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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.

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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Omnichannel Retail Requires Close Collaboration with Logistics Providers

Enterra Insights

The next time you feel the need to toast someone, raise your glass to all the supply chain professionals involved in omnichannel retail operations. John McAteer, Vice President of Sales, Retail, and Technology at Google, writes, “In retail, there’s no space for standing still. Empowered by mobile, people can get exactly what they want instantly and effortlessly, and they expect retailers to meet their needs faster than ever before.”[1]

3D Printing Set to Streamline the Retail Supply Chain Through Reduced Lead Times and Inventory

BluJay Solutions

Yet the potential for manufacturers and retailers/distributors to streamline and simplify production and distribution processes as well as increasing the possibilities for customization of products is clear, and media and industry interest in how to harness this technology to drive innovation is gathering pace. The attractiveness of 3D printing for manufacturers and retailers/distributors centers around reducing both lead times and the risks involved in holding inventory.

Overcome Foodservice Disruptions: Focus on Technology, Service Networks, and Transportation

CH Robinson Transportfolio

Accordingly, carriers are selective about freight. Overly complex or challenging freight needs are passed over in favor of simpler freight. The sheer amount of data involved in managing inventory can seem staggering without the proper technology in place to process it all.

Supply Chain Predictions!

Supply Chain Game Changer

Check out Procurement Experiences, Trends and the Future! In the book, The Living Supply Chain , the authors argue that, “Speeding up the supply chain is at the root of everything that is good: improved revenue, reduced working capital, higher profitability, and less obsolete inventory. Kuebix TMS offers full tracking and visibility of your freight expense down to the SKU level across every mode and along every step of its journey. Subscribe Here! Email Address.

The Invaluable Role of a TMS in Managing Full Truckload Shipments

Cerasis

Shippers face more challenges than ever before when it comes to managing freight spend and allocation. While many other questions exist, freight management in today’s world is built on the internet, speed, use of data, and staying attractive to drivers. Yes, your freight must be attractive to drivers to get the best deals, and a TMS provides an invaluable means of creating attractive freight. The Freight & Transportation Management Trends to Know in 2018.

3 Best Practices to Improve Your Flatbed Shipping Performance

CH Robinson Transportfolio

Flatbed shipping is an important contributor to the overall economy as several key industries leverage this solution for the movement of their critical freight. And, accordingly, each industry procures and manages capacity differently to navigate these challenges and drive positive outcomes.

Are We Facing the End of Supply Chain Management?

Supply Chain Game Changer

Blog post originally published by, and permission to publish here provided by, Argentus at [link] , a boutique recruitment firm focused on Supply Chain and Procurement. The HBR article outlines an interesting development: more retail and manufacturing companies are adopting “digital control towers” for their supply chains. Companies will always need people who can build relationships with vendors when conducting large-scale Procurement. Subscribe Here! Email Address.

ThankX Delivery Services!

Supply Chain Game Changer

Inventory is held and procured from local corner stores, delis, pharmacies (CVS) and larger entities (such as Giant, Whole Foods, etc.), While this is primarily a delivery (via procurement) service , ThankX does not buy products unrelated to its express deliveries.

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

EFT

Indicative of this is the falling time retailers are taking to get returns back into their stock. 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.

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. SCM #SupplyChain #Cannabis #Retail #Marijuana. Subscribe Here!

Space Planning: Could You Run Out of Space in Your Warehouse too?

Supply Chain Game Changer

For excess inventory that was not needed for initial replenishment and product availability we would keep goods in trailers in the parking lot. Next we worked to accelerate allocation and replenishment to retail stores. Omnichannel #Retail #SupplyChain #SCM #ECommerce #Distribution #Logistics. Selected as one of the Top 75 Supply Chain Blogs, and one of the Top 25 Procurement Blogs, on the Internet. Subscribe Here! Email Address.

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Is it time to integrate your supply chain design with execution?

