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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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The Top 6 Trends in Logistics Impacting Shippers in 2017

Cerasis

Fortunately, your organization can get ahead of the learning curve by knowing what trends in logistics to watch for this year. The Top 6 Trends in Logistics Impacting Shippers in 2016. According to PLS Logistics , global companies will install procurement managers in China for entire organizations by 2025. Meanwhile, the use of Big Data will empower new fleets and freight optimization and consolidation measures, and the IoT will provide new insights.

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10 Commandments of Inventory Management

Supply Chain Opz

Inventory management is one of the most important tasks for supply chain management professionals. However, most inventory control theories are too complicated or too difficult to apply to real world situations. Then, this article will show you 10 simple principles that you can use to streamline your inventory management practices right away. 3) Forecast at the right level Standard inventory management textbooks suggested that forecast be done at a product family level.

Integrated Supplier Management Boosts Performance

QAD

As a result, improved integration and connectivity between manufacturers and suppliers is increasingly important to avoid premium freight costs, missed shipments and subpar supplier relationships. . Excessive premium freight charges to meet customer delivery expectations.

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.

10 Inventory Management Hacks You Can Do in 10 Days

Supply Chain Opz

Inventory management is one of the most important tasks for supply chain management professionals. However, most inventory control theories are too complicated or too difficult to apply to real world situations. Then, this article will show you 10 simple principles that you can use to streamline your inventory management practices right away. 3) Forecast at the right level Standard inventory management textbooks suggested that forecast be done at a product family level.

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.

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

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.

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. Advanced analytical systems use the data to uncover trends that lead to performance improvements and cost reductions. Subscribe Here! Email Address.

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. Picture an airport control tower, but for supply chain management: staffed 24/7, full of large screens full of 3d graphical representations of potential bottlenecks and inventory shortfalls all the way from order to delivery. Argentus is a boutique recruitment firm focused on Supply Chain and Procurement.

Does Canada Need a Chief Logistics Officer?

Supply Chain Network

All of the above types of services could also benefit from closer scrutiny and elimination of redundancy, standardization and joint procurement activities and practices. Additionally as the 4PL or LLP role is for the most part data collection, analysis, planning and co-ordination, post analysis it does not preclude normal procurement methods being utilized preserving marketplace competition.

[INFOGRAPHIC] Expert Reveals 7 Supply Chain Trends to Watch

Cerasis

Look at these 7 supply chain trends as a guide to better your supply chain today. In this article, Professor Burcu Keskin from University of Alabama will share 7 supply chain trends that working professionals should watch. INFOGRAPHIC] 7 Supply Chain Trends as Laid out by Supply Chain Expert. Within this context, a number of supply chain trends have been gaining attention: 1) Customer-driven supply chains. All of these aspects impact procurement processes.

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Gartner’s 2018 Top 25 Supply Chains List! Is it Still Relevant?

Supply Chain Game Changer

Check out 5 Trends in the Gartner Hype Cycle for Emerging Technologies. I always find it interesting to see the list, to see who came out on top, and to hear what their views are on prevailing trends. Inventory Turns 3. (10%). Return on Assets (ROA) and Inventory turns are also a part of the scoring process. There is no question that the Supply Chain of any business usually has a significant impact on ROA and certainly on Inventory turns. Subscribe Here!

Commodity (or Category) Management – What is your Buying Strategy?

Supply Chain Game Changer

Check out What Exactly Is Procurement? A well constructed Procurement Strategy will raise the value of the Supply Chain to your company. “Commodity Management” may also be referred to as Category Management, Strategic Procurement or Merchant Management for instance. I use the term Commodity Management to represent the strategic procurement of materials regardless of what specific industry or company vernacular you may use. Subscribe Here! Email Address.

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. The article, written by Shay Scott of the Global Supply Chain Institute, describes how the trend of Supply Chain Professionals rising to the CEO position at major companies is only increasing. And Tim Cook’s rise to CEO, in large part, is owing to his transformation of the company operations starting in the late 90’s, reducing inventory and costs, and developing the country’s overseas supplier base.

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

EFT

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. of retail respondents report that their average time to restock returns is three days or less, marking out a clear focus on agility of inventory that can accommodate a more e-commerce-centric environment and a higher returns volume. . Gabi Weisel, Director Global Indirect Procurement, Estée Lauder.

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.

The 6 Trends Third Party Logistics Service Providers Will Drive to Empower Shipper Success in 2017

Cerasis

Take a moment to think about how these remaining six trends will impact the shipping and freight industry as a new administration takes control. Online sales grew 12 percent in 2016, and growth is forecasted for 2017, reports Ludger Schuh of the Inventory and Supply Chain Blog. Thus, management teams must have access to immediate freight and shipping rates and information, allowing better consolidation and optimization of incoming and outgoing shipments.

