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.

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.

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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.

Talking Logistics: PINC and project44 Partnership Commentary

PINC

project44’s shipment and ETA data in concert with PINC’s Yard Management System‘s real-time asset and load data will accelerate the check-in process and provide customers with actionable dynamic load scheduling visibility. Source: Above the Fold: Supply Chain Logistics News (August 28, 2020).

A Quick Guide to Perfecting Your Ecommerce Customer Service Strategy

ShipBob

They’re all saying the same thing when it comes to ecommerce customer service. Although more and more of us are trading the luxury of in-person sales assistants for the online shopping experience, it doesn’t mean customers still don’t crave, better yet — demand, high-quality customer service. . 52% of consumers say positive customer service interaction(s) moved them to make more purchases.

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. Many companies struggle with decisions such as “How many days of sales or inventory turns per year should we target? or “How can we reduce inventory and improve our balance sheet?”. Structural inventory is a direct result of design choices.

10 Minute Supply Chain & Logistics Strategy

Logistics Bureau

Business Improvement Supply Chain Strategy business objective business performance business strategy customer service policy financial strategy inventory policy measures mission organisation planning process productivity service strategy supply chain supply chain objective supply chain strategy tactics utilisation visionWhy do so few businesses have a supply chain strategy?

Tips for Effectively Managing E-Commerce Logistics

Cerasis

Yet, as few as 33 percent of shippers have taken advantage of a transportation management system (TMS), reports Michael of Levans of Logistics Management. What Are the Challenges in Managing E-Commerce Logistics? E-Commerce LogisticsE-commerce is in the middle of a boom.

Taking a Holistic View on Inventory May Lead to Change in Strategy

Talking Logistics

Inventory optimization has always been a challenge while designing and planning a supply chain. A variety of barriers can impact an effective inventory strategy, such as working in functional silos and demand/supplier volatility¹. The good thing is that companies are beginning to appreciate the importance of inventory form and function instead of narrowing it down to just setting optimal safety stock targets. Asking the Right Inventory Questions.

The 9 Key Considerations of an Effective Last Mile Logistics Strategy

Cerasis

Understanding last mile logistics is only half the battle. Shippers need to reevaluate their existing last mile logistics processes and devise an effective last mile logistics strategy that aligns consumer and business expectation. In fact, an effective last mile logistics strategy must consider these nine key points. Planning Is Essential To Have an Effective Last Mile Logistics Strategy. Logistics

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.” He is responsible for manufacturing, procurement, supply chain planning, logistics, quality, social responsibility and final product engineering. We touched on Customer Satisfaction already.

Logistics Key Process Indicators (KPIs)

The Logistics of Logistics

If you move freight for a living, you know the importance of logistics key process indicators (KPIs). A KPI is an indicator (a metric) that you have chosen, and agreed with your partners and or customers, that will determine whether you are meeting your critical success factors. A metric is any standard of measurement (number of carriers, inventory turns, average shipment weight, etc.). Selecting the Right Logistics KPIs.

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How to Do More With Less in Your Last Mile Service!

Supply Chain Game Changer

Last Mile Service article and permission to publish here provided by Raanan Cohen at bringg.com. When we look at the industry leaders, the forecast for the logistics market is clear. Amazon’s continued success at omnichannel delivery and fulfillment, including one-day delivery for Prime subscribers, has increased the pressure on retailers and shippers to provide faster, lower priced, more convenient last mile service delivery and fulfillment. Subscribe Here! Email Address.

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Do You Understand Your Chief MRO Inventory Challenges?

Logistics Bureau

If your company is in the business of maintenance, repair, and operations, you should already be aware of the strengthening trend in service as a source of value , both in business-to-business and business-to-consumer marketplaces. Given this knowledge then, does your organisation place enough importance on the management of MRO inventory? If yours is one of them, and you’re wondering where and how to start getting a grip on MRO inventory, this post might help.

