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Improving inventory management

EFT

Factory closures, blank sailings, massive cuts to air freight, reduced warehouse capacity and more have hit business-as-usual and often turned carefully calibrated chains on their head. I believe that you're going to see sustained push to e-commerce. Inventory management, evolved.

Vendor Managed Inventory Model for Supply Chain Cost Reductions

Cerasis

As a supply chain expert and value creation supply chain consultant myself, I believe I have identified some core areas that will lead to desired supply chain cost reductions that are both sustainable and realized quickly. Below I will outline how a vendor managed inventory model, in conjunction with reverse marketing, value analysis, and collaboration will achieve supply chain cost reductions. Vendor Managed Inventory Model for Supply Chain Cost Reductions.

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Supply Chain Scope: New Study Shows Rise in US Inventories; California Estimated to Improve Freight Efficiency by 25% in 2030

Arkieva

A new study by the SupplyChainDigest analyzing the main components of working capital: Days Sales Outstanding (DSO), Days Inventory Outstanding (DIO), and Days Payables Outstanding (DPO) revealed an uptick in DIO. Sustainable Freight Action Plan for California is estimated to Improve Freight Efficiency by 25% in 2030. Targets for 2030 Include: Improve freight system efficiency 25 percent by 2030. California Sustainable Freight Action Plan.

Supply Chain And Logistics Trends That Could Be Big In 2020

Logistics Bureau

Instead, it continues, to include the entire lifecycle of a product, from sourcing of raw materials, to the return and recycling of the product, and reintroduction of recycled materials into the manufacturing or production process. Again, this might include recycling or refurbishing items damaged in storage or transit, or placing undamaged returns back into a sales inventory. It’s time to start looking ahead again.

Supply Chain and Logistics Predictions for 2016

Talking Logistics

How will transportation, inventory, and sourcing policy decisions change in light of this cheap oil environment? Like oil prices, interest rates impact supply chain policies and decisions, especially with regards to inventory. Will interest rates continue to climb in 2016, and if so, what impact will it have on inventory levels? Sustainability : Will the climate change agreement reached at the COP21 meeting in Paris this past weekend change supply chains in 2016?

Is Hyperloop the Next Great Supply Chain Technology?

Kinaxis

The idea of tubes whisking freight across the land at near-supersonic speeds smacks of an old-school image of the future. The fact that the CEO of the company leading the Hyperloop charge is committed to it being a freight transportation technology first, is pretty telling in our eyes: obviously, if it can ship freight, the Hyperloop project might have tremendous implications for the Supply Chain field, which (in large part) focuses on the efficient movement of material goods.

Insights from Ryder Innovate 2014

Talking Logistics

Sustainability and Green Initiatives in Transportation and Logistics. Jason Mathers discussed the 5 Principles of Greener Freight, and provided real-world examples of those principles in action (read the Ocean Spray , Caterpillar , and Boise case studies, and also watch my conversation with Jason from earlier this year on Talking Logistics). Source: “Sustainability and Green Initiatives in Transportation & Logistics,” Jason Mathers, EDF, Ryder Innovate 2014.

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

The Logistics & Supply Chain Management Society

This has proved to be a major source of risk. Poor business continuity planning, lack of risk management programs and single source suppliers, have magnified the impact of such risks. A significant paradigm shift in procurement and inventory control is an emerging area of focus.

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10 Vital Supply Chain Lessons from the Coronavirus Pandemic!

Supply Chain Game Changer

A natural starting point is the level of single, or sole sourcing, that is put in place. A sole source is a supplier selected because they are uniquely able to provide the materials or components, whether by virtue of intellectual property or other means of going to market with exclusivity. A single source is a supplier selected as the only supplier, on the basis of varying decision criteria, even though there are other suppliers able to provide those materials.

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Handfield’s Supply Chain Analytics Predictions for 2014

Supply Chain View from the Field

Globalization is now increasingly linked to labor costs in countries such as China, as well as fuel costs and regulatory shifts, which are in turn driving a dramatic impact on where companies source, where they produce, and the complexity of processes required to sell to the customer. Another major source of risk is the unreliability of global logistics channels, especially the challenges associated with ocean freight lines, which are becoming increasing unreliable.

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. Extreme weather represents one of the most significant risks to ocean freight on the globe. Source raw materials from reclamation centers where possible. Benchmark ocean freight rates to know if you are getting a competitive price. Subscribe Here!

