Make Better Logistics Sourcing Decisions with Data-Driven Optimization

Talking Logistics

Over the past few years, as supply chains have grown in scale and complexity, so has the logistics sourcing process. Mature sourcing organizations, which have been doing traditional sourcing and category management, are starting to plateau in terms of savings and impact to their organizations, yet each year are faced with increasing savings mandates and pressure to improve performance. How are companies achieving better outcomes by using data-driven optimization?

Research in Focus: Sourcing Trends and Concerns

Talking Logistics

Below is an excerpt from a report published recently by Amber Road and the American Association of Exporters and Importers (AAEI) titled “ The Trade Trends Report: 2017 Report on Sourcing, Trade, and e-commerce.” Sourcing decisions can complicate or simplify this process.

Transportation Sourcing in an Omni-channel World

Talking Logistics

Unfortunately, many retailers are jumping in without a plan — that is, they are taking a short-term, silo’ed approach to transportation sourcing and execution, and as a result, are failing to meet their desired outcomes. Also, is multi-functional engagement important and, how does omni-channel impact transportation sourcing? According to Joe, enVista’s Director of Transportation, “The key to omni-channel sourcing is that it requires you to understand your goals and objectives.

Big Data in Logistics

Talking Logistics

There are many buzzwords in the supply chain and logistics industry today, and perhaps there’s none bigger than “Big Data.” Everybody talks about it, but what does Big Data really mean? When it comes to leveraging Big Data effectively in your organization, where do you begin? What is Big Data? Like many buzzwords, Big Data means different things to different people. Big Data is not a Technology. This is true with Big Data too.

The Data Needed to Transform Supply Chains

Talking Logistics

Again and again, digitization and data were at the heart of panel and networking conversations. Even headline speakers were professing “data got sexy” and data is now a core strategy for companies looking to succeed. and “What are we using the data for?”

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Supply Chain Big Data: Why Supply Chain Leaders Are Using Big Data Analytics

Cerasis

Thanks to data gathering programs, supply chain software , and data entry applications, this represents a mountain of data, which has the potential to provide ground-breaking insight into how to improve business-model efficiency. As a result, business leaders can reap a significant return on investment by thoroughly analyzing this data. What Is Supply Chain Big Data? Supply Chain big data is the ultimate compilation of data gathered in the course of business.

The Top 5 Reasons You Need a Transportation Sourcing Solution

Talking Logistics

However, if your role is managing the movement of widgets from point A to point B, or multiple points, the freight procurement task before you can be labor intensive and time consuming — unless you use a technology solution specifically designed for transportation sourcing. Data rules.

Eliminating Data Silos

Enterra Insights

Today, however, one is more likely to read about data silos in businesses than storage silos on farms. Business silos, and the data contained in them, are remnants of industrial age organizations. Sullivan asserts siloed data and information are among the most deleterious characteristics of industrial age enterprises. “It It turns out one of the biggest obstacles to turning data into actionable insight.” The problem with data silos. Eliminating data silos.

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Strategic sourcing and ‘big data’

ivalua

Big data is more than a buzz term, and if you are a strategic sourcing professional, it is a concept that should not be ignored. Big data is about synthesizing and making sense of information — better and quicker than your competition.

Is Supply Chain “The” Source of Greater Economic Stability?

Logistics Viewpoints

I thought about the transition from “push” processes to greater use of demand pull in replenishment; how retailers are sharing downstream POS data with their suppliers to develop a more efficient supply network; how multi-echelon inventory optimization […]. On Saturday I engaged in a rare weekend activity for myself – I actually thought about supply chain.

The Future of Ocean Data Sharing and Visibility

Talking Logistics

How are these advancements improving the way data is shared in ocean transportation? Andrew explains that, “Due to regulatory changes, every truck has to have an [ELD] device for tracking data. This data is collected via APIs, eliminating the need for EDI transactions. The ability to share data is vastly expanded, providing more timely, accurate and robust information. Timely data is an important factor enabling them to do that.

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What is Big Data?

Supply Chain Game Changer

Who could ever need to store that much data? That was “Big Data” Let’s fast forward to today. quintillion bytes of data are generated every day. That is a lot of data … That is Big Data! How Big is Big Data? So What is Big Data?

Strategic sourcing enters a new age. Are you keeping up? (Part 1)

ivalua

Since its inception in the late 1980s, strategic sourcing has always been about getting the best value for the goods and services purchased from third party suppliers. The processes and strategies driving supply chain management success are evolving and strategic sourcing is being redefined.

Five Steps to Navigating Supply Chain Analytics Data Challenges

Talking Logistics

Having been in the game of supply chain analytics for so long, we’ve noticed that data is the single biggest challenge our customers and consultants encounter. With the right approach, data challenges can become an issue of the past. Source.

Digital transformation in the life sciences supply chain – show me the data

Kinaxis

Data first. Although getting a new drug to market has its unique challenges compared to the source, make and deliver part of the life sciences supply chain equation, there is one thing those of us in supply chain have in common with our R&D counterparts, we all need clean data.

What’s Big Data in Supply Chain & Logistics? Why Should I Be Looking at This Tech Trend?

Cerasis

Data reflect all the small, seemingly insignificant details of the modern world. From a review of your personal bank account spending habits to larger, more advanced processing capabilities, data evolve and expand with each passing day. Big data in supply chain is not a new concept.

Big Data Analytics: A Key to a Successful Supply Chain in the Next 5 Years?

Cerasis

Big data utilization is the wave of the future for all aspects of business including supply chain management. The problem is that not every company has the resources to begin the process of big data management and have yet to see the extent of benefits it can provide to analyze and use such data management. There are several direct and indirect benefits to using big data analytics for your supply chain. Immediate Benefits of Big Data Analytics.

