Revisiting Transportation Forecasting

Talking Logistics

Many companies have collaborative planning and forecasting processes with suppliers and manufacturing partners, but very few companies translate demand and production forecasts into transportation capacity requirements. In this episode, Adrian discusses the key challenges and opportunities associated with transportation forecasting. Watch as Adrian discusses: Two key reasons why transportation forecasting has been a challenge to implement.

Why Supply Chain Managers & Procurement Should Collaborate

Cerasis

The roles of logistics and procurement in an efficient supply chain cannot be overstated. According to Paul Myerson , reports Industry Week, up 70 percent of a company’s costs come from procurement and logistics operations. However, both logistics and procurement often become isolated in modern companies, resulting in inefficient practices and a sluggish production value. So, why do supply chain managers not take advantage of this data with respect to procurement?

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10 Key Logistics & Procurement Supply Chain Practices to Know and Master to Reduce Spend.

Cerasis

However, following these 10 practices can help you learn how to reduce spend in the procurement supply chain. As a result, an external benchmarking tool , explains Olga Rissin of CHAINalytics , offers the benefits of reducing internal spend and accessing outside data, which further drives competitive advantage and lower spend in managing the procurement supply chain. Take Advantage of Cloud-Based Analytics for Better Warehouse Management and Forecasting.

7 Ways to Strategically Elevate Freight Procurement

Talking Logistics

In the last decade, many companies, especially those with manufacturing operations, have evolved direct materials sourcing from an administrative function to a strategic procurement process. The embodiment of this transformation is the chief procurement officer, an increasingly common title for executives that strategically source goods and services. As a strategic process, transportation procurement may still seem very tedious and challenging.

Top 7 Benefits of System driven Inventory Projections

Arkieva

Scientific and system-driven Inventory Projection facilitates a quick decision-making process and enables a prompt analysis of alternative what-if scenarios. The following are the top 7 benefits of system driven inventory projection.

Procurement – How to Enable Spend Aggregation!

Supply Chain Game Changer

Check out Procurement: The Spend Aggregation Obstacle Course! Aggregating your procurement spend for the purpose of delivering greater value is a sound objective. We discussed these in greater detail in our post Procurement (Part 1!) – The Spend Aggregation Obstacle Course!

Demand Forecasting: The Unfair Competitive Advantage

Logility

” scenario: in many supply chain organizations, sub-SKU forecasting (the task of translating high-level forecasts into specific quantities by size, color, configuration, region, etc.) It is time to take the sub-SKU forecast burden off of the supply team.

Procurement Experiences, Trends and the Future!

Supply Chain Game Changer

Check out What is Virtual Procurement and Why Should You Care? Where is procurement, outsourcing, sourcing, supply chain, and purchasing going? We have worked in hundreds of different industries and spend areas over many years in thousands of procurement projects.

Demand Forecasting: The Unfair Competitive Advantage

Logility

” scenario: in many supply chain organizations, sub-SKU forecasting (the task of translating high-level forecasts into specific quantities by size, color, configuration, region, etc.) It is time to take the sub-SKU forecast burden off of the supply team.

Procurement Challenges Condensed

Claritum

Claritum Article - Procurement Blog. I took on the challenge of writing a condensed version of all the current Procurement challenges. I believe the issue with these articles is the broad range encompassed by the word Procurement and the constant change within this domain.

Digitalization in Procurement: Your Questions Answered

Jaggaer

Last week JAGGAER hosted a webinar reviewing the findings of our recently released 2019 Digital Procurement Survey Report. We reviewed the key takeaways and provided recommendations for how procurement professionals can begin to take advantage of next-generation technologies. 35% of respondents said it was their main challenge in modernizing their procurement process. Digital transformation in procurement is not just automation. Procurement Resources

Procurement Trends 2019 – what’s your priority?

Eyvo

There is no shortage of predictions from procurement experts and companies. Anyone can purchase products and services so procurement, as a department, has the challenge of showing value in every aspect of their existence. The post Procurement Trends 2019 – what’s your priority?

