Unleashed

APRIL 18, 2023

Great inventory management comes down to good systems, good processes, and constant improvement. The last of these can be achieved by tracking the right inventory metrics, analysing the results, and making data-driven optimisations. So, what are the ‘right’ inventory metrics, and how do you calculate them?

Procurement Analytics 52

Procurement Analytics Metrics Inventory Reduction Inventory 52

SCMDOJO

JUNE 6, 2023

2 – Inventory Optimization Tool in Excel Inventory is a vital component for wholesalers, distributors, and manufacturers, representing valuable assets in the form of the products they sell. Efficiently managing inventory is crucial for maintaining optimal cash flow and meeting customer service expectations.

Supply Chain Planning Software 89

Supply Chain Planning Software Supply Chain Software Optimization Software Material Savings 89

Silvon Software

SEPTEMBER 26, 2023

In this 3-minute post, we examine some key business objectives and cascading KPIs that can be used to analyze performance to the objectives. While many of the KPI examples focus on performance management for manufacturing and distribution businesses, they also apply to numerous other industries with similar operational structures.

Procurement Analytics 94

Procurement Analytics Optimal Sourcing Manufacturing Procurement Inventory Reduction 94

Silvon Software

JUNE 1, 2023

Remember that you can update your KPI selection at any time, so remain open to replacing ineffective metrics. The most important aspect to remember is that KPIs should align with your business strategy. To integrate the data for reporting and analysis, consider the use of a data hub so everyone’s working with the same numbers.

S&OP 93

S&OP Supply and Demand Optimal Sourcing Supply Chain Planning Software 93

Logistics Bureau

OCTOBER 9, 2017

What is a KPI? What is a KPI? Can you explain what a KPI is? Take the notion of a KPI or key performance indicator, for example. You’ll hear a lot in different organisations about KPIs, but that doesn’t mean they are always used effectively. As the name indicates, KPIs concern “key” areas of the business.

KPI 40

KPI Supply Chain Planning Supply Chain Metrics 40

Taulia

NOVEMBER 28, 2021

Inventory management is a core procedure in most businesses’ daily operations, ensuring that goods and materials are where they ought to be when they’re needed. But to get the most out of your inventory management process, you need to intelligently monitor performance. Average inventory. Inventory accuracy.

Inventory Management Software 52

Inventory Management Software Inventory Management Inventory Reduction Inventory 52

ThroughPut

OCTOBER 16, 2022

Inventory Optimization to Unlock Supply Chain Efficiencies with Cost Reduction. A recent survey shows that 40% of the supply chain industry is already optimizing its inventory and networking tools by adopting advanced technologies and this percentage is said to grow in the next five years. INVENTORY STRATEGY. DEMAND FORECASTING.

Optimal Sourcing 52

Optimal Sourcing Inventory Reduction Inventory Management Software Inventory Management 52

ToolsGroup

MAY 16, 2023

Balancing Inventory Remains the Key to Customer Service and Profitability Although fast expansion remains a priority for some segments (like medical equipment), many of the supply chain executives we spoke to named inventory levels as their main concern. Fortunately, “service-driven planning” is already a proven theory.

Gartner 283

Gartner Supply Chain Planning Software Supply Chain Planning Inventory Reduction 283

Precoro

JULY 16, 2023

In other words, the purchasing manager is responsible for securing inventory requirements within the company’s budget and overall efficiency of the company’s purchases. Performance and Reliability of Contracted Suppliers This KPI is a reflection of how efficiently the company cooperates with the contracted suppliers.

Pricing Training 98

Pricing Training Purchasing Skills Procurement Analytics Purchasing Training 98

Silvon Software

JULY 22, 2022

In fact, such KPIs are so crucial right now that the supply chain analytics market is expected to reach nearly $17 billion by 2027 as companies ramp up their supply chain performance management initiatives. Why is KPI tracking so important in supply chain management? Customer Order Cycle Time. Days Sales Outstanding (DSO).

Metrics 81

Metrics Manufacturing Procurement Supply Chain Planning Software Supply Chain Strategy 81

DELMIA Quintiq

JANUARY 11, 2021

A comprehensive digital planning solution like DELMIA Quintiq S&OP centralizes all enterprise-wide data and facilitates demand forecasting with in-depth statistical analysis capabilities. This ensures that planners end up with the most optimal and efficient plan.

Modeling 268

Modeling Scenario Planning Optimization Modeling Supply Chain Optimization 268

Bristlecone

JUNE 24, 2020

Analytics are key to enabling data-driven decisions that enhance supply chain performance. Managing demand volatility, controlling spend, achieving end-to-end visibility, optimizing inventory – these are all made possible through advanced analytics. Analytics Drivers in Spend, Inventory, S&OP and Plant Maintenance Operations.

S&OP 52

S&OP Supply and Demand Analytics KPI 52

Logistics Bureau

OCTOBER 20, 2021

By now, you are probably wondering what airliners have to do with supply chain KPIs. You see, the set of primary data needed to keep an airliner aloft is (apparently) relatively simple—and the same is true of running a supply chain organisation. If so, please bear with us, because the link is not as tenuous as it might appear.