JDA software

its inventory management and where and how well it deploys inventory to optimize customer service levels and profitability. its transportation management and how well it continually procures, plans, executes and monitors freight. Inventory management. Likewise, operational considerations like optimized inventory management have never been more important. Supply Chain inventory management network design supply chain design transportation management

Inspirational Supply Chain Quotes

Supply Chain Game Changer

I made two interesting discoveries: The components were all manufactured by other companies, and the system that retailed for $3,000 cost about $600 in parts.” ~ Michael Dell. Bottlenecks govern both throughput and inventory.” ~ Eliyahu M. Freight and Logistics Guest Blog Post Procurement Supply Chain Management Leadership Quotes SCM supplychain supplychainmanagementSubscribe Here! Email Address. Article originally published and provided by [link].

How to Get a Job in the Supply Chain Sector

Logistics Bureau

It touches many departments, from production, procurement, shipping, accounting, and finance to marketing, warehousing, research and development, and sales. They also need to keep a check on inventory levels and identify obsolete stock. Manage inventory levels.

Supply Chain Management:Retailer Multi-Channel Operations.

Infosys Supply Chain Management

Retail. Sourcing & Procurement. Sourcing & Procurement. ProcureEdge – Sourcing & Procurement. » Retailer Multi-Channel Operations Capabilities Get an Early Test in the 2011 Holiday Buying Season. Today is Cyber Monday and we provide our first update to our previous commentary on how retailer multi-channel operations (MCO) capabilities will be challenged in the current 2011 holiday buying season. Procurement Blog. About Us.

Keys to a Successful Dropship Implementation

Talking Logistics

Omni-channel retailers and manufacturers/distributors require agility to compete and thrive in an industry that is ever-changing due in large part to the Amazon Effect. Retailers are adapting their network for an omni-channel approach to enhance their customer experience and offer a wider online product assortment, which can include enabling vendors to dropship on their behalf. This process can be a win-win for both retailers and manufacturers/distributors alike.

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Experts Choice Of Top Online Logistics Resources

Freightos

So much so that it is split into seven topics – aircrafts, airports, capacity and demand, carriers, freight trends, traffic and viewpoints. With over 60,000 monthly viewers, Transport Topics is a prime destination for freight buffs, especially those who specialize in trucking. 150 years of Lloyd’s helps back this new website, which includes frequently updated information on freight and shipping information. Ocean freight is split into 14! Freight Dawg.

Our Top 10 Blog Posts … So Far!

Supply Chain Game Changer

World Class Inventory Turnover Breakthrough (Infographic). Inventory Management is a critical element in running an efficient Supply Chain. World Class Inventory Turnover Breakthrough (Infographic). Freight and Logistics – Do you have Hidden Freight Costs? Do you have hidden Freight costs? Here we discuss many of the signs and potential areas of freight costs that may not be readily visible to you. Subscribe Here! Email Address.

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

The Logistics & Supply Chain Management Society

Procurement. Procurement can also have RPA do dynamic searches of websites to source or conduct market research for future buys and tenders. Inventory Management. Regardless of how efficient and effective, all supply chains carry inventory. Freight Management.

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.

5 Ways to Prepare Your Supply Chain for an Efficient Holiday Rush

OneSCM

Despite worries over trade tariffs, consumers are in good financial shape, as the National Retail Federation forecasts holiday retail sales will grow between 3.8 A highly functional supply chain has increased visibility of freight, location of products, and inventory. Real-time visibility is vital during hectic periods of activity and can assist in ensuring suppliers deliver on time, reduce inventory and mitigate risk. Ready or not, the holidays are coming.

Is it time to integrate your supply chain design with execution?

Supply Chain Nation

its inventory management and where and how well it deploys inventory to optimize customer service levels and profitability. its transportation management and how well it continually procures, plans, executes and monitors freight. Inventory management. Likewise, operational considerations like optimized inventory management have never been more important. Supply Chain inventory management network design supply chain design transportation management

13 Amazing Logistics & Supply Chain Mobile Applications

EazyStock

These apps help companies achieve every business process from tracking inventory and shipments to booking meetings with clients to tracking tasks and projects. EazyStock – Inventory Optimization Software. With easy API integrations with any Enterprise Resource Planning (ERP) tool, inventory managers can automate procurement and replenishment processes that historically were guesswork cutting into profit margins.