Logistics & SCM, PLM, Manufacturing, and Procurement 2016

Supply Chain Movement

Logistics & SCM, PLM, Manufacturing, and Procurement 2016. URL: sapinsiderevents.wispubs.com/2016/Vienna/SCM-PLM-MFG-Procurement-CRM/. Logistics & SCM, PLM, Manufacturing, and Procurement 2016, sponsored by SAP, is the most important educational event of the year for organizations using SCM, PLM, manufacturing, and procurement solutions to fortify their business operations and infrastructure with proven methodologies and measurable, value-driven results.

SCM 60

Streamline Procurement Activities By Reducing Your Purchase Order Cycle Time

Unleashed

The most effective way to streamline procurement activities is to include a well-considered purchase order cycle as part of your purchasing processes, one that allows you to plan for expenses and budget for the costs of doing business. The purchase order life cycle is the set of steps taken to process a purchase order to procure goods for your business and it includes the following steps: 1. Business Tips procurement purchase order purchase orders

The Procurement Economy in 2019: The UK and the European Union

Jaggaer

So what does the economic forecast look like in Europe? and the European Union and examines how procurement organisations can best prepare in the new year. With Brexit looming and the possibility of World Trade Organisation rules coming into effect in UK/EU trade, the European procurement and supply chain markets look unsteady. With nothing settled, procurement teams are left trying to prepare for multiple outcomes, anticipating changes with ripple effects around the globe.

Procurement Must Contribute to Competitiveness to Become Relevant!

NC State SCRC

Procurement is always thinking about cost savings, year over year. What if, for example, procurement has a budgeted amount for 4.5 cents, so procurement declares victory and says they saved their organization a lot of money: 3 cents per unit!

Procurement Perspectives In Year 2017

CormSquare

Procurement too is not untouched from these changes, but the question is how? The power of the crowd to unlock concrete forecasts about the future is a key means to add real impactful data into buyer’s plans. Where will Procurement be in 2017?

Future Procurement Capabilities: Supply Managers Need to Think like CFO’s

Supply Chain View from the Field

In this first of a series of blogs, I will be exploring many of the key themes that emerged in the recent Future of Procurement study I co-authored with KPMG’s Procurement Advisory Council. The first of the themes we will explore is the procurement manager’s role as a support to the Chief Financial Officer. So for procurement, the value of an off-balance float and the total cost of ownership given higher interest rates suddenly become more important.

INTEGRATED PROCUREMENT – A NEW WAY TO PROCURE

Eyvo

Every company has similar procurement processes that start by identifying the items required for their operational purposes, creating requisitions, issuing orders to the suppliers, receiving the goods and making the payments. Accounts without procurement. Integrated Procurement.

Overcoming Ocean Freight Procurement Hurdles in 2019

CHAINalytics

The lack of visibility needed to keep your ocean freight management in line with your forecast presents additional challenges for shippers.

Procurement Trends 2019 – what’s your priority?

Eyvo

There is no shortage of predictions from procurement experts and companies. Anyone can purchase products and services so procurement, as a department, has the challenge of showing value in every aspect of their existence. The race for procuring, pun intended, the best talent has been challenging. Project-based procurement, consultative engagement, product and service specialization, need for geographic presence, among the many factors will permeate procurement.

Applying the Laws of Forecasting to Predictive Analytics

NC State SCRC

We met at the United Club in Chicago, as he was on his way back from a visit with Honda, and met to discuss the upcoming study I will be working on with him on procurement analytics for the Center for Advanced Purchasing Studies later this summer. We had a chance to catch up on a great number of things, but one that sticks in my mind is the discussion on predictive analytics and forecasting. And we always return to the two cardinal rules that deal with the accuracy of forecasting.”

Contingent Workforce is a Major Focus for Procurement

NC State SCRC

Brian Hoffmeyer from IQ Navigator, a procure to pay solution, spoke today at IBM’s Empower event on this trend, and the implications for procurement. But 60% of the workforce is not well managed and unaccounted for in financial planning, budgeting and forecasting. It helps to manage the procure to pay process for contingent labor – and helps to manage workflows. The number of workers who are “contingent is growing rapidly.

