Logistics Viewpoints

JANUARY 26, 2021

The definition of agility and resilience will continue to evolve. The creation of a new digital ecosystem has enabled these and other changes that will shape the definition of supply chain agility and resilience in the 2020s and beyond. There are Also Commercial Reasons. The Road to Agility and Resilience.

Agile and Lean Supply Chain 268

Agile and Lean Supply Chain Supply Chain Software Supply Chain Planning Software Supply Chain Strategy 268

Supply Chain Shaman

FEBRUARY 16, 2024

Let’s Start With Clear Definitions My inbox is full. The market is flooded with references to AI, but few stop to give a definition. To combat the hype cycle to drive value, I think that we need to get clear on use cases and definitions. Before reading this post, consider reading my prior blog post, Don’t AI This.

Supply Chain Planning Software 374

Supply Chain Planning Software Supply Chain Design Software Modeling Supply and Demand 374

Supply Chain Shaman

SEPTEMBER 5, 2022

Inventory Is an Egregious Symptom of Supply Chains Gone Wrong. Today, inventory fire sales abound. Headline news included Wal-Mart, Target, Kohl’s and Macy’s struggling with inventory bloat and offering deep discounts. Wall Street Journal Headline on Retailers Using Containers to Store Excess Inventories. My take away?

Supply Chain Planning Software 235

Supply Chain Planning Software Supply Chain Planning Supply Chain Software Supply Chain Strategy 235

ThroughPut

MAY 13, 2022

In this article, we look at the capabilities of the most common forecasting methods, and which situations they are best for given their current limitations. Breaking down demand forecasting. Before getting into the forecasting models, it would be useful to define the three main components of demand forecasting.

Forecasting 52

Forecasting Supply and Demand Forecasting Software Modeling 52

ThroughPut

OCTOBER 7, 2022

Step Up Demand Planning Efforts with a Robust Forecasting Model . Demand forecasting can be a game changer in today’s volatile environment. Infact, according to McKinsey , applying AI-driven demand forecasting to supply chain management can cut down errors by 20-50% and this helps reduce lost sales by 65%.

Forecasting 52

Forecasting Modeling Supply and Demand Forecasting Software 52

ToolsGroup

FEBRUARY 28, 2023

So we’re excited to be delivering significant enhancements to our solution and expanding our already formidable and innovative forecasting , inventory optimization , and replenishment capabilities that help our customers deliver on promises to their customers, while reducing inventory (and their carbon footprints) and boosting profitability.

Supply and Demand 156

Supply and Demand Supply Chain Planning Software Modeling Demand Planning Software 156

ThroughPut

MAY 13, 2022

In this article, we look at the capabilities of the most common forecasting methods, and which situations they are best for given their current limitations. . Breaking down demand forecasting. Before getting into the forecasting models, it would be useful to define the three main components of demand forecasting.

Forecasting 52

Forecasting Supply and Demand Forecasting Software Modeling 52

Supply Chain Shaman

JULY 25, 2021

Orbit Chart of Four Industry Sectors at the Intersection of Operating Margin and Inventory Turns (Year-over-Year Averages for the Sector). Implementation of Sales Forecasting. The focus on sales forecasting started shortly after Y2k. Lack of Focus on Form & Function of Inventory and Designing Network Flows.

Procurement Analytics 370

Procurement Analytics Supply Chain Design Software Agile and Lean Supply Chain Supply Chain Planning Software 370

ToolsGroup

FEBRUARY 7, 2021

In episode six of Be Ready for Anything, ToolsGroup’s Pre-Sales Manager for Europe, Birger Klinke, talks about what retailers should expect in 2021 and how they can leverage probabilistic forecasting and automation to adjust to a changing marketplace. So this is definitely something from the supply side, what is the takeaway?

