SCMDOJO

NOVEMBER 9, 2023

The primary goal of inventory control is to reduce the costs associated with holding stock. This is achieved by helping business owners determine the right time to restock their items or purchase materials for production. Furthermore, implementing the right Inventory Control Techniques can help reduce storage costs.

Inventory Reduction 80

Inventory Reduction Expense Reduction Cost Reduction Strategies Optimal Sourcing 80

RFgen

APRIL 12, 2024

To better understand how organizations like yours can better manage inventory costs, let’s start at the beginning— The Basics of Inventory Costs Inventory costs encapsulate all expenses incurred throughout the inventory lifecycle. Therefore, the goal is to optimize cost to optimize profits and catalyze growth.

Inventory Reduction 75

Inventory Reduction Cost Reduction Strategies Purchasing Skills Optimal Sourcing 75

GlobalTranz

APRIL 25, 2016

The average Supply Chain management professional measures their Supply Chain by reviewing cost reduction. Is cost reduction all that there is in measuring Supply Chain performance? 3 Key Metrics for Measuring Supply Chain Performance Beyond Cost Reduction. Cost reduction is still very important.

Procurement Analytics 120

Procurement Analytics Supply Chain Performance Metrics Supply Chain Software 120

Logistics Viewpoints

AUGUST 5, 2021

PwC reports that almost half of assets under management are held by investment firms committed to decarbonization. It was a rude surprise when I learned it would cost $100 to fill the tank. I was drawn to Hunter and Amory Lovins, who advocated a strategy pairing energy efficiency with renewables, long before its current popularity.

Supply Chain Planning Software 299

Supply Chain Planning Software Sustainability Material Savings Supply Chain Planning 299

RFgen

APRIL 30, 2024

Imagine the impact on your operations if you could all but eliminate stockouts and overstocks. Or reduce carrying costs. Whereas perpetual inventory provides continuous insights, eliminating the guesswork and inaccuracies associated with manual counts and delayed reporting. Or have reliable visibility at all times.

Inventory Management Software 79

Inventory Management Software Inventory Reduction Supply Chain Planning Software Optimization Software 79

ShipBob

FEBRUARY 3, 2023

By monitoring particular metrics over time across your online sales, in-store sales, and operations, you’ll gain quantitative insights into your business performance. A retail KPI (or “Key Performance Indicator”) refers to a quantifiable metric used to measure how a retail business is performing. Why are retail metrics important?

Procurement Analytics 52

Procurement Analytics Metrics Retail Inventory Reduction 52

GlobalTranz

FEBRUARY 17, 2016

This is the second part of my series on various ways to reduce overall costs as it relates to logistics and warehouse cost reductions. In the first part I put forth 6 areas of focus in order to reduce logistics costs. A Focus on Inventory Control Begets Warehouse Cost Reductions.

Cost Reduction Strategies 120

Cost Reduction Strategies Inventory Reduction Waste Reduction Vendor Strategies 120

SCMDOJO

DECEMBER 18, 2023

In the world of manufacturing and maintenance, effective spare parts management is essential for maximizing equipment uptime and reducing costs. Let’s explore the key strategies to ensure your maintenance operations run smoothly. Yet, handling spare parts can be tricky and needs careful planning and execution.

Inventory Reduction 63

Inventory Reduction Optimal Sourcing Expense Reduction Vendor Strategies 63

Elementum

JUNE 30, 2022

Welcome to Elementum’s Supply Chain Market Report. Supply Chain Market Report – July 2022 This edition will cover: The signs of looming stagflation How executives can prepare their supply chains The imminent problem of staffing shortages The latest use of drones in supply chain Notable changes in the leadership ranks.

Procurement Analytics 78

Procurement Analytics Supply Chain Design Software Supply Chain Software Supply Chain Planning Software 78

Logistics Bureau

APRIL 3, 2023

If you’re a decision-maker with accountability for your organisation’s entire supply chain, and you’re just starting to think about outsourcing, perhaps to reduce costs or improve service, this post should prove well worth the few minutes it will take you to read it.