What Value Are You Getting From Planning?

Supply Chain Shaman

Outsourcing–procurement, manufacturing and transportation– decreased visibility and increased data latency. 2) Forecast Value Added. Forecast Value-Added (FVA) is a measurement of demand management improvement.

Predictive analytics in procurement means using whatever data is available

NC State SCRC

Predictive analytics is still relatively new in procurement, but it’s increasingly important, particularly in organizations that have already been through the cycle of spend analytics, supplier leveraging, segmentation, and consolidation. This provides the ability to forecast revenue, mitigate disruption, identify market opportunities, and much more. Furthermore, prediction requires highly sophisticated levels of procurement analytical modeling capability.

INTEGRATED PROCUREMENT – A NEW WAY TO PROCURE

Eyvo

Every company has similar procurement processes that start by identifying the items required for their operational purposes, creating requisitions, issuing orders to the suppliers, receiving the goods and making the payments. Accounts without procurement. Integrated Procurement.

Procurement as a Non-Profit Center for Supply Chain Risk Consolidation

Supply Chain View from the Field

I spent some time this week with a group of procurement executives from Restaurant Supply Chain Solutions, a company that conducts all of the procurement and supply chain activity for YUM! As a result of the settlement, RSCS was created as a non-profit procurement center of excellence, that works with the franchisees, the brands, and the operators to negotiate contracts.

INTEGRATED PROCUREMENT – A NEW WAY TO PROCURE

Eyvo

Every company has similar procurement processes that start by identifying the items required for their operational purposes, creating requisitions, issuing orders to the suppliers, receiving the goods and making the payments. Accounts without procurement. Integrated Procurement.

6 Things We've Learned from McDonald's Procurement Management

AFFLINK

In the foodservice industry, there are few better examples of great procurement management than McDonald's. Today's food industry supply chain operators would do well to learn from the excellent procurement management example that McDonald's has set.

3 Questions to Ask Before Developing Your Strategic Procurement Strategy

AFFLINK

There’s a tipping point where supply chain management is no longer enough: You need strategic procurement. Single-source procurement is efficient, but it’s also risky. Unclog the bottleneck with strategic procurement. Business is booming, and you’re enjoying explosive growth.

Procurement Technology: An Update from Spend Matters in Baltimore

NC State SCRC

Today I travelled to Baltimore to attend the ISM/Spend matters Global Procurement Tech Summit. I will be speaking on procurement analytics tomorrow, but got to attend a set of great sessions over the first half of the day. The first speaker was Anne Rung, Administrator from the Office of Federal Procurement Policy. Next up was Dan Carrell, Vice President of Global Procurement at IBM.

Five Predictions (About Prediction) that Every Procurement Professional Should Consider

Supply Chain View from the Field

As part of the conference, I’m delivering a talk on five predictions that every procurement professional should consider. These aren’t so much “predictions”, as opportunities that procurement professionals should become aware of, and educate themselves on. There are many different data resources that are potentially available to augment and create a rich set of metrics that can be used to drive insights and warning to procurement and senior management.

Siemens BT: Every analytical transformation requires a “Jonah Hill”

NC State SCRC

This effort was led by the Chief Procurement Officer for Siemens BT, Carl Oberland, but has recently been rolled out across the global organization. Every organization needs a “Jonah Hill”, someone who can cover data flowing in from human resources, legal, operations, and procurement.

Forecasting made easy for manufacturers with intelligent ERP software

OptiProERP

Forecasting helps businesses plan for future endeavors by evaluating historical data and analyzing trend patterns. Forecasting helps you create projections of expected demand. These are some of the reasons for the shortfalls of traditional forecasting. Intelligent Forecasting.

Unconstrained vs. Constrained Forecasting: Balancing Commercial Dreams with Reality

Unleashed

However, all the inventory management techniques and software in the world will not solve the problem if forecasting is not done appropriately. We then can appreciate unconstrained and constrained forecasting, where they both shine and how they affect inventory procurement. This is a generic and rather simplified view, however, if we take it further, we can group different activities in a company into the supply or demand boxes and can see how they affect our forecasting.