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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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How to Lower Your Ocean Freight Costs!

Supply Chain Game Changer

Do You Have Hidden Freight Costs? Ocean freight article and permission to publish here provided by Katherine Barrios at xeneta.com. Freight forwarders and shippers/BCO s are on a constant quest to have a better understanding of their ocean freight costs and ultimately have larger margins. Freight costs are considered by many forwarders and shippers to be a major part of their total shipment cost. Here are 15 tips for lowering ocean freight costs.

Cargo 53

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.

Ship Smarter: How to Avoid Bottlenecks in Your Global Operations

ThroughPut

You can’t just turn around a giant cargo ship. And when shipping to volatile countries, it becomes even harder. companies with global operations, one of the most effective ways to mitigate risk is to ship smarter. Once cargo has shipped, there are no “backsies.” This is why supply chain managers are always stressing over demand forecasts — something that tops the list of most critical inventory management practices. Shipping Overseas.

Ship Smarter: How to Avoid Bottlenecks in Your Global Operations

ThroughPut

Ship Smarter: How to Avoid Bottlenecks in Your Global Operations. You can’t just turn around a giant cargo ship. And when shipping to volatile countries, it becomes even harder. companies with global operations, one of the most effective ways to mitigate risk is to ship smarter. Once cargo has shipped, there are no “backsies.” And considering that our international tariff laws have been more dynamic in the past three years, shipping U.S.

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.

Is Your Supply Chain A Cost Centre or a Value Creator?

Supply Chain Game Changer

From planning to negotiating to buying, from moving goods to processing goods, and from managing data to managing inventory. The Cash Cycle is a function of the days of Accounts Receivable, Accounts Payable, Inventory and Capital Expenditures. The Supply Chain is directly responsible for the payment terms for Accounts Payable, Inventory (this does vary between companies), and even the negotiated terms for Capital purchases. Subscribe Here! Email Address.

The Pros and Cons: International and Domestic Sourcing

Unleashed

Low-cost country sourcing is a procurement strategy that falls under a broad category of procurement efforts called global sourcing. Shipping costs. While shipping is a fairly economical method, the overall cost analysis of low-cost country sourcing and domestic sourcing is critical to the overall cost equation. Sourcing internationally can create a complex supply chain that complicates your inventory? ?control

The Disintermediation of the Supply Chain!

Supply Chain Game Changer

Most definitions of disintermediation characterize it as the elimination of intermediaries, or “ cutting out the middleman “ Further consider that the “Wastes” associated with Lean thinking and principles include transportation, inventory, over production and motion amongst others. For every node of the supply chain this means that there is transportation, movement and handling, inventory, and production and over, or under production. Subscribe Here!

3 Technology Companies Disrupting Shipping

FLEXE

The speakers cover everything from air and ocean freight to trucking and warehousing. I’m Nerijus Poskus — Director of Pricing and Procurement at Flexport. Basically, responsible for ocean freight carriers, ocean ships that rely on truck companies. Nerijus: Flexport is a technology-enabled freight forwarder. Flexport is a freight forwarder that allows clients to make better decisions. More than half of Hanjin’s ships were chartered.

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. You can uncover roadblocks within your supply chain that could lead to delays in shipping. SCM #SupplyChain #Business #Leadership #Logistics #Distribution #ECommerce #Retail #Freight #TMS.

Top 10 Global Supply Chain Risks

Supply Chain Game Changer

Inventory Turnover Breakthrough … Go Back To The Basics! Risks exist in land, air and ocean freight. Poor grasp of hazards in your supply chain will increase freight spend and diminish brand value. For instance, the bankruptcy of South Korea’s 7th largest shipping company (Hanjin Shipping) led to a dramatic reduction in global supply chain shipping capacity. Procurement departments must take the full burden of ensuring supplier consistency.

It’s Time to Welcome The Supply Chain CEO!

Supply Chain Game Changer

Argentus is a boutique recruitment firm focused on Supply Chain and Procurement. Over the past few decades, companies have realized that the way they bring products to market – from sourcing parts and services, to manufacturing, to shipping, to distribution – isn’t just a practical necessity, but an avenue for competitive advantage. Whereas different Supply Chain functions used to be siloed (planning, operations, procurement, etc.), Subscribe Here! Email Address.

IMO 2020 is Here. Are You Ready?

Supply Chain Game Changer

The ships now have to reduce their Sulphur emission by over 80% – 85% by switching to Lower Sulphur Fuel. Due to the high level of pollutants in the exhaust of the bunker currently used to power some 60,000+ ships globally, the IMO is going to implement a new regulation regarding these fuels on January 1, 2020. Ships and carriers use heavy fuel oil that contains Sulphur. The ships use the lowest grade of fossil fuel today. Subscribe Here! Email Address.

Ways to think about the Supply Chain of the Future: Artificial Intelligence

Techgistics

Business Intelligence applications took this a step further which resulted in vastly improved inventory and demand planning practices. And, instead of a human reviewing the results and making a decision on production or inventory levels, the AI could do that automatically and replan in real-time based on those predictions. Amazon autonomous cars e commerce last mile logistics robots Same Day Delivery self-driving cars Shipping startup supply chain Uber machine learing

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

Keys to a Successful Dropship Implementation

Talking Logistics

Manufacturers and distributors are looking to expand their sales channels and get more of their brands in the hands of customers to generate loyalty, which can mean drop shipping on behalf of retailers looking to expand their product assortments. This will increase the customer’s product and shipping options. It is possible, but it would be a very manual process, with many emails and spreadsheets sent between procurement and vendors.

