This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Picture this: You’re a warehouse manager, and with a few taps on your smartphone, you instantly know the exact location and quantity of every item in your inventory. That’s not science fiction—it’s the power of mobile inventory management. Ready to turn your inventory from a headache into a strategic asset?
You thought you had your inventory under control. But here’s the hard truth: your inventory might be sneaking around behind your back – racking up costs, hoarding working capital, and ghosting your optimization efforts. You thought you had your inventory under control. You implemented the processes. Yes, the dreaded silo!
Measuring and Improving Procurement Strategy Performance A successful procurement strategy is data-driven andsupports continuous improvement across key metrics such as cost savings, supplier performance, delivery reliability, and ESG compliance. Platforms should support structured collaboration from intake management to invoice automation.
Measuring and Improving Procurement Strategy Performance A successful procurement strategy is data-driven andsupports continuous improvement across key metrics such as cost savings, supplier performance, delivery reliability, and ESG compliance. Platforms should support structured collaboration from intake management to invoice automation.
Scheduled for November 21-22, 2025 at the Chattanooga Convention Center, the festival will feature interactive sessions, technology demos, and networking opportunities focused on topics like market forecasts, sustainability, and digital transformation. Supply chain leaders have grappled with disruptions from events like the U.S.-China
Managing spare parts inventory has always been a delicate balancing act—excess inventory ties up capital, while shortages risk costly downtime and production delays. That’s why a growing number of organizations are turning to AI software for spare parts inventory management. What is Spare Parts Inventory Management?
We’ll walk through key benefits, types of spend analysis, steps to get started, and metrics to track—backed by lessons learned from real-world implementations. Schedule a demo of Ivalua’s Spend Analysis solution today! Watch Demo / Find Out More FAQs What is spend analysis in procurement? Let’s dig in!
Ivalua’s open ecosystem enables smooth integration with logistics, supplier performance, and inventory tools, ensuring procurement decisions are informed by the most up-to-date supply chain insights. Watch Demo | Explore Platform FAQs about Procurement Technology How does Procurement Software differ from ERP?
The software automatically pulls inventory data from your warehouse for a real-time stock count update across all your sales channels. Align your products and SKUs across different channels and manage your inventory effortlessly in one place. Inventory management integrations 4.
The software automatically pulls inventory data from your warehouse for a real-time stock count update across all your sales channels. Align your products and SKUs across different channels and manage your inventory effortlessly in one place. Inventory management integrations 4.
Types of cost efficiency metrics Here are five main types of cost efficiency metrics: Cost per unit : Total cost divided by units produced (e.g., Key cost categories include: Direct costs : Raw materials, labor, and inventory. Book a Demo Promote an efficiency-first mindset Make cost efficiency a cultural standard.
As experts in retail data management and analytics, Crisp standardizes metrics, relationships, and business logic across the retail industry, creating a consistent language that both technical and non-technical teams can leverage in AI applications, including LLMs (large language models) such as CoPilot and ChatGPT, among others.
AI can process large amounts of historical supplier performance data across multiple metrics, allowing procurement teams to make more informed, data-driven decisions instead of relying solely on anecdotal evidence or subjective evaluations. Generating purchase orders based on demand forecasts or inventory levels.
In a Deloitte survey of retail professionals , 60% reported that AI tools improved their ability to forecast demand and manage inventory in 2024. AI systems can assess the impact of these changes on inventory positions and transportation needs, recommending optimal adjustments to maintain service levels while minimizing costs.
Include: Objectives and success metrics Preferred supplier profile or sourcing model Key risks and mitigation actions Stakeholder roles Timeline and next steps The more clearly you document and communicate your strategy, the smoother the execution phase will be. The result is fewer rush orders, smaller inventories, and lower total costs.
Retail data is a necessary foundation for CPG operations and decision-making, providing suppliers with crucial visibility into real-time retail and inventory movements across thousands of touchpoints. The semantic layer explicitly defines these metrics, establishes their relationships, and encodes necessary underlying business logic.
An accurate sales forecast helps the team align inventory and production with customer demand. Start by comparing your upcoming budget with past performance metrics , such as past income, expenses, and spending patterns, then analyze how the budget will perform in real-world conditions.
Velocity metrics often convince retail buyers to add products to their assortments, with some having minimum velocity requirements. Crisp is your collaborative commerce platform, enabling you to align marketing strategies, optimize inventory management, and better serve the needs of retailers, suppliers, and consumers alike.
Book a Demo Common Missteps in Achieving Procurement Cost Reduction Cost reduction promises big rewards, but a misstep can lead to greater costs later. For example, cutting inventory to save money could result in stockouts, delayed orders, backorders, and missed customer opportunities.
Importance of Metrics in Reverse Logistics Management. To monitor progress against its reverse logistics management plan, a company needs metrics that measure the financial impact of returns on the firm and on other members of the supply chain. Energy used in handling returns : This metric is used in sustainability programs.
During this time, the same AI tools that underwrite new technologies have been key in improving efficiency and optimizing all areas of logistics and supply chain processes including forecasting, supply planning, inventory management, manufacturing, network optimization, and more.
Our biggest headaches were very basic – we couldn’t easily switch between metric and imperial measures, and currency conversions were a nightmare. We give them a quick demo, show them where to find the data and they’re able to drive the system independently,” says Smith. We still had two separate systems,” Smith said.
