centric Supply Chain Strategies

Supply Chain Shaman

Definition: “Customer - centric is an approach to doing business that focuses on providing a positive customer experience both at the point of sale and after the sale in order to drive profit and gain competitive advantage.” What is a Customer-Centric Organization?

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. The equivalent of 7% of America’s GDP is tied up in inventory, and accounts receivable and payable.

Understanding Your Safety Stock Calculations

Demand Solutions

At this point, you may be saying to yourself, "but carrying excess inventory is expensive!" As you know, (and as we've discussed in previous posts) demand forecast accuracy is, arguably, the single biggest factor that impacts the ability to meet customer service targets.

Navigating The End-to-End Journey

Supply Chain Shaman

Companies need shorter product cycles with easy customization. I advocate a portfolio of growth, EBITDA or operating margin, inventory turns, on-time and in-full shipments, and Return on Invested Capital (ROIC). The processes are outside-in focused on creating value for the customer.

Why Safety Stock Is So Important to Your Supply Chain

Demand Solutions

Think about it: If we could somehow forecast with 100% accuracy, we'd be able to carry only the inventory we plan to sell, with maybe a little extra to cover for unexpected mishaps. It increases the chances that you'll meet your customer service levels consistently.

When is Inventory Too “Lean”? Finding the Right Balance

ToolsGroup

But we have also seen companies misinterpret the lean message when it comes to inventory. It's good to trim bloated inventory and free up working capital. But inventory optimization can actually contribute to a lean environment.

Lean 277

The Future of Inventory Management

Kinaxis

by Andrew Dunbar This post concludes my inventory management blog series. Inventory management is not a stand-alone business process that occurs after other processes are complete. How does your inventory manager’s role compare to the one I’ve described here?

This is Not Your Father’s Inventory Optimization

Logility

The first commercially available single-echelon inventory optimization solution was introduced in the 90s and the first commercially available multi-echelon inventory optimization solution was introduced in the early 2000s. Inventory Optimization

Inventory Optimisation for Greater Inventory Control

Unleashed

The biggest challenge of inventory control is getting the balance right, to meet the challenge of matching supply volumes to customer demand and with any good enterprise or activity, it usually pays to start with the basics. Inventory optimisation basics. Unique, short and unmistakable numbers for inventory items. An accurate beginning counts of all inventory stock. Software to track inventory activity in real time. Robust inventory control policies.

SanDisk’s Story of Customer Segmentation Strategies Using Inventory Postponement

Supply Chain Shaman

One of these concepts that I hear a lot; but see few tangible examples, is the idea of “customer-segmented supply chain.” The discussion of customer-segmented supply chains happens often. Most supply chain planning teams do not know their customers.

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.

Inventory Metrics: From Insight to Action

Kinaxis

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 ?

Five Types of Inventory Optimization You Should Know

ToolsGroup

Inventory configuration is usually the predominant issue in most manufacturing environments. Inventory policy is usually the predominant issue in most distribution environments. This risk pooling approach frequently requires less inventory.

Removing the Two Barriers to Optimizing Inventory

Logility

Supply chain leaders often find themselves in a difficult situation when it comes to the conflicting goals of improving customer service and minimizing inventory. The omni-channel world we live in has driven customer service to new heights.

Inventory Management Levers – Success Through Collaboration

Kinaxis

by Andrew Dunbar So you’re an inventory manager, and your CFO just asked you to reduce inventory by 10% before year end to free up some capital for next year’s big investment in R&D. Figure 1: The theoretical on hand inventory level of a single item.

Excess Inventory? No Problem. You Have Trailers In the Yard.­­

Talking Logistics

With the national warehouse vacancy rate hovering at record lows and warehouses bloated with inventory pulled in from China during 2018 to get ahead of impending tariffs, companies can combine flexible storage options with advanced technology to create an end-to-end supply chain solution that works. But even as developers have flooded the market with new inventory, some retailers are still having trouble finding adequate, flexible space. The post Excess Inventory?

Is Poor Inventory Performance Holding You Back?

Kinaxis

by Alexa Cheater Our partner Celestica recently published the following article, ‘ Is your company being held hostage by poor inventory performance? ’ Poor inventory performance can create a significant obstacle to growth and profitability.

Inclusivity of Inventory Management: How any company can increase efficiency, improve customer service, and reduce costs

Synovos

Inventory management and associated tools are not only up and coming but are growing amongst industries far and wide. The knowledge and appreciation surrounding inventory management are correspondingly growing, and almost everyone should pay attention. Inventory management is the surveillance of a company’s spare parts that, if done right, increases efficiency and cuts costs. Typically, companies involved are those with high inventory levels and manufacturing/production rate.

The Two Levers of Inventory Optimization

Logility

Two powerful levers a company can use to optimize inventory are “Working Capital” and “Customer Service Levels.” ” Through the effective use of these levers, you can free trapped working capital while improving service levels.

Writing: Working on My Book

Supply Chain Shaman

. “When I ask my team about customer service, I get high-five reviews. When I meet with my customers, I get thumbs-down feedback. I find the measurement of customer service to be one of the most difficult.” We touched on Customer Satisfaction already.

What is Field Inventory? Tracking and Managing Inventory Outside the Warehouse

DSI

Companies with operations in the field have the unique challenge of managing inventory that is held and used in places outside of the warehouse. This inventory often includes high-value assets, materials and tools, so tracking it is crucial to running an efficient, profitable organization. This is where a mobile field inventory solution comes in. Unlike many warehouse management systems, field inventory is designed to work outside the traditional warehouse.

Global FMCG Supply Chain Transformed by Analytics

Enchange Supply Chain Consultancy

Customer service FMCG KPI Supply Chain Inventory Management & Stock Control Supply Chain AnalyticsThe Challenge A leading global FMCG company undertook an aggressive supply chain improvement programme across 150 markets.