Improving Supply Chain Collaboration: Connecting Data

Kinaxis

Making informed decisions fast comes down to collaboration – how effectively the data, processes and people who oversee the supply chain can connect, communicate and interact with one another. Let’s zero in on the first of the “disconnects” explored in the eBook – data.

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The Power of Downstream Data for Sensing Demand

ToolsGroup

Source: Supply Chain Insights, “The Power of Downstream Data”, July 2017. POS data helps sense and respond to localized demand. Downstream data is the demand data that powers a market-driven, “outside-in” supply chain.

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Big data and supply chain optimization: Illusion vs. reality

Quintiq

Suddenly, discussions seem to treat big data as a driver for incredible innovation. Assuming that big data was superior to “just any data” came from evidence in the B2C market, but this did not stop bold predictions about how it could also transform supply chain operation.

Using Weather and Climate Data to Improve Demand Forecasting

ToolsGroup

But weather data adds a more granular time-sensitive signal. But it is amenable to machine learning , which can crunch enormous amounts of data. You input the data, and let the machine “understand” the demand latency depending on product and area. Source: NYCCSC.

Data integrity: Bad data and 3 good things to do about it when supply chain planning

Kinaxis

However, even the best supply chains struggle with a recurring issue – data integrity. The alignment of demand and supply is more difficult because most, if not all, supply chains have data integrity issues. Successful supply chain planning starts with data. Why the data issues?

Sorting out Risk in FinTech Source Chains

NC State SCRC

But emerging technology is now beginning to create new ways to think about sourcing risk, which in the past has been a very manual, encumbered process. This has caused banks to look at the flow of activities in the “source chain”, which refers to the way that third parties use bank data for different opreations. Today, this end to end sourcing process has literally hundreds of different steps in the process.

The Data Behind Amazon’s Logistics and Fulfillment Play

Freightos

Amazon is at the nexus of ecommerce, data, and logistics, with a drive to constantly improve their logistics network. That’s 258 operational facilities in the US and another 486 distributed around the world (see map below, data from MWPVL ). Source: Amazon.com.

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How to Use Big Data to Improve Supply Chain Visibility

Talking Logistics

According to a July 2014 supply chain research study from Accenture focused on Big Data and supply chain risk management, most organizations have high hopes for using big data analytics in their supply chain but many have had challenges in deploying it. There are a number of challenges when adopting and deploying a data analytics solution, and it’s important for organizations to clearly define their goals and objectives before embarking on this endeavor.

Data-Driven Decisions Rule the Modern Supply Chain

PLS Logistics

Data accuracy. An estimated 80% of relevant data is unstructured. But, in transportation there are many sources of structured data to provide business intelligence. 3PL Shippers Big Data

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Using Data to Improve Supply Chain Operations

Material Handling & Logistics

Learn how to organize your data operations in alignment with supply chain strategy. Complex supply chains generate more data, which companies can use to drive greater efficiency or engage in innovation that disrupts an entire industry—think Amazon. Generating Value from Data.

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Information Overload: Is Too Much Data Crippling Your Supply Chain?

Kinaxis

That’s the question many supply chain practitioners are asking themselves in this world of big data, where a flood of new information is rapidly becoming readily available. It’s not about how much data you have, but the quality of that data. by Alexa Cheater How much is too much?

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Blockchain’s potential to authenticate supply chain planning data

ToolsGroup

Blockchain data can be a useful source of certified data to support the supply chain model or "supply chain twin". Despite its cyber fiction feel, the technology essentially just lets you send a block of data to anyone that owns a special encrypted key to access that data. They are completely transparent in the sense that all keyholders have the exact same view of the data, yet securely protected from deletion, tampering, revision and dissemination.

Reinforcing Data on Ocean Container Rate Hikes and Capacity Shifts

Supply Chain Matters

This week's World Container Index from Drewry Advisors is further reinforcing data on double-digit ocean container rate hikes and shifting capacity strategies. Global trade trends Procurement and Sourcing Transportation and LogisticsIndustry supply chains are likely feeling the pressure and so are global regulators.

Chain of Custody: Source of Control in Global Supply Chains

Supply Chain 24/7

The logistics industry is slowly being transformed to the point when the utilization of the electronic data environment will become the norm in the industry and the additional technological advancements in IoT technology will enable the integration of complete cargo supply

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How is technology transforming global sourcing ?

Claritum

Does your business source products and services from global markets? If your company is sourcing goods and services internationally you could be reaping many benefits. However, you could also face many challenges when globally sourcing across geopolitical boundaries.

3 Requirements for Meaningful & Useful Data in Transportation & Business

Cerasis

As data in transportation becomes more abundant and readily available, the question of “ What data is available ?” has changed to “ Is the data meaningful ?” If you are in search of meaningful data it is imperative to understand its building blocks or foundation. Where is the data coming from? It is important to know who is providing the source data used to develop your KPIs. How is the data provided?

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Sourcing promotional products the right way

Claritum

However, it is important for companies to manage the process of sourcing promotional goods effectively. A lot of time and energy can be spent inefficiently sourcing the goods, which can be bought from a huge variety of suppliers at vastly differing prices and quality. Single source.

How to interpret demand-sensing data

The Network Effect

Demand Sensing can import demand data on an hourly rather than a batch or daily basis, immediately sensing demand signal changes as compared to a detailed statistical demand pattern, and then evaluates the statistical significance of the change. What About The Data? Nic McPhee/Flickr.

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