Optimal Sourcing 73

Optimal Sourcing Cost Reduction Strategies Material Savings Inventory Reduction 73

ShipBob

DECEMBER 13, 2023

Reduced spoilage and obsolescence: Critical for perishable or trend-sensitive products. These metrics provide valuable insights into how well your inventory is managed. How to monitor inventory turnover ratio: Calculation: Divide the cost of goods sold (COGS) by the average inventory value.

Optimal Sourcing 52

Optimal Sourcing Optimization Software Inventory Reduction Inventory Management Software 52

Unleashed

JANUARY 3, 2023

Without an accurate grasp of production costs and how they relate to sales throughout different periods, you may never realise that the products you think are selling well are some of your biggest laggards. Production lead times aren’t profitable The moment that you purchase raw materials, you also lock access to all that capital.

Manufacturing Procurement 96

Manufacturing Procurement Material Savings Expense Reduction Inventory Reduction 96

Precoro

APRIL 18, 2023

On the other hand, a software development company wouldn’t need to purchase raw materials but rather goods – such as hardware – and services, like software subscriptions. Shipping Rates Delivery cost makes up a significant part of a company’s procurement expenses, so visibility is essential for taming the spending.

Supply Chain Planning Software 98

Supply Chain Planning Software Supply Chain Design Software Real-time Visibility Supply Chain Software 98

GlobalTranz

OCTOBER 2, 2018

Yet, as few as 33 percent of shippers have taken advantage of a transportation management system (TMS), reports Michael of Levans of Logistics Management. This is due to the higher rate of returns associated with e-commerce purchases. Going back to reverse logistics, consumers expect a hassle-free, cost-free returns process.

Logistics Network Optimization Software 198

Logistics Network Optimization Software Material Savings Vendor Strategies Cost Reduction Strategies 198

Freightos

NOVEMBER 11, 2021

Maersk has unabashedly championed vertical integration for years, advocating an “end-to-end” strategy. More on Maersk’s transition to an end-to-end provider can be found in this 2020 report. And, not to be left behind, it’s also pursued a horizontal integration strategy, acquiring a growing fleet of airplanes. Enter Big Tech.

Price Reduction 177

Price Reduction Logistics Network Optimization Software Cost Reduction Strategies Expense Reduction 177

Unleashed

OCTOBER 30, 2023

Ecommerce consumers want fast, accurate deliveries and a transparent purchasing process. In this guide, we break down the WooCommerce order fulfilment process and how it works, with actionable tips for optimising your fulfilment strategy to bring costs down and boost productivity.

Inventory Management Software 52

Inventory Management Software Manufacturing Procurement Procurement Solutions Material Savings 52

Supply Chain Matters

DECEMBER 21, 2022

The Supply Chain Matters blog provides commentary and perspectives on FedEx ’s fiscal Q2 revenue and profitability shortfall prompting additional cost cutting actions. . Factors were partially offset by increased purchased transportation rates, lower package volume, and higher other operating expenses.

Cost Reduction Strategies 59

Cost Reduction Strategies Expense Reduction Sourcing Strategies Purchasing Skills 59

Supply Chain Game Changer

NOVEMBER 19, 2018

As such there can be unrelenting pressure to continue to cut costs. Pressures for Cost Reduction in Supply Chain. Certainly there are many factors which can cause a company to apply intense pressure on Supply Chain, as well as other functions, to reduce their costs. Why is Supply Chain often undervalued?

Negotiating Skills 84

Negotiating Skills Cost Reduction Strategies Purchasing Skills Inventory Reduction 84

EazyStock

NOVEMBER 19, 2020

Stock (or inventory) replenishment is the process of moving items along the supply chain so they are ready to be picked and shipped, thus fulfilling orders on time. But when looking at the bigger picture the ‘best-price’ is not always the most cost-effective way to procure a product. Effective stock replenishment.