More than storage: What warehouse services can a 3PL provide?

Kanban Logistics

The driver is early to a retailer appointment. Most retailers will not accept early deliveries. The 3PL will then make the final delivery to the retailer, while the original driver moves on to his next load. The driver misses a retailer appointment. retailers).

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

Cerasis

Editor's Note: As of late you may have noticed we have written a lot about procurement and the future of procurement. A large part of procurement is finalizing the contract and then the follow through of the determined deliverables in that agreement. The next step in procurement is then managing vendors and keeping service providers accountable for continued improvement. For example: Inventory Record Accuracy has to be 98-100% accurate daily.

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Streamline your Entire Distribution Centre or Warehouse at One Time!

Supply Chain Game Changer

They were going to take the Holistic approach (see our Blog Inventory Turnover Breakthrough (Part 1) … Go Back To The Basics! Check out Global Process Excellence (Part 4) – Introducing Lean In Retail … Start in the Backroom! Selected as one of the Top 75 Supply Chain blogs, and one of the Top 25 Procurement blogs, on the Internet. Subscribe Here! Email Address.

The Coronavirus Is Shattering Traditional Supply Chains

ivalua

Retail shops and eateries everywhere saw their business drop off precipitously. 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. A retailer will have empty shelves. If the disruption continues, we may see many manufacturers, and maybe even retailers, suspending their operations as they run out of the key inputs they need.”.

Top Talking Logistics Posts & Episodes (Q1 2019)

Talking Logistics

Even our most popular post, which dealt with excess inventory and yard management, had a transportation bent to it. Excess Inventory? Visibility and Collaboration in Transportation Management [Video] The Digitization of Freight.

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The Transportation Supply Chain: Transportation’s Role in Supply Chain Management to Lower Total Costs

Cerasis

This requires a new broad look at the business of transportation supply chain, including supply chain management, logistics, & procurement. Freight transportation costs in the United States amount to about 6% of the GDP, which means that a large portion of a company’s supply chain costs come from transportation. When freight costs are high, even seemingly small oversights can result in unneeded expenses that could have been avoided and thus cut into overall profit margins.

The Top 6 Trends in Logistics Impacting Shippers in 2017

Cerasis

From Amazon to hyper-local retailers, 2017 will be a year of intense scrutiny and pressure on logistics providers. According to PLS Logistics , global companies will install procurement managers in China for entire organizations by 2025. This has always been true in retail, but the power of consumers has grown with the rise of the digital age. Amazon’s unsurpassed capability in logistics has stimulated a barbell effect among manufacturers and retailers.

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Why Blockchain Within The Supply Chain Makes Perfect Sense

Cerasis

This newfound visibility allows participants in a supply chain to proactively optimize components of their processes (like inventory management, staffing decisions, and a thousand more) to support an efficient and agile product path. Outcomes: improved inventory management; More accurate determination of re-order points; Better on-shelf availability. Outcomes: reduction in delays/human error in paperwork, visibility into procurement, international compliance.

Aborn & Co. promotes Chris Peckham to Vice President of Operations.

Aborn and Co.

Aborn & Company, the freight management solution, announced today that Chris Peckham has been named as Vice President of Operations for the company. Chris was Director of Supply Chain at SharkNinja where he was responsible for procurement, inventory management, and new product development.

Ryder Use Case: Why Digitizing the Order to Cash Process with Turvo Makes Supply Chains More Efficient

Turvo

They must manage inventory in their facilities, in the yard, in transit, and in third-party retailers that have lines of credit with the company. These might not seem like major hurdles, but each item represents a higher cost for managing inventory and adds to inefficiencies. However, digitizing the process could allow for better inventory responsiveness and planning to reduce the cash-to-cycle. Digitization remains a concept escaping most of the supply chain.