Supply Chain Design Software 80

Supply Chain Design Software Supply Chain Planning Software Supply Chain Software KPI 80

SCMDOJO

FEBRUARY 20, 2023

It involves various activities, such as warehousing, inventory management, transportation, and logistics. This can include examining everything from inventory management and order fulfilment to warehousing, delivery, and customer service. Optimizing inventory can also be achieved by leveraging technology and data analytics.

Inventory Reduction 101

Inventory Reduction Cost Reduction Strategies Resource Reduction Supply Chain Planning Software 101

Supply Chain Game Changer

JULY 21, 2021

In supply chain, simply observing your entire supply chain in action to assess it is not possible, but with data and a reliable performance management system like The Owl, you can at-least have a real-time view of your supply chain performance through KPIs and metrics. Inventory Turnover (Cash). Procurement Cost.

Supply Chain Planning Software 98

Supply Chain Planning Software Negotiating Skills Purchasing Skills Manufacturing Procurement 98

Logility

APRIL 2, 2020

Rewarding good performers based on objective data. Lastly, develop Key Performance Indicators (KPIs) around those measures. A good KPI will be measurable against some benchmark or criteria. It’s relatively easy to identify a large number of KPIs to monitor – but it can be a lot harder to capture the data you’ll need.

Negotiating Skills 157

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

AIMMS

FEBRUARY 16, 2021

The top 3 bottlenecks companies experience tend to be poor internal alignment between departments, raw material and product availability, and inventory levels and management. These are: End-to-end visibility: integrate with live data and gain visibility into detailed flow data of product availability and customer demand, as well as KPIs.

Modeling 311

Modeling Scenario Planning Supply Chain Planning Software S&OP 311

ThroughPut

JUNE 4, 2020

What is Inventory Optimization? Inventory Optimization is defined as a method of balancing the manufacturers’ capital investment constraints and goals along with the defined service-level goals over a large assortment of stock-keeping units (SKUs) while considering all demand and supply volatility situations. Inventory strategy.

Optimal Sourcing 52

Optimal Sourcing Inventory Reduction Inventory Management Software Optimization Software 52

ThroughPut

JUNE 4, 2020

What is Inventory Optimization? Inventory Optimization is defined as a method of balancing the manufacturers’ capital investment constraints and goals along with the defined service-level goals over a large assortment of stock-keeping units (SKUs) while considering all demand and supply volatility situations. Inventory strategy.

Optimal Sourcing 52

Optimal Sourcing Inventory Reduction Inventory Management Software Optimization Software 52

Intelligent Audit

OCTOBER 27, 2022

In 2008, Dr. Raymond Panko published a paper detailing examples of human error in data entry. When manually entering data into a spreadsheet, the probability of human error was 18-40%. One solution is to turn to big shipping data. That’s why it’s critical to have an audit partner who can ingest data across all systems.

Big Data 52

Big Data Predictive Analytics Analytics Software Optimal Sourcing 52

BlueYonder

APRIL 9, 2024

as siloed entities will not only yield less accurate data and a failure to promise deliveries to consumers, but it will probably incur more costs for less returns while taking much longer. Each of these individual elements tick the parallel KPI boxes of saved money, lower emissions, and improved customer satisfaction.

Optimal Sourcing 101

Optimal Sourcing Sustainability Material Savings Waste Reduction 101

Silvon Software

JUNE 23, 2020

Remember that the KPI you want to measure today, may not be the one you want to measure tomorrow. Inventory Turns and Sales-to-Inventory Ratio. Assessing DSO is another key supply chain metric – one for which you’ll need AR data that’s generally easy to access. I address this particular KPI is more detail later below.

Manufacturing Procurement 86

Manufacturing Procurement Metrics Gartner Supply Chain Planning Software 86

Unleashed

DECEMBER 11, 2022

When you measure and analyse the right warehouse KPIs, you can make better-informed business decisions based on real data. In this guide to warehouse KPIs: What are ‘warehouse KPIs’ and why should you use them? High inventory turnover rates indicate strong sales or insufficient stock on hand.

Warehousing 98

Warehousing Inventory Reduction Cost Reduction Strategies Inventory Management Software 98

Logistics Viewpoints

DECEMBER 5, 2022

Those industries include data communications, medical, industrial, automotive and consumer electronics. Those shipments can move directly to customers or move to several regional distribution centers (DCs) that serve as forward inventory locations and consolidation hubs servicing customers and channel partners. What’s Next?

Agile and Lean Supply Chain 196

Agile and Lean Supply Chain Rail Software Manufacturing Procurement Supply Chain Planning Software 196

Veridian Solutions

SEPTEMBER 20, 2018

Greater control and efficiency in modern warehouse management rests on the reliability and accuracy of your inventory management processes. Achieving these goals requires the use of data to measure performance and accuracy in inventory management, so Warehouse Managers must develop robust inventory management KPIs to enable such improvements.