Optimal Sourcing 98

Optimal Sourcing Negotiating Skills Inventory Reduction Purchasing Skills 98

ShipBob

NOVEMBER 24, 2023

It’s a strategy that categorizes inventory based on factors like demand patterns, lead time, value, and more. Inventory segmentation ensures that each product is placed and managed according to specific metrics, creating a streamlined path from shelf to shipment. This is where inventory segmentation can help.

Inventory Reduction 52

Inventory Reduction Optimal Sourcing Sourcing Strategies Inventory Management Software 52

Logistics Bureau

JANUARY 7, 2020

Conversely, just 8% of businesses with less capable supply chains report above-average growth. 2) According to a 2012 report into corporate insolvencies by the Australian Securities and Investments Commission, 44% of businesses in Australia failed because of poor strategic management. Supply Chain Strategy.

Inventory Reduction 101

Inventory Reduction Cost Reduction Strategies Supply Chain Design Software Vendor Strategies 101

Logistics Bureau

APRIL 4, 2022

Whether your company is a big or small player in terms of shipping volumes, and regardless of your chosen transportation modes (road, rail, ocean, air), the health of your bottom line depends in no small part on the competitiveness of your freight prices. and “what is a reasonable range of rates for our company’s typical shipping scenarios?”.

Benchmarking 68

Benchmarking Negotiating Skills Logistics Network Optimization Software Purchasing Skills 68

Unleashed

AUGUST 16, 2023

Goods available to be purchased on backorder can mean the difference between a lost sale and a satisfied customer. A backorder is a customer order that could not be fulfilled immediately but will be shipped out once the ordered items become available. The inability to purchase out-of-stock goods will usually send a customer elsewhere.

Procurement Solutions 52

Procurement Solutions Sourcing Strategies Manufacturing Procurement Inventory Reduction 52

Unleashed

MARCH 31, 2021

When we refer to the ‘supply chain’, we’re referring to the network of suppliers, manufacturers, producers, shipping companies and more who, when combined, produce, ship and sell products and services to end-users. A lean business looking to build efficiencies would do well to try and improve this metric. What is logistics?

Supply Chain Planning Software 69

Supply Chain Planning Software Logistics Network Optimization Software Supply Chain Software Agile and Lean Supply Chain 69

Unleashed

DECEMBER 10, 2023

An enterprise resource planning (ERP) system is a software solution that integrates and manages various parts of your business, such as sales, finance, marketing, planning, human resources, and procurement. An ERP system is designed to manage back-office processes, such as production scheduling , material planning, accounting, and reporting.

Inventory Management Software 52

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

Unleashed

DECEMBER 11, 2022

That’s why, with so many possible variables to track, it’s critical to know which metrics matter most. However, tracking 50 irrelevant warehouse metrics is far less valuable than tracking a few hyper-useful ones. How to improve your order cycle time: Reduce travel time during the picking process.

Warehousing 98

Warehousing Inventory Reduction Cost Reduction Strategies Inventory Management Software 98

ModusLink Corporation

DECEMBER 13, 2022

Carrier rates are declining across the board, and Seatrade Maritime News reported an “expected trough of freight rates to mid-2023 from 2024 with a lower demand forecast and a higher than expected effective capacity increase due to the unwinding of congestion. Alternative Fulfillment Strategies Will Be Key. 30 November 2022. <[link].

Agile and Lean Supply Chain 78

Agile and Lean Supply Chain Supply Chain Software Supply Chain Planning Software Trends 78

Silvon Software

APRIL 1, 2024

Business strategy solution jigsaw puzzle Today’s business applications are capturing, processing, and storing unprecedented volumes of data. Requests for custom reports or dashboards by business leaders are met with lengthy development times by IT or external analysts, resulting in single-use reports that are limited in scope.