Steel Fabrication and General Manufacturing Tips and Tricks for 2015

Cerasis

Still in all most fabricators have seen steel sales rise and customer demands and inventory requirements increase over the past several years. The source pointed to several trends that are encouraging the adoption of TMS, including better control of data, more comprehensive analysis and the need to support omni-channel supply chains. The post Steel Fabrication and General Manufacturing Tips and Tricks for 2015 appeared first on Freight Logistics Company | Cerasis.

Metrics that Matter: Customer Service

QAD

Inventory accuracy and minimizing stockouts are very important to customer satisfaction, but a few other metrics also impact the ability to meet customer expectations. Unreimbursed Freight. A high level of unreimbursed freight shows that the team is taking extraordinary measures to satisfy customers. Companies can use these metrics to help ensure they are doing everything possible to satisfy their customers at a manageable and sustainable cost. Unreimbursed Freight.

The Supply Chain Carbon Footprint Reduction Strategy

Supply Chain Game Changer

Whether in your personal lives or your professional lives everyone has either a positive, a neutral, or negative impact on the sustainability of the planet that we share. As such we have the direct or indirect ability to take actions which can promote environmental sustainability, reduce carbon footprint impacts, and drive the creation of the Green Supply Chain. Promote clean, sustainable resource utilization. Subscribe Here! Email Address.

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

The Logistics & Supply Chain Management Society

Realising operational and cost efficiencies will reduced lead times, improved forecast accuracy and increased inventory turnover. Successful collaboration will result in several benefits – reductions in lead times, improved in-stock fill rates, improved forecast accuracy, and increased inventory turnover. Supporting localisation – To increase resilience, means to decentralise sourcing.

This Week in Logistics News (July 15-19, 2013)

Talking Logistics

Con-way Freight Raises the Bar on Mexico Service, Adds Door-to-Door Tracking, 24-Hour Customer Resource Center, Enhanced Web Tools. Con-way Freight announced this week that it has enhanced its Mexico service offering with the introduction of real-time, door-to-door online tracking, a 24-hour Customer Resource Center and new web tools for tendering and managing shipments moving to and from Mexico.

Walmart: 3 Keys to Successful Supply Chain Management any Business Can Follow

Cerasis

Walmart would not have the ability to provide such low prices and have consistent inventory in the over 5,000 stores in the United States and over 1.3 Not only has Walmart excelled over the decades in traditional supply chain management but with recent news as of late, Walmart is also focused on continuous improvement by investing more into emerging technologies to capture more of the e-commerce market as well as a focus on sustainability.

Justifying Investments in Risk Avoidance

Supply Chain @ MIT

I gave the example of Sun Microsystems, which suffered a spate of freight thefts in Europe. Insurance companies face this issue when selling disruption insurance, or when trying to convince manufacturers to reduce both the likelihood and impact of business interruptions through measures such as increasing inventory levels and developing alternative suppliers. The strategy incurs higher costs in terms of capital expenditures, labor, and inventory, but the payoff is superior service.

Reimagine Supply Chain of the Future – agile, resilient, and balanced – LogiSYM July 2020

The Logistics & Supply Chain Management Society

Current Initiatives such as Coca Cola’s “World Without Waste” and Unilever’s “Sustainable Living Plans” are first steps toward a circular economy. To improve your capability to manage demand shifts and customer expectations it is mandatory to have dual sourcing.

Healthcare Logistics

LeanCor

Excessive purchase orders and unconsolidated freight created complexity and cost. Lack of ownership and visibility to much of the freight planning and spend on inbound material. The large number of distribution centers caused difficulty in providing good SKU coverage without creating inventory bloat. The ability for the client to take ownership of freight planning and spend hinged upon providing value to the supplier. Healthcare Logistics: A Network Design Case Study.

Profit Is Stalling? Take A Look At Your Supply Chain!

Abivin

Without sufficient capital or financial resources to sustain and run, business failure is imminent. Image Source Normally, low customer satisfaction comes from ineffective problem-solving and poor response. Image Source This issue is even more crucial in recent days as consumption and production are growing enormously fast. Companies need to become more and more competitive in order to sustain in the market, and the only way to do so is to provide a reasonable price.

Dealing With The Supply Chain Gloppy Mess

Supply Chain Shaman

Today, the bellies of the airplanes are full, and the cost of air freight is too high for many manufacturers. While many companies attempt to improve the response by being reactive on traditional data sources, this is not the answer.

Top 10 Supply Chain Innovations of 2018

Material Handling and Logistics

Top 10 Supply Chain Innovations of 2016 : robot pickers, bridge-inspecting drones, autonomous freight shuttles, and more. Top 10 Supply Chain Innovations of 2014 : hybrid DCs, 3-D prototypes, location-based inventory system, and more. Source ID. Source ID. Sustainability. Source ID. Source ID. Source ID. Source ID. Source ID. Source ID. Source ID. Source ID.

