Omnichannel Supply Chain Metrics: What Should Supply Chain Leaders Measure?

Cerasis

The answer lies using these omnichannel supply chain metrics to carefully track and improve operations continuously. Inventory Accuracy. This is a simple key performance indicator (KPI), another name for metrics, to track. It refers to the in-stock or out-of-stock accuracy of supplier inventory. This KPI should be as high as possible, reflecting accurate inventory available for customers from suppliers. Other Critical OmniChannel Supply Chain Metrics to Track.

The Future of Inventory Management

Kinaxis

by Andrew Dunbar This post concludes my inventory management blog series. Inventory management is not a stand-alone business process that occurs after other processes are complete. How does your inventory manager’s role compare to the one I’ve described here?

Vendor-managed inventory and distribution planning in the food and beverage industry – here’s something to chew on

Kinaxis

What is vendor-managed inventory? VMI is the process whereby a supplier or vendor manages and replenishes inventory at a customer’s location at the levels required by the customer. The benefits of the vendor-managed inventory process include: Enhanced visibility for vendor.

Supply Chain Metrics: Make Sure They Are Aligned with Your Strategy!

Supply Chain View from the Field

Many people are talking about Key Performance Indicators, Metrics, Analytics, and other indicators of performance. The importance of selecting the right metrics or “measures” as I prefer to call them, is critical as we all know that metrics drive behaviors. Rather then selecting a plethora of meaningless metrics, it is always better to focus on a critical few, and select them wisely. Step 2 – Develop Metrics and Data Sources. Inventory Goal.

WMS and Cycle Counting: How to Reach Inventory Management KPIs

Veridian Solutions

Greater control and efficiency in modern warehouse management rests on the reliability and accuracy of your inventory management processes. Warehouse Managers need to understand the challenges of cycle counting, how the right KPIs can help, and how to leverage WMS and cycle counting best practices to develop the best inventory management KPIs. A Guide to the Warehouse Metrics Supply Chain Execs Should Track. Which Inventory Management KPIs Are the Best?

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Don’t Perpetuate the Hoax of the Gartner Top 25

Supply Chain Shaman

Inventory Turns (15%) (based on 2014 results). Every year we identify the companies that best exemplify the demand-driven ideal for today’s supply chain and document their best practices, which can help all companies move closer to their demand-driven goals.”

Is Your Company on top of its Inventory Planning Game?

Logistics Bureau

Good inventory management, like everything else, starts with good planning. But planning isn’t just the start; it’s the very foundation of effective inventory control. Inventory planning also happens to be an area that many companies fail to prioritise sufficiently.

S&OP Effectiveness: Recommendations to Make the Leap

Supply Chain Shaman

While many consultants argue on the name–the debate rages with strong arguments of “Should it be Integrated Business Planning (IBP), Sales Inventory and Operations Planning (SIOP), or consensus planning?”–the It is a beautiful fall day in Philadelphia.

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Supply Chain Scope: New Study Shows Rise in US Inventories; California Estimated to Improve Freight Efficiency by 25% in 2030

Arkieva

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.

Don’t Make These 8 Horrible Inventory Management Mistakes Before Halloween

EMERGE App

Not cleaning up the inventory skeletons in your closet can mean a difference between a ho-hum year and a bumper year. Here we’re going to cover some common inventory management mistakes that businesses make while winding up the year. Horror 3: Disappearing Metrics.

LTL Carrier Scorecard with Key Process Indicators (KPIs)

The Logistics of Logistics

Key Process Indicators vs. Metrics. A metric is any standard of measurement (number of carriers, inventory turns, average shipment weight, etc.). A key process indicator (KPI) is a metric that you have chosen that will give an indication of your performance and can be used as a driver for improvement. This means that while all KPIs are metrics, not all metrics are KPIs. Only the most important metrics can grow up to become KPIs.

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Guest Blog Part 2: Start Your eKanban Implementation with Value-stream Mapping and Engaging Your Suppliers

synchrono

With eKanban implementations, this can be any number of problems including excess materials on hand, slow inventory turns, too much scrap and more. For an eKanban project, this would involve documenting the flow of the current, manual Kanban process. (If Monitor your metrics.