Predictive Analytics Software 295

Predictive Analytics Software Retail Modeling Forecasting 295

Supply Chain Shaman

MARCH 27, 2023

Definitions: Oxymoron: The combination of contradictory or incongruous words (such as cruel kindness) Juxtaposition: The act of placing words or concepts close together or side by side, for comparison or contrast. What is the role of inventory? The goal of a forecast? Or unclear on the definition of supply chain excellence?

Supply Chain Planning Software 308

Supply Chain Planning Software Supply Chain Planning Scenario Planning Supply Chain Design Software 308

Supply Chain Shaman

JUNE 21, 2023

Before you react, here are some definitions. We find that the companies with the most marked improvement in a balanced scorecard of growth, inventory turns, operating margin, and Return on Invested Capital (ROIC) are smaller and less well-known. Challenge convention—the traditional definition of supply chain planning is passee.

Gartner 346

Gartner Supply Chain Planning Software Supply Chain Design Software Supply Chain Planning 346

Supply Chain Shaman

FEBRUARY 14, 2022

Orchestration enables companies to effectively manage trade-offs between source, make, deliver and sell.) Tight coupling of the supply chain forecast to the financial forecast will improve value. Companies tightly coupling the budget to S&OP have significantly higher inventories and lower growth than their peer group.

S&OP 195

S&OP Supply and Demand Procurement Analytics Manufacturing Procurement 195

QAD

MARCH 30, 2023

As I discussed in a recent article in RFID Journal , RFID technology has changed a lot since 2005 and could be the secret to ensuring greater visibility and inventory accuracy this year. They don’t have an internal power source, so range and data storage is sacrificed to gain cost efficiency and lifespan. What is RFID Technology?

Manufacturing Procurement 92

Manufacturing Procurement Inventory Management Software Supply Chain Planning Software Supply Chain Software 92

Supply Chain Shaman

AUGUST 7, 2019

They tend to have many pretty PowerPoint slide decks–full of acronyms, pretty pictures and E2E commitments–but they lack a common definition of supply chain excellence. ” Or alternatively, “Is there data that could be sourced to help?” inventory turns. As a group, we drill into root issues.

Supply Chain Design Software 250

Supply Chain Design Software Supply Chain Planning Software Supply Chain Software Supply Chain Design 250

Supply Chain Shaman

SEPTEMBER 10, 2020

While many companies attempt to improve the response by being reactive on traditional data sources, this is not the answer. The briefings are full of terms like demand sensing, control tower concepts, digital transformation, and cognitive computing, but when I ask for definitions, the answers are not forthcoming. What To Do?

Supply Chain Planning Software 395

Supply Chain Planning Software Supply and Demand Supply Chain Design Software Supply Chain Software 395

Supply Chain Shaman

SEPTEMBER 28, 2022

Definition: “Someone’s efforts, resolve, or viability are tested; things are meaningfully challenging. Based on the current issues with material shortages, labor issues, electrical costs and outages, weather events, and water availability, I forecast an equal level of disruption for the next three years. “ Wikipedia.

Manufacturing Procurement 195

Manufacturing Procurement Supply Chain Design Software Network Design Software Supply Chain Planning Software 195

Unleashed

AUGUST 20, 2023

There are many definitions for lead time in supply chain management. It includes everything from the procurement of raw materials to production, inventory management, and shipping. For customers, it can mean the time it takes to receive an order after they have purchased it. Let’s break down the most common ones.

Manufacturing Procurement 52

Manufacturing Procurement Inventory Reduction Sourcing Strategies Procurement Analytics 52

Supply Chain Shaman

OCTOBER 8, 2019

The budget is not sufficient and is often a detrimental input for supply chain forecasting. Why Is the Financial Forecast Not a Good Proxy for a Supply Chain Forecast? There are many reasons why the budget cannot be used as a supply chain forecast. The supply chain forecast is a rolling forecast.