Inventory Management Software 45

Inventory Management Software Inventory Management Inventory Reduction Optimal Sourcing 45

SCMDOJO

MARCH 19, 2024

This might involve optimizing inventory levels, negotiating better deals with suppliers, or implementing just-in-time manufacturing techniques. Data-Driven Decisions The structure provides a framework for collecting and analyzing data across the supply chain.

Optimal Sourcing 74

Optimal Sourcing Supply Chain Planning Software Negotiating Skills Material Savings 74

Silvon Software

FEBRUARY 23, 2023

As powerful tools to support these initiatives, both Key Risk Indicators (KRIs) and Key Performance Indicators (KPIs) are metrics that can be used to monitor business performance and track potential risks. Not surprisingly, many question whether KRIs and Key Performance Indicators (KPIs) are one in the same.

Procurement Analytics 64

Procurement Analytics KPI Analytics Software Supply Chain Planning Software 64

RFgen

AUGUST 12, 2020

Warehouse automation in the form of mobile barcoding and data collection are vital technologies for survival in a pandemic climate. In each, warehouse automation technologies, such as mobile barcoding and automated data collection , have helped companies reduce spend and improve KPI performance.

Supply Chain Software 55

Supply Chain Software Beverage Food Supply Chain Design Software 55

GlobalTranz

JANUARY 4, 2017

Lean is DAILY continuous improvement, pull systems to reduce inventories (versus push that increases inventory), Lean Six Sigma to improve quality to.003 Leading/lagging indicators: KPIS for continuous improvement in problem/process issues; collaboration, transparency, and partnering. Lean IS their DAILY work.

Modeling 194

Modeling Negotiating Skills Cost Reduction Strategies Scenario Planning 194

ToolsGroup

MARCH 17, 2021

Starting from pre-implementation we align on target key performance indicator (KPI) levels and benchmark progress to accelerate time to value. Because our customers around the globe can meet or exceed their service level requirements while minimizing inventory, they’re ready for whatever tomorrow brings.”

Optimal Sourcing 120

Optimal Sourcing Supply Chain Planning Software Demand Planning Software ToolsGroup 120

Silvon Software

MARCH 3, 2023

Key to that is understanding what you should measure to assess your S&OP effectiveness, where to set your Key Performance Indicators (KPIs) and the most optimal methods you should use to analyze your data to improve performance.

S&OP 102

S&OP Procurement Analytics Supply and Demand Analytics Software 102

EazyStock

JANUARY 21, 2021

EazyStock is one such add-on that helps customers in need of more advanced inventory forecasting, planning and replenishment. In this post we’re going to review Dynamics Business Central’s inventory management capabilities and discuss what additional features and benefits EazyStock can offer. Manage non-stocked items.

Inventory Management Software 52

Inventory Management Software Inventory Management Forecasting Software Optimization Software 52

SYSPRO Smarter ERP

NOVEMBER 3, 2021

Industries experienced severe operational and financial consequences with issues like supply shortages, supply and demand surges, inventory shortfalls and reduced productivity. It measures the amount of elapsed time from when an order is accepted to when the product is produced and entered into finished goods inventory.

Manufacturing Procurement 105

Manufacturing Procurement Supply Chain Planning Software Supply Chain Design Software Agile and Lean Supply Chain 105

RFgen

AUGUST 12, 2020

Warehouse automation in the form of mobile barcoding and data collection are vital technologies for survival in a pandemic climate. In each, warehouse automation technologies, such as mobile barcoding and automated data collection , have helped companies reduce spend and improve KPI performance.

Supply Chain Software 52

Supply Chain Software Beverage Food Supply Chain Design Software 52

Techgistics

APRIL 30, 2023

Large amounts of data from various sources, including the agents, sensors, and other systems can be analyzed, to identify patterns, predict future trends, and make informed decisions. For example, ML can be used to make autonomous slotting decisions - no more manual processes or dependency on spreadsheets to slot inventory.

Optimization Software 130

Optimization Software Predictive Analytics Software Optimal Sourcing Warehousing 130

Unleashed

APRIL 9, 2024

OTIF is an important KPI because it directly impacts customer satisfaction and trust in supply chain partnerships. It measures inventory availability and the ability to meet customer orders as they come in. Conversely, a low OTIF rate may force you to maintain higher inventory levels to compensate for uncertainties in supply.

Vendor Strategies 52

Vendor Strategies Inventory Reduction Waste Reduction Cost Reduction Strategies 52

The Smart Software

MARCH 11, 2024

In this video blog, we explore the critical roles of Descriptive, Predictive, and Prescriptive Analytics in inventory management, highlighting their essential contributions to driving supply chain optimization through strategic foresight and insightful data analysis.

Prescriptive Analytics Software 85

Prescriptive Analytics Software Predictive Analytics Analytics Software Analytics 85