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Make Freight Sourcing More Efficient!

Supply Chain Game Changer

Do You Have Hidden Freight Costs? Freight sourcing team article and permission to publish here provided by Katharine Barrios at xeneta.com. Freight sourcing and procurement is a critical component of the whole supply chain and is crucial to the success of the business. Whether you are a BCO (Beneficial Cargo Owner), Freight Forwarder or NVOCC it is essential that you get this critical component right. Use of Freight Rate Benchmarking. Subscribe Here!

Inventory Optimization 101 – Smart & Effective Inventory Management

ThroughPut

What is Inventory Optimization? Inventory Optimization is defined as a method of balancing the manufacturers’ capital investment constraints and goals along with the defined service-level goals over a large assortment of stock-keeping units (SKUs) while considering all demand and supply volatility situations. It includes the practice of having the right levels of inventory to meet your target service levels while keeping a minimum amount of capital locked for inventory.

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Inventory Optimization 101 – Smart & Effective Inventory Management

ThroughPut

What is Inventory Optimization? Inventory Optimization is defined as a method of balancing the manufacturers’ capital investment constraints and goals along with the defined service-level goals over a large assortment of stock-keeping units (SKUs) while considering all demand and supply volatility situations. It includes the practice of having the right levels of inventory to meet your target service levels while keeping a minimum amount of capital locked for inventory.

5 ways ERP improves inventory visibility in your supply chain

OptiProERP

Inventory visibility is one of the critical aspects of any manufacturing business. It helps organizations understand how much inventory is available, at what location , and at any given point of time. To ensure inventory visibility, you should have access to view, manage, and update your inventory status from trusted software. What Improved Inventory Visibility does. Inventory ties up money. How ERP Improves Inventory Visibility.

Time to turn around inventory falls by two days says new report

EFT

Customer demands for faster and faster service are having an effect across the supply chain finds eyefortransport’s new D3 2019 report. The median time for retailers to move returns back to inventory ready for resale has fallen from 2017 to 2018, from a median of seven days down to five days. Increasingly retailers and manufacturers are looking at building distribution capabilities into more and more facilities and the sharing of inventory and fulfilment engines.

Time to Squeeze Carriers for Better Rates?

Talking Logistics

There was a deceleration in freight volumes during the second half of 2015 which continued into the first month of 2016. So, that tells me that the inventory situation continues to weigh on truck freight volumes. The Freight Transportation Services Index (TSI), which is based on the amount of freight carried by the for-hire transportation industry, dropped 0.4 percent in December from November , with December 2015 freight shipments down 2.0

Imagining the Supply Chain of the Future!

Supply Chain Game Changer

And consider forecast data, planning parameters, cost and price information, materials details and specifications, purchase orders (and all of the accompanying changes and updates), bills of lading, labels, inventory records, and much more. Any requests for specific analyses, charts, reports or even decision recommendations need only be asked of an Artificial Intelligence based engine that will provide all of that information in a rapid and highly optimized fashion. Subscribe Here!

Experts Choice Of Top Online Logistics Resources

Freightos

So I went straight to the source and asked consultants, trade reporters, Wall Street Journal reporters and others, what their go-to logistics and supply chain sources were. This is the experts’ selection – but if we had to choose just one, our go-to read is the fast-rising WSJ Daily Logistics Report. So much so that it is split into seven topics – aircrafts, airports, capacity and demand, carriers, freight trends, traffic and viewpoints. WSJ Reporter.

Supply Chain Movement 21 – S&OP + IT

Supply Chain Movement

In the last three years we’ve developed our strategy, centralised procurement, purchasing and manufacturing aligned our portfolios across all categories globally and developed our exclusive brands portfolio. 29 | Checklist Freight Spend Management. There are numerous ways a shipper can reduce freight spend. And freight costs are continuing to rise, pushed upward by factors such as globalized distribution and unpredictable fuel prices.

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Are These the 5 Biggest Fallacies in Supply Chain or is it Fake News?

Supply Chain Game Changer

Argentus is a boutique recruitment firm focused on Supply Chain and Procurement. Fallacy 4: Improved forecasting will always lead to lower inventory levels. He wants to challenge the assumption that better demand forecasts will always lead to lower inventory levels. For example, if a recession hits unexpectedly, demand will be way lower than expected and you’ll likely have tons of excess inventory. Subscribe Here! Email Address.

Capitalising on Supply Chain Digitisation with Robotic Process Automation – 10 Areas of Opportunities – LogiSYM August 2020

The Logistics & Supply Chain Management Society

Organisations that have successfully implemented RPA initiatives report cost savings of up to 80% and time savings of up to a staggering 40%. Procurement. Procurement can also have RPA do dynamic searches of websites to source or conduct market research for future buys and tenders.

How Machine Learning Is Redefining Supply Chain Management

IQMS

Key factors influencing inventory levels, supplier quality, demand forecasting, procure-to-pay, order-to-cash, production planning, transportation management and more are becoming known for the first time. Reducing freight costs, improving supplier delivery performance, and minimizing supplier risk are three of the many benefits machine learning is providing in collaborative supply chain networks.