Supply Chain Design Software 183

Supply Chain Design Software Inventory Reduction Supply Chain Planning Software Forecasting 183

Supply Chain Shaman

JUNE 9, 2023

Each box has an optimizer that drives output from a model based on a functional definition using enterprise data. Companies need a planning solution to analyze the trade-offs between make, source, and deliver. A Focus on Safety Stock Is Too Narrow for Effective Inventory Management. I term this bi-directional orchestration.

Optimal Sourcing 299

Optimal Sourcing Supply Chain Planning Software Supply and Demand Supply Chain Design Software 299

Supply Chain Shaman

NOVEMBER 21, 2018

The industry does not have a definition. 2) Forecast Value Added. Forecast Value-Added (FVA) is a measurement of demand management improvement. This measurement adds discipline to the forecasting process by comparing the error and bias of the forecast as compared to the Naïve Forecast. Inventory levels?

Supply Chain Planning Software 195

Supply Chain Planning Software Forecasting Software Supply Chain Planning Demand Planning Software 195

Supply Chain Shaman

JULY 19, 2015

Let’s start with a definition. A common definition is essential. Like the definition of benchmarking at the top of this post, we believe that the use of an industry standard is essential. In most ‘benchmarking activities’, self-reported data is the most common source. 3) Forecasting Pitfalls.

Benchmarking 150

Benchmarking Supply Chain Planning Software Supply Chain Planning Scenario Planning 150

QAD

JUNE 25, 2019

The effective use of a manufacturer’s inventory investment is an important determinant of the company’s success. Excess and obsolete inventory is a drain on resources, as is excessive safety stock. Managing an Inventory Investment. Managing an Inventory Investment.

Procurement Analytics 105

Procurement Analytics Metrics Inventory Reduction Inventory 105

Unleashed

MAY 7, 2023

With the right systems in place, manufacturing inventory management can help to reduce production and ensure all operational processes are carried out effectively and efficiently. In this guide, we cover the types of manufacturing inventory, the costs, and a few handy strategies for managing it effectively.

Manufacturing Procurement 52

Manufacturing Procurement Inventory Reduction Material Savings Inventory 52

Supply Chain Shaman

SEPTEMBER 22, 2021

As Allyson presented her story of working for multiple consumer products companies, with very advanced technologies (demand sensing, advanced automation of forecasting, data lakes and descriptive analytics), she spoke of why at the end of the day, the most important technology that she uses is Excel. ” Her answer was telling.

Optimal Sourcing 217

Optimal Sourcing Analytics Software Procurement Analytics Supply Chain Planning Software 217

Taulia

JULY 5, 2021

VMI streamlines inventory management and order fulfillment, benefitting both suppliers and buyers. This article elucidates VMI, starting with a concise definition before discussing the difference between VMI and traditional inventory management. What is Vendor Managed Inventory? How does VMI work?

Vendor Strategies 52

Vendor Strategies Inventory Reduction Inventory Optimal Sourcing 52

Supply Chain Shaman

OCTOBER 8, 2017

If we look back at history, 70% of companies implemented Vendor Managed Inventory (VMI), however two-decades later only 1% of companies use VMI processes to drive a better demand signal. On one extreme, there is an argument that forecasts are always wrong, “Why do them at all?” ” I am in the middle.

Supply and Demand 156

Supply and Demand Supply Chain Design Software Supply Chain Planning Software Forecasting Software 156

Supply Chain Trend

JANUARY 22, 2023

This is most likely influenced by the acknowledgement of the new category decision intelligence by Gartner, for which they provided a definition since 2022. In this definition, one needs to ask him/herself ‘What should I do under these circumstances?’ I now see LinkedIn profiles calling out ‘better planning, better decisions.’

Quality 88

Quality Scenario Planning Supply Chain Planning Software Supply Chain Planning 88

Unleashed

JUNE 5, 2023

But if you’re on a tight budget, or you only deal with a handful of SKUs, the modern perpetual inventory method may be a little heavy for your basic needs. What is a periodic inventory system? A periodic inventory system is a method of accounting for inventory in which stock updates are made periodically.