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.

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. Supply Chain & Logistics Trends managed transportation services supply chain visibility TMS transportation management

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Experts Choice Of Top Online Logistics Resources

Freightos

UK-based logistics website with exceptional content and unique opinion pieces, often centered around shifting technology trends. So much so that it is split into seven topics – aircrafts, airports, capacity and demand, carriers, freight trends, traffic and viewpoints. Expect great trends pieces, as well as a focus on US domestic political and economic processes, that redefine the supply chain. Ocean freight is split into 14! Freight Dawg.

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?

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. A new article in Forbes , “The Biggest Supply Chain Fallacies,” by Supply Chain researcher and beat writer Steve Banker, challenges a few of the assumptions underlying these trends, and calls out some of the conventional wisdom that’s taken hold in the field. Fallacy 4: Improved forecasting will always lead to lower inventory levels. Subscribe Here! Email Address.

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

The Logistics & Supply Chain Management Society

Exposing supply chain vulnerabilities and fast-moving trends. Supply chain trends and practices today, are mainly driven by cost optimisation and lean strategy. A significant paradigm shift in procurement and inventory control is an emerging area of focus.

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This Week in Logistics News (October 8-12, 2018)

Talking Logistics

I have to go to the grocery store again today to replenish our inventory (yeah, I don’t shop for groceries online; as the son of a bodegero, I’m old fashioned that way.). Transplace Acquires Yusen Logistics’ Intermodal & Freight Brokerage Group. Freight trucking startup Shipwell gets a $10 million boost (TechCrunch). Transplace Acquires Yusen Logistics’ Intermodal & Freight Brokerage Group.

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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The Future of Logistics—20 Trends to Follow in 2017

FLEXE

As you begin to prepare for the coming year, FLEXE has identified 20 logistics trends that can be expected in 2017: 1. In 2016, we saw this with Unilever’s partnership with technology startup Convoy—an on-demand freight business. Examples include everything from enterprise resource planning (ERP) solutions and factory communications to freight forwarders and forecasting and inventory management software. Blog Supply chain trends Disruptive technology supply chain

6 Things to Consider as You Plan Your 2016 Budget

Talking Logistics

The bunker has been trending on the low side and is expected to continue this way through 2016—good news for ocean carriers, as bunker fuel is by far one of their largest operational costs. oil production and lack of cohesion from the Organization of the Petroleum Exporting Countries (OPEC), the trend allows carriers with scale to compete based on price more effectively than when bunker is trading higher. The start of a new year means budget planning is likely back on your agenda.

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The Top 10 Supply Chain Blog Posts from 2017

Cerasis

Today, is day two of our annual year-end series highlighting the top blog posts in each of our 5 main categories: Manufacturing , Supply Chain , Logistics , Transportation Management , Freight. This year, most were interesting in supply chain optimization - from distribution to inventory management - and Key Performance Indicators. e-Book] The Digital Supply Chain: The Landscape, Trends, Types, and the Application in Supply Chain Management.

This Week in Logistics News (May 7-11, 2018)

Talking Logistics

Freight Operators Dismiss Threat of Digital Startups (WSJ – sub. Robinson launching a trans-Eurasian rail freight service between China and Europe. It is for freight that requires faster transit times than ocean, at twice the speed, with substantial savings over air,” said Mike Short, president, Global Forwarding at C.H. 3PL Supply Chain Technology Trends This Week in News Transportation Management Transportation Management Systems blockchain C.H.

Smart Supply Chains Adapt to Overcome COVID-19 Challenges

Logistics Bureau

The US auto industry is expected to follow suit as stockpiled inventory becomes depleted. These smart operators include: John Deere: The agricultural vehicle manufacturer says it expects to spend $40 million (USD) on expedited freight to ensure there is no disruption in supply. In the future, businesses will diversify their supply chains and source locally so they are not as dependent on one procurement source as they are now.

Strong Supply Chains Required For an Economic Rebound: Six Steps To Take

Supply Chain Shaman

This cross-functional group (sales, procurement, manufacturing, and distribution) is an operational team to manage the day-to-day issues and exceptions in the supply chain. Model Local Market Trends. Border crossings will be tough, and the infrastructure for the ocean and air freight tumultuous. Instead, use demand sensing technologies to detect patterns with minimal latency into inventory requirements. Evaluate Inventory. Evaluate inventory health weekly.

Logistics Operations Forecasting- Are you doing it right?

ThroughPut

Seasonal Planning – Seasonal demand is a trend that tends to stay consistent from year to year. Buyer Trend Analysis – Market demand can vary depending on what is needed by consumers at that point in time and this happens without prior warning. What is Logistics Forecasting?