Challenges in the Cannabis Supply Chain!

Supply Chain Game Changer

Blog post originally published by, and permission to publish here provided by, Argentus a boutique recruitment firm focused on Supply Chain and Procurement. According to a recent report in Procurement trade publication Spend Matters , these are some of the most booming categories in the burgeoning industry. In lots of growing cannabis companies, purchasing and inventory are still done on an ad-hoc basis. Subscribe Here! Email Address.

Intelleflex Announces Cellular, GPS-equipped RFID Reader & Cloud-based ZEST™ Data Services Platform

Supply Chain Network

To achieve full efficiency, the supply chain needs secure, accurate and timely data on the inventory status and condition of its products. In the majority of today’s cold-chain operations, data from condition monitoring is either nonexistent or requires hours or days to procure – making it inactionable. This model improves operational efficiency, reduces friction and waste in the supply chain, and improves inventory management, asset tracking and personnel monitoring.

Surviving Disruptions – an opportunity for supply chains to thrive with people and technology – LogiSYM July 2020

The Logistics & Supply Chain Management Society

As an offspring of globalisation, supply chains are focused on optimisation – cost reduction, just-in-time deliveries and tight inventory-to-sales ratios. A significant paradigm shift in procurement and inventory control is an emerging area of focus.

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Transforming the GCC Chemical Industry with Supply Chain Integration – LogiSYM September 2020

The Logistics & Supply Chain Management Society

2017 Facts and Figures report by Gulf Petrochemicals and Chemicals Association (GPCA), the chemical industry accounts for 3.1 Reported by GPCA, “China is one of the key destinations for GCC polyethylene exports. Following COVID-19 the global chemical supply chain market reported a severe decline in output. Realising operational and cost efficiencies will reduced lead times, improved forecast accuracy and increased inventory turnover.

Tips for Effectively Managing E-Commerce Logistics

Cerasis

Yet, as few as 33 percent of shippers have taken advantage of a transportation management system (TMS), reports Michael of Levans of Logistics Management. As a result, freight spend as a whole has increased, but passing this cost along to consumers will only serve to undermine the productivity and brand value gains through e-commerce. While using any TMS is a great way to help manage freight spend and logistics, the realm of e-commerce takes an extra level of finesse and care.

Top 5 Roadblocks to Effective Inbound Logistics Management

Cerasis

If your vendors do not understand your organization’s policies and procedures regarding inbound freight , how can they adhere to your needs? A Peerless Research Group (PRG) report indicated that up to 44 percent of supply chain entities do not actively have plans in pursuing or using a transportation management system (TMS), such as the Cerasis Rater. Approximately 54 percent of companies actively run metrics on inbound freight, but these metrics may be lacking.

The Top 6 Reasons to Have a Good Inbound Logistics Program

Cerasis

If other words, the costs associated with transportation of items from vendors make up the biggest portion of will transportation costs, reports Amy Roach Partridge of Inbound Logistics. In addition, you can use an inbound logistics program to reduce higher-cost shipments through freight consolidation and backhaul shipping, opening the door to even lower rates than you have previously negotiated with your carrier.

The Coronavirus Is Shattering Traditional Supply Chains

ivalua

A March 11 analysis by trading platform Forex.com claimed that nearly 75% of all companies had already reported supply-chain disruptions, with more than 80% believing that at some point they would experience impacts as a result of COVID-19 disruptions. And even if an order from an overseas supplier were to be filled, delivery issues would be compounded by the declining number of air and ocean freight options to move products into the U.S.

Drawing Lessons From Tesla’s Supply Chain Issues!

Supply Chain Game Changer

Argentus is a boutique recruitment firm focused on Supply Chain and Procurement. Then, in 2017, various press outlets reported on a number of issueswith the Model 3’s Supply Chain, specifically issues related to the vehicle’s battery design, as well as issues with manufacturing automation. Investors are growing restive, with the company’s share price down 6.8%, and the company reporting a $671.1 Argentus is a boutique recruitment firm focused on Supply Chain and Procurement.

The Top 6 Trends in Logistics Impacting Shippers in 2017

Cerasis

According to PLS Logistics , global companies will install procurement managers in China for entire organizations by 2025. To meet this increased demands, more manufacturing and logistics partners are looking for ways to shorten product lifecycles through improving inventory management systems, changing shipping strategies and altering the fundamental ways products move from point A to point B. The election is over, but the race is just starting for logistics providers.

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8 Ways Collaboration in Supply Chain Reduces Bottlenecks & Optimizes Results

Turvo

Used properly, collaboration enables better procurement, efficient shipment management, transparency, proactiveness, improved customer experience around delivery, and a team prepared to handle reverse logistics management. Sixty-five percent of procurement practitioners say procurement at their company is becoming more collaborative with suppliers, according to The Future of Procurement, Making Collaboration Pay Off, by Oxford Economics.”