Inventory Management Software 52

Inventory Management Software Supply Chain Planning Software Forecasting Software Demand Planning Software 52

ThroughPut

MARCH 28, 2024

That’s definitely good news. Food Production AI tools can drive advanced predictive analytics with precision forecasting for weather and crop yield predictions. Artificial Intelligence in supply chain helps track products from harvest to distribution channels and manage inventories with greater accuracy. All for the good.

Case Study 52

Case Study Optimal Sourcing Supply Chain Planning Software Food 52

Demand Solutions

JUNE 1, 2020

With big companies like Forever 21 having solvency problems, it becomes apparent that any weakness in supply chain or demand forecasting can seriously hurt a fashion company. But that’s not the only source of waste. Source sustainably. Spend more effort in customer demand forecasting. Modernizing the Supply Chain.

Optimal Sourcing 130

Optimal Sourcing Supply Chain Software Waste Reduction Supply Chain Optimization 130

Logility

FEBRUARY 18, 2020

As a result, we need to agree on some definitions before focusing on the supply chain space. An ML system may be given a data feed — actual product sales, weather, and an existing forecast, for example — and be asked to draw conclusions about it. Machine Learning has been used to improve demand forecasting since the early 2000s.

Supply Chain Planning Software 182

Supply Chain Planning Software Supply Chain Design Software Supply Chain Software Supply and Demand 182

Supply Chain Trend

OCTOBER 20, 2022

The S&OE cycle runs at a higher clock speed, often weekly, with the objective to solve any gap to AOP or latest forecast in the short term, say 0-3 months. It has been defined by Gartner as a top strategic technology trend with the following definition. At a lower level, like sku/location/customer level, or material/vendor.

Supply Chain Software 109

Supply Chain Software S&OP Material Savings Gartner 109

The Logistics of Logistics

SEPTEMBER 12, 2020

The department educates students to succeed in careers such as procurement, manufacturing, inventory management, warehousing, transportation, and customer service. Supply Chain Definition. Forecasting. Inventory management. The business world views Broad’s graduates and faculty as the voice of the SCM field. Scorecards.

Supply Chain Design Software 130

Supply Chain Design Software Negotiate Pricing Negotiating Skills Supply Chain Design 130

The Logistics & Supply Chain Management Society

SEPTEMBER 14, 2021

Sustainability is definitely coming of age in Asia. IDC also forecasts that by 2023, 30 percent of Asian enterprises will ship freight using a SaaS-enabled platform, resulting in improved efficiencies in load matching and reduced shipping costs. Using AI and ML to analyse past performance will help organisations optimise inventory.

Supply Chain Planning Software 223

Supply Chain Planning Software Supply Chain Software Modeling Software Forecasting Software 223

Supply Chain Shaman

AUGUST 14, 2016

Starting With Definitions. To help, I wrote a few definitions on the board: Demand-Driven Processes. In 2012 I built on these concepts to define the market-driven value network. The definition: an adaptive network focused on a well-defined value-based outcomes. Definition of Outside-In Processes. The Building Blocks.

Material Savings 181

Material Savings Inventory Reduction Price Reduction Cost Reduction Strategies 181

ToolsGroup

SEPTEMBER 22, 2020

Given these staggering statistics, what are demand forecasters to do? That means there are many companies out there struggling to make sense of constantly shifting demand data and to make smart inventory optimization decisions. Typically forecasts look out a month to 90 days, during which planners are unable to make improvements.

Supply and Demand 156

Supply and Demand Gartner Supply Chain Design Software Supply Chain Planning Software 156

Supply Chain Game Changer

NOVEMBER 8, 2022

With the design of any product or service it is necessary to establish viable and reliable sources of supply. But more than just finding sources in response to demands from the R&D and Design teams, intelligent Procurement teams are also proactively searching for and qualifying sources in anticipation of future needs.

Supply Chain Design 114

Supply Chain Design Supply Chain Planning Supply Chain Strategy Manufacturing Procurement 114