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
Initially, the output was published to procurement to design strategic buying strategies. More and more cargo shifted to ocean transport until the container imbalances resulted in issues with “rolling the freight” from ship to ship despite confirmed bookings. Watermelon Metrics Don’t Drive The Right Results.
Interview for Metrics That Matter. My kitchen table is piled high with interviews for the upcoming book, Metrics That Matter. I recently interviewed him for my upcoming book, Metrics that Matter, that publishes in August 2014. Which metrics do you think matter to supply chain excellence? I am behind.
Running procurement and supply chain without metrics is like driving blindfolded. Identify Bottlenecks & Opportunities: Quickly spot areas that are underperforming and need attention or areas where you’re excelling. Control Costs: Track value beyond just the purchase price and manage inventory effectively.
Many companies talk about Supply Chain Excellence, but most leaders struggle to define it. One supply chain leader, in a discussion last week, likened supply chain excellence to fitness. He felt that supply chain excellence was analogous. Our journey for supply chain excellence has changed and evolved over time.
Transportation has followed the same evolutionary pattern, moving upstream from day-to-day freight transactions to an integral component of top-level corporate planning and procurement strategy. Going forward, it is vital that shippers analyze their freight spend and if required renegotiate their rates regularly to remain competitive.
The Freightos Baltic Index Global Container Freight Index shows the cost of shipping freight remains hugely elevated – more than double the price a year earlier. In fact, global freight rates have increased tenfold since the start of the pandemic. Brand loyalty is no longer the driver for consumer purchasing decisions.
Q: You mention that Executive Buy-in is the biggest stumbling block. What techniques are being used to get executive buy-in? Q: What will be the role of the freight companies in the supply chain agility? Freight companies and alternate modes are key elements of agile networks. Tips on Executing Agility Well.
She works with supply chain leaders to take teams to higher levels of excellence and is an influencer with more than 340,000 followers on LinkedIn. How often do your purchase orders change? For example, if your supplier is on wafer-thin margins, it may be bulk purchasing in order to reduce costs, leaving it with excess stock.
There is no doubt, that the retail landscape is increasingly looking like an online one as traditional brick-and-mortar retailers, such as Toys R Us, Foot Locker, and Best Buy mobile shutter hundreds of stores unable to keep up with the changing customer that wants fast, free delivery all with just a click of a button. trillion, a 3.8
It can include assembly and installation, furniture repair, pickups, and exchanges, reports Brian Straight of Freight Waves. More importantly, the most popular store for purchasing large, bulky items, such as furniture and appliances, is still Amazon, followed by the Home Depot. White glove service. If personalized service.
Today, 7% of order and purchase order flows move through business networks. Lora has written the books Supply Chain Metrics That Matter and Bricks Matter , and is currently working on her third book, Leadership Matters. Lora thinks that we are never too old to learn or to push for excellence.
Working with a managed transportation services provider (3PL) is an excellent way for shippers to improve their logistics operation and reduce costs. Qualified providers will establish and report on KPIs based on the service metrics most relevant to your company. Do they have the buying power? What’s the ROI?
While forecast accuracy, if used well, can reduce safety stock, what I find in the study of the global multi-national is the rise of cycle stock due to increased item complexity, and the increase of in transit inventories due to longer freight lanes and longer cycles in ocean transportation.
The global logistics industry undergoes transformative change because of technological developments which enhance delivery services from last-mile operations to worldwide freight management. Companies like FedEx and DHL spend significant resources developing proprietary systems to stay ahead in operational excellence.
If you recently scored a purchased order (PO) from Walmart, congratulations! On February 1 st , 2024, these requirements changed to 90% for on-time and 95% for in-full metric s. The consequences of not meeting OTIF standards go beyond fumbled revenue for not having product on the shelf. You must be super excited.
So, many suppliers utilize outside logistics management to ensure customers remain fully satisfied and continue to repeat purchasing. meaningful and accurate performance metrics. reputation for excellence in reverse logistical results. meaningful and accurate performance metrics. reverse logistic cycle time control.
Procurement training equips you to excel in the corporate world by teaching you everything from supplier dynamics to negotiating strategies. What is procurement and purchasing Lesson 2. Procurement and Purchasing Cycle Lesson 7. Make or Buy decision Lesson 3. Trends and tendencies in procurement Lesson 3.
The freight industry operates within a complex network characterized by numerous inefficiencies. Logistical Efficiency Through Collaboration and Optimization The freight industry offers numerous avenues for improving efficiency, from optimizing vehicle utilization to fostering collaborative partnerships. References: Bullock, S.
As we head into 2016, we are featuring our most read articles of 2015 in our five main categories: Manufacturing, Supply Chain, Logistics, Transportation Management, and Freight. No Purchase Orders were used. However, one thing that should come to mind is the prowess of the retail giant's supply chain excellence.
A carefully calculated reorder point is therefore critical to good stock control, and keeps your key metrics looking healthy for your next inventory report. Calculating the reorder point in Excel. Calculating the reorder point in Excel – a caveat. Reorder Point = (4 bags used x 3 days lead time) + 38 bags. Keep great suppliers.
Such information should include pricing (including quantity pricing and quantity discounts), purchase currency, margins, transaction histories, and key contact information. It also means you can connect your front-end to the back – i.e. inventory management – which ensures that your customers don’t buy items that you don’t have in stock.
It can also assist in determining specific metrics that affect the business. When repair work or fuel purchases are needed for fleet operations , some people make their decisions based on factors such as convenience or time investment. Seek Volume Discounts and Company Fleet Programs for Recurring Expenses.