Procurement Analytics 59

Procurement Analytics Analytics Software Predictive Analytics Analytics 59

Intelligent Audit

JULY 5, 2022

New FedEx CEO Adjusts Strategies in His First Earnings Call. As diesel prices keep climbing and home-delivery demand declines, FedEx CEO and President Raj Subramaniam explained the company’s strategy for the new fiscal year during FedEx’s Q4 earnings call. Transpacific Container Rates In Turmoil. year-on-year.”

Quality 52

Quality Supply Chain Planning Software Procurement Solutions Procurement Analytics 52

ThroughPut

JUNE 4, 2020

Also in 2015, the global cost of overstocking goods was $470 billion , while the cost of under-stocking was more than $600 billion. With accurate Inventory Optimization, manufacturers can streamline stocking issues using predictive analytics and data-driven insights. . Inventory strategy. Demand forecasting.

Optimal Sourcing 52

Optimal Sourcing Inventory Reduction Inventory Management Software Optimization Software 52

ThroughPut

JUNE 4, 2020

Also in 2015, the global cost of overstocking goods was $470 billion , while the cost of under-stocking was more than $600 billion. With accurate Inventory Optimization, manufacturers can streamline stocking issues using predictive analytics and data-driven insights. . Inventory strategy. Demand forecasting.

Optimal Sourcing 52

Optimal Sourcing Inventory Reduction Inventory Management Software Optimization Software 52

Precoro

JULY 9, 2023

According to research by Ardent Partners in 2023, over two-thirds of invoices are linked to a purchase order, indicating that about one-third of invoices are not. While it may be tempting to assume that skipping purchase order creation speeds up the procurement process, the study emphasizes the disadvantages of such an approach.

Procurement Solutions 98

Procurement Solutions Procurement Analytics Purchasing Skills Eliminating Excel in Purchasing 98

OptiProERP

JANUARY 7, 2020

Invoice ageing reporting options uncover customers who lag in payments and require reminders . Enhance customer satisfaction and cost efficiency by integrating material availability data with delivery dates, and real-time manufacturing capacity . Invoices are emailed in batches so customers receive them in a timely manner .

Real-time Visibility 86

Real-time Visibility Manufacturing Procurement Material Savings Inventory Reduction 86

ShipBob

NOVEMBER 6, 2023

Cutoff analysis Cutoff analysis is when you pause operations such as receiving and shipping at the time of the physical count to ensure nothing is being handled and goes unaccounted for. This helps you understand trends so you can be better informed during inventory procurement and when you’re forecasting demand.

Inventory Reduction 52

Inventory Reduction Inventory Inventory Management Software Forecasting Software 52

Precoro

FEBRUARY 12, 2024

You’ll learn how liquidity impacts working capital and the role it plays in attracting outside funding, understand liquidity ratios, and discover the best practices for building a liquidity management strategy. There’s a toolkit of metrics to help the treasury department understand the level of liquidity.

Optimal Sourcing 102

Optimal Sourcing Expense Reduction Inventory Reduction Negotiating Skills 102

Unleashed

MAY 30, 2023

Read on to learn what it is, how it works, and the pros and cons of this inventory strategy. Anticipation inventory can be described as the inventory which is purchased in anticipation of expected increases in demand. For example, easter eggs purchased ahead of Easter, or pumpkins purchased ahead of Halloween.

Inventory Reduction 52

Inventory Reduction Inventory Negotiating Skills Purchasing Skills 52

Logistics Bureau

APRIL 8, 2016

The Key Supply Chain Challenge of Cost Reduction. Supply chain costs often represent a considerable percentage of the sales price of a good or service. Cost savings flow directly to the bottom line. The field for potential reductions is wide open. However, they cannot necessarily be reduced in isolation.

Cost Reduction Strategies 40

Cost Reduction Strategies Material Savings Inventory Reduction Expense Reduction 40