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Imagining the Supply Chain of the Future!

Supply Chain Game Changer

Techniques such as drop shipping and full case fulfillment and replenishment eliminate several handoffs and touches throughout any Supply Chain. 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. supplychainmanagement #supplychain #scm #futurism #procurement #logistics #technologytrends.

Tips for Effectively Managing E-Commerce Logistics

Cerasis

According to Roberto Michel of Logistics Management , the biggest challenge in e-commerce logistics revolves around the demand for additional last-mile delivery options and next-day shipping, if not same-day shipping. 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. Offer multiple shipping options to consumers.

Bring Out the Best in Your Supply Chain

Kinaxis

Professor of Supply Chain Procurement at Rutgers University), the article discusses some key traits held by the best supply chain managers. In a crisis like this, Azadegan says “jobs, inventory, and profits are at stake, and beyond that, suppliers, customers, communities, and families of employees etc. International Motor Freight (a drayage carrier) lost 130 brand new trucks, and couldn’t ship anything out. Inventory management Miscellanea Supply chain management

The Supply Chain Game Changer Job Board!

Supply Chain Game Changer

It includes functional areas such as Procurement, Purchasing, Freight, Logistics, Planning, Material Handling, Inventory Management, Cash Flow Management, Quality Management, Diversity, Customer Support, Systems Design and Deployment, Business Process Engineering, and Business Management. The Truck Driver shortage is a reality (read The Current State of the Shipping Capacity Crunch! ). The Hottest Jobs in Supply Chain and Procurement! Subscribe Here!

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

BluJay Solutions

The attractiveness of 3D printing for manufacturers and retailers/distributors centers around reducing both lead times and the risks involved in holding inventory. Anyone involved in retail procurement is acutely aware of the importance of correctly predicting consumer/end-user requirements and ordering the right goods at the right time, in the right quantities. Our January blog post 3D Printing: Supply Chain Game Changer or New Risk for LSPs?

Experts Choice Of Top Online Logistics Resources

Freightos

Shipping Gazette Daily News. One of the most comprehensive daily summaries, and by far the leading Asian-based summary, China’s Shipping Gazette provides daily information about carriers, forwarders and technology. So much so that it is split into seven topics – aircrafts, airports, capacity and demand, carriers, freight trends, traffic and viewpoints. Since 1974 with industry-leading expertise in, well, American shipping. Ocean freight is split into 14!

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

OneSCM

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. A prudent way to cut down on shipping costs is to consider Less Than Truckload (LTL) shipping versus Full Truckload. Amazon is changing the game by outsourcing its inventory management.

5 Quick Solutions for Simplifying Supply Chains

Unleashed

In an attempt to get back to supply chain basics, companies need to scrutinise their processes, from procurement through to storage and shipping. Sure, data is king when it comes to helping forecast future demand and inventory stock needs but the ability to collect data is not always supported by the ability to filter and manage that data correctly. Leverage the right technology to optimise shipping via software systems that link shippers, supply chain partners and carriers.

Transpacific Air and Ocean Shipping Space Is Already Tight

CH Robinson Transportfolio

Transpacific Air and Ocean Shipping Space Is Already Tight | Transportfolio. Unfortunately, it’s the best way to describe what is happening right now in the air and ocean freight markets. Peak shipping season has heated up early. A predictable pattern of events follows: shipping volumes spike, space on airlines and vessels becomes harder to secure, and prices go up. The holiday peak season is one of the busiest shipping periods of the year around the world.

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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.

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. Intelleflex’s new CMR-6100 cellular reader and data services are a remarkable advancement in condition monitoring of fresh, frozen and packaged foods – as well as pharmaceuticals,” said Jack Sparn, CIO of iGPS, a provider of intelligent, cost-efficient pallet-based shipping solutions and an Intelleflex partner. “In

Inbound logistics requirements for the new automotive supply chain

The Network Effect

In my last four posts, I talked about order aggregation , new inventory replenishment policies , why a network model makes so much sense , and the all important ASN. Earlier we discussed the fact that the “procure to pay” business transaction cycle includes transportation events such as tendering, pick up, in transit, dock scheduling and deliver along with full track and trace. SMMT/Ltd Flickr.

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

How to Determine if Your Distribution Fulfillment Strategy is Working

Veridian Solutions

This is important for reducing order fulfillment errors, improving your inventory management and remaining competitive. Poor replenishment and reordering of inventory. Limited visibility in procurement. Higher freight spend. Key indicators that your strategy is working include: Strong, Lean Inventory. A strong inventory is a benchmark for a working distribution fulfillment strategy. Without inventory, your strategy is immediately on the back foot.

What’s Looming for Transpacific Ocean Shipments this Peak Season?

CH Robinson Transportfolio

Reoccurring events—like the holiday season—used to provide some level of predictability to ocean shipping trends in the transpacific eastbound (TPEB) trade lane. As many shippers front-loaded inventory in the second half of 2018—especially the fourth quarter—to avoid potential tariff increases, the market saw drastic volume increases beyond what we’ve come to expect from years’ past. Higher inventories to avoid tariffs. Have a plan for freight once it reaches port.

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.