The visibility will include not just the short-term purchase order or ASN-level visibility, but also the tactical kind of forecast collaboration with the suppliers. If the organization is used to doing certain things in Excel, just automating the same process will not be sufficient.
Logistics is a highly procedural function with clearly defined responsibilities and performance metrics. System driven audit support – for freight audit management. Logistics should care about digitization because its activity is heavily dependent on vast amounts of data originating with 3rd parties outside of its control.
Having an excellent business fleet is one of the secrets of highly successful companies. A functional digital tachograph can measure significant metrics like speed, driving time, and driver’s activity. The increasing cost of fuel, car maintenance and purchasing of vehicles can drain a company’s resources.
It boasts excellent infrastructure, including well-connected harbors, well-educated people, and multilingual capabilities, making it an international logistics hotspot. While it possesses the buying power of a large corporation, NUNNER focuses on providing tailor-made solutions to its customers.
Logistics data refers to the metrics used to track, measure, and benchmark parts of your supply chain’s performance. With an effective data program, you can measure your past execution and use predictive analytics in the logistics industry to make the best decisions about your freight. What is Logistics Data?
For example, a member of the sales team could apply to become a purchasing agent, based on her experience of negotiating sales deals. Recommend ways to enhance performance metrics such as inventory, delivery, and overdue orders. Organise collection and shipment of freight. Purchasing Agent. Supply Chain Coordinator.
Our supply chain involves a contract manufacturer, a third-party testing facility, warehouses to store inventory and a freighting company. For example, if my contract manufacturer is late with an order it can cause me to incur excess costs with the freighting and warehousing companies, respectively.
Create an adaptive unified buying process. “If you look at the typical buying process, it is bifurcated based on geography. If I am going to buy goods from this geography, then I use this process. At the very least, they should see a message indicating that the products are out of stock before they make the purchase.
As produce transportation winds down and the freight market loosens slightly for the first time in several months, CPG shippers have the opportunity to prepare for the quickly approaching peak season. Peak season in this context is defined by increased freight volume associated with back-to-school shopping and the coming holiday season.
I don’t for one second deny that the companies on the list have great supply chains, but there are so many advances in Supply Chain technology, talent, skills and capabilities that it is hard to believe that all of this excellence is restricted to the same group of 20 companies year after year after year. Gartner Survey Metric Notes: 1.
Highly effective shippers realize that purchasing decisions should be based on value, not just cost. The best value combines a good price, with excellent on time performance and great service. Excellent communication. A highly effective shipper will use metrics or key process indicators (KPIs) to monitor logistics performance.
Delivering on-time and in-full is essential to success and a metric used by retailers when evaluating partnerships with vendors of all sizes. But first, let’s look at the background of OTIF metrics and why they came to be. If unable to find a product in store, consumers are quick to turn their attention online and purchase goods there.
It currently just uses on-time metrics to grade suppliers and the store’s retail buyers can base purchasing decisions on a brand’s delivery performance. Typically, they evaluate standard metrics like on-time delivery, inventory management, missed shipments, lead time, and costs. Tougher OTIF Standards at Sam’s Club.
Similarly, meeting customer demands builds customer satisfaction and loyalty, increases the likelihood of repeat purchases, and usually leads to more sales. Evaluate the most cost-effective methods for transporting finished goods and freight from the manufacturer to your warehouse(s), including ground , air, and/or ocean.
Not only does warehouse optimization result in a healthier bottom line, but it also improves key warehouse metrics like accurate orders and on-time delivery. There are about 10+ measurements on evaluating the efficiency, but all those get consolidated to a single metric called the ‘LPMH’ (lines per man hour).
I don’t for one second deny that the companies on the list have great supply chains, but there are so many advances in Supply Chain technology, talent, skills and capabilities that it is hard to believe that all of this excellence is restricted to the same group of 20 companies year after year after year. Gartner Survey Metric Notes: 1.
Mobile apps can generate reports and monitor performance metrics. “Tightening capacity requires a more ‘connected’ broker…” While freight growth is forecast to slow in 2019, truckload capacity will remain tight, largely driven by a tight labor market, new regulations and other factors.
The LTL carrier scorecard with key process indicators (KPI) is an excellent tool for measuring and managing LTL performance and LTL carrier performance. Perhaps this is why, so many LTL shippers make purchasing decisions based on price alone. Key Process Indicators vs. Metrics. Advantages of Using an LTL Carrier Scorecard.
Logistics is a highly procedural function with clearly defined responsibilities and performance metrics. System driven audit support – for freight audit management. Logistics should care about digitization because its activity is heavily dependent on vast amounts of data originating with 3rd parties outside of its control.
While many logistics service providers commenced as domestic carriers or international freight forwarders they have diversified over the last 30 years. Reduction in Asset Capital Warehouses and vehicles are expensive to purchase or lease and can tie up millions of dollars that could otherwise be invested in the core business of the firm.
With so many changing variables, excel sheets or human intervention alone can’t gain the level of visibility needed to forecast the future. Your sourcing department can save valuable time because AI tools analyze suppliers with the aid of relevant data points and metrics and match them with the contract opportunities available.
Some of these inefficiencies often start with improper purchase ordering. We download Excel files from the ShipBob dashboard all the time and use them to analyze everything from cancelations, to examining order weights, to checking on whether ShipBob is shipping orders on time. The analytics are super helpful.
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