How to Make the Most of Your Supply Chain Software

OneSCM

These messages can be Purchase Orders, PO Acknowledgements, Advanced Shipment Notifications, Invoices, Credit Memos, Sales Orders or any other type of document traded within the supply chain that are communicated through HTTP/S, FTP, or our Integration Framework. ” As we’ve seen in other reports, on time delivery from suppliers is one of the most important metrics observed by executives today. How to Make the Most of Your Supply Chain Software.

Things Aren’t Always as They Appear in Today’s Supply Chain: The Direct Correlation Between the Accuracy of Your Mobile Data Inputs and Your Factory’s Outputs

OneSCM

That is why it’s fair to say that what you see is not always what you get in today’s high-tech manufacturing plants and warehouses (once the final performance metrics are tallied days or months later). You need a way for workers to document transactions in real-time.

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9 Key Topics to Understand to Frame A Shipper’s Mind for Effective KPI Management with a 3PL

Cerasis

It can take months to negotiate a complex SLA/KPI document, as you go back and forth with your logistics provider so the document becomes a “win-win” for both parties. After the SLA/KPI is an approved document by both the customer and logistics provider, this document and its contents need to be reviewed monthly to begin with, and quarterly thereafter. For example: Inventory Record Accuracy has to be 98-100% accurate daily. All KPIS have metrics to measure.

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Understanding Your Safety Stock Calculations

Demand Solutions

At this point, you may be saying to yourself, "but carrying excess inventory is expensive!" If your business is one of them, what is the basis for your "rule of thumb" metric?

8 Common Warehousing Mistakes and How to Avoid Them

Logistics Bureau

1: Holding Excess Inventory. Despite years of knowledge dissemination in the warehousing field, encouraging lean practice and inventory reduction, storing too much inventory is still one of the most common warehousing mistakes made by supply chain organizations worldwide. Reducing inventory levels as far as possible makes your supply chain leaner and leaves you with less money tied up in stock. Articles Inventory - S&OP Warehouse warehouse management warehousing

Lean Manufacturing: Is it Really Worth It? 16 Big Benefits Say, “Yes.”

Cerasis

A company in need of lean manufacturing practices tends to be easy to identify, typically displaying multiple of the following symptoms of operational deficiency: Inventory amasses in buffer stocks. Inventory records, product specs, shipping documents contain errors. There are excess inventories of some materials and shortages of needed. Holding areas are maintained for excess inventory. cuts inventory costs.

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4 Reasons to Integrate Order-to-Cash & Procure-to-Pay

OneSCM

The ease of implementing and onboarding supply chain management solutions gives wider visibility in manufacturing, as well as orders and inventory. For example: how much would more timely document submissions and responses (PO/POACK, ASN, Invoice, etc.)

Things Aren’t Always as They Appear in Today’s Supply Chain: The Direct Correlation Between the Accuracy of Your Mobile Data Inputs and Your Plant’s Outputs

OneSCM

That is why it’s fair to say that what you see is not always what you get in today’s high-tech manufacturing plants and warehouses (once the final performance metrics are tallied days or months later). You need a way for workers to document transactions in real-time.

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How to Sustain a Lean Culture in Manufacturing & Supply Chain

Cerasis

All activities are documented by a team recorder. It typically describes how a process should consistently be executed and documents current ‘best practices.’ These metrics would, of course, be aligned and are updated every hour.

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Demand-Driven Transformation at Shell

Supply Chain Shaman

Completed in 2012, the ERP project forced the company to standardize organizational design, roles, and metrics. They saw a steady drop in inventory and reduced working capital by about 50% over the period of 2011-2015. Impact of Demand Sensing on Inventory Levels.

Things Aren’t Always as They Appear in Today’s Supply Chain: The Direct Correlation Between the Accuracy of Your Mobile Data Inputs and Your Factory’s Outputs

OneSCM

That is why it’s fair to say that what you see is not always what you get in today’s high-tech manufacturing plants and warehouses (once the final performance metrics are tallied days or months later). You need a way for workers to document transactions in real-time.