TMS Delivers on NASSTRAC’s Five Common Sense Suggestions for Shippers

Supply Chain Collaborator

A recent NASSTRAC report revealed five common-sense suggestions for shippers navigating today’s disruptive operating environment. The hard-hitting new report from the National Shippers Strategic Transportation Council (NASSTRAC) is titled, “ Logistics 2030: Navigating a Disruptive Decade, Year 1 – Freight Transportation ” and it is full of powerful conclusions about what shippers are facing in the coming decade as the pace of technological advancement and change continues to accelerate.

The 4 Key Processes Enabled by a Transport Management System (TMS) in 2015

Cerasis

The latest transport management systems (TMS) available in the market do not stop in capability for data collection and reporting. Visibility : A TMS makes it easier for a logistics manager to have freight visibility along the way so that everyone involved, including the customer knows exactly where the shipments are at any time. Measurement : Most TMS have a logistics key performance indicator (KPI) reporting function that makes it easy to measure performance.

5 Supply Chain Mistakes that Handicap Business Performance

Logistics Bureau

Most of those costs will be generated within the supply chain but can remain invisible, or hidden within more general “cost of goods sold” accounting reports, where they constrain business performance by their very presence on the bottom line. Increases in obsolete and/or excess inventory. A Lack of Freight-cost Knowledge. B) Using the wrong carrier and paying more for your freight than you need to. Reduce freight costs.

Logistics Cost Reduction: 6 Focuses to Create More Profit

Cerasis

According to the CSCMP's "State of Logistics" Report from 2015, logistics costs now make up over 8% of the GDP. A cross-functional Material Review Board (MRB) will reduce the need for additional space by reviewing obsolete, non-moving and slow moving inventory monthly, and sending disposition recommendations to top management. A Transportation Management System (TMS) optimizes freight to utilize the most effective lanes and routes.

The Agile Supply Chain! Why Agility is Trumping Lean!

Supply Chain Game Changer

Unlike the lean supply chain, the agile supply chain uses real-time data and updated information, as reported by Martin Christopher in Industrial Marketing Magazine , to leverage current operations and real-time data against demand forecast, which helps to improve the overall efficiency and productivity of the given entity. Another key benefit of agility in the supply chain is focusing on avoiding potential shortages and eliminating excessively stocked inventory. Subscribe Here!

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Visibility, Analytics & Intelligence: Get full transparency on your supply chain, not just in times of crisis!

SupplyOn

It enables data from various internal departments, such as purchasing and procurement, to be linked (even cross-plant) with external data sources, like SupplyOn Services or freight forwarding systems. A multitude of analytics Even more important than the search for causes is the analysis of how current disruptions impact the supply chain, e.g. causing a delay in delivery: Is my inventory still sufficient to ensure production or do I need to replan?

This Week in Logistics News (April 4-8, 2016)

Talking Logistics

MercuryGate Launches Global, Omni-modal Freight Procurement Solution. As reported by Robbie Whelan in the Wall Street Journal : Stifel last week released a report targeting the entire truckload industry, writing that “pricing pressure is rampant in the generic freight market,” which includes most types of trucking services, while railroad carload pricing and freight rates among parcel carriers are on the rise.

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10 Ways Effective Transportation Management Drives Competitive Advantage

Cerasis

Transportation management is no longer a tactical approach to simply moving freight and doing it at the lowest possible cost. As we head towards what many experts are citing as a 2017 carrier capacity crisis and growing demands from consumers to keep them happy call for shorter delivery cycles, the traditional strategy of procurement cost saving and shipment consolidation opportunities have to be supplemented through innovative solutions, to deliver the best bang for the buck.

Top 15 Logistics Blog Posts of 2014

Cerasis

To that end, every warehouse manager’s role is to manage the physical environment, loadshifting equipment and people, to decrease the chances of collision and accidents, and often, to help the flow of freight via outbound and inbound freight management; an entire process known as warehouse traffic management. The Ultimate Guide for Effective LTL Freight Management : we put on a 60 minute webinar entitled, “Best Practices for Effective LTL Freight Management and Shipping.”

Why investors are looking at supply chain technologies in 2020

Requis

Insiders joke (quite fairly, as it turns out) about billion-dollar procurement-management-disposition cycles that are managed in spreadsheets. In the procurement space, what I want to be able to assess is risk management.

Where Do the Savings from Managed Transportation Services Come From?

Talking Logistics

The technology streamlines planning and execution while also collecting data to be leveraged for detailed analytics, reporting on a company’s supply chain efficiencies and effectiveness. Freight consolidation is a key area where transportation costs can be reduced. Inventory pooling increases the amount of product picked up at a location to decrease the number of stops to both drive cost out of the supply chain while increasing service levels. Targeted Procurement.

Reverse Supply Chains: Best Practices for Better Asset Recovery

Cerasis

This excess of inventory can often pose as a problem when companies already have a long list of issues to tackle to remain relevant in the market. Such tools, like the Cerasis Reverse Logistics product , which is newly released, allow an employee to procure and dispose of surplus product from more than one location. Twitter Facebook Google+ LinkedIn The post Reverse Supply Chains: Best Practices for Better Asset Recovery appeared first on Freight Logistics Company | Cerasis.