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

Supply Chain Game Changer

It’s becoming more strategic, as companies integrate their Supply Chains and use them as a source of competitive advantage – instead of just a back-office function. The goal is to make the origin of goods more transparent, allowing companies to prove that goods haven’t come from workers under abuse or unsustainable sources. More companies are raising expectations of environmental sustainability. Fallacy 4: Improved forecasting will always lead to lower inventory levels.

Greater Supply Chain Savings Thanks to Transportation Management

Cerasis

Partnerships reduce transportation costs through freight consolidation, appropriate freight classification and selection and increased scrutiny of billing and documentation practices. While many companies look for more supply chain savings and increase profit margins, the TMS remains a stable , reliable source of increased revenue. However, the nature of business also means that some supply chains can die without the right resources and tools in place to sustain it.

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. Controlling Inventory Flow & Driving Warehouse Efficiency. Additionally, some level of predictability helps in the carrier sourcing aspect of the business too. Working with carriers and all the freight you manage to create continuous movement strategies is a win-win approach.

Experts Discuss How to Streamline Global Supply Chain

Supply Chain Opz

Whether you''re a manufacturing company in China, a sourcing agent in London or a world''s leading company in Silicon Valley, we''re all in a global supply chain networks. To improve operational efficiency successfully and in a sustainable way, people across the entire business need to have a shared understanding of the supply chain goals and also what their individual roles are in achieving them.

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How Product Design Impacts the Supply Chain

Logichain Solutions

A product might be attractive for customers but drive unnecessary supply chain costs because of the impact the product design has on sourcing, packaging, production, warehousing and transportation. Sourcing. This applies to road transportation as well as sea and air freight.

Stories of Supply Chain Leadership: An Interview with Joan Motsinger of Seagate

Supply Chain Shaman

We then rated companies on their ability to manage and improve a portfolio of metrics: operating margin, inventory turns and Return on Invested Capital (ROIC). To make the Supply Chains to Admire list, a company had to score above average of their peer group for supply chain improvement as measured by the Index, and drive performance above average in the portfolio of metrics for operating margin, inventory turns and Return on Invested Capital (ROIC).

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. However, technology can be used to turn what seemed as losses into standby sources of revenue. Identify in-house or third-party providers that will help collect waste and dispose of assets in a sustainable and cost-effective way.

Why investors are looking at supply chain technologies in 2020

Requis

No one’s saying we’re going to replace them any time soon, so the CFO can continue to get his financial and inventory data, but we can better manage execution decisions in transportation or a planning decision around inventory positioning using AI/ML and real-time data.”.

Worst Forklift Accident Ever and Forklift Safety! (Video)

Supply Chain Game Changer

Source: [link] ). The damage to the warehouse and inventory is one thing, but the person driving the forklift, as well as other people in the area, could at the very least have sustained life long injuries and disabilities if they didn’t actually lose their lives. Freight and Logistics Supply Chain Management Distribution distributionlogistics Forklift safety supplychainmanagement warehouseSubscribe Here! Email Address.

The (Internet of Things) IOT Supply Chain Benefits Now Coming Clearer

Cerasis

Cantaloupe System uses the IoT to help monitor the temperatures of their vending machines, detect thieves, and monitor inventory. In the future, the IoT may allow vending machines to recognize dropping inventory, place orders for more product, recognize delivery of products, and generate a payment to the respective supplier. No one really knows what the future of the IoT holds, but it will be more efficient, effective, productive, sustainable, and commonly-used than it is today.

Lean Transportation: Are you Using Lean Thinking for Transportation Management? If not, Why?

Cerasis

The are the 8 Rights of Lean Transportation thinking: Right Materials, Right Quantity, Right time, Right Place, Right Source, Right Price, Right Quantity, and. The need to transport parts also drives inventory up, creates a need for space to store those parts, and uses energy for more forklift time and warehouse heating. Transportation strategy and tactics must support Lean inventory strategies.

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5 Crucial Software Every 3PL Company Needs To Have

Abivin

A Transportation Management System also helps in effective management of shipping units, transportation mode selection, freight bill auditing, outbound and inbound shipment scheduling, payment and processing of loss and damage claims etc. Monitoring inventory well can prevent wasted costs and time as small business owners spend 30% more operating excess inventory. Second is start-to-end tracking: the software follows inventory from the initial order to the final delivery.

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