Jump to sales, marketing, and finance demo videos here Traditional Demand Planning Challenges: Current demand planners can get bogged down in the daily grind of gathering, organizing, and analyzing the sales history for an accurate forecast. Stretched for time? A key part of this process is incorporating this knowledge into the demand plan.
Along with its AI-driven demand forecasting and inventory planning software, ToolsGroup has introduced new customer support offerings for COVID-19 planning as well as educational resources including the ebook “ COVID-19 Risk: Enable Swift and Efficient Response to Supply Chain Disruptions.” About ToolsGroup.
For many companies, the term “inventory optimization” has become more of a catch phrase than an actual reality. The idea of cutting inventory costs while maintaining the same level of customer service is rather elusive. Inventory, together with receivables, are essential components of the cash-to-cash cycle time.
A new study by the SupplyChainDigest analyzing the main components of working capital: Days Sales Outstanding (DSO), Days Inventory Outstanding (DIO), and Days Payables Outstanding (DPO) revealed an uptick in DIO. New Study Shows a Rise in US Company Inventories. Request a Demo of. Source: Commerce Dept. View full report.
Over the last few years, Google has demoed ad-supported conversational AI and self-driving cars while Magic Leap released videos showing augmented reality wildlife floating in an office as if these products were in final pre-release development. What has changed for me? What has changed for me?
In this guide, we’ll show you what metrics those are, easy ways to find them, and how you can use them to accelerate your brand’s retail growth. Now that you know how to access your retail data easily and often, here are the metrics you’ll want to keep on hand: Velocity. Retail data: A brand’s greatest asset. Supply Chain.
Strength – Inventory Turns & Operating Margin Vector Trajectory (30%). Resiliency – Inventory Turns & Operating Margin Mean Distance (30%). Some of the key differentiators between leading supply chain companies and laggards included a focus on horizontal processes instead of functional metrics. Request a Demo of.
Supply chain key performance indicators and metrics are ways in which someone can quantify the performance of their company’s supply chain to gain a better understanding of its strengths and weaknesses. Inventory Turnover (Cash). Product Management KPIs! Get Our EBOOK HERE. Procurement Cost.
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.
Inventory – Excess material and WIP. Each of these types of waste has at least one metric associated with it. While there isn’t always a clear 1:1 correlation, the chart below shows just some of the most common metrics impacted when improvements are made. Remember, you don’t need to measure every one of these metrics.
Activities include running promotions, creating displays, and demoing products in-store. Additionally, merchandising teams can check on the stores’ phantom inventory and make sure that inventory is going on the shelf. Phantom Inventory Tracker. Uncover artificial On Hand inventory and recover lost sales.
But on the other hand, retailers also want to maintain a low average inventory to avoid excess costs. These ‘ driver metrics ’ can give you an early signal to act on before your outcome is impacted. Reduced OOS is our outcome, but we still need to build out the driver metrics to understand steps leading up to it.
OTIF – On-Time In-Full On-Time In-Full (OTIF) is a key logistics metric that evaluates whether shipments are delivered completely and on schedule. JIT – Just In Time Just In Time (JIT) is a strategy that involves managing inventory to receive goods only as they are needed in the production process.
A Warehouse Management Software (WMS) is one that helps plan, control, and manage the day-to-day manufacturing operations in a warehouse along with the guidance of inventory movement, optimizing order picking, and shipping of customer orders. The WMS guides the overall order and inventory replenishment on the factory floor.
Optimize Inventory with the Right Inventory Management Solution Tip – Make sure you always have periodic stock control to avoid stockouts and overstocking. Inventory forms a major part of your supply chain efficiency metric as it points directly to your ability of keeping sufficient stocks at a given point in time.
Forecasts drive most downstream supply chain processes because they help supply chain leaders determine the amount of raw materials needed; and how to gauge inventory levels to avoid overstocks or an understock. Determine the Metrics That Matter. Request a Demo of The Arkieva Supply Chain Software Suite. Source: Arkieva.
At first glance, supply chain metrics may seem to tell you a lot about your current supply chain operations. For those that have worked in the supply chain, the situation is similar to reducing inventory and increasing receivables at the same time. In developing supply chain metrics , we need to be conscious of this as well.
Work in process (WIP) inventory is typically found in manufacturing environments where goods undergo various stages of processing before being sold or used. Tracking WIP inventory is important for monitoring production efficiency, identifying bottlenecks, and managing costs within the manufacturing process.
Manufacturing inventory management is crucial to the success and profitability of your manufacturing operations. This guide for manufacturers explains how it works and explores the most effective ways to manage inventory in manufacturing. In this manufacturing inventory management guide What is manufacturing inventory management?
In chemicals at least, the best-in-class manufacturers are running at an inventory to sales ratio of 8% or so, while their competitors struggle to maintain adequate service at an inventory to sales ratio of 12% or even higher. Creating Metrics to Measure Financial Performance. Suitable metrics are the first place to start.
Effectively Managing inventory is a common challenge for many supply chain and manufacturing professionals. Without proper inventory management, businesses can face stockouts, overstocking, and increased operational costs, which can impact profitability and customer satisfaction. What Is Inventory Management?
An enterprise resource planning (ERP) inventory system provides an integrated solution for managing inventory, operations, and financial planning. This quick guide dives into the concept of ERP inventory management, outlines the benefits and risks, and provides some best practices for implementing an ERP inventory system.
We organize all of the trending information in your field so you don't have to. Join 102,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content