Speed up your eCommerce Business with Inventory Management Software

Vinculum

Inventory management plays a vital role in building a sustainable, scalable and profitable eCommerce business. No matter how expert you are, how bigger or smaller your business may be, what products you sell, or who do you serve, lack in your inventory management can bring bigger challenges in your business success. Thus, inventory Management Software is really an essential tool for your business to gear itself up. What is Inventory Management System?

Top 15 Logistics Blog Posts of 2014

Cerasis

We continue our top blog posts of 2014 from our main categories today by focusing on something at Cerasis we are experts in : Logistics. If you are familiar with the term logistics, then you undoubtedly know it conjures up a different meaning to different people , different countries, and different companies even. There are countless number of logistics service providers who offer many different types of broad and niche services.

The Most Profitable Hub and Spoke Replenishment Model

Herlitz Inventory Management

Retailers with multiple locations inevitably have to deal with higher inventory costs because they need to hold the same items in multiple locations. By using a solution that optimizes hub and spoke purchasing, buyers don’t have to remember or calculate how much extra inventory they need to buy at different levels of the supply chain. Also, it reduces inventory where high minimum order quantities are involved.

DC 40

Optimising Inventory Control in Multichannel Businesses

Unleashed

For business owners, keeping up with the changing demands of customers can be challenging, especially when these demands require considerable changes to the way your business operates. With better inventory control and optimised management, your multichannel operation can perform at a higher level and meet customer expectations. Integrating inventory control with suppliers. Focusing on customer experience. Ensuring reverse logistics policies.

Logistics KPIs Case Study: Whirlpool’s Supply Chain and Logistics Success Driven by Effective KPI Implementation

Cerasis

We conclude our ongoing series in talking about effective KPI management by giving you a real live Logistics KPIs management case study from Whirlpool's engagement with a logistics service level provider. The Reiterated Importance of Understanding and Managing KPIs in Business and Logistics Management. We hope the following case study shows you the proverbial proof in the pudding of effective Logistics KPIs management. . Taking a Customer-Centric Approach.

Making the Case for FedEx Critical Inventory Logistics

Supply Chain 24/7

By working with FedEx Critical Inventory Logistics, companies can streamline and drive costs out of their aftermarket service supply chains, consistently meet customer service level agreements, and grow their bottom-line revenues

Why the Right Strategy to Managed Inventory Hinges on Clear, Concise Communications

Turvo

A managed inventory depends heavily on teams and leaders that can communicate with each other to avoid operational issues, overstocking, or worse, running out of inventory when the customer is ready to buy.

Defining Your Own Logistics Competitive Weapon

Talking Logistics

For a long time, C-level executives viewed supply chain management, especially the logistics function, as a cost center. You have to think and act beyond cost manage and find ways to leverage supply chain and logistics as a competitive weapon — that is, look for ways to leverage supply chain management to drive top-line growth, increase market share, and enhance customer loyalty. Supply Chain & Logistics Trends Amazon Prime logistics supply chain

6 Benefits of Effective a Reverse Logistics System & The 9 Core RevLog Metrics to Track

Cerasis

While conventional logistics optimizes the flow of goods from producer to consumer, reverse logistics manages the processes for inverting that flow to deal with returned parts, materials and products from the consumer back to the producer. Most often, this includes warranty recovery, value recovery, repair, redistribution, product recalls, used parts and replacement materials for refurbishment, service or product contract returns, and end-of-life recycling.

Inbound Logistics

LeanCor

Planning a Lean Inbound Logistics Strategy. At LeanCor, we refer to our inbound logistics solutions as lean logistics engineering. The lean logistics engineering process incorporates several complex factors including volume fluctuations, sourcing changes, and lead, window, and service times to determine transportation modes, sourcing locations, freight consolidation, trailer loads, route combinations, and freight sequences.

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?