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Driving Organizational Alignment

Supply Chain Shaman

In supply chain strategy documents, terms like alignment, agility, responsiveness, and flexibility dot the page. When there is a common reporting strategy, progress in metrics performance at the intersection of operating margin and inventory turns is faster.

Who Needs Quality Management?

Oracle SCM

With such an approach, companies are working in a sub-optimal manner, and then start to face these types of challenges: - Quality metrics are either not available or are incomplete. - Inability to view real-time metrics. Everyone knows that quality is an important topic.

Why Reverse Logistics Systems and Transportation Management Should Be Considered Together

Cerasis

Companies that integrate reverse logistics systems into their logistics systems distinguish themselves from competitors in: effective management of inventory availability and cost. meaningful and accurate performance metrics.

Omni-channel Emerging as Top Retail Logistics Issue

Supply Chain Network

Learn how these retailers determine key metrics for the stores and for the Executive team, and how they measure and improve efficiency in order to better serve their customers. Networked companies have a single version of information related to inventory status, POs, inventory, shipments, payments and documents. Associations Conferences Emerging Trends Inventory Retail Retail E-Commerce Supply Chain Management

Executing Customer-Centric Supply Chain Strategies

Supply Chain Shaman

I want to understand why some companies outperform on the Supply Chain Metrics That Matter while others do not. About twice a month, companies ask me to review their strategy documents. To be a collaborative trading partner, build a good perpetual inventory signal.

Top 10 Features of an Autonomous Warehouse

3PL Insights

The information received can be checked for accuracy with the company’s inventory software. This allows for inventory to be viewed in “real time.”. Real time inventory : Lost inventory can become extremely expensive. Metrics: Autonomous vehicles have sensors to automatically gather data, which can be uploaded to various applications, hosted onsite or in the cloud.

Talent Trap

Supply Chain Shaman

Despite multimillion dollar technology projects, and tomes of strategy documents, they are stuck in their ability to overcome market factors and rising complexity to drive continuous improvement on a portfolio of metrics.

What’s New with MMOG/LE Version 5?

QAD

The MMOG/LE assessment has been a go-to document for automotive supply chain best practices for thousands of global Tier 1 and Tier 2 suppliers since its first publication in 2002. supplier selection and assessment, new product launch, use of metrics in the supplier assessment process).

Transportation Management

LeanCor

Transportation, like inventory, is necessary activity within logistics. This first law is that transportation strategy and execution should be developed by inventory strategies designed to support customer expectations. The Laws of Lean Transportation Management. link].

[WHITE PAPER] 4 Strategic Considerations when Considering Offshoring Parts of your Supply Chain

Cerasis

Longer lead times will also require you to forecast inventory needs more accurately. Use key metrics and a scorecard system to understand if product is flowing as planned.

Off to another exciting year of student-industry engagement at NC State on cutting-edge supply chain projects

NC State SCRC

Lenovo Excess and Obsolete Inventory. The students will review and document the current geography allocation process for Surplus/excess, Overage and Unconsumed Purchase parts inventory (SOUP). MUFG Union Bank Strategic Performance Metrics.

Make Your Supply Chains Less Complex – and Less Wasteful!

Talking Logistics

Mariotti states that you first have to measure it, and he outlines several metrics and techniques in the book, including ranking customers by annual sales, profit, and gross margin percentage. Inventory : Having raw materials, work-in-progress (WIP) or finished goods that are not having value added to them.

Insights into ERP systems in supply chain planning and implementation

Kinaxis

It also looks at the inventory file that your planned order is coming in, purchase orders and shop orders that you’ve already got scheduled. But also, the end user documentation, to make sure that we have the new screens, the new formats, etc. by Dustin Mattison.

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Improving Supply Chain Collaboration: Connecting Processes

Kinaxis

Individual, functional metrics are tracked, instead of taking a horizontal view that gives insight into the health of the supply chain network and interdependencies of the individual functions. Making these kinds of decisions requires easy access to demand, supply, capacity and inventory data.

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