Why Reverse Logistics Systems and Transportation Management Should Be Considered Together

Cerasis

Needs for efficient reverse logistics systems continue to increase as e-commerce claims greater market share, and as so many traditionally functioning businesses grow and inevitably incur increasing volume of returns. This presents opportunities for developing new revenue streams, an exciting challenge to logistics professionals. Need For Reverse Logistics Breeds Opportunity. Efficiently managing reverse logistics is a daunting challenge for many businesses.

Logistics Cost Reduction: 6 Focuses to Create More Profit

Cerasis

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. According to the CSCMP's "State of Logistics" Report from 2015, logistics costs now make up over 8% of the GDP. Any percentage less for your business with logistics costs as a percent of your revenue, goes straight to the bottom line. . Logistics Cost Reduction by Focusing on Safety.

Can Your Inventory Control System Support Seasonal Demand?

LeanCor

How can companies calculate the right inventory quantity and send it to the right place at the right time with such seasonality involved? Don’t be fooled by the scary mask – it is possible through rigorous supply chain planning, a sufficient inbound and outbound logistics network, and a supporting inventory control system. Here are 3 tips to help you develop an inventory control system based on flow to the customer: 1. Where will you keep the inventory?

System 156

Third Party Logistics

LeanCor

5 Things You Should Expect From Your Third Party Logistics Provider. The new role of the third party logistics provider will not just be to transport and store, but rather to serve as a trusted partner in the lean journey by identifying problems, implementing solutions, and adding value in global and complex supply chains. The relationship with the third party logistics provider needs to move from transactional to one of long term partnership and commitment.

The Difference Between Logistics and Supply Chain Management

My Office Apps

The Difference Between Logistics and Supply Chain Management. Most people assume that logistics and Supply Chain Management (SCM) refer to the same process. What is Logistics? It typically involves one organization aiming to ensure customer satisfaction.

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5 Areas of Technology Application to Aid in Logistics Visibility and Communication for en Route Disruptions

Cerasis

We continue our ongoing strategic shipping series by covering how to use technology to provide better logistics visibility. We've already dug deeper into distressed shipments as well as controlling inventory flow for a more efficient warehouse. Keep strategic with us as we talk a bit about technology in order to increase logistics visibility for your shipments, which then aids in customer satisfaction. Online Shipment Tracking and Customer Service Relationships.

Beat the FMCG Competition with an Outstanding Distributor Partnership Programme

Enchange Supply Chain Consultancy

20 Steps to RtM Excellence RtM Strategy Ross Marie Promotions RTM Retail Inventory Management & Stock Control RTM Assessment Tool Distribution Sales Logistics Management Traditional Trade Route to Market FMCG Brewing & Beverages SKU Customer serviceA Distributor Partnership Programme , if designed and implemented correctly, can be one of the most powerful tools in the Route to Market (RtM) armory for delivering sales growth.

Editor’s Pick: The Ideal Inventory Optimization Approach for Omni-channel Retailers

Talking Logistics

Note: Today’s post is part of our “ Editor’s Pick ” series where we highlight recent posts published by our sponsors that provide practical knowledge and advice on timely and important supply chain and logistics topics. In this post, Scott Fenwick, Manhattan Associates ’ senior director of product management, describes how to take inventory optimization in an omni-channel environment to the next level. Delighting customers keeps them engaged.

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Managing a Third Party Logistics Partnership

The Logistics of Logistics

When you have chosen a 3PL partner, insure that you have an effective Service Level Agreement (SLA) with accompanying Key Performance Indicators (KPIs) to manage the Service Level of the 3PL. If you do not want to start at the 3PL as a contact customer with a SLA/KPIs, you can ship your goods and become a public account. As a contract customer, upfront costs will be a subject of discussion and negotiation.

Warehouse Logistics

LeanCor

Logistics is the head of every supply chain. Without logistics, efficiency and productivity would come to a standstill, but even an established warehouse logistics effort can fail to reach its full potential if it is not managed successfully. For this reason, more companies are entrusting the management of their logistics to third parties. If a company’s logistics are not sound, the company will suffer in terms of both